Ideal Power Inc. IPWR
Ideal Power Inc. was formed in Texas on May 17, 2007 and converted to a Delaware corporation on July 15, 2013. Unless otherwise stated or the context otherwise requires, the terms "Ideal Power," "we," "us," "our" and the "Company" refer to Ideal Power Inc.
We are solely focused on the further development and commercialization of our Bidirectional bipolar junction TRANsistor ("B-TRAN®") solid-state switch technology.
To date, operations have been funded primarily through the sale of common stock and pre-funded warrants and we have generated $3.7 million in grant revenue for bidirectional power switch development. We may pursue additional research and development grants, if and when available, to further develop and/or improve our technology.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.7K | $86.0K | $198.9K | $203.3K | $576.4K | $428.1K | $0 | $0 | $0 | $1.6M |
| Cost of revenue | $60.4K | $93.4K | $160.6K | $203.3K | $576.4K | $428.1K | $0 | $0 | $0 | $1.9M |
| Gross profit | -$22.7K | -$7.4K | $38.3K | $0 | $0 | $0 | $0 | $0 | $0 | -$311.0K |
| R&D | $6.0M | $6.2M | $5.7M | $3.4M | $1.9M | $1.7M | $1.1M | $871.7K | $715.8K | $5.2M |
| SG&A | $3.8M | $3.6M | $3.5M | $3.1M | $2.4M | $2.3M | $2.1M | $3.4M | $3.5M | $3.7M |
| Total operating expenses | $10.9M | $11.1M | $10.4M | $7.3M | $4.8M | $4.1M | $3.1M | $4.3M | $4.2M | $10.7M |
| Operating income | -$10.9M | -$11.1M | -$10.4M | -$7.3M | -$4.8M | -$4.1M | -$3.1M | -$4.3M | -$4.2M | -$11.0M |
| Interest expense | $354.8K | $653.4K | $398.1K | $153.6K | $12.7K | $5.0K | $4.3K | $40.0K | $17.6K | $36.0K |
| Pre-tax income | -$10.6M | -$10.4M | — | — | — | — | — | — | — | — |
| Income tax | $1.3K | $0 | — | — | — | — | — | — | — | — |
| Net income | -$10.6M | -$10.4M | -$10.0M | -$7.2M | -$4.8M | -$7.8M | -$3.9M | -$7.9M | -$10.4M | -$11.0M |
| EPS, basic | -1.16 | -1.28 | -1.61 | -1.17 | -0.80 | -2.20 | — | — | — | — |
| EPS, diluted | — | — | — | -1.17 | -0.80 | -2.20 | -2.38 | -5.64 | -0.79 | -1.15 |
| Shares, diluted (wtd. avg.) | $9.1M | $8.2M | $6.2M | $6.2M | $5.9M | $3.5M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.1M | $15.8M | $8.5M | $16.3M | $23.2M | $3.2M | $3.1M | $3.3M | $10.0M | $4.2M |
| Receivables | $24.0K | $692 | $70.0K | $65.9K | $233.3K | $170.3K | — | $0 | $5.6K | $378.7K |
| Inventory | $9.7K | $96.4K | $81.5K | $0 | — | — | — | — | $251.4K | $1.2M |
| Total current assets | $6.5M | $16.3M | $9.1M | $16.9M | $23.4M | $3.4M | $3.3M | $4.7M | $10.8M | $6.1M |
| Property, plant and equipment | $376.7K | $415.2K | $359.2K | $200.1K | $56.2K | $37.1K | $47.3K | $63.2K | $134.7K | $936.5K |
| Other intangibles | $2.7M | $2.6M | $2.6M | $2.0M | $2.1M | $1.6M | $1.6M | $1.4M | $1.4M | $1.9M |
| Total assets | $10.0M | $19.8M | $12.2M | $19.4M | $25.9M | $5.1M | $5.3M | $6.2M | $13.6M | $9.0M |
| Accounts payable | $408.4K | $104.1K | $405.1K | $130.5K | $130.5K | $102.0K | $183.0K | $94.2K | $212.8K | $346.8K |
| Total current liabilities | $973.2K | $560.8K | $930.9K | $449.3K | $542.9K | $659.5K | $685.2K | $1.1M | $1.5M | $1.5M |
| Total liabilities | $2.2M | $2.0M | $2.2M | $1.5M | $1.7M | $1.3M | $1.4M | $1.6M | $2.0M | $1.8M |
| Retained earnings | -$118.0M | -$107.5M | -$97.0M | -$87.1M | -$79.9M | -$75.1M | -$67.3M | -$63.4M | -$55.5M | -$45.1M |
| Total equity | $7.9M | $17.9M | $10.1M | $17.9M | $24.1M | $3.8M | $3.9M | $4.6M | $11.6M | $7.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.1M | -$8.7M | -$7.1M | -$6.4M | -$4.3M | -$3.0M | -$2.5M | -$3.8M | -$3.0M | -$10.1M |
| Depreciation and amortisation | $371.4K | $341.0K | $271.7K | $187.1K | $157.6K | $122.2K | $110.5K | $137.5K | $154.8K | $406.6K |
| Stock-based compensation | $729.2K | $1.6M | $2.3M | $975.8K | $352.3K | $868.6K | $184.3K | $730.8K | $988.9K | $1.5M |
| Capital expenditure | $119.5K | $197.3K | $240.8K | $182.7K | $44.3K | $13.9K | $4.3K | $1.1K | $64.7K | $391.1K |
| Investing cash flow | -$449.5K | -$506.4K | -$522.9K | -$312.7K | -$236.9K | -$67.2K | -$104.1K | -$134.1K | -$236.1K | -$751.0K |
| Financing cash flow | -$128.8K | $16.6M | -$216.3K | -$127.9K | $24.5M | $3.2M | $3.1M | -$5.7K | $13.7M | $32.3K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-013466.
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