Ideal Power Q1 2022 net loss $1.9M vs $0.9M; progresses B-TRAN commercialization

Ideal Power Inc.

2022-Q1 EPS reported -$0.31 revenue$125,008

Net loss of $1.9M in Q1 2022 vs $0.9M in Q1 2021; operating expenses $1.9M (up from $0.9M).
Grant revenue $125K vs $242K year-over-year; cash and equivalents $21.7M, no long-term debt.
Added participants to B-TRAN test program: Fortune 1000 semiconductor firm, EV manufacturer, aerospace/defense integrator.
Qualified second domestic fab partner; began qualification of non-domestic fab for high-volume production.
Completed SBIR Phase I with DTI; submitted Phase II proposal for 13.8 kV AC solid-state circuit breaker.

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