Ideal Power Q3 2022 net loss $1.7M; cash $18.5M; new automaker product development deal

Ideal Power Inc.

2022-Q3 EPS reported -$0.86 revenue$186,661

Net loss of $1.7M vs $1.2M in Q3 2021; operating expenses $1.8M.
Cash and equivalents $18.5M; no long-term debt at Sept 30, 2022.
Entered product development agreement with top 10 global automaker for custom B-TRAN module for EV inverters.
Shipped additional B-TRAN devices to DTI for NAVSEA MVDC circuit breaker demo.
Packaging design of multi-die power module nearing completion by year-end; 71 issued patents.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ideal Power Inc. reported for the three months ended September 30, 2022 results: revenue $10,675, net income $1.7 million.

Period: for the three months ended September 30, 2022
Revenue: $10,675
Net income: $1.7 million
Result: reported results

Exact text from the filing

in a common module. Current geographic coverage includes North America, China, Japan, South Korea, India and Europe. Third Quarter 2022 Financial Results · Grant revenue was $10,675 in the third quarter of 2022 compared to $121,028 in the third quarter of 2021. · Operating expenses in the third quarter of 2022 were $1.8 million compared to $1.2 million in the

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Ideal Power Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-118555

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