Ideal Power Q4 net loss $1.9M; launches SymCool Power Module, signs automaker deal

Ideal Power Inc.

Net loss Q4 2022 $1.9M vs $1.4M Q4 2021; full year net loss $7.2M vs $4.8M.
Cash and equivalents $16.3M at Dec 31, 2022; no long-term debt outstanding.
Launched first commercial product SymCool Power Module in Jan 2023; first sales expected later 2023.
Entered product development agreement with top 10 global automaker for EV drivetrain inverters.
B-TRAN patent estate: 72 issued patents (31 outside US), 24 pending.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ideal Power Inc. reported fourth quarter and full year ended December 31, 2022 results: net income Net loss in the fourth quarter of 2022 was $1.9 million compared to $1.4 million in the fourth quarter of 2021. Net loss.

Period: fourth quarter and full year ended December 31, 2022
Net income: Net loss in the fourth quarter of 2022 was $1.9 million compared to $1.4 million in the fourth quarter of 2021. Net loss
Result: reported results

Exact text from the filing

On March 2, 2023, Ideal Power Inc. (the "Company") issued a press release announcing its financial results for the three months and full year ended December 31, 2022.

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Ideal Power Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-027919

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