Ideal Power Q2 net loss $2.3M; achieves B-TRAN production milestone with high-volume fab

Ideal Power Inc.

2023-Q2 EPS reported -$0.78 revenue$135,831

Net loss of $2.3M vs $1.7M in Q2 2022; operating expenses $2.4M up from $1.7M.
Cash and equivalents $12.7M, no long-term debt; cash used in operations $1.8M in Q2.
Completion of B-TRAN process engineering run with high-volume fab demonstrates manufacturability and high yield.
Shipped hundreds of B-TRAN devices to NAVSEA partner DTI; all obligations fulfilled.
Customer shipments to test & evaluation program participants including top 10 automaker and Global 500 power management firms.

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 0.95

Ideal Power Inc. reported financial results for second quarter ended June 30, 2023.

Period: second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 10, 2023, Ideal Power Inc. (the "Company") issued a press release announcing its financial results for its second quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001104659-23-089601

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