Ideal Power Q3 net loss $2.7M, advances B-TRAN program with automaker Phase II

Ideal Power Inc.

Net loss of $2.7M in Q3 2023 vs $1.7M in Q3 2022; operating expenses rose to $2.8M from $1.8M.
Cash and equivalents $10.8M at Sept 30, 2023; no long-term debt outstanding.
Advanced into Phase II of development program with top 10 global automaker; 3 of 5 deliverables complete.
Launched SymCool IQ intelligent power module; patent estate at 77 issued (33 outside US) and 36 pending.
Completed shipments to all large test/evaluation participants; added European power conversion supplier.

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 0.7

Ideal Power Inc. reported financial results for third quarter ended September 30, 2023.

Period: third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 14, 2023, Ideal Power Inc. (the “Company”) issued a press release announcing its financial results for its third quarter ended September 30, 2023.

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Ideal Power Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-031788

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