Ideal Power Q1 2024: first commercial revenue of $78,739; net loss $2.5M; SymCool shipments begin

Ideal Power Inc.

Commercial revenue $78,739 vs $0 in Q1 2023; net loss $2.5M flat YoY.
Completed public offering raising net $15.7M; cash $20.2M at quarter end, no debt.
SymCool power module shipments started; Phase II with Stellantis completed ahead of schedule.
Added first distributor Richardson Electronics; orders from company not previously in funnel.
86 issued B-TRAN patents globally; qualification run nearing with second high-volume fab in Europe.

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 first quarter ended March 31, 2024 results: net income Net loss in the first quarter of 2024 was $2.5 million compared to $2.5 million in the first quarter of 2023..

Period: first quarter ended March 31, 2024
Net income: Net loss in the first quarter of 2024 was $2.5 million compared to $2.5 million in the first quarter of 2023.
Result: reported results

Exact text from the filing

Commercial revenue increased to $78,739 in the first quarter of 2024 from $0 in the first quarter of 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ideal Power Inc. reported first quarter ended March 31, 2024 results: net income Net loss in the first quarter of 2024 was $2.5 million compared to $2.5 million in the first quarter of 2023..

Period: first quarter ended March 31, 2024
Net income: Net loss in the first quarter of 2024 was $2.5 million compared to $2.5 million in the first quarter of 2023.
Result: reported results

Exact text from the filing

Net loss in the first quarter of 2024 was $2.5 million compared to $2.5 million in the first quarter of 2023.

View on SEC.gov

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Ideal Power Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-016834

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