Q2 2026 Ideal Power Inc Earnings Call Transcript
Key Points
- Ideal Power Inc (IPWR) is finalizing prototype solid-state circuit breakers for its lead Asia customer, with initial low-volume orders expected in Q4 2026.
- The company signed a long-term supply agreement with a high-volume, automotive-qualified foundry in Asia, achieving functional first silicon and supporting targeted gross margins at scale.
- Ideal Power Inc (IPWR) expanded its sales funnel to over $400 million in total revenue opportunity, up from $300 million, driven by growing demand for 800-volt DC architectures.
- The company introduced a new SSCB reference design kit (RDK) to accelerate customer adoption, with a distribution partner placing its first stocking order.
- Ideal Power Inc (IPWR) raised $27.7 million in net proceeds from a registered direct offering, strengthening its balance sheet to $41.3 million in cash with no debt.
- The company is making progress with Stellantis on solid-state EV contactor development, with deeper technical discussions and a milestone scheduled for Q4 2026.
- Ideal Power Inc (IPWR) reported a net loss of $3.4 million in Q2 2026, wider than the $3 million loss in the same period last year.
- The company's cash burn is expected to increase to $10.3-$10.5 million for full-year 2026, up from $9.6 million in 2025, due to hiring and expansion.
- Revenue remains modest, with initial customer orders expected to be small and order sizes increasing only as customers progress through design cycles.
- The Stellantis project has experienced timing delays in completing deliverables under the purchase order, impacting expected milestones.
- Automotive qualification for B-TRAN has been deprioritized in favor of industrial qualification, which could delay automotive revenue opportunities.
- The company's operating expenses increased to $3.6 million in Q2 2026, driven by higher stock-based compensation, personnel costs, and non-cash patent impairments.
Good morning ladies and gentlemen and welcome to the Ideal Power Second Quarter 2026 Results Conference Call. At this time, all participants are in a listen-only mode. At the end of management's remarks, there will be a question-and-answer session. Investors can submit their questions anytime within the meeting webcast by typing them into the Q&A button on the left side of your viewing screen.
Analysts who publish research may ask questions on the phone line. (Operator Instructions)
I would now like to turn the conference over to Jeff Christensen. Please go ahead.
Thank you, Jenny, and good morning, everyone.
Thank you for joining Ideal Power second quarter 2026 results conference call. On the call with me are David Somo, President and Chief Executive Officer, and Tim Burns, Chief Financial Officer. Ideal Power second quarter 2026 financial results press release is available on the company's website at idealpower.com.
Before we begin, I'd like to remind everyone that a
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