Pre-revenue company with $16.4M cash runway (~8 quarters at current burn) and expanding commercial pipeline. No revenue or guidance to trade on — stock moves on partnership announcements and patent milestones. Monitor Q4 2026 for first SSCB prototype availability and potential production orders from Asia customer.
Price Chart
Executive Summary
Ideal Power reported Q1 2026 results with net loss widening to $3.6M from $2.7M a year ago, driven by higher operating expenses including stock-based compensation. Revenue was $0 vs $12K in Q1 2025, and cash used in operations was roughly flat at $2.0M. The company highlighted commercial progress including new projects with its lead Asia customer and a letter of intent for a B-TRAN prototype with a U.S. hyperscaler, but remains pre-revenue with no near-term revenue guidance.
Key Financial Metrics
Key Facts
- Net loss Q1 2026: $3.6M vs $2.7M Q1 2025
- Revenue: $0 vs $12K Q1 2025
- Operating expenses: $3.7M vs $2.8M Q1 2025, driven by higher stock-based compensation
- Cash and equivalents: $16.4M at March 31, 2026, up from $6.1M at Dec 31, 2025 after $12.6M net offering proceeds
- No long-term debt outstanding
- Initiated two new projects with lead Asia customer; LOI signed for B-TRAN prototype with U.S. hyperscaler for NVIDIA Rubin Ultra 800V DC AI data center
- Delivered initial B-TRAN samples to Stellantis; on track to complete purchase order by mid-2026
- 103 issued B-TRAN patents (50 outside US)
Financial Impact
Net loss widened $0.9M YoY; revenue declined to zero; cash burn roughly flat at $2.0M/quarter
Risk Factors
- Zero revenue with no near-term revenue guidance; dependent on converting development agreements to production orders
- Operating expenses rising faster than cash burn suggests; stock-based compensation may continue to inflate costs
- Commercialization timeline uncertain; prototype delivery targeted for Q4 2026 but no guaranteed orders
- Dilution risk: 11.2M shares outstanding vs 9.1M a year ago, with potential for further equity raises
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-016899 |
| Document: ipwr20260512_8k.htm | 0001437749-26-016899 |
| Document: 0001437749-26-016899-index-headers.html | 0001437749-26-016899 |
| Document: 0001437749-26-016899-index.html | 0001437749-26-016899 |
| Document: 0001437749-26-016899.txt | 0001437749-26-016899 |
| 8-K Data (Synthetic) | 0001437749-26-016899 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | Press Release | $4.26 | awaiting T+60 | — | $2.78 (−34.74%) |
Jul 20, 2026 14w ago | EFFECT | $4.06 $3.43 | ▲ +15.52% | ▲ +20.36% | $2.78 (+31.53%) |
Jul 10, 2026 15w ago | S-3 | $4.67 $3.95 | ▲ +15.42% | ▲ +19.41% | $2.78 (+40.47%) |
May 18, 2026 23w ago | 424B5 | $5.77 $4.38 | ▲ +24.09% | ▲ +28.94% | $2.78 (+51.82%) |
May 14, 2026 23w ago | 8-K | $7.38 $4.33 | ▼ −41.33% | ▼ −44.92% | $2.78 (−62.33%) |
Apr 6, 2026 29w ago | EFFECT | $3.13 $5.49 | ▲ +75.40% | ▲ +61.93% | $2.78 (−11.18%) |
Mar 27, 2026 30w ago | S-1 | $2.68 $5.06 | ▲ +88.81% | ▲ +72.31% | $2.78 (+3.73%) |
US Market Status
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