Monitor Q4 2026 for SSCB prototype deliveries to the lead Asia customer and the U.S. hyperscaler co-development partner, which would mark the first tangible product milestones. The $41.3M cash runway provides approximately 4 years of funding at current burn rates, reducing near-term dilution risk. Watch for any design-in announcements or production orders from Stellantis or the Asia customer as the next catalysts.
Price Chart
Executive Summary
Ideal Power reported Q2 2026 results with revenue of $5,800 (up from $1,275 YoY) and a net loss of $3.4M ($0.20/share), roughly in line with expectations for a pre-revenue development-stage company. The key positive was a $27.7M net capital raise, extending cash runway to $41.3M, and operational progress including a long-term wafer foundry agreement and advancing customer projects with Stellantis and a lead Asia customer for SSCB prototypes targeting Q4 2026 delivery. The stock's reaction will hinge on perceived commercial traction and cash runway extension rather than the minimal revenue or EPS figures.
Key Financial Metrics
Key Facts
- Revenue was $5,800 in Q2 2026 vs $1,275 in Q2 2025.
- Net loss was $3.4M ($0.20/share) vs $3.0M ($0.33/share) in Q2 2025.
- Cash and equivalents totaled $41.3M at June 30, 2026, up from $6.1M at Dec 31, 2025.
- Raised $27.7M net proceeds in a registered direct offering of common stock and pre-funded warrants during Q2.
- Entered into a long-term supply agreement with a high-volume wafer foundry in Asia; functional B-TRAN first silicon achieved.
- Advanced co-development with an industry partner on a B-TRAN-enabled SSCB prototype for a U.S. hyperscaler (NVIDIA Rubin Ultra 800V DC architecture), with prototype delivery targeted for end of Q4 2026.
- Delivered second shipment of B-TRAN samples to Stellantis for EV applications.
- Introduced a new 800-volt SSCB reference design kit (RDK); one distribution partner placed first stocking order.
- No long-term debt outstanding.
- Cash used in operating and investing activities was $2.5M in Q2 2026, flat vs Q2 2025.
Financial Impact
Pre-revenue company with $5.8K quarterly revenue; $41.3M cash runway extended by $27.7M Q2 offering; net loss burn rate ~$2.5M/quarter in operating/investing cash use.
Risk Factors
- Pre-revenue stage with no guarantee of commercial adoption or production orders.
- Significant dilution from Q2 offering (shares outstanding nearly doubled from ~9.1M to ~16.9M weighted average).
- Dependence on customer evaluation timelines and prototype success; delays could push revenue generation further out.
- Competition from established semiconductor power switch technologies (SiC, GaN).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302850046 |
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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