IPWR earnings analysis
What we found in IPWR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Ideal Power’s Q2 EPS improved to -$0.20, but revenue was only $5,800 and the company remained significantly loss-making, with a $3.4 million net loss and $3.6 million of operating expenses. Liquidity improved to $41.3 million following $27.7 million of net financing proceeds, reducing near-term funding pressure. No material risk-factor changes or numeric forward guidance were disclosed; management continued to emphasize design-ins, development agreements and production orders.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Improved Year Over Year
- Q2 diluted EPS was -$0.20, an improvement from -$0.33 in Q2 2025 and -$0.33 in Q1 2026.
- Financing Improved Liquidity
- Liquidity increased to $41.3 million after $27.7 million of net financing proceeds, strengthening near-term funding capacity.
- Foundry and IP Platform Expanded
- The company reported a foundry agreement and 105 patents, supporting its commercialization and intellectual-property platform.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Revenue Remains Minimal
- Q2 revenue was only $5,800, indicating that commercial revenue remains minimal despite management’s stated focus on an initial revenue ramp.
- Operating Losses Remain High
- The company recorded a net loss of $3.4 million while operating expenses were $3.6 million, highlighting continued operating losses ahead of meaningful revenue scale.
- Funding Depends on Commercialization
- The filing states there were no material changes from the risk factors in the December 31, 2025 Form 10-K; however, the $41.3 million liquidity balance remains dependent on financing and future commercialization progress.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.2
What they said about what is next.
No numeric revenue or EPS guidance was provided. Management reiterated priorities to drive an initial revenue ramp and convert opportunities into design-ins, development agreements and production orders.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 15, 2026
- Ideal Power reported disappointing results for Q1 2026, with no revenue generated and an EPS of -$0.33, missing the estimated EPS of -$0.29. The company continues to expand its cash position, ending the quarter with…
- 10-K · March 27, 2026
- Ideal Power remains an early-stage commercializing power‑semiconductor company: it launched two products (discrete B‑TRAN® and SymCool® Power Module) and recorded modest commercial revenue of $37,728 in 2025 (vs.…
- 10-Q · November 13, 2025
- Ideal Power reported Q3 2025 revenue of $24,450 (vs. $554 in Q3 2024) showing early commercial traction, but GAAP results remain deeply negative with a Q3 net loss of $2,940,650 and EPS of $(0.32). Cash fell to…
- 10-Q · August 14, 2025
- Ideal Power reported Q2 2025 revenue of $1,275 and GAAP diluted EPS of $(0.33), with a gross loss of $2,202 and operating loss of $3,140,493. Revenue collapsed sequentially from $12,003 in Q1 2025 to $1,275 in Q2 2025,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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