Ideal Power Reports Second Quarter 2026 Financial Results

Ideal Power Inc. (Nasdaq: IPWR ) ("Ideal Power," the "Company," "we," "us" or "our"), developer and provider of its innovative and widely patented B-TRAN® bidirectional semiconductor power switch, reports results for its second quarter ended June 30, 2026.

"We continued to execute across our commercial priorities in the second quarter. We advanced our low current solid-state circuit breaker ("SSCB") project with our lead customer in Asia and our co-development effort with an industry partner on a B-TRAN®-enabled SSCB prototype for a planned evaluation by a U.S. hyperscaler supporting the new NVIDIA Rubin Ultra 800V DC AI data center power distribution architecture," said David Somo, President and Chief Executive Officer of Ideal Power.

Somo continued, "We also achieved an important operational milestone by entering into a long-term supply agreement with a high-volume wafer foundry. Initial discussions with this foundry started in the first quarter and they've already successfully fabricated functional B-TRAN® first silicon. This foundry has the capacity to support high-volume industrial and automotive customers over the long-term, at a cost we believe supports our targeted gross margins at scale."

Key Second Quarter 2026 and Recent Business Highlights Execution of our B-TRAN® commercial strategy continues, including:

Continued advancing the first project with our lead Asia customer as we are in the process of finalizing low current SSCB prototype units for shipment to the customer later this month for their internal testing. B-TRAN®-enabled SSCB prototypes are expected to be available from this customer for their 800V AI data center and energy grid end-customers in Q4 2026.

Delivered a second shipment of next generation B-TRAN® custom packaged samples and development kits for evaluation to Stellantis for EV applications. We are working closely with Stellantis on a detailed analysis of their solid-state contactor system-level specification to optimize the solution and align the remaining deliverables under the purchase order.

Entered into a long-term supply agreement with a high-volume wafer foundry in Asia and achieved functional B-TRAN® first silicon. This foundry has ample capacity to support high-volume industrial and automotive customers at a cost we believe will support our targeted gross margins at scale.

Seeing accelerating demand to support 800-volt DC architectures with a growing number of potential customers — including leading global electromechanical breaker manufacturers now seeking SSCB solutions. To accelerate potential adoption, we introduced a new 800-volt SSCB reference design kit ("RDK") for customers to evaluate our technology and assist in the development of their own SSCB products. One of our distribution partners has already placed its first stocking order for these SSCB RDKs.

Advanced the co-development effort under the letter of intent we signed in the second quarter, collaborating with an industry partner on a B-TRAN®-enabled intelligent SSCB prototype planned for evaluation by a U.S. hyperscaler in its development environment for the NVIDIA Rubin Ultra 800V DC AI data center power distribution system, with prototype delivery targeted for the end of Q4 2026.

Our newly formed Advisory Board now includes its first member, Dr. Sanjai Parthasarathi, Chief Marketing Officer of Coherent Corp. (NYSE: COHR ), who brings more than 35 years of leadership across data centers, AI infrastructure, and related technology markets. His deep market expertise and industry network directly support our plans to accelerate the commercialization of our high-value, high-impact solu...