Austin, Texas, November 12, 2026 / PRNewswire / -- Ideal Power Inc. (Nasdaq ticker: IPWR) (hereinafter referred to as “Ideal Power” or “the Company”) is an innovative developer and supplier of B-TRAN ® bidirectional semiconductor power switches with a broad patent portfolio. The Company announced its financial results for the third quarter ending September 30, 2026.

Ideal Power President and CEO, David Somo, stated: "As the transition to higher-voltage DC architectures accelerates, the demand for solid-state circuit protection is also increasing, and our customer base continues to expand. Since the third quarter, we have collaborated with Power Integrations to demonstrate a prototype of an intelligent circuit breaker and have begun shipping new B-TRAN ® reference design kits (RDK). We have also advanced plans with an industry partner to undertake a jointly funded engineering research and modeling project to provide a simulation platform for a major American cloud service provider. At the same time, we continue to pursue opportunities with Stellantis in the electric vehicle sector and are expanding new customer contacts in the areas of AI data centers and energy infrastructure."

Somo continued, "Looking back on my first year as CEO, we have made significant progress in helping customer opportunities move through the sales funnel and into mass production orders. We have assembled an experienced team in semiconductor management and engineering, expanded our sales funnel to approximately $450 million, launched a new RDK, signed a long-term supply agreement with a high-capacity, automotive-grade power semiconductor wafer foundry, and strengthened our balance sheet. Our focus remains on transforming the growing opportunities within our sales funnel into mass production orders, revenue growth, and long-term shareholder value."

Key Business Highlights for the Third Quarter of 2026 and Recent Period

• The company stated that its B-TRAN ® commercialization strategy continues to advance, which includes announcing a collaboration with Power Integrations to develop a self-powered, intelligent, ultra-high-speed solid-state circuit breaker ( SSCB ) for 800-volt DC data centers. With the working prototype now on display, both parties are currently advancing a joint reference design aimed at potential customers in order to accelerate commercialization in the data center market.
• The company is finalizing a job description with a global industrial technology firm to undertake a 800-volt DC 125-ampere SSCB development project funded by NRE (non-recurring engineering expenses), which is scheduled to be launched this quarter. The firm serves a wide range of markets, including data centers, other industrial applications, and the automotive sector.
• The company has initiated new discussions with a large potential client. The client is currently evaluating the use of B-TRAN ® for an 800-volt DC 63-ampere SSCB and integrating it into a battery energy storage system. This SSCB can also be used in data center applications. If the evaluation is successful, the client plans to showcase and promote this solution at their year-end customer exhibition.
• The company is finalizing the project scope document for another project funded by NRE, with a partner who signed a letter of intent earlier this year ( LOI ). Both parties will jointly carry out engineering research and modeling work to provide a simulation platform for a large American cloud service provider. The company expects this project to be confirmed and launched in the fourth quarter.
• The company has expanded the distribution of 800-volt SSCB RDK to accelerate product evaluation and potential adoption. Richardson Electronics currently has this RDK in stock and has begun accepting customer orders. The company expects to receive additional inventory orders from other distributors as well as direct orders in the coming months.
• The company continues to advance opportunities with Stellantis regarding solid-state electric vehicle contactors, supporting their evaluation of the second-generation B-TRAN ® custom packaging samples and development kits, and continues to work on system-level specifications. The deliverables completed to date support the next project milestone scheduled for this quarter. The company is also continuing to expand its automotive business portfolio by adding new global automakers and tier-one suppliers.
• The company stated that its manufacturing preparation efforts have made progress, with a high-capacity semiconductor wafer foundry in Asia that meets automotive-grade standards continuously optimizing its process flows. They have already produced the first batch of functional B-TRAN ® silicon wafers. This foundry has sufficient capacity to support a large number of industrial and automotive customers, and the company believes that its cost structure can sustain the target gross margin after scaling up. In terms of JEDEC certification, the company is making progress towards achieving its goal within this year.
• The company stated that the strategic value of the newly established advisory committee has begun to be realized. Its first member, Dr. Sanjai Parthasarathi, has been involved in the company's multi-year strategic planning and has assisted in introducing leading enterprises in the data center, AI infrastructure, and related technology markets.
• In terms of the B-TRAN ® patent portfolio, the company currently holds 108 authorized B-TRAN ® patents, 52 of which have been authorized outside of the United States. The current geographical coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.

Financial Performance for the Third Quarter of 2026

• As of September 30, 2026, the total amount of cash and cash equivalents was 38.3 million US dollars.
• Cash used for operating and investment activities in the third quarter of 2026 was $2.9 million, compared to $2.7 million in the same period of the previous year.
• Cash used for operating and investment activities in the first nine months of 2026 was 7.7 million US dollars, compared to 7.4 million US dollars in the same period of the previous year.
• As of September 30, 2026, the company has no outstanding long-term debts.
• Operating expenses in the third quarter of 2026 were $3.9 million, compared to $3 million in the same period of the previous year, mainly due to increases in personnel costs, share-based payment expenses, and non-cash patent impairment expenses incurred during the review of the patent portfolio pending approval.
• In the third quarter of 2026, the net loss was $3.6 million, compared to $2.9 million in the same period of the previous year. In the first nine months of 2026, the net loss was $10.6 million, whereas in the same period of the previous year it was $8.7 million.

Teleconference and webcast: Third quarter of 2026

The company will hold a teleconference on Thursday, November 12, 2026, at 10:00 a.m. Eastern Time to discuss financial results and conduct a Q&A session. Analysts and investors will have the opportunity to ask management questions during the live broadcast of the teleconference.

Those interested in participating can call 888-506-0062 (US/Canada) or 973-528-0011 (international), with the password being 615151, to join the live teleconference. It is recommended that participants dial in or log in 10 minutes before the scheduled start time to ensure a smooth connection. The operator will register the participants' names and their affiliated institutions. From one hour after the teleconference ends until midnight on November 26, 2026, you can call 877-481-4010 and enter the password 54750 to listen to the recording.

Online live broadcasts and interactive Q&A sessions can be accessed through the " Events " section on the company's investor relations website. Replay videos of the online live broadcasts will also be available at the same link.

Regarding Ideal Power Inc.

Ideal Power (Nasdaq ticker: IPWR) is an innovative developer and supplier of B-TRAN ® bidirectional semiconductor power switches with a broad patent portfolio. The company claims that B-TRAN ® offers significant advantages over traditional technologies, meeting the stringent standards of modern solid-state circuit protection and intelligent power transmission systems. Its extremely low conduction losses improve power efficiency, thereby reducing energy consumption and saving costs. The unique bidirectional capability of B-TRAN ® simplifies the design, control, and diagnosis of solid-state power solutions, while enabling smaller and more cost-effective systems. B-TRAN ® is suitable for a wide range of applications, including solid-state circuit breakers, static switching switches, battery disconnect units, and electric vehicle contactors. These products are widely used in data centers, industrial power systems, grid and energy storage systems, as well as electric vehicles and charging infrastructure.

Safe Harbor Statement

All statements in this press release that are not based on historical facts are considered “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934 as amended. Although the management of Ideal Power has made these forward-looking statements in this press release based on current expectations, the information on which those expectations are based may change.

Such forward-looking statements include, but are not limited to: higher voltage DC architectures will accelerate the demand for advanced solid-state circuit protection; expanding the distribution of 800-volt SSCB RDK will speed up product evaluation and potential adoption; the company expects to receive additional inventory orders and direct orders from other distributors in the coming months; the company expects to receive NRE funding projects from certain customers; the expected completion time for JEDEC certification; and new foundries will provide a cost structure that supports the company's goal of achieving higher gross margins on a larger scale.

These forward-looking statements rely on certain assumptions regarding future events and are subject to a number of risks, uncertainties, and other factors, many of which are beyond the company's control and may result in significant differences between actual results and such statements. These risks, uncertainties, and other factors include, but are not limited to: the success of B-TRAN ® technology, including whether related patents will provide sufficient protection, and the company's ability to successfully maintain, enforce, and defend its patents; the company's inability to accurately or precisely predict the speed and timing of the development and commercialization of B-TRAN ® technology; the market's acceptance rate and extent of B-TRAN ®; the impact of global public health pandemics on the company's business; disruptions in the supply chain; and the expected performance of products that will utilize B-TRAN ® in the future. In addition, there are also uncertainties listed in the company's quarterly, annual, and other reports submitted to the U.S. Securities and Exchange Commission.

The company also stated that it operates in an environment characterized by fierce competition and rapid changes, which may give rise to new, unforeseen risks. Therefore, investors should not regard forward-looking statements as predictions of actual results. Apart from legal requirements, the company has no intention and does not assume any obligation to update or revise such forward-looking statements.

Ideal Power Investor Relations Contact Person

Jeff Christensen