Design-win conversion risk
Current revenue is driven by prototypes and initial orders, which may not convert into volume production.
- Scope
- Automotive, SSCB, renewable energy, industrial power
- Materiality
- high
Ideal Power Inc.
Ideal Power Inc. develops and commercializes B-TRAN®, a bidirectional power semiconductor technology used in solid-state switching and power conversion applications. The company is moving from product development into early commercialization with discrete devices, power modules, and intelligent power modules aimed at EV, renewable energy, energy storage, industrial, and utility customers.
−27 994,5 %
−60,1 %
−28 038,6 %
−56,1 %
6.72
6.71
| % | |
|---|---|
| B-TRAN® semiconductor devices | 20% Discrete bidirectional transistor devices sold for evaluation, prototyping, and integration into customer designs. |
| Power modules | 35% Packaged multi-die modules including SymCool® Power Module and SymCool® IQ for power conversion and switching. |
| Solid-state circuit breaker solutions | 25% SSCB-related products and development work for industrial, utility, and protection equipment applications. |
| Development and engineering services | 20% Prototype builds, testing, technical support, and custom development under customer agreements. |
Ideal Power sells primarily to large industrial OEMs, automotive companies, power conversion suppliers, and circuit...
- Automotive OEMsprimary
Buy B-TRAN®-based modules and evaluation kits for EV drivetrain inverters and EV contactors to assess performance and integration.
- Tier 1 automotive suppliersprimary
Purchase prototypes and development units to support OEM programs and validate power electronics designs.
- Industrial and utility circuit protection manufacturersprimary
Buy SSCB prototypes and joint-development outputs for solid-state switchgear and protection products.
- Renewable energy and energy storage customerssecondary
Use SymCool® IQ and related modules for power conversion, storage, and grid-connected applications.
- Power conversion and power management companiessecondary
Evaluate B-TRAN® for low-loss switching in industrial power conversion and custom applications.
Ideal Power is headquartered in Austin, Texas, and its commercialization efforts are centered in the United States,...
- •Headquartered in Austin, Texas
- •Commercial activity is primarily U.S.-based
- •Customer engagements include global automakers and power companies
- •First SSCB design win is with a customer in Asia
- •Geography affects design-win conversion and customer qualification cycles
Ideal Power’s strategy is to convert technical validation into design wins, then scale revenue through OEM adoption and...
01
Secure additional design winsshort-term
Design wins are the main path to durable revenue and long product life cycles.
02
Commercialize SymCool® and SSCB productsmedium-term
Product launches create the base for recurring shipments beyond prototype sales.
03
Broaden market penetration through partnersmedium-term
Distribution partners can extend reach and reduce reliance on direct enterprise selling.
Ideal Power remains an early-commercialization company, so revenue depends on converting technical interest into design...
Financing and liquidity risk
The company has funded operations mainly through equity and continues to burn cash on R&D and commercialization.
- Scope
- Ongoing operating losses and future capital needs
- Materiality
- high
Technology adoption and competitive risk
Customers may choose alternative semiconductor or switching technologies if performance, cost, or reliability is better.
- Scope
- Power electronics and solid-state switching markets
- Materiality
- high
Customer concentration and program dependence
A small number of large OEM and supplier programs can drive a disproportionate share of revenue and validation.
- Scope
- Stellantis, automakers, circuit protection manufacturer
- Materiality
- medium
Revenue recognition on development and prototype orders
Can cause large swings in reported revenue and gross margin
Intangible assets and patent impairment
Can increase operating expense and reduce reported earnings
Stock-based compensation
Affects operating loss and diluted share calculations
Equity issuance and warrant accounting
Impacts cash flow, share count, and financing disclosures
: 28.4.2026