2Q21 Results: Notable Progress on Path Toward B-TRAN™ Commercialization
|52 Week Range||$4.81-$24.95|
|Avg. Daily Vol. (30 day)||121,253|
|Shares Out (MM)||5.9|
|Market Cap (MM)||$97.40|
|Insiders Own %||33.5%|
|Short Int./% of Float||439k / 7.5%|
|Debt to Equity||1.3%|
|Revenue TTM (MM)||$0.7|
|Fiscal Year End||December|
- On August 12, 2021, Ideal Power announced 2Q21 earnings results. The company made notable progress on the path toward commercialization of its B-TRAN™ bi-directional power switch technology.
- During the quarter, Ideal Power announced important collaborations with a Top 10 global automaker, a Top 10 solar power conversion provider, and an EV charging company on the testing and evaluation of B-TRAN™. These collaborations are key milestones on the path toward commercialization and will provide Ideal Power with valuable feedback on the device and driver in customer-specific applications.
- The company also partnered with Diversified Technologies, Inc. (DTI), under a Phase I Small Business Innovation Research (SBIR) grant from the Department of Energy (DOE), to develop a B-TRAN™-enabled AC solid-state circuit breaker (SSCB). In Phase I of the project, DTI and Ideal Power will design, build, and demonstrate B-TRAN™ driven SSCB switch modules to interrupt AC power and confirm the efficiency and speed of the B-TRAN™ devices in AC operation. If successful and awarded a Phase II grant, DTI and Ideal Power will build and test a full 50 MW, 13.8 kV SSCB.
- Ideal Power is also shoring up its supply chain through qualifying a second domestic semiconductor fabrication partner to ensure sufficient supply capacity for the large customers that the company is engaging with. The company also began the next wafer fabrication run with Teledyne under the Naval Sea System Command (NAVSEA) program.
- In 2Q21, Ideal Power earned $0.1 million of grant revenue under the NAVSEA program. Net income for the quarter was -$1.2 million or -$0.19 per diluted share. Compared to the prior year quarter, net income fell -$0.4 million mainly from higher operating expenses. As of June 30, 2021, cash on hand stood at $25.7 million and debt outstanding was $0.3 million, including leases.
- Our prior content on IPWR can be accessed HERE.
On August 12, 2021, Ideal Power announced 2Q21 earnings results. The company made notable progress on the path toward commercialization of its B-TRAN™ bi-directional power switch technology.
Water Tower Research (“WTR”) is a professional publisher of investment research reports on public companies and, to a lesser extent, private firms (“the Companies”). WTR provides investor-focused content and digital distribution strategies designed to help companies communicate with investors.
WTR is not a registered investment adviser or a broker/dealer nor does WTR provide investment banking services. WTR operates as an exempt investment adviser under the so called “publishers’ exemption” from the definition of investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940. WTR does not provide investment ratings / recommendations or price targets on the companies it reports on. Readers are advised that the research reports are published and provided solely for informational purposes and should not be construed as an offer to sell or the solicitation of an offer to buy securities or the rendering of investment advice. The information p...