# EDGAR Filing Document

**Accession Number:** 0001507957
**File Stem:** 0001437749-25-034653
**Filing Date:** 2025-11
**Character Count:** 18433
**Document Hash:** fad59b97e3c2d1601e70485dbab95c5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-034653.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001437749-25-034653

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251113

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ideal Power Inc.
- **CENTRAL INDEX KEY:** 0001507957
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 141999058
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36216
- **FILM NUMBER:** 251475815

**BUSINESS ADDRESS:**
- **STREET 1:** 5508 HIGHWAY 290 WEST
- **STREET 2:** SUITE 120
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78735
- **BUSINESS PHONE:** 512-264-1542

**MAIL ADDRESS:**
- **STREET 1:** 5508 HIGHWAY 290 WEST
- **STREET 2:** SUITE 120
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78735

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ideal Power Converters, Inc.
- **DATE OF NAME CHANGE:** 20101215

?xml version='1.0' encoding='ASCII'? ipwr20251112_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

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**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): November 13, 2025**

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**IDEAL POWER INC.**

(Exact name of registrant as specified in Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-36216** | **14-1999058** |
| (State or other jurisdiction of<br> incorporation or organization) | (Commission File No.) | (IRS Employee Identification No.) |

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**5508 Highway 290 West, Suite 120**

**Austin, Texas, 78735**

(Address of Principal Executive Offices)

**512-264-1542**

(Issuer Telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2 below).

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

☐ Pre-commencement communications pursuant to Rule 13e-(c) under the Exchange Act (17 CFR 240.13(e)-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock | IPWR | Nasdaq Capital Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**ITEM 2.02**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On November 13, 2025, Ideal Power Inc. (the "Company") issued a press release announcing its financial results for the three months ended September 30, 2025. The press release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in its entirety into this Item 2.02. The press release contains forward-looking statements regarding the Company and includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

The Company will host a conference call with investors to discuss the results. The conference call will begin at 10:00 a.m. Eastern time on Thursday, November 13, 2025. The call may be accessed in the U.S. by dialing 1-888-506-0062 and using passcode 264361. A webcast and replay of the call may be found at

<u>https://www.webcaster5.com/Webcast/Page/2987/53161</u>.

The information furnished under this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended, or otherwise subject to the liabilities of that Section. The information in this Item 2.02, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.

**ITEM 9.01**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FINANCIAL STATEMENTS AND EXHIBITS**

(d) *Exhibits.*

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| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
| 99.1 | [Press Release, dated November 13, 2025.](ex_887984.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Dated: November 13, 2025 | IDEAL POWER INC. | IDEAL POWER INC. |
|  | By:  | /s/ Timothy Burns |
|  |  | Timothy Burns |
|  |  | Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

![logomedium.jpg](logomedium.jpg)

**Ideal Power Reports Third Quarter 2025 Financial Results**

AUSTIN, TX – November 13, 2025 -- <u>Ideal Power Inc.</u> (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us" or "our"), developer and innovative provider of the highly efficient and broadly patented B-TRAN® bidirectional semiconductor power switch, reports results for its third quarter ended September 30, 2025.

"I'm excited to have joined Ideal Power and thrilled by the strong foundation in place for growth. Our first design win customer successfully completed testing of the updated prototype solid-state circuit breakers (SSCBs) and we are currently working with them on the finalization of their first product design," said David Somo, President and Chief Executive Officer of Ideal Power.

Somo continued, "We are delighted to announce securing the purchase order from Stellantis for custom development and packaged B-TRAN® devices targeting multiple electric vehicle (EV) applications. We completed our first of five deliverables under the purchase order. The remaining deliverables are expected to be completed next year."

**Key Third Quarter and Recent Operational Highlights**

Execution to our B-TRAN® commercial roadmap continues, including:

● Our first design win customer completed testing of the updated SSCB prototype breakers with enhanced capabilities. We are working with them on the finalization of their product design, ahead of the B-TRAN®-enabled product launch targeting AI data center customers.

● Secured purchase order from Stellantis in late August for custom development and packaged B-TRAN® devices targeting multiple EV applications and completed our first of five deliverables under the purchase order in late September. The remaining deliverables are expected to be completed next year.

● Engaged with a sixth global automaker. This automaker is evaluating B-TRAN® for low-loss, solid-state solutions for EV power switching and protection applications.

● Shipped additional SSCB reference designs to large, potential customers including another global power management market leader.

● Increased the power rating of our discrete B-TRAN® product by 50% and commenced sampling of these devices with the higher power rating. This development has sparked greater interest from both existing customers and new prospects in our sales pipeline.

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● Third-party automotive qualification and reliability testing of B-TRAN® devices is well underway with more than a thousand packaged B-TRAN® devices from multiple wafer runs. Test results continue to be positive with no failures to date.

● B-TRAN® Patent Estate: Currently at 97 issued B-TRAN® patents with 47 of those issued outside of the United States and 73 pending B-TRAN® patents. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.

**Third Quarter 2025 Financial Results**

● Cash used in operating and investing activities in the third quarter of 2025 was $2.7 million compared to $2.4 million in the third quarter of 2024.

● Cash used in operating and investing activities in the first nine months of 2025 was $7.4 million compared to $6.6 million in the first nine months of 2024.

● Cash and cash equivalents totaled $8.4 million at September 30, 2025.

● No long-term debt was outstanding at September 30, 2025.

● Operating expenses in the third quarter of 2025 were $3.0 million compared to $2.9 million in the third quarter of 2024 due to modestly higher research and development spending.

● Net loss in the third quarter of 2025 was $2.9 million compared to $2.7 million in the third quarter of 2024.

**Conference Call and Webcast: Third Quarter 2025**

The Company will hold a conference call on Thursday, November 13, 2025 at 10:00 AM Eastern Time to discuss its results and host a question-and-answer session. Analysts and investors may pose questions for management during the live conference call.

Interested persons may access the live conference call by dialing 888-506-0062 (U.S./Canada callers) or 973-528-0011 (international callers), using passcode 264361. It is recommended that participants call or log in 10 minutes ahead of the scheduled start time to ensure proper connection. An operator will register your name and organization. An audio replay will be available one hour after the live call until Midnight on November 27, 2025 by dialing 877-481-4010 using passcode 53161.

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The live webcast and interactive Q&A will be accessible on the Company's Investor Relations website under the Events tab <u>HERE</u>. The webcast will be archived on the Company's website for future viewing.

**About Ideal Power Inc.**

Ideal Power (NASDAQ: IPWR) is the developer and innovative provider of its broadly patented bidirectional semiconductor power switch, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS/data center, solid-state circuit breaker and other industrial and military applications. The Company is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN®) semiconductor technology. B-TRAN® is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today's conventional power semiconductors. Ideal Power's B-TRAN® can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company's website at <u>www.IdealPower.com</u>, on <u>LinkedIn</u>, on <u>Twitter</u>, and on <u>Facebook</u>.

**Safe Harbor Statement**

All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Ideal Power's management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Such forward-looking statements include, but are not limited to, statements regarding the planned launch of a B-TRAN®-enabled product targeting AI data center customers by our first design win customer and the anticipated timing of deliverables under the purchase order from Stellantis. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the success of our B-TRAN® technology, including whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, our inability to predict with precision or certainty the pace and timing of development and commercialization of our B-TRAN® technology, the rate and degree of market acceptance for our B-TRAN®, the impact of global health pandemics on our business, supply chain disruptions, and the expected performance of future products incorporating our B-TRAN®, and uncertainties set forth in our quarterly, annual and other reports filed with the Securities and Exchange Commission. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements, except as required by applicable law.

**Ideal Power Investor Relations Contact**

Jeff Christensen<br> Darrow Associates Investor Relations<br> <u>jchristensen@darrowir.com</u>

703-297-6917

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**IDEAL POWER INC.**

**Balance Sheets**

**(unaudited)**

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| | | |
|:---|:---|:---|
|  | **September 30,<br> 2025** | **December 31,<br> 2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| Cash and cash equivalents | $8394113 | $15842850 |
| Accounts receivable, net | 31500 | 692 |
| Inventory | 65087 | 96406 |
| Prepayments and other current assets | 184228 | 356658 |
| Total current assets | 8674928 | 16296606 |
| Property and equipment, net | 408675 | 415232 |
| Intangible assets, net | 2678387 | 2611998 |
| Right of use asset | 419589 | 483497 |
| Other assets | 44459 | 19351 |
| Total assets | $12226038 | $19826684 |
| **LIABILITIES AND STOCKHOLDERS**' **EQUITY** |  |  |
| Current liabilities: |  |  |
| Accounts payable | $229199 | $104117 |
| Accrued expenses | 568675 | 374012 |
| Current portion of lease liability | 90646 | 82681 |
| Total current liabilities | 888520 | 560810 |
| Long-term lease liability | 334430 | 403335 |
| Other long-term liabilities | 929247 | 1007375 |
| Total liabilities | 2152197 | 1971520 |
| Stockholders' equity: |  |  |
| Common stock | 8513 | 8337 |
| Additional paid-in capital | 126226240 | 125327300 |
| Treasury stock | (13210) | (13210) |
| Accumulated deficit | (116147702) | (107467263) |
| Total stockholders' equity | 10073841 | 17855164 |
| Total liabilities and stockholders' equity | $12226038 | $19826684 |

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**IDEAL POWER INC.**

**Statements of Operations**

**(unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quarter Ended** <br> **September 30,** | **Quarter Ended** <br> **September 30,** | **Nine Months Ended** <br> **September 30,** | **Nine Months Ended** <br> **September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $24450 | $554 | $37728 | $80624 |
| Cost of revenue | 26069 | 1511 | 60408 | 87483 |
| Gross loss | (1619) | (957) | (22680) | (6859) |
| Operating expenses: |  |  |  |  |
| Research and development | 1793162 | 1684063 | 5261173 | 4613703 |
| General and administrative | 958938 | 893969 | 2755998 | 2695041 |
| Sales and marketing | 266598 | 320642 | 945791 | 996992 |
| Total operating expenses | 3018698 | 2898674 | 8962962 | 8305736 |
| Loss from operations | (3020317) | (2899631) | (8985642) | (8312595) |
| Interest income, net | 79667 | 209283 | 305203 | 490556 |
| Net loss | $(2940650) | $(2690348) | $(8680439) | $(7822039) |
| Net loss per share – basic and fully diluted | $(0.32) | $(0.31) | $(0.95) | $(0.99) |
| Weighted average number of shares outstanding – basic and fully diluted | 9153407 | 8767251 | 9124115 | 7870542 |

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**IDEAL POWER INC.**

**Statements of Cash Flows**

**(unaudited)**

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| | | |
|:---|:---|:---|
|  | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
|  | **2025** | **2024** |
| Cash flows from operating activities: |  |  |
| Net Loss | $(8680439) | $(7822039) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| Depreciation and amortization | 276332 | 250936 |
| Amortization of right of use asset | 63908 | 55011 |
| Write-off of capitalized patents | 34363 | 62073 |
| Write-off of property and equipment | 6211 | 15371 |
| Gain on lease termination |  | (15319) |
| Stock-based compensation | 997840 | 1163808 |
| Decrease (increase) in operating assets: |  |  |
| Accounts receivable | (30808) | 68674 |
| Inventory | 31319 | 21320 |
| Prepaid expenses and other current assets | 147322 | 171870 |
| Increase (decrease) in operating liabilities: |  |  |
| Accounts payable | 125082 | (329045) |
| Accrued expenses and other liabilities | 116535 | 219483 |
| Lease liability | (60940) | (54850) |
| Net cash used in operating activities | (6973275) | (6192707) |
| Cash flows from investing activities: |  |  |
| Purchase of property and equipment | (111334) | (193461) |
| Acquisition of intangible assets | (265404) | (251639) |
| Net cash used in investing activities | (376738) | (445100) |
| Cash flows from financing activities: |  |  |
| Net proceeds from issuance of common stock and pre-funded warrants |  | 15724818 |
| Exercise of options and warrants | 110 | 1105655 |
| Payment of taxes related to restricted stock unit vesting | (98834) | (11579) |
| Net cash provided by (used in) financing activities | (98724) | 16818894 |
| Net Increase (decrease) in cash and cash equivalents | (7448737) | 10181087 |
| Cash and cash equivalents at beginning of period | 15842850 | 8474835 |
| Cash and cash equivalents at end of the period | $8394113 | $18655922 |

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