Ideal Power reports Q2 EPS (37c) vs. (27c) last year

Reports Q2 revenue $135.2M vs. $50.98M last year. “The second quarter and 2023 thus far were transformative in our transition from a technology development company to a commercial company and included some of the most significant accomplishments in the Company’s history. We achieved all of our first half of 2023 milestones and we remain on track to achieve our remaining 2023 goals,” said Dan Brdar, President and Chief Executive Officer of Ideal Power. Brdar continued, “The B-TRAN full process flow engineering run by our wafer fabrication supplier with high-volume production capability demonstrated the manufacturability of B-TRAN with high yield and excellent device performance, clearing the last and by far the biggest technical risk for B-TRAN development and commercialization. This was a pivotal accomplishment and prerequisite for commercialization. In addition, we delivered hundreds of devices to Diversified Technologies to complete our work under the Naval Sea Systems Command program and completed B-TRAN shipments to the large companies in our test and evaluation program, representing a significant step in commercializing B-TRAN.”