Ideal Power reports Q4 EPS (39c) vs. (31c) last year

Reports revenue $61.5M vs. $16.6M last year. “We made great progress delivering against our B-TRAN commercial roadmap in 2023 and that progress has continued into 2024,” said Dan Brdar, President and Chief Executive Officer of Ideal Power. “Strong momentum continues with participants in our test and evaluation program, particularly for solid-state circuit breaker and hybrid and electric vehicle applications. We expect to convert large OEMs into design wins and/or additional custom development agreements this year.” Brdar continued, “We recently completed Phase II of our development agreement with Stellantis and commenced shipment of SymCool power modules to fulfill customer orders. We expect industrial markets, particularly the solid-state circuit breaker market served by our SymCool(TM) power module, to be the earliest source of our product sales ramp.”