AUSTIN, Texas - Ideal Power Inc. (NASDAQ:IPWR) reported a wider-than-expected loss for the first quarter, amid ongoing investments in commercializing its B-TRAN technology.
The semiconductor developer's shares tumbled 22% in pre-market trading. R&D spending outpaced revenue generation.
The company posted a loss of -$0.33 per share, missing estimates of -$0.29. Net loss widened to $3.6 million from $2.7 million a year ago.
Operating expenses rose to $3.7 million from $2.8 million, driven by stock-based compensation and personnel costs.
Despite the miss, Ideal Power reported progress with its B-TRAN bidirectional switch. It initiated two additional projects with a lead Asia customer for solid-state circuit breaker prototypes.
It also signed a letter of intent to co-develop a B-TRAN prototype for a U.S. hyperscaler supporting NVIDIA Rubin Ultra 800V DC AI data center architecture. Delivery is targeted for Q4 2026.
President and CEO David Somo said, "The industry's transition toward high-voltage DC power architectures is real. B-TRAN is uniquely positioned to address these opportunities."
Cash and equivalents totaled $16.4 million with no long-term debt.
