IPWR Ideal Power Inc.

Overview and Growth

Ideal Power Inc. generated $37.73K of revenue in fiscal 2025, with net loss of $10.58M and an operating cash outflow of $9.14M. At $37.73K, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $86.03K in fiscal 2024, revenue decreased 56.1%, a top-line contraction that reduced operating scale. At period end, total assets were $10.05M, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.0x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The company recorded a $22.68K gross loss after reported cost of revenue. Gross margin was -60.1%, reflecting direct costs that exceeded revenue by 60.1%. Operations produced a $10.93M operating loss before non-operating and tax effects. The company ended the period with a net loss of $10.58M, extending the operating result through all remaining items. EBITDA was negative $10.56M, showing a deficit before interest, taxes, depreciation, and amortization. Income tax expense totaled $1.30K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 134.3%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 105.3%. The net loss widened to $10.58M from $10.42M in fiscal 2024.

Liquidity and Capital Structure

At period end, the $10.05M asset base was financed through $2.17M of liabilities and $7.88M of equity. At period end, current assets of $6.54M compared with current liabilities of $973.16K, defining the company’s short-term resource position. Current assets covered current liabilities by 6.72x, leaving a positive buffer for near-term obligations. The company held $6.13M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 629.8%, excluding receivables and other current assets. The equity-to-assets relationship was 78.4%, placing book capital against the total resource base. The liabilities-to-assets relationship was 21.6%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 61.0%, comparing reported cash and equivalents with the full positive asset balance. Compared with $19.83M in fiscal 2024, the current asset base moved 49.3% and finished lower. Against $17.86M of equity in fiscal 2024, the current book-equity balance moved 55.9% and ended lower. Compared with $15.84M in fiscal 2024, the current cash balance moved 61.3% and finished lower.

Cash Flow and Earnings Quality

Operating activities used $9.14M of cash, resulting in an operating cash outflow for the year. The company spent $119.48K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. The company recorded a $9.25M cash deficit after capital spending for the period. The cash deficit after capital spending represented 92.1% of the period-end asset base. Compared with a $8.74M operating cash outflow in fiscal 2024, the current outflow increased to $9.14M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.