Ideal Power reports Q1 EPS (39c) vs. (41c) last year

Reports Q1 revenue $78,739 vs. $664 last year. “Commercial momentum continues as we commenced shipments of SymCool power modules to fulfill customer orders in the first quarter. We expect industrial markets, particularly the solid-state circuit breaker market served by our SymCool power module, to be the earliest source of our sales ramp,” said Dan Brdar, President and Chief Executive Officer of Ideal Power. “In addition, all of our Phase II deliverables with Stellantis were successfully completed ahead of schedule and we added our first distributor, Richardson Electronics. They placed multiple orders with Ideal Power including an order from a company not previously in our sales funnel.”