Ideal Power reported a Q4 net loss of USD 1.9 million, narrowing 27% year over year, and had no revenue. FY net loss was USD 10.58 million, widening 5% year over year, on revenue of USD 37,728, down 56%. Q4 operating expenses were USD 1.95 million, down 29% year over year, driven mainly by lower stock-based compensation and personnel costs. Cash and cash equivalents were USD 6.13 million at year-end, and the company said it raised USD 12.6 million in estimated net proceeds from a public offering and concurrent private placement that closed in February. Management cited progress on its B-TRAN commercialization roadmap, including a multi-year strategic cooperation agreement with Lazzen for B-TRAN-enabled circuit protection solutions and a letter of intent with an Asian power module maker to manufacture and offer B-TRAN-based power modules.

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