Ideal Power reports $3.6 million Q3 loss as it courts AI data center customers

Ideal Power, which makes the B-TRAN bidirectional semiconductor power switch, reported a third-quarter net loss of $3.6 million, up from $2.9 million a year earlier, according to its results release. Cash and equivalents were $38.3 million at the end of September.

The Nasdaq-listed company is pitching its switches for solid-state circuit protection as data centers move to higher-voltage DC power architectures. CEO David Somo said customer engagements expanded across AI data centers and energy infrastructure. Since the start of the quarter it has shown an intelligent circuit breaker prototype built with Power Integrations, started shipping B-TRAN reference design kits, and advanced a funded engineering study with an industry partner to build a simulation platform for a US hyperscaler. It is also still working on an electric vehicle opportunity with Stellantis.

Quarterly revenue is still in the thousands of dollars.