10-Q Filing

Ideal Power Inc. CIK: 1507957 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001104659-23-089993`
Period End Date	20230630
Filing Date	20230811
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	ipwr-20230630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 58 Cash Flow Statement 38 Stockholders Equity 31

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.93M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.68M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	5.94M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.35M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.94M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	5.92M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$203.32K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$65.94K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$540.43K	USD	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$491.37K	USD	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Treasury stock, common shares	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$13.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$281.11K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$200.10K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.54M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.04M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$248.72K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$218.13K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.19K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.19K	USD	Point-in-time
Total assets	`Assets`	$19.40M	USD	Point-in-time
Total assets	`Assets`	$16.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$112.01K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$130.50K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$614.64K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$254.22K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$67.59K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$64.60K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$794.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$449.32K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$168.60K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$202.99K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.18M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$838.46K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,939,779 shares issued and 5,938,458 shares outstanding at June 30, 2023 and 5,926,001 shares issued and 5,924,680 shares outstanding at December 31, 2022	`CommonStockValue`	$5.93K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,939,779 shares issued and 5,938,458 shares outstanding at June 30, 2023 and 5,926,001 shares issued and 5,924,680 shares outstanding at December 31, 2022	`CommonStockValue`	$5.94K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$105.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$106.24M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2023 and December 31, 2022	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at June 30, 2023 and December 31, 2022	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-91.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-87.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$16.48M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$50.98K	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$175.99K	USD	2 Qtrs
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$135.17K	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$135.83K	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$175.99K	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$110.74K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$50.98K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$111.40K	USD	2 Qtrs
Gross profit	`GrossProfit`	$24.43K	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	$24.43K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.56M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.65M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$728.38K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$933.99K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$734.64K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.83M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$271.90K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$576.23K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$233.15K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$452.58K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.60M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.05M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.03M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.39M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.60M	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$2.46K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$6.18K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$219.65K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$108.34K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.81M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	$-0.27	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.78	USD	2 Qtrs
Net loss per share - basic	`EarningsPerShareBasic`	$-0.37	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.58	USD	2 Qtrs
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.27	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.58	USD	2 Qtrs
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.37	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.78	USD	2 Qtrs
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	2 Qtrs
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.18M	shares	2 Qtrs
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	1 Quarter
Weighted average number of shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.19M	shares	1 Quarter
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.19M	shares	1 Quarter
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.18M	shares	2 Qtrs
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.16M	shares	2 Qtrs
Weighted average number of shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.16M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.81M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$89.05K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$121.42K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$462.24K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.23M	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.10K	USD	2 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-86.10K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$137.39K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$189.26K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$18.48K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-112.74K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-18.49K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$77.63K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$219.03K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.41M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.08M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$114.03K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.25K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$55.67K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$139.84K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.92K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-253.86K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.66M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.15M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.17M	USD	Point-in-time

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$17.91M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$21.12M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$14.33M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$15.99M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Treasury Stock, beginning balance	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury Stock, beginning balance	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury stock, beginning balance (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Treasury stock, beginning balance (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.10K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$623.28K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$230.47K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$609.93K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$231.76K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.81M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.59M	USD	2 Qtrs
Ending balance	`StockholdersEquity`	$17.91M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$21.12M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$24.15M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$14.33M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$15.99M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$22.58M	USD	Point-in-time
Treasury Stock, ending balance	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury Stock, ending balance	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury stock, ending balance (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Treasury stock, ending balance (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.