10-Q Filing

Ideal Power Inc. CIK: 1507957 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-031954`
Period End Date	20230930
Filing Date	20231114
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	ipwr20230630_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 52 Cash Flow Statement 40 Stockholders Equity 35

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$65.94K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$100.00K	USD	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	5.95M	shares	Point-in-time
Common Stock, Shares, Issued (in shares)	`CommonStockSharesIssued`	5.93M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$491.37K	USD	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	5.95M	shares	Point-in-time
Common Stock, Shares, Outstanding (in shares)	`CommonStockSharesOutstanding`	5.92M	shares	Point-in-time
Prepayments and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$382.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.90M	USD	Point-in-time
Treasury Stock, Common, Shares (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.24M	USD	Point-in-time
Treasury Stock, Common, Shares (in shares)	`TreasuryStockCommonShares`	1,321.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$343.37K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$200.10K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.04M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.56M	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$202.47K	USD	Point-in-time
Right of use asset	`OperatingLeaseRightOfUseAsset`	$248.72K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.31K	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`	$14.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$130.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.95K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$690.65K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$254.22K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$64.60K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$69.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$449.32K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$823.74K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$202.99K	USD	Point-in-time
Long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$150.59K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.17M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$838.46K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.49M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,946,668 shares issued and 5,945,347 shares outstanding at September 30, 2023 and 5,926,001 shares issued and 5,924,680 shares outstanding at December 31, 2022	`CommonStockValue`	$5.95K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,946,668 shares issued and 5,945,347 shares outstanding at September 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
Additional paid-in capital	`AdditionalPaidInCapital`	$105.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$106.87M	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at September 30, 2023 and December 31, 2022	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Treasury stock, at cost, 1,321 shares at September 30, 2023 and December 31, 2022	`TreasuryStockCommonValue`	$13.21K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-94.64M	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`	$12.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$15.99M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$21.12M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.15M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$19.40M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$14.36M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$137.39K	USD	3 Qtrs
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$186.66K	USD	3 Qtrs
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$10.68K	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.56K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$114.19K	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$10.68K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$186.66K	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$2.79K	USD	1 Quarter
Gross profit	`GrossProfit`	$-1.23K	USD	1 Quarter
Gross profit	`GrossProfit`	$23.20K	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.34M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.69M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.34M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$780.15K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.36M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$854.02K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.68M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$768.96K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$660.02K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$207.44K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$870.19K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$293.96K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.89M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.35M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.35M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.84M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.87M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.76M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$318.92K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$55.24K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$99.28K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$52.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Net loss per share basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.44	USD	1 Quarter
Net loss per share basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-1.22	USD	3 Qtrs
Net loss per share basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.28	USD	1 Quarter
Net loss per share basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.86	USD	3 Qtrs
Weighted average number of shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	3 Qtrs
Weighted average number of shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.19M	shares	1 Quarter
Weighted average number of shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.16M	shares	1 Quarter
Weighted average number of shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.19M	shares	3 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$193.90K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$134.56K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$696.13K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.86M	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$100.10K	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$34.60K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-183.93K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-153.40K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$360.85K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-110.66K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-66.55K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$263.64K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$142.46K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.51M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.18M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$118.24K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$198.34K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$207.70K	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$88.64K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-206.88K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-406.04K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.72M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.58M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.76M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.35M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.17M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.76M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.17M	USD	Point-in-time

Stockholders Equity 35 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$17.91M	USD	Point-in-time
Balances	`StockholdersEquity`	$12.22M	USD	Point-in-time
Balances	`StockholdersEquity`	$15.99M	USD	Point-in-time
Balances	`StockholdersEquity`	$14.33M	USD	Point-in-time
Balances	`StockholdersEquity`	$21.12M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.58M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.15M	USD	Point-in-time
Balances	`StockholdersEquity`	$19.65M	USD	Point-in-time
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$100.10K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$609.93K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$623.28K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$231.76K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$230.47K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$233.89K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$626.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.55M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.28M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.30M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Vesting of restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Balances	`StockholdersEquity`	$17.91M	USD	Point-in-time
Balances	`StockholdersEquity`	$12.22M	USD	Point-in-time
Balances	`StockholdersEquity`	$15.99M	USD	Point-in-time
Balances	`StockholdersEquity`	$14.33M	USD	Point-in-time
Balances	`StockholdersEquity`	$21.12M	USD	Point-in-time
Balances	`StockholdersEquity`	$22.58M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.15M	USD	Point-in-time
Balances	`StockholdersEquity`	$19.65M	USD	Point-in-time

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