Ideal Power Inc 2026年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number001-36216 IDEAL POWER INC.(Exact name of registrant as specified in its charter) Delaware14-1999058(State or other jurisdiction of(I.R.S. Employerincorporation or organization)Identification No.) 5508 Highway 290 West, Suite 120Austin, Texas 78735(Address of principal executive offices)(Zip Code) (512) 264-1542(Registrant’s telephone number, including area code) (Former name, former address and former fiscalyear, if changed since last report) Securities registered pursuant to Section12(b)of the Act: Name of each exchange on which registeredThe Nasdaq Capital Market IPWR Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files). Yes☒No☐ Table of Contents Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b‑2 of the Exchange Act. Large accelerated filer☐ Non-accelerated filer☒ Smaller reporting company☒ Emerging growth company☐ If an emerging growth company, indicate by check mark whether the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicate by check mark whether the issuer is a shell company (as defined in Rule12b‑2 of the Exchange Act). Yes☐No☒ As of May 10, 2026, the issuer had 12,155,901shares of common stock, par value $0.001, outstanding. TABLE OF CONTENTS PARTI FINANCIAL INFORMATION3Item 1.Unaudited Condensed Financial Statements3Condensedbalance Sheets at March 31, 2026 and December31, 20253Condensed statements of Operations for the three months ended March 31, 2026 and 20254Condensed statements of Cash Flows for the three months ended March 31, 2026 and 20255Condensed statements of Stockholders’Equity for the three months ended March 31, 2026 and 20256Notes to Condensed Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations12Item 3.Quantitative and Qualitative Disclosures About Market Risk15Item 4.Controls and Procedures15PARTII OTHER INFORMATION16Item 1.Legal Proceedings16Item 1A.Risk Factors16Item 2.Unregistered Sales of Equity Securities and Use of Proceeds16Item 3.Defaults Upon Senior Securities16Item 4.Mine Safety Disclosures16Item 5.Other Information16Item 6.Exhibits17SIGNATURES18 PARTI-FINANCIAL INFORMATION ITEM1. CONDENSED FINANCIAL STATEMENTS IDEAL POWERINC.Condensed Balance Sheets(unaudited) IDEAL POWERINC.Condensed Statements of Operations(unaudited) Three Months EndedMarch 31,20262025Revenue$—$12,003Cost of revenue—30,862Gross loss—(18,859) IDEAL POWERINC.Condensed Statements of Cash Flows(unaudited) IDEAL POWERINC.Condensed Statements of Stockholders’EquityFor the Three Months Ended March 31, 2026 and 2025(unaudited) IDEAL POWER INC.Notesto Condensed Financial Statements(unaudited) Note1–Organization and Description of Business Ideal Power Inc. (the “Company”) was incorporated in Texas in May 2007 under the name Ideal Power Converters, Inc. TheCompany changed its name to Ideal Power Inc. and re-incorporated in Delaware in July 2013. With headquarters in Austin, Texas,the Company is focused on the further development and commercialization of its Bidirectional bipolar junction TRANsistor (B-TRAN®) solid-state switch technology. Since its inception, the Company has financed its research and development efforts and operations primarily through the saleof common stock and pre-funded warrants. The Company’s continued operations are dependent upon, among other things, itsability to obtain adequate sources of funding through future revenues, follow-on stock offerings, issuances of warrants, debtfinancing, co-development agreements, government grants, sale or licensing of developed intellectual property or otheralternatives. Note2–Summary of Significant Accounting Policies Basis of Pre