Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.63M | $0.00 | $0.00 | $0.00 | $428K | $576K | $203K | $199K | $86.0K | $37.7K |
| Revenue growth | — | -100.0% | — | — | — | 34.6% | -64.7% | -2.2% | -56.7% | -56.1% |
| Gross profit | -$311K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $38.3K | -$7.38K | -$22.7K |
| Gross margin | -19.1% | — | — | — | 0.0% | 0.0% | 0.0% | 19.2% | -8.6% | -60.1% |
| Operating income | -$11.0M | -$4.23M | -$4.31M | -$3.12M | -$4.07M | -$4.85M | -$7.34M | -$10.4M | -$11.1M | -$10.9M |
| Operating margin | -676.4% | — | — | — | -950.2% | -841.3% | -3612.4% | -5205.4% | -12868.7% | -28979.0% |
| Net income | -$11.0M | -$10.4M | -$7.90M | -$3.93M | -$7.79M | -$4.77M | -$7.19M | -$9.95M | -$10.4M | -$10.6M |
| Net margin | -674.2% | — | — | — | -1820.5% | -827.6% | -3536.9% | -5005.3% | -12109.2% | -28038.6% |
| EPS (diluted) | -$1.15 | -$0.79 | -$5.64 | -$2.38 | -$2.20 | -$0.80 | -$1.17 | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.1M | -$7.42M | -$6.55M | -$2.53M | -$3.02M | -$4.28M | -$6.38M | -$7.13M | -$8.74M | -$9.14M |
| Capital expenditures | $391K | $64.7K | $1.09K | $4.25K | $13.9K | $44.3K | $183K | $241K | $197K | $119K |
| Free cash flow | -$10.5M | -$7.48M | -$6.55M | -$2.53M | -$3.03M | -$4.33M | -$6.57M | -$7.37M | -$8.94M | -$9.25M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.20M | $10.0M | $3.26M | $3.06M | $3.16M | $23.2M | $16.3M | $8.47M | $15.8M | $6.13M |
| Total assets | $9.00M | $13.6M | $6.17M | $5.27M | $5.13M | $25.9M | $19.4M | $12.2M | $19.8M | $10.0M |
| Total liabilities | $1.76M | $1.99M | $1.57M | $1.38M | $1.30M | $1.73M | $1.49M | $2.19M | $1.97M | $2.17M |
| Shareholders' equity | $7.24M | $11.6M | $4.60M | $3.89M | $3.83M | $24.1M | $17.9M | $10.1M | $17.9M | $7.88M |
| Retained earnings | -$45.1M | -$55.5M | -$63.4M | -$67.3M | -$75.1M | -$79.9M | -$87.1M | -$97.0M | -$107M | -$118M |
| Shares (wtd avg diluted) | 9.56M | 14.0M | 1.40M | 2.10M | 3.54M | 5.94M | 6.16M | 6.19M | 8.17M | 9.14M |
Every figure is extracted from Ideal Power Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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