Ideal Power(IPWR)2025-02-28 00:59Financial Data and Key Metrics Changes - The fourth quarter cash burn was 2.1 million in Q4 2023 and 8.2 million, also at the low end of guidance [51] - Cash and cash equivalents were 2.6 million, compared to 10.4 million, up from 1.4 billion serviceable addressable market [12] - Orders were received from a tier-one automotive supplier for B-TRAN devices and SimCool power modules, indicating strong interest in electric vehicle applications [13] Market Data and Key Metrics Changes - The solid-state circuit breaker market is projected to grow due to the increasing demand for semiconductor-based solutions in renewable energy and electric vehicles [33][35] - The automotive market is seeing engagement from three tier-one suppliers and several global automakers, with a focus on EV contactor applications [38][40] Company Strategy and Development Direction - The company aims to ramp sales and achieve positive cash flow and profitability through key milestones, including securing additional design wins and increasing current ratings of products [22][25] - The strategy includes expanding partnerships with large global companies and enhancing customer engagement in solid-state circuit breakers and EV contactors [7][49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025, citing positive customer feedback and an expanding pipeline of potential design wins [7][49] - The company remains confident in its technology's ability to meet the needs of the automotive and industrial markets despite potential regulatory changes in the U.S. [40][41] Other Important Information - The company has a robust patent portfolio with 94 issued patents, enhancing its competitive position in the market [45][46] - Third-party automotive qualification testing is ongoing, with positive results to date, which will support future sales to both automotive and industrial customers [21][32] Q&A Session Summary Question: Revenue expectations from the SSCB customer - Revenue of several hundred thousand is expected in the first year of sales, starting from the product launch [61][62] Question: Number of additional SSTB customers in evaluation - Over half a dozen large companies are currently evaluating the technology for solid-state circuit breaker applications [64] Question: Potential for more design wins in 2025 - The company is targeting additional design wins in 2025 [67] Question: Details on the EV contactors program with Stellantis - The program will take longer, but funding is expected in 2025 [69] Question: Insights from the program review with Stellantis - The review highlighted the need for a low-loss solid-state EV contactor, with positive feedback from Stellantis [78][79] Question: Current headcount and expected growth - Current headcount is 16, expected to grow to around 20 by the end of the year, with plans to add more sales personnel [102] Question: Automotive qualification testing standards - Automotive standards allow for a certain number of failures during testing, and the company is currently seeing no die failures [106] Question: Opportunities in hybrid vehicles - The focus is currently on full electric vehicles, but there is potential for hybrid opportunities as relationships develop [110]