14 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 38.5% per year over the past 5 years.
Operating margin has contracted, at -28979.0% in the latest year.
Financial health
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$37728
-$11M
-60.1%
-28979.0%
-134.3%
-105.3%
-$9M
—
$6M
2024
$86032
-$10M
-8.6%
-12868.7%
-58.3%
-52.5%
-$9M
—
$16M
2023
$198871
-$10M
19.2%
-5205.4%
-98.9%
-81.3%
-$7M
—
$8M
2022
$203269
-$7M
0.0%
-3612.4%
-40.1%
-37.1%
-$7M
—
$16M
2021
$576399
-$5M
0.0%
-841.3%
-19.8%
-18.4%
-$4M
—
$23M
2020
$428129
-$8M
0.0%
-950.2%
-203.5%
-151.9%
-$3M
—
$3M
2019
$0
-$4M
—
—
-101.0%
-74.6%
-$3M
—
$3M
2018
$0
-$8M
—
—
-171.9%
-128.2%
-$7M
—
$3M
2017
—
-$10M
—
—
-90.1%
-76.9%
-$7M
—
$10M
2016
—
-$11M
—
—
-151.7%
-122.0%
-$10M
—
$4M
2015
—
-$10M
—
—
-62.6%
-54.2%
-$9M
—
$15M
2014
—
-$7M
—
—
-76.1%
-67.1%
—
—
$8M
2013
—
-$10M
—
—
-64.4%
-60.3%
—
$0
$14M
2012
—
-$5M
—
—
4583.3%
-144.9%
—
$2M
$2M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$5800
-$3M
30.9%
-62468.1%
-8.0%
-7.6%
-$2M
—
$41M
Mar '26
$0
-$4M
—
—
-20.4%
-17.8%
-$2M
—
$16M
Dec '25
$0
-$2M
—
—
-24.1%
-18.9%
-$2M
—
$6M
Sep '25
$24450
-$3M
-6.6%
-12353.0%
-29.2%
-24.1%
-$3M
—
$8M
Jun '25
$1275
-$3M
-172.7%
-246313.2%
-23.8%
-20.3%
-$2M
—
$11M
Mar '25
$12003
-$3M
-157.1%
-23534.4%
-17.4%
-15.4%
-$2M
—
$14M
Dec '24
$5408
-$3M
-9.6%
-51009.2%
-14.5%
-13.1%
-$3M
—
$16M
Sep '24
$554
-$3M
-172.7%
-523399.1%
-13.3%
-11.9%
-$2M
—
$19M
Jun '24
$1331
-$3M
-1212.8%
-216830.4%
-12.4%
-11.4%
-$2M
—
$20M
Mar '24
$78739
-$2M
13.0%
-3209.3%
-11.4%
-10.3%
-$2M
—
$20M
Dec '23
$61483
-$2M
24.5%
-4041.6%
-23.9%
-19.6%
-$2M
—
$8M
Sep '23
$1557
-$3M
-79.0%
-182386.4%
-22.4%
-19.1%
-$2M
—
$11M
Jun '23
$135167
-$2M
18.1%
-1766.8%
-15.9%
-13.8%
-$2M
—
$13M
Mar '23
$664
-$3M
0.0%
-397483.0%
-15.8%
-14.4%
-$2M
—
$15M
Dec '22
$16608
-$2M
0.0%
-11978.0%
-10.6%
-9.7%
-$2M
—
$16M
Sep '22
$10675
-$2M
0.0%
-16454.8%
-8.7%
-8.0%
-$2M
—
$18M
Jun '22
$50978
-$2M
0.0%
-3327.3%
-8.0%
-7.4%
-$2M
—
$20M
Mar '22
$125008
-$2M
0.0%
-1520.6%
-8.4%
-7.8%
-$1M
—
$22M
Dec '21
$128605
-$1M
0.0%
-1100.2%
-5.9%
-5.5%
-$1M
—
$23M
Sep '21
$121028
-$1M
0.0%
-1019.3%
-4.9%
-4.5%
-$1M
—
$24M
Valuation over time
How the market has priced IPWR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has risen from 842.5× (Mar '23) to 2051.7× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is IPWR growing its revenue and profit?
Over the past 5 years, Ideal Power Inc.'s revenue has declined 38.5% per year. These are computed facts, not advice.
How much debt does IPWR have?
As of FY2025, Ideal Power Inc. reported — of total debt against $6M of cash.
What is IPWR's profit margin?
In FY2025, gross margin was -60.1%, operating margin -28979.0%, and net margin -28038.6%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.