Ideal Power Inc. (NASDAQ:IPWR) Q3 2023 Earnings Call Transcript

Jeff Christensen: How many B-TRAN devices have been shipped to the evaluation partners? And any comment about — any more comment about pricing, margins and how do we think about that?

Dan Brdar: So several hundred tested B-TRAN devices have been shipped to potential customers. We’re not going to go down and provide a specific quantity shipped each quarter, each year, but it’s several hundreds devices and we have wafer runs going now that will produce many, many hundreds of devices here for really to support things like the SymCool build and also Phase 2 development agreement. In terms of pricing, so we’re not going to go out there and put the price of B-TRAN as X, because that’s just going to kill us from negotiating standpoint. Each opportunity is different, the size of each opportunity is different, the importance of each opportunity is different and all those things will be considered when we’re pricing the product.

If you look at a B-TRAN die or die in general, I mean, it’s tens of dollars. If you’re looking at a IGBT power module that would compete with a SymCool or SymCool IQ, you can be talking $200, $300. So we’ll be market competitive in terms of pricing, but we’re not going to disclose our pricing because that would hurt us in negotiations with companies when we are at the point where we have commercial agreement for large volumes. But for perspective $200 to $300 module price and again [Indiscernible] higher tens of dollars, so if you look at it that way. And then margins, we said at volume 50% it’s our target for gross margins absent the benefit of licensing, and licensing will be incremental to that 50% target.

Jeff Christensen: Thank you. It looks like all the questions we have. Dan, do you have any closing remarks?

Dan Brdar: No, I just want to thank everybody for joining our call today. We made great progress on our path to commercialize our technology and our talented team is on track for a very successful 2023 and 2024. And we look forward to some commercial announcements in advance of our next update call, and we’ll continue to actively share our story with the investment community. Operator, you may end the call.

Operator: Certainly. Thank you. This does conclude today’s conference. All parties may disconnect at this time. Have a great day.