Ideal Power, Inc. (NASDAQ:IPWR) Q2 2023 Earnings Conference Call August 10, 2023 10:00 AM ET

Company Participants

Jeff Christensen - IR

Daniel Brdar - CEO, President & Director

Timothy Burns - CFO, Secretary & Treasurer

Conference Call Participants

David Williams - The Benchmark Company

Jeffrey Grampp - Alliance Global Partners

Operator

Good morning, ladies and gentlemen, and welcome to the Ideal Power Second Quarter 2023 Results Call. [Operator Instructions]. As a reminder, this event is being recorded. I would now like to turn the conference over to Jeff Christensen. Please go ahead.

Jeff Christensen

Thank you, operator, and good morning, everyone. Thank you for joining Ideal Power's Second Quarter 2023 Conference Call. With me on the call are Dan Brdar, President and Chief Executive Officer; and Tim Burns, Chief Financial Officer. Ideal Power's second quarter 2023 financial press release is available on the company's website at idealpower.com.

Before we begin, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and industry prospects, are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to the company's SEC filings for a list of associated risks. And we will also refer you to the company's website for more supporting industry information.

Now I'll turn the call over to Ideal Power's President and CEO, Dan Brdar. Dan?

Daniel Brdar

Thank you, Jeff. Good morning, everyone, and welcome to our second quarter 2023 financial results conference call. I'll update you on our progress since the start of the second quarter, including the successful completion of all of our first half 2023 milestones as well as our priorities for the balance of the year to commercialize our B-TRAN semiconductor technology. And then Tim Burns, our CFO, will take you through the numbers, after which we'll take your questions.

The second quarter and all of 2023 thus far were transformative in our transition from a technology development company to a commercial company, included some of the most significant accomplishments in the company's history as we continue to advance our aggressive B-TRAN commercialization road map. We're thrilled about our recent success in five major areas. First, we successfully completed the full process flow engineering run as we proved that our B-TRAN device was manufacturable at our high-volume wafer fabrication supplier with high yield and excellent device performance.