IPWR - Earnings call transcript Q4 2020

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Operator

Good day. And welcome to the Ideal Power Fourth Quarter 2020 Results Conference Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Carolyn Capaccio from LHA. Please go ahead.

Carolyn Capaccio

good and Kevin, you, afternoon, everyone. Thank for call. you joining Ideal conference XXXX quarter fourth Power’s Thank on line Financial me Officer; With the and Chief President Tim Executive and Burns, Chief Officer. are Dan Brdar, full-year Ideal Power’s available the website company’s financial press idealpower.com. release on XXXX at fourth is results and quarter

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

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

Dan Brdar

semiconductor burns, sustained offering into and with will by sheet prospects reality. take those large everyone. excitement CFO, and by results to moving toward numbers. Thank addressing mid-XXXX as B-TRAN welcome growing the about in for our our Good NAVSEA Carolyn. we to continued Then you market our a work you prospects for make strengthened our strategy and an describe the our quarter XXXX, for demonstration giving completion our call. toward which a our afternoon, conference progress differentiated momentum our update on technology to balance fourth help B-TRAN and you, our Tim our financial recent achievements B-TRAN our And equity I’ll commercialization. complete are with to XXXX commercialize technology. a full-year the strategy a I'll XXXX towards device final program and the of architecture and to Throughout in commercialization also XXXX enable objectives steps are through begin goals,

our States with work with discussion Navy. United our start Let’s

Systems or Command collaboration schedule. Sea with Naval the for or Diversified in Technologies on remains DTI work Our NAVSEA

we U.S. As signed and a background, direct XXXX, with subcontract million demonstration of on as the purpose is on charge The development B-TRAN accelerate medium breaker which $X.X of the DTI a is Defense’s funded Fund. a enabled Department of in the second the voltage circuit ship on part Innovation quarter contract strategic the electrification. Rapid of of high-impact high-value commercialization focus Navy's The to technologies. of

enabled subsequent a with circuit voltage project B-TRAN for NAVSEA is industrial sale to family the demonstrate introducing Our military, incorporating direct circuit intended the B-TRAN markets. from and utility objective medium high-efficiency of develop of voltage medium to a for with DTI Navy, and current products, breaker DC XX-kilovolt a U.S. breaker

wafer at B-TRAN and by developed for selected packaging devices. quarter, the recently will for wafers we The we're for testing process we fourth in lab-based manufacturing you and second program. University process NAVSEA and into run design this under improvements for dicing Teledyne’s the and first last testing receipt on these selecting completed in are the and wafers fabrication now major second dicing using into Austin device utilize run and in design new and our packaging were milestone and incorporating tested packaging As with fabrication manufacturing improvements design design. of Texas packaging results we into and the the wafers B-TRAN The incorporated subsequent our devices runs. from program, call, discussed Teledyne We major the and the this completed the the milestone the by conducted those packaging program the first during of run from

in of of six mid-XXXX. a delivery The in the device five MVDC process planned with late program, year quarters aiming we a demonstration iterative. two breaker XXXX optimized the total development for final over runs XX is Over kilovolt

multiple of manufacturability. theoretical purpose performance runs maximum successive manufacturability. device We performance The is and fabrication fabrication to are its between for performing device runs design and these trade-offs the to set wafer optimize the

of run modified similar to to in and Under upon factor Semiconductor is The semiconductor projects Teledyne, the quarter, fourth during ability previously, Texas Power major package lab-based to-date. firm, Austin's progress Electronics the engineering is for design product new the quarter commonly the B-TRAN and program. packaging which packaging and fabrication initial been next our will new B-TRAN die manufactured available utilized completed management, on has Center electrical sampling enhance B-TRAN through form improves program high will packaging. at device intended a this its into XXXX. the commercial the is to used we’ve prototype volume. to packaging In and begun be required device IGBTs the program milestone University under to The Austin connections, collaboration packaging design. provide design be its positive for to end and a The future the packaging continue receive NAVSEA customer commercial be our in NAVSEA dies the into design with in user design of NAVSEA those was incorporate a thermal the encapsulate program, of a the new We've by completed expected with third NAVSEA these UT for second multiple to feedback and an

liquid conducting continues validation being without the systems. using devices And As and noise size, continuously and Navy ship large benefit program. cooling complex, and Distributed lower lowering their power And very stealth and over substantial enhance offers our capabilities. vulnerable electrification such loss B-TRAN improve excited efficiency high ship and flexibility heavy of ships their priority as energy the on a the semiconductor attacks in makes less it as a signature enhancing cost. by commercialization made reduction NAVSEA about operational this operations, their We're significantly the reminder, to heat is IGBTs progress overall under efforts. them can to technology initiative progress

device resulting announced the talented B-TRAN design Semiconductor switching also semiconductor work losses. of driver also to at faster Austin, power generation removes program. some the our month, The Alex the our improvement Center and closely as Huang, driver. has of new that power version from earlier included purely XX%. over this been supervised the significantly The who in laboratory design the engineering driver testing. the programming fabricated Power a lab University designed Electronics also post-doc for version of During by of by feedback and the purposes adds driver, new B-TRAN the in at including been reduce lower leader laboratory the were Texas footprint a operating sampling incorporating post-docs the an performance and The to fabricated first the world driver the of are tested through and and turn-off, the electronics. of the The capabilities Semiconductor prototype quarter, features the for we additional Dr. of driver designed use prototype an Center renowned completed expert and driver has of a debugging initial being fabricated additional Subsequently, in new commercial fourth Power Electronics devices the in [yields] version also switching

B-TRAN's than commercialization. general intelligent them power we end by allow potential fabricating across device, market the devices. that is need driver dedicated to B-TRAN B-TRAN The with and driver program. is part as module ready customers packaging module determine technical driver of a into do architecture for design commercial sided prototype that and program to device engineering rather so of and power potential double development designing device as this plan a the feedback us bring an discrete sets for B-TRAN a removes can adoption. complete, design, feature samples engineering our unique prototype intelligent step our design facilitating customers of our the the This driver, feedback be design test-ready now a new the device applications evaluation XXXX B-TRAN priorities. sampling then the gather to packaging engage our and well Our presenting engineering an accelerate incorporated will and in commercialization in With Offering crucial column the as will the sampling to of requirements their samples. provide with to with we're users on developing, should

for electric been several our engineering quality running. the customer renewable engaging relationships. exciting program to we Thanks background, relationships added high markets, actively potential our joined customer to vehicle profile which customer we're closure. in about development companies formalize strong able the for the senior being a targets Bringing background forward devices, to in successful received So sampling then, of President Business who business Vice Development, and we numerous late requests and of He’s able we customers, more as is and ground customers an hiring with looking hit as in engaged begin targeting team business February. collaborating we're target impressive institutions We're highest customer program. for dedicated announced as inbound our sampling semiconductor to list, of our customers the silicon we sampling sales Power as priority with his Ideal drive step both on commercialization. with just high and program the recently carbide and establish prioritized the an beings agreements and development the from Knapp two talk forward subsequent Jeff leader markets for to energy and silicon to the well for relationships, and

of pending patents, the XX issued at XX outside currently XX have state. B-TRAN quarter patents. the Looking than one patent B-TRAN issued the States United and of We with those last in more

includes India. into America, coverage geographic North and South to Europe, and expand China, Korea Our potential Japan, coverage with

B-TRAN, As with protection process, was the that in U.S. device part identified Patent patent the we Office. investments enhance and of protection development filed performance for capability driver improvements of the these

a circuit to catalytic twofold: DTI breaker demonstration designs Our with focus delivery, from strategy, for the delivery as program our product conventional a collaboration B-TRAN’s use variety smaller energy as DC XXXX of remains including, applications, can solar to achieve state now corporation changer engineering and the B-TRAN and opportunity. agreements breaker XXXX. energy we to putting to switches, targeting high performance renewable prepare higher the B-TRAN in power transmission game respect industrial in intelligent significant with related DC and and wind participants, OEM on in With voltage sampling commercialization, higher view storage. respect enable commercialization and characteristics including cooling into for a objectives the for solid our feedback program NAVSEA, commercial prospective is technology from XX With we systems, device in for potential generation utility with a as in microgrids, as and MVDC customers late we’ve underway the requirements, for needing that progress order military, networks XXXX. mid-XXXX; initial our over lower distributed we staging multiple electrical application. kilovolt engage and towards sales Its discussed XXXX potential efficiency program wide across is targeted place to and in continue as B-TRAN sample begun NAVSEA in an module of power to under gather distribution think our I optimized

energy design. expect a commercializing customers grow establishing potential by will commercialization with laying recently on to development also incorporating commercial market timeline XXXX. build by revenue perspective for billion billion in commercial momentum foundation similar our The vehicle these as within products. to B-TRAN and though spaces in milestone focus charging, $X already the estimated vary high Our the design and a different a on cycles IGBT even to continue market we Since sampling strategic, commercial the Overall, the will sales future B-TRAN streams. to evaluation from power to over The is market B-TRAN IGBT efforts periods will target customers, $X.X program. partnerships. and for and have our segments And engineering commercial driver, and add completed energy second that supplies. The applications created NAVSEA, packaging market solar for we while include new achieved as electric technologies data wind initial sampling key manufacturing-ready plan to vehicles we electric simultaneously storage, transition program and vary markets to sales individual segments and time, applications, a dedicated applications sampling center interruptible with growth and and already their for for customers, technology into the

to to we agreements initial XXXX. months expect sampling agreements first in announcing commercial in the coming targeting to start lead that We revenue expect commercial

and of sampling be our Our testing support customer strong of efforts sheet and program. balance to us for targeting partner the will our lower wafers lower size positions we're technology an all, multi-factoral and to and belief results conduction with that’s improved In Ideal its corporations attractive costs user management. underscore die bidirectional switching B-TRAN capability, potentially in and losses, transformational unique Power’s switching B-TRAN

to of market these while demand needs advantages, the in ability high immediate growth, applications solve With has high B-TRAN segments. the power enabling both markets electronic new

to progress key engaging in strategy, a on entering prototype are now our sampling continue and our We commercialization well our step plans program. engineering prospective in customers

enter And patented that as address we make our differentiated can with a technology future. we're excited about our rapidly As a have and vision a XXXX, sheet very a strong balance to large growing reality. market, we

the full over quarter Officer, year financial Financial XXXX to a Tim call Tim? Burns, Now, Chief for and fourth I'd like our review to results. hand our

Tim Burns

million a grant spending. grant compared development Full-year to full-year approximately quarter of $XXX,XXX net in and expenses revenue operating financial higher to $X.X million core to and B-TRAN the to Thank grant research operating related cash million you, in sold expenses million, million, fabrication full well $X.X per we June. The the increase million from down In used XXXX we fourth $X.X development will increase $X were XXXX, rate year fourth the totaling work operating in and activities the of recorded in quarter operating quarter which used was September began expense. quarter, was in XXXX third activities continued spending, in XXXX with million, XXXX, million, and due research of our expenses. the $X.X the cash XXXX contract, was the NAVSEA operating for used in the of of XXXX. to non-cash million, of consistent Fourth is loss Full-year driver as full-year compensation in $X.X operating compared in million compared revenue review higher Fourth $X.X year demonstration forecasted to were was loss full as and year XXXX higher $X.X expenses quarter under result development compared quarter in fourth quarter Net of quarter $X.X inclusive year XXXX XXXX offsetting XXXX. XXXX. operations, stock in a of million was $X.X warrant late to full relating full-year expense the as XXXX. on wafer PPSA The million as XXXX which expense costs $XXX,XXX $XXX,XXX XXXX. the burn cash $X.X that in inducement in operations loss activities to project funded we net non-cash compared loss of DTI fourth quarter the with for XXXX. in discontinued results. of Dan. $X.X The revenue in quarter operating Navy we included I $X.X flat million, fourth Fourth approximately the from

stock offering additional other exercises, of XXXX, additional we warrants. raised early During million net warrant and cash share, shares completed year as $X.X in an the warrant underwritten from other August, XXXX equivalent temporarily pandemic. the the in raised applied net of our totaled or Program in loan as exercise XXXX, impacted Also points will equivalents received $XX.X expectation as Paycheck exercise exercises. that business August, the facilities there Protection our for for will forgiven, X.X the proceeds subsidize transaction forgiveness from for as cash Cash is million an while in for one million costs million. [X completed loan well February second in an We an the cannot to from well proceeds million $XX quarter], be we additional landscape in in warrant per completed forgiveness million from to we $X.X the of be $X.X our end by granted cash COVID-XX payroll recently PPP we Subsequent through the that in of loan. provide end part. assurance common at February And $X.X we this public whole and of and

B-TRAN a on sampling expanding to our Two, and additional on previously on technical public proceeds support and few expertise started additional our focus program, plan build to: the commercialization. resources customer for our President additional these in resources commercial team, team, customer offerings on modestly Vice we third with bringing corporate we’re sampling from to of Business program, facing out provide additional to our fabrication capabilities internal the companies of relied qualifying Board expect use part business, We four, of Three, to in front partner. domestic hiring parties. a build Knapp on the working underwritten warrant as on And exercises engaging Jeff now purposes. that portion including talent capital customer with bringing our and and large general One, to We which semiconductor Development. our end XXXX where

result our upward trend of activities in commercialization the these we B-TRAN overall quarterly cash a enable XXXX. an our As burn technology in designed to in expect moderately of XXXX,

For the activity cash approximately XXXX. from first $XXX,XXX to compared to burn used in quarter expect quarter per $XXX,XXX of cash $XXX,XXX XXXX, approximately we in operating

XXXX, activities burn cash of depending For $X mentioned. commercialization operating pace of cash that year modestly full just in we although expect approximately activities currently our I the used higher on the the million, maybe

As have of XX, and offering of warrant underwritten million public as a February common result exercises, stock XXXX, and shares we outstanding. X.X the of

like burn for have a Operator? of stock we the With well questions. million. our liquidity, to the open was and that companies for partner sampling our expect participate to as to money XX, multiple particularly now call as March million unaudited I’d X.X ample warrants sheet fund At operations we At in customer in larger cash this of our also February shares years well-capitalized outstanding, for given we time, options program. up a are $XX.X strengthened $X balance X.X have We outstanding the million fully our outstanding cash XXXX, million shares. balance diluted

Operator

today Benchmark from Roy Instructions] question comes Thank Our first with Ruben Company. you. [Operator The

Ruben Roy

Thank to happening and end you. great a quarters, drill runs a some about taking driver need sort about quarters, to through to additional your my progress out hear going, going at in the to bit over working It's to do get Thanks do NAVSEA. you data talk sampling driver? actual are next to going, and Congrats, Dan, runs several and progress 'XX. you help be other And getting sampling at wanted UT. I did you to for and kind programs. could the the several the few again, so us for happen timing questions to need needs sheet you over of your that you're with Teledyne upcoming puts as understand that in more of far the continued just you the have What the takes customers? Maybe the samples of on customers get your

Dan Brdar

Sure. There’s that of things are party a happening. whole

For performance driver. queue in information more be of are them features in those already already the we the device with and terms shared engaged off there'll that coming road, but driver the about in of some kind information with, the

For people to website bigger operation, information are that its to the product dimensions that a we're will the size, information putting device, about terms also the in be its package those physical that give itself. about in to together of but the also at terms looking we're visual on team technical and lot a be operating information likely parameters, information driver going things, the of sheet put was about candidates, of its

people's driver the actually having made the has in getting That's designed firm. third-party relates are and to that done samples of been we a PCB now tested, multiple it already copies physical hands, sense. by As already

NAVSEA those the additional devices it their get actually along. make it's the terms take be to satisfy they we’ll we'll run a and program, program. with are an up We'll some many be sampling of us be, for to needs it's because the have will then sampling to So flexibility have NAVSEA in the run we from go in we the for going use and portion to of really either not discussion those they going just program. more customer And cooperation, that what a be versus some used big to to as with or do will themselves, how NAVSEA into for will we let have of

Ruben Roy

markets, lab-based commercial just the also sort through has encapsulated that to some a to applications be improved already Maybe across designs is think of going some that mentioned work does you're on you how B-TRAN the is these a driver that to point of it IGBT. that end the be with sounds perspective, could package new market an from package footprint PCB about me how consistent at itself? you So design, of using. be encapsulation end in it similar going of which package going your some walk it's packaging the And And in to targeting? the these you're to packaging

Dan Brdar

those familiar that fourth are wide with For leads. discrete the an package lead IGBT will package itself, it just devices, instead with IGBTs, for a like look the three

you're is if looks dimensions, a fourth difference TO-XXX with what only familiar very much So like the it's same the that, connection. just like IGBT, for a

be physically For program, the B-TRAN soldered will the sampling the B-TRAN package and basically the is driver. the And packaged separate. to driver

can you you all want give test devices, the you of if one can can for -- So B-TRAN, those. and solder/desolder to use packaged multiple driver it’ll you you

the off is, applications, people of versus on B-TRAN loss IGV we IGBT specific for issues. on trading early to feedback for conduction of a do and those do tails, is getting have identical trade-offs, from devices the a to and that all we're manufacturers program expectation based so because what going that Our eliminates of the the also sampling is whether itself seeing B-TRAN lot don't engaging likely be the we're current nature with performance operating that typical the we're

value the future, application. foreseeable The same same. be will the least regardless B-TRAN the the likely at will So packaging of be the for

the going wafers to the fabricate…. that changes being actual that in some we have For have to most with package applications, just multiple bigger a work versus IGBTs. more And end we likely in to are may in die ultimately go reflected are driver compliant that up packages application-specific

Ruben Roy

And last just question had for a then I you. Kim. guess one I quick for the

of we later revenues. timing and to the of sort the on how commercialization think about 'XX and get stages Just as

products You guys additional DTI as have been flow this. breaker on you through talking about circuit potentially working with

see then devices in seeing And et that packaged some actual What's sale or kind and you circuit just we'll be timing terms beyond think we'll markets, of otherwise. industrial products breaker start think thinking out sales we'll to little and have of the of bit going other kind breakers Now B-TRAN in other see to maybe depend of your into see and you potentially circuit objectives cetera for a customers it's there we market. of do go 'XX? to of both as through revenue,

Dan Brdar

I two think probably from of One variety breaker really see B-TRAN while products. And bring wants see before sales sales. we'll actually to it is, comes circuit out B-TRAN we reasons. device a

the ability and to There's interest a does having out you're obligated cycle things. fact, in military But military seat. sell just a broadly. variety of the products Navy industrial and DTI's terms an more come for to longest not utility and with to In for of strong markets. That is them sales that's

DTI we So, our are for with the in not fortunately program. relationship constrained

unique So, actually at that the itself once are a and have. be segment. this they already an companies differentiated more something product with what think and industrial opportunity compared have successful, to And to demonstration will utility the I we'll would give them targeted engage that is actually, other

to for they going a I vehicle there's be earlier related B-TRAN power yet for module. greater we're But seeing, be to what think bringing to actually and opportunities integrated So, with I players things end are selling electric to expect be particularly charging, particularly renewable sell to electric vehicles, B-TRANs, have to those from who ultimately market. up multiple

Ruben Roy

you you interesting of technology? just understandable, found thing a funds, mentioned which on an how at kind areas as that kind Is wafer the sure was Tim. kind you're to Okay, otherwise, Teledyne are we potentially going there? closer you're progress fabrication for use excellent. quick get it the just driving domestic where there you follow-up that about One targeting you're making point? of with partner commercialization? did at of driving, couple qualification kind Great. partner? or additional Tim, all sources this the And of thinking note, a have something multiple is for an on that's Or of for given of I additional you What's

Tim Burns

trivial. if first a it. engaged that’s potentially whose we're and There's Yes, past I've from them Jeff volume of then a We things demand who it's in them going can couple will big, some wouldn't Ruben, successful technology, things that them. We're will past, second be let they me that customers the adopting Dan with an it if the that know add half We an we take sure don't to for done, in an of require things it to there run with a has some loss and matter right, to very the have our his of we were done is mitigation is thoughts. source, them team, not driving view want if source making be option, ability California things the impact earthquake, in Teledyne to also lose we Teledyne that is like fab as that wafers. we own that example, will they excel, they'll require a But supplies our opportunity second for the the facilities, was risk risk great the just because mitigation, let we make expertise. with work the from

risk It our think sense So, it's to too. mitigation. part do makes we of it

source. of So, to second a we what we're going sure just is getting to be know make there's the basically push customer ahead

Operator

of Group. Our Don Winslow Slowinski Asset from next question comes

Don Slowinski

what and targets Ruben, we discussed? markets haven't it, Navy additionally, where although than but also B-TRAN these high collaborate might end is seem there Dan, opportunities be with you you And provide profile with examples you and closes as discussed put you IGBTs. existing I world real new with as maybe greenfield a at displacing hand just what little are crossover could

Dan Brdar

mature, let’s things Yes. which When are sort semiconductor there a When we provide. contributor you vehicle are one about that without like markets, going improve board of can of vehicles think inefficiencies the selection we electric things currently and greenfield, breaker it some circuit vehicles the is actually on more a that the think charging. better push where semiconductor across in electric DC a because to market about major electric call electric mature for is the exist efficiency, the significant losses a vehicles, those isn't to

significant means for cost conductor that get the they do range to a of either switches reduce with electric range, cut they a in of or So them that. wanted batteries power the to highest better if vehicles same batteries, improvement cost set component, the allow component model switch more will

what's energy think you in terms and converter on with a energy much kind if better. not there's standpoint, storage, about to way is from of get efficiency, of unfortunately, going peaking power solar Secondly, solar

need been, you a trying been have that. challenging And has a process, alternatives So do to move expensive. which new and the long to they're carbide, to silicon technology

with can system you that with coupled just storage, you the amount take from where with connectivity. significantly Here bidirectionality, B-TRAN particularly of to that's available of impact versus solar traditional useful can energy advantage staying sell

Don Slowinski

another segment there electric within that's displacing technology within manufactured manufacturing? existing there IGBT would segment or that Would that electric you be displacing that’s manufactured vehicle are now? electric -- vehicle or is IGBT is technology there So competitive you technology? vehicle now Or be

Dan Brdar

that competing predominantly we're Yes. segment. in against that IGBT It's

where it’s end Now market also MOSFETs generally the of this for don't things high switching frequency, IGBTs vehicles in electric some space. play but really

they more efficient market, particularly look it's as onboard going storage to really people drives do traction after frankly, at, So try the IGBT as devices.

going really today. to IGBT playing all about where that in is be marketplace leveraging it's So

Operator

individual question investor. [Operator from Our next comes King] Instructions] of [Richard

Unidentified Analyst

own in and on? to Dan, your DTI team undertaking the with I you're a and understanding advancement that fact, you’re your technical coming from want get technological of of University is partners or Teledyne you the function Do or people, and most comprehensions how you, technologically. better working have so

Dan Brdar

The core in B-TRAN in-house. technology

is We we PhD our improvement the of its through The what wafer have generations that driver part device and the team. we to a of a direction physics of design, now looking and have really that had at will great to technical as is actually capability people he part that University we the to that driver processes, add who lead Texas Austin drives the the work actual few we go through that really provides understands in-house who for it and more Teledyne. a semiconductor bring technical of fabrication we're outsourced own know evolution

blend in-house, and pretty balanced well and are more keeping well technology then trade-off patented between patents packaging things on designs and and our and that I core wafer available like we've fabrication. and think done So protected a parties of trade secrets, for commercially third relying

Unidentified Analyst

or do have the University so -- are some how revenues of have of things Do for how people are some And kind participation they the on through Texas, of on? here ownership they compensated? finally example, sales those at they form and

Dan Brdar

negotiations any Yes, well willing University agreement of quite technical getting share few a to work. not was of were their part to going any place we certainly them that. and the do. their were And you design took in to our Texas. wanted for a with basically challenge that rounds finally It what probably technology for of to hit biggest facilities rights to use expertise, the do get they the piece of We work

technology a retain like of way. for the that don't they're engineering they that we came looked rights although out service do. That that And that are they ultimately, us, the at basically performing. work function to all have essentially the they is high So it

Operator

Our comes question next Palmer]. from [Bruce

Unidentified Analyst

a it. It a capable the when some times. look you through get sampling I that envision a kind example, be full what maybe feedback, I are you agreement people to you said let's suggestions you about envision of of five say over some targets say whether take know various want long for look How of at with question. on more to the the for to or at? or But quarter think agreements? driver, is incorporate might with agreement your and expectations the little hypothetical, to know to use you be we them might you sermon, end my And will is And want I that of going one timing program. first of quarter. working it understand and time just their on just just first to by -- to end as I guess I by timing, you'll maybe things do people give A kind the sign sample, let's of could they agreement, second for if now the XXXX an you're the guess,

Dan Brdar

and going individual be get It's this, we'll a we’ll feedback testing. getting into is from have discussions we them, far we that’s better as expect company, based that, vary further to so having engaged, way on based on the little a on. The color to this we're go

not So away they case of it's back us tell and sigma something. and go come for a

sure lot of of our part going is driver, they then design to testing product. and a understand understand own built work, the the are technical it well the it's There'll their team do. the big correctly. part collaboration that make they're to their be They into operates So that that how they device evaluation the idea understand own of with margins

things drive provide will actually will replicate design going to margin, to Some of to able them the them to them. of information some for want just to validate we're of be want some

technical getting working the be we'll team started with quickly their feedback So they very device. after from

a further couple time a part feedback point. period along a But getting want, bit take my once probably this of of the to package at kind ultimately we better like, would what like. time. have on and sense get I in these that of looks guesswork of we it players the And just think they really going with that what little think I Now, what be will more is terms looks

Unidentified Analyst

out kind do? you fabricator, you if devices? you What a and could there into break guys volume, XXXX, X million devices, be mean, X of add question, million second I And you're able volume Okay. would to out is

Dan Brdar

that all make within take fab anticipate with actually supplement years. over discussed couple to as can we process next And actually the California. where meeting I Teledyne, could this identified they with they what has other the Well, of rework facility do could Teledyne, devices we them, another already

in fab. something that think happen to working, of to you the a example, me, and path makers, were know to there's for they ourselves seek you're for a in of want if sure matter that get So it's case that units, automobile for really let’s they millions to But there. also make to

having get worry start that I there you them feel players up can if about with adapt whether that So, keep to can comfortable collectively think multiple they think have has up. I to they things we them helped don't and ramp

Operator

to no like As remarks. back further questions, I'd any to the additional there turn or closing for Mr. Brdar are call

Dan Brdar

we first to when be joining week. we you webcast. look report into today. In We'll Summit everyone Thank our results. speaking and our tuning you. thanks quarter invite everyone again Virtual Conference the Investor forward Well, at for to the you meantime, next safe And will presenting keep call the we with

Operator

conference presentation. Ladies call. your that and concludes Thank today's for gentlemen, you

You disconnect. may now

Ideal Power (IPWR) 18 Mar 212020 Q4 Earnings call transcript