Why did Ideal Power's operating expenses surge in Q4 2024?

Ideal Power's operating expenses rose to $2.9 million in Q3 2024, with anticipated increases in R&D and sales and marketing spending. The company's prioritization of devices for automotive qualification testing and its strategic partnerships and technological advancements contributed to the surge in operating expenses. Additionally, the company's revenue was low due to initial orders from customers evaluating the technology, which led to a decrease in commercial revenue and cost of commercial revenue compared to the same quarter in the previous year.