Independence Power operating loss widens to $5.13 million in Q2 FY26; revenue flat at no revenue
ITXP•Q2 FY26 results
- Independence Power Holdings posted a net loss of $5.13 million for the quarter ended June 30, 2026.
- Revenue was unchanged at no revenue for the quarter.
- General and administrative expense more than tripled, rising 211% to $5.6 million on $4.66 million of non-cash equity compensation.
Balance sheet and outlook
- Cash totaled $164,293 at June 30, 2026, while the $86.6 million GridCore Note remained the main asset; $64.95 million is due within one year.
- Management expects future revenue to shift toward recurring software license and subscription fees as the 101-unit, 241-megawatt BESS fleet is deployed.
