Ispire Q3 revenue $24.1M (+27% YoY); net loss widens to $3.1M

Ispire Technology Inc.

2023-Q3 EPS reported -$0.12 revenue$82,976,746

Revenue $24.1M vs $19.0M YoY (+26.9%); gross profit $4.5M vs $3.0M (+51.9%).
Net loss $3.1M vs $1.0M loss YoY; operating expenses doubled to $8.0M.
Cannabis vaping revenue $7.6M in Q3; Q4 guidance $12M-$15M (+58%-98% seq.).
Cash $24.0M at Mar 31; net IPO proceeds $18.5M from April offering of 3.1M shares at $7.00.
IPO funds allocated: 35% manufacturing, 25% R&D, 20% marketing, 20% working capital.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ispire Technology Inc. reported the third quarter of 2023 (ended March 31, 2023) results: revenue $24.1 million, net income $3.1 million.

Period: the third quarter of 2023 (ended March 31, 2023)
Revenue: $24.1 million
Net income: $3.1 million
Result: reported results

Exact text from the filing

● Revenue increased 26.9% to $24.1 million as compared to $19.0 million in the same period of 2022. Tobacco vaping products contributed $16.5 million and cannabis vaping products contributed $7.6 million to revenue during the third quarter 2023; ● Gross profit increased 51.9% to $4.5 million as compared to $3.0 million in the same period of 2022; ● Gross margin increased to 18.7% as compared to 15.7% in the same period of 2022. ● Total operating expenses increased 106.2% to $8.0 million as compared to $3.9 million in the same period of 2022; and ● Net loss of $3.1 million as compared to net loss of $1.0 million in the same period of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ispire Technology Inc. reported the fourth quarter of 2023 (ending June 30, 2023) results: revenue $12 million to $15 million. Guidance initiated.

Period: the fourth quarter of 2023 (ending June 30, 2023)
Revenue: $12 million to $15 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Revenue for cannabis vaping products for the fourth quarter is projected at $12 million to $15 million, representing growth of 58% to 98% from the third quarter 2023.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Ispire Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-040365

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