Ispire Tech FY2023 revenue up 31% to $115.6M; cannabis vaping sales doubled; issues strong FY2024 guidance

Ispire Technology Inc.

FY2023 revenue $115.6M (+31.2% YoY); cannabis vaping $40M (+100.4%), tobacco vaping $75.6M (+10.9%).
Gross profit $21.1M (+58.4%), margin 18.2% vs 15.1%; net loss widened to $6.1M from $1.9M.
Restatement: intangible asset corrected to nil, reducing nine-month net loss and equity.
FY2024 outlook: cannabis vaping revenue growth 100%-125% ($80M-$90M); tobacco vaping growth 25%-40% ($95M-$105M).
Q4 2023 non-GAAP net profit $0.5M vs loss of $1.9M in Q4 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ispire Technology Inc. reported the fiscal year ended June 30, 2023 results: revenue $115.6 million. Guidance raised.

Period: the fiscal year ended June 30, 2023
Revenue: $115.6 million
Guidance: raised
Result: reported results

Exact text from the filing

2023 Revenue from cannabis vaping products was up 100.4% to $40 Million. Revenue from tobacco vaping products was up 10.9% to $75.6 Million. Overall Revenue Increased 31.2% to $115.6 Million Issues Fiscal Year 2024 Outlook for Cannabis Vaping Products, Representing a Potential Growth between 100% and 125%, Outlook for Tobacco Vaping Products, Representing a Potential

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Source: SEC EDGAR

accession 0001213900-23-077431

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