Ispire Tech Q1 revenue $42.9M (+59%); net loss narrows to $1.4M; FY24 cannabis rev guide $80-90M

Ispire Technology Inc.

2024-Q1 EPS reported -$0.03 revenue$42,864,647

Revenue $42.9M (+59.1% YoY); cannabis vaping $17.3M (+116.8%), tobacco vaping $25.5M (+34.8%).
Gross profit $6.9M (+43.7%); gross margin 16.1% vs 17.8% prior year.
Net loss $1.4M, improved from $2.0M loss in prior-year quarter.
FY2024 outlook: cannabis vaping $80-90M (100-125% growth), tobacco vaping $100-110M (33-47% growth).
New manufacturing facility in Malaysia; cash $25.7M and working capital $27.6M at quarter end.

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 fiscal first quarter 2024, which ended on September 30, 2023 results: revenue Revenue increased 59.1% to $42.9 million, net income Net loss of $1.4 million.

Period: fiscal first quarter 2024, which ended on September 30, 2023
Revenue: Revenue increased 59.1% to $42.9 million
Net income: Net loss of $1.4 million
Result: reported results

Exact text from the filing

OF ISPIRE TECHNOLOGY INC. ISSUED ON NOVEMBER 14, 2023 Exhibit 99.1 Ispire Technology Inc. Reports Financial Results for the Fiscal First Quarter 2024 Overall Revenue Increased 59.1% to $42.9 Million; Gross Profit Increased 43.7% to $6.9 Million. Revenue from cannabis vaping products up 116.8% to $17.3 Million Revenue from tobacco vaping products up 34.8% to

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Source: SEC EDGAR

accession 0001213900-23-086405

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