Ispire Q2 revenue $41.7M (+30.7%), net loss $4.0M vs -$0.1M YoY; cannabis vaping sales +149%

Ispire Technology Inc.

2024-Q2 EPS reported -$0.10 revenue$84,550,208

Cannabis vaping hardware revenue surged 149% to $19.5M; tobacco vaping was $22.1M.
Gross profit rose 24.1% to $6.4M; gross margin slipped to 15.3% from 16.1%.
Net loss of $4.0M ($0.07 per share) vs net loss of $0.1M ($0.01 per share) a year ago.
FY 2024 outlook: cannabis vaping revenue $80-90M (100-125% growth); tobacco $95-105M (33-47% growth).
Cash & equivalents $17.5M; working capital $24.8M as of Dec 31, 2023.

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 fiscal second quarter ended December 31, 2023 results: revenue $41.7 million, net income Net loss of $4.0 million, EPS $(0.07) per share.

Period: the fiscal second quarter ended December 31, 2023
Revenue: $41.7 million
Net income: Net loss of $4.0 million
EPS: $(0.07) per share
Result: reported results

Exact text from the filing

Fiscal Second Quarter 2024 Financial Results ● Revenue increased 30.7% to $41.7 million as compared to $31.9 million in the same period of 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ispire Technology Inc. reported the six-month period ended December 31, 2023 results: revenue $84.5 million, net income net loss was approximately $5.4 million, EPS $(0.10) per share.

Period: the six-month period ended December 31, 2023
Revenue: $84.5 million
Net income: net loss was approximately $5.4 million
EPS: $(0.10) per share
Result: reported results

Exact text from the filing

For the six-month period ended December 31, 2023, Ispire reported revenue of $84.5 million, compared to $58.8 million during the same period last year, an increase of 43.7%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ispire Technology Inc. reported fiscal year 2024, which ends on June 30, 2024 results: revenue Revenue for cannabis vaping products for fiscal year 2024 is projected to be in the range of $80 million to $90 million. Guidance initiated.

Period: fiscal year 2024, which ends on June 30, 2024
Revenue: Revenue for cannabis vaping products for fiscal year 2024 is projected to be in the range of $80 million to $90 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Fiscal Year 2024 Outlook Ispire is providing the following outlook for the cannabis and tobacco vaping products for fiscal year 2024, which ends on June 30, 2024. Revenue for cannabis vaping products for fiscal year 2024 is projected to be in the range of $80 million to $90 million, representing growth of 100% to 125% from fiscal year 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 0001213900-24-015398

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