iPower reports FQ1 2023 revenue up 50% to $26M; net loss of $4.3M on goodwill impairment

iPower Inc.

2023-Q1 EPS reported -$0.14 revenue$26,022,673

Revenue of $26.0M (+50% YoY); gross profit $10.0M (+37%); gross margin 38.4% vs 42.1%.
Net loss of $4.3M ($0.14 loss per share) vs net income of $0.9M ($0.03 EPS) in prior year, driven by $3.1M goodwill impairment and higher costs.
Cash and equivalents $4.8M; total long-term debt $16.1M.
CEO announces upcoming corporate rebrand and website; CFO sees improvements in shipping and freight costs.

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 0.95

iPower Inc. reported fiscal first quarter ended September 30, 2022 results: revenue $26.0 million, net income Net loss was $4.3 million, EPS $(0.14) per share.

Period: fiscal first quarter ended September 30, 2022
Revenue: $26.0 million
Net income: Net loss was $4.3 million
EPS: $(0.14) per share
Result: reported results

Exact text from the filing

--- EX-99.1 (PRESS RELEASE) --- EX-99.1 2 ipower_ex9901.htm PRESS RELEASE Exhibit 99.1 iPower Reports Fiscal First Quarter 2023 Results - Fiscal Q1 Revenue up 50% to a Record $26.0 Million - - iPower Management to Host Conference Call Today at 4:30 p.m. Eastern Time - DUARTE, CA, November 14, 2022 -- iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), a leading

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Source: SEC EDGAR

accession 0001683168-22-007716

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