iPower reports fiscal Q2 revenue up 12% to $19.3M, but net loss of $3.3M

iPower Inc.

2023-Q2 EPS reported -$0.25 revenue$45,277,263

Total revenue increased 12% to $19.3M vs $17.1M in year-ago quarter.
Net loss attributable to iPower was $3.3M ($0.11 per share) vs net income of $0.8M ($0.03 per share) last year.
Gross margin fell to 41.4% from 44.1% due to higher freight and product mix.
Net debt reduced 42% to $8.2M, with cash increasing to $4.0M from $1.8M at June 30, 2022.
Increased marketing spend to reduce excess inventory; expects lower operating expenses going forward.

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

iPower Inc. reported fiscal second quarter ended December 31, 2022 results: revenue $19.3 million, net income $(0.11) per share, EPS Net loss attributable to iPower was $3.3 million or $(0.11) per share.

Period: fiscal second quarter ended December 31, 2022
Revenue: $19.3 million
Net income: $(0.11) per share
EPS: Net loss attributable to iPower was $3.3 million or $(0.11) per share
Result: reported results

Exact text from the filing

Total revenue in the fiscal second quarter of 2023 increased 12% to $19.3 million

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Source: SEC EDGAR

accession 0001683168-23-000877

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