iPower reports Q3 loss of $0.05 per share; revenue down 11% to $20.2M

iPower Inc.

2023-Q3 EPS reported -$0.30 revenue$65,502,882

Net loss $1.5M ($0.05/sh) vs net income $1.2M ($0.04/sh) in prior year Q3.
Revenue $20.2M down from $22.8M; in-house brand mix >90% of revenue.
Gross margin 38.5% vs 40.4% due to higher freight costs; expects improvement in H2 2023.
Net debt reduced 42% to $8.2M from $14.2M at June 30, 2022.
Management expects return to profitability in fiscal 2024 as inventory normalizes.

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 the fiscal third quarter ended March 31, 2023 results: revenue $20.2 million, net income $1.5 million, EPS $(0.05) per share.

Period: the fiscal third quarter ended March 31, 2023
Revenue: $20.2 million
Net income: $1.5 million
EPS: $(0.05) per share
Result: reported results

Exact text from the filing

today announced financial results for its fiscal third quarter ended March 31, 2023. Fiscal Q3 2023 Results vs. Year-Ago Quarter (unless otherwise noted) · Total revenue was $20.2 million compared to $22.8 million. · Gross profit was $7.8 million, with gross margin of 38.5% compared to 40.4%. · Net loss attributable to iPower was $1.5 million or $(0.05) per share,

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Source: SEC EDGAR

accession 0001683168-23-003394

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