secwatch.observer — SEC 8-K summary
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Issuer:     iPower Inc. (IPW)
CIK:        0001830072
Form:       8-K
Filed at:   2023-09-14T23:59:59+00:00
Accession:  0001683168-23-006435
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iPower FY2023 revenue up 12% to $88.9M; net loss $12.0M vs net income prior year
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- FY2023 revenue $88.9M (+12% YoY); net loss $12.0M or $(0.40)/share vs net income $1.5M in FY2022.
- Q4 revenue $23.4M (+6% YoY); Q4 net loss $3.0M or $(0.10)/share vs loss $1.3M prior year.
- Gross margin 39.1% (FY2023) vs 41.8% prior year; management attributes decline to higher-cost inventory.
- Cash from operations improved to $9.2M from cash used $16.6M; net debt reduced 43% to $8.1M.
- Management expects gross margin improvement in FY2024 after selling through excess inventory.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830072/000168316823006435/0001683168-23-006435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830072/000168316823006435/ipower_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-006435

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer