iPower reports Q1 FY2024 revenue of $26.5M (+2% YoY), net loss narrows 69% to $1.3M

iPower Inc.

2024-Q1 EPS reported -$0.04 revenue$26,508,374

Revenue $26.5M (+2% YoY); gross profit $11.8M (+18%), gross margin 44.4% vs 38.4% (+600 bps).
Net loss attributable to iPower improved to $1.3M ($0.04 loss/share) from $4.2M ($0.14 loss/share).
Net debt reduced 48% to $4.2M from $8.1M at June 30, 2023; cash $2.7M, total debt $7.0M.
SuperSuite supply chain partnerships reached annualized revenue run-rate of ~$7M.
Non-hydroponic products >75% of revenue; categories include fans, shelving, outdoor patio furniture.

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 first fiscal quarter ended September 30, 2023 results: revenue $26.5 million, net income $1.3 million or $(0.04) per share, EPS $(0.04) per share.

Period: first fiscal quarter ended September 30, 2023
Revenue: $26.5 million
Net income: $1.3 million or $(0.04) per share
EPS: $(0.04) per share
Result: reported results

Exact text from the filing

Total revenue increased 2% to $26.5 million compared to the Company's record $26.0 million in Q1 2023.

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Source: SEC EDGAR

accession 0001683168-23-008128

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