iPower fiscal Q3 revenue up 15% to $23.3M; returns to profitability with net income $1.0M

iPower Inc.

2024-Q3 EPS reported -$0.07 vs consensus $4.85 ▼ miss (-101.4%)

Revenue rose 15% YoY to $23.3M; gross margin expanded 850 bps to 47.0%.
Net income attributable to iPower was $1.0M ($0.03 EPS) vs. a $1.5M loss; adjusted net income $1.6M ($0.05 EPS).
SuperSuite supply chain business now ~10% of total revenue; new sales channel on Temu launched in April.
Net debt reduced 59% to $3.3M from $8.1M at June 30, 2023.
Legacy commercial hydroponics channel being wound down, remaining inventory being sold.

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, 2024 results: revenue $23.3 million, net income $1.0 million or $0.03 per share, EPS $0.03 per share.

Period: the fiscal third quarter ended March 31, 2024
Revenue: $23.3 million
Net income: $1.0 million or $0.03 per share
EPS: $0.03 per share
Result: reported results

Exact text from the filing

iPower Reports Fiscal Third Quarter 2024 Results Fiscal Q3 Revenue up 15% to $23.3 Million

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iPower Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-003396

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