Highest-materiality recent filing
Ispire receives interim Malaysia nicotine mfg license, first with Federal and State approval
Interim license from Malaysian Government approved in May 2025, allows immediate manufacturing and marketing of nicotine products.
Ispire appoints Jay Yu as CFO, cuts $10.2M in annual operating expenses
Former CFO Jim McCormick departed on May 13, 2025; no disclosed disagreement.
Ispire Q3 FY2025 revenue down 12.7% to $26.2M, net loss widens to $10.9M
Revenue $26.2M vs $30.0M in prior-year quarter (down 12.7%); net loss $10.9M ($0.19/sh) vs $5.9M ($0.11/sh).
President Tirdad Rouhani departs Ispire Technology effective Feb 27, 2025
Tirdad Rouhani is no longer President or employee of Ispire Technology, effective Feb 27, 2025.
Ispire Technology dismisses CBIZ CPAs, appoints Marcum Asia as new auditor
On Feb 18, 2025, Ispire Technology's Audit Committee dismissed CBIZ CPAs P.C. effective immediately and appointed Marcum Asia CPAs LLP as auditor for FY ending June 30, 2025.
Ispire Technology enters $20M secured loan facility with Avon River Ventures at 15.25% interest
Up to $20M in three tranches: $5M first, $5M second, $10M third; first tranche matures Feb 2027.
Revenue $41.8M (+0.3% YoY); gross profit $7.7M (+23.5%); gross margin 18.5% vs 15.0%.
Ispire authorizes up to $10M share repurchase over 24 months
Board approved repurchase of up to $10M of common stock over 24 months.
Ispire Technology reports auditor change and ongoing material weaknesses in internal controls
Marcum LLP resigned as auditor effective Dec 16, 2024; CBIZ CPAs P.C. engaged Dec 17, 2024 for FY 2025.
Ispire Technology announces positive FDA pre-PMTA meeting for age-verification technology
IKE Tech (Ispire JV) held positive pre-PMTA submission meeting with FDA CTP for age-verification technology for ENDS.
Ispire Q1 FY2025 revenue down 8.2% YoY; net loss widens to $5.6M
Revenue $39.3M (-8.2% YoY); US sales fell $8.1M to $9.7M, Europe up $2.1M to $22.0M.
Ispire Technology reports FY2024 record revenue $151.9M (+31%), net loss widens to $14.8M
Revenue $151.9M (+31.4% YoY); gross profit $29.8M (+43.3%); net loss $14.8M ($0.27/sh) vs $6.0M loss prior year.
Ispire Technology restates prior financials due to cash flow classification errors
Audit committee concludes errors in FY23 and Q1-Q2 FY24 financials are material; no further reliance.
Ispire Technology names Jim McCormick CFO, hires three new SVPs
James McCormick appointed CFO effective May 17; base salary $300k, 50% bonus target, 200k-share option (4-yr vest).
Ispire Tech Q3 revenue +24% to $30M, net loss widens to $5.9M
Revenue $30.0M (+24% YoY); North American cannabis vaping hardware +57% to $11.9M.
Ispire enters JV for e-cigarette age-verification; commits up to $9M, issues warrant to Berify
JV with Chemular (20%), Berify (40%), and Ispire (40%) to develop age-verification hardware and PMTA submissions.
Ispire Q2 revenue $41.7M (+30.7%), net loss $4.0M vs -$0.1M YoY; cannabis vaping sales +149%
Cannabis vaping hardware revenue surged 149% to $19.5M; tobacco vaping was $22.1M.
Ispire to form 50/50 JV with Berify for authentication tech; commits up to $10M
Ispire (ISPR) signed non-binding Term Sheet with Berify to create NewCo, a 50/50 joint venture.
Ispire Tech Q1 revenue $42.9M (+59%); net loss narrows to $1.4M; FY24 cannabis rev guide $80-90M
Revenue $42.9M (+59.1% YoY); cannabis vaping $17.3M (+116.8%), tobacco vaping $25.5M (+34.8%).
Ispire guides FY2024 cannabis revenue $80-90M, tobacco $95-105M; non-GAAP Q4 profit
FY2024 cannabis revenue guidance of $80-90M (100-125% YoY growth); tobacco $95-105M (25-40% growth).
Ispire Technology restates unaudited financials for Dec 2022 and Mar 2023; auditor agrees
Unaudited financial statements at Dec 31, 2022 and for the six months then ended should not be relied upon.
FY2023 revenue $115.6M (+31.2% YoY); cannabis vaping $40M (+100.4%), tobacco vaping $75.6M (+10.9%).
Ispire Technology restating FY2023 interim financials; $74M intangible overstatement
MSPC audit concluded unaudited Dec 2022 & Mar 2023 financials cannot be relied on; intangible assets incorrectly recorded at $74M vs nil.
Ispire Technology grants options and RSUs to Co-CEO, CFO, and COO under 2022 Equity Plan
Co-CEO Michael Wang received options for 1M shares at $9.76 exercise price; 25% vest at 1 year, remainder monthly over 3 years.
Ispire Technology raises ~$8M via private placement of 1.12M shares at $7.13/share
Gross proceeds of ~$7.97M from sale of 1,117,420 shares at $7.1318 per share; net ~$7.5M after placement agent fees.
Ispire Q3 revenue $24.1M (+27% YoY); net loss widens to $3.1M
Revenue $24.1M vs $19.0M YoY (+26.9%); gross profit $4.5M vs $3.0M (+51.9%).
Ispire Technology prices IPO of 2.7M shares at $7.00, raising $18.9M gross
IPO of 2,700,000 shares at $7.00 per share; gross proceeds ~$18.9M before expenses.
On May 13, 2025, Mr. James Patrick McCormick’s service to Ispire Technology Inc. (the “Company”) as its Chief Financial Officer ended, as did Mr. McCormick’s employment by the Company.
On May 13, the Board of Directors (the “Board”) of the Company appointed Jie “Jay” Yu as the new Chief Financial Officer of the Company.
Mr. Tirdad Rouhani is no longer President of Ispire Technology Inc. (the “Company”) or otherwise employed by the Company or any of the Company’s subsidiaries or affiliates, effective February 27, 2025.
appointed David Hessler as the new Chief Operating Officer of the Company and Aspire effective May 31, 2024
appointed Tirdad Rouhani as the new President of the Company effective May 31, 2024
● Dennis Lider as Senior Vice President of Cannabis Product Sales
● David Hessler as Senior Vice President of Operations
● John Patterson as Senior Vice President of International Nicotine
On May 17, the Board of Directors (the “Board”) of Ispire Technology, Inc. (the “Company”) appointed James Patrick McCormick as the new Chief Financial Officer of the Company
On May 15, 2024, Chief Financial Officer Mr. Daniel Machock’s service to Aspire and the Company ended
Effective as of August 3, 2023, following the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of Ispire Technology Inc. (the “Company”), the Board appointed Michael Wang, the former Chief Financial Officer of the Company, to serve as Co-Chief Executive Officer of the Company.
Effective as of August 3, 2023, following the recommendation of the Nominating and Corporate Governance Committee of the Board, the Board appointed Daniel J. Machock to serve as the Chief Financial Officer of the Company following Mr. Wang’s promotion.
Max materiality 0.85 · Median 0.60 · Most common event other_material