iPower, Inc. - IPW STOCK NEWS

iPower Inc (Nasdaq: IPW) reported fiscal Q1 2025 results with revenue of $19.0 million, down from $26.5 million year-over-year. Gross profit decreased to $8.5 million from $11.8 million, though gross margin improved 30 bps to 44.7%. The company reported a net loss of $2.0 million or $(0.06) per share, compared to a loss of $1.3 million or $(0.04) per share last year. Notable achievements include launching on AliExpress, expanding the SuperSuite supply chain business, and reducing total debt by 45% to $3.5 million. The company also launched a new SaaS platform to enhance supplier interactions and streamline operations.

iPower has renewed its secured revolving credit facility with JPMorgan Chase, extending the maturity to November 2027. The new facility provides a $15.0 million revolving commitment with an accordion feature allowing potential increase up to $40.0 million. The interest rate will be based on SOFR plus 2.25% - 2.50%. The company views this renewal as validation of their strategy and expects it to support their growth initiatives, particularly in their SuperSuite supply chain business.

iPower (Nasdaq: IPW), a tech and data-driven ecommerce services provider, has scheduled its fiscal first quarter 2025 earnings conference call for November 14, 2024, at 4:30 p.m. ET. The company will release its financial results for the quarter ended September 30, 2024, via press release before the call. Management will host the conference call followed by a Q&A session. The event will be accessible via dial-in and webcast, with replay available in the Events & Presentations section of iPower's website.

iPower Inc. (NASDAQ: IPW), a tech and data-driven ecommerce services provider and online retailer, is set to participate in the 17th annual LD Micro Main Event XVII. The event will take place at the Luxe Sunset Boulevard Hotel in Los Angeles, California from October 28-30, 2024.

iPower's presentation is scheduled for Wednesday, October 30 at 1:30 PM PT. The company will also host one-on-one meetings throughout the day. Interested parties can view the live presentation by registering online. For additional information or to schedule a meeting with iPower's management team, attendees can contact their LD Micro representative or email iPower's investor relations team at IPW@elevate-ir.com.

iPower Inc. (Nasdaq: IPW) has successfully shipped its first purchase order (PO) from Vietnam in September, marking a significant milestone in the company's supply chain diversification strategy. This initiative aims to expand iPower's global reach and ensure greater stability and efficiency. The company anticipates cost-saving opportunities from reduced production and logistics expenses, enabling more competitive pricing and improved margins.

Additional shipments are scheduled for October and beyond. iPower's collaboration with Vietnamese manufacturers is part of a larger strategy to explore new sourcing opportunities globally, reinforcing its competitive position and ability to meet growing consumer demand. CEO Lawrence Tan emphasized that this milestone positions iPower for greater efficiency and long-term stability.

iPower Inc. (Nasdaq: IPW) has expanded its SuperSuite's U.S. sales channels by launching on AliExpress. This addition provides iPower's supply chain partners access to another major U.S. marketplace, joining existing platforms like Amazon Vendor, Amazon 3P, Walmart.com, Temu, and TikTok Shop. The integration of AliExpress into iPower's SuperSuite platform offers partners the opportunity to:

• Expand U.S. market access
• Diversify sales channels
• Streamline operations

CEO Lawrence Tan emphasized that this integration strengthens iPower's U.S. market presence and demonstrates the company's commitment to enhancing market access and driving value across its platform.

iPower Inc. (Nasdaq: IPW) has announced a partnership with Zyla, a multi-currency financial account service by Ant International. This collaboration allows Zyla's clients to expand sales on major U.S. online marketplaces through iPower's SuperSuite platform. It's the first step towards potentially integrating supply chain financial services within SuperSuite.

iPower will assist Zyla's clients in accessing U.S. ecommerce markets, while gaining access to businesses seeking U.S. market entry. As part of this partnership, iPower's CEO, Lawrence Tan, delivered keynote speeches at Seller Conferences in Shanghai and Ningbo in September, sharing insights on the SuperSuite platform and strategies for leveraging U.S. online marketplaces.

iPower Inc. (Nasdaq: IPW) has launched the SuperSuite Supplier Portal, a new online platform designed to enhance operational efficiency and collaboration with supply chain partners. This platform is a key component of iPower's SuperSuite services, offering suppliers a comprehensive backend system to:

• Improve operational efficiency through task automation
• Access valuable sales data and analytics
• Connect to major U.S. online sales channels
• Manage product listings and shipments
• Collaborate on merchandising strategies

The SuperSuite Supplier Portal marks a significant step towards iPower's goal of providing a complete end-to-end solution for supply chain management, ecommerce, and logistics. CEO Lawrence Tan emphasized the platform's importance in empowering suppliers and improving their engagement with iPower and its clients.

Datasea Inc. (NASDAQ: DTSS) reported significant financial growth for fiscal year 2024, with revenue increasing by 558.6% to $24.0 million, primarily due to the rapid expansion of its 5G AI multimodal digital business in China. The company's capital reserve balance increased by 61.3% to $39.0 million, while noncurrent liabilities decreased to zero.

Key highlights include:

• Technological advancements in 5G AI multimodal digital technology
• Expansion of acoustic product distribution in the U.S. market
• Partnerships with major clients and retailers
• Launch of new acoustic health products

CEO Zhixin Liu emphasized the company's commitment to technological innovation and global expansion strategies in both the 5G AI and acoustics businesses.