iPower Reports Fiscal Second Quarter 2025 Results
iPower (Nasdaq: IPW) reported strong fiscal Q2 2025 results with revenue increasing 14% to $19.1 million. The company achieved significant improvements across key metrics, including a 15% increase in gross profit to $8.4 million and gross margin expansion of 40 basis points to 44.0%.
The company turned profitable with net income of $0.2 million ($0.01 per share), compared to a net loss of $1.9 million in the year-ago period. Total operating expenses decreased 22% to $7.7 million. iPower reduced its total debt by 31% to $4.4 million from $6.3 million as of June 30, 2024.
Growth was primarily driven by the company's SuperSuite supply chain offerings and increased product sales to its largest channel partner. The company has discontinued its legacy commercial hydroponics business to focus on its core competency as a data-driven consumer products and services company.
iPower (Nasdaq: IPW) ha riportato risultati fiscali solidi per il secondo trimestre del 2025, con un incremento del fatturato del 14% a 19,1 milioni di dollari. L'azienda ha ottenuto miglioramenti significativi in vari indicatori chiave, inclusa un aumento del 15% del profitto lordo a 8,4 milioni di dollari e un'espansione del margine lordo di 40 punti base al 44,0%.
L'azienda ha raggiunto la redditività con un reddito netto di 0,2 milioni di dollari (0,01 dollari per azione), rispetto a una perdita netta di 1,9 milioni di dollari nello stesso periodo dell'anno precedente. Le spese operative totali sono diminuite del 22% a 7,7 milioni di dollari. iPower ha ridotto il suo debito totale del 31% a 4,4 milioni di dollari da 6,3 milioni di dollari al 30 giugno 2024.
La crescita è stata principalmente guidata dalle offerte della catena di approvvigionamento SuperSuite dell'azienda e dall'aumento delle vendite di prodotti al suo più grande partner commerciale. L'azienda ha interrotto la sua attività commerciale di idroponica tradizionale per concentrarsi sulla sua competenza principale come azienda di prodotti e servizi per consumatori basata sui dati.
iPower (Nasdaq: IPW) reportó resultados fiscales sólidos para el segundo trimestre de 2025, con un aumento del 14% en los ingresos a 19,1 millones de dólares. La compañía logró mejoras significativas en métricas clave, incluyendo un incremento del 15% en la utilidad bruta a 8,4 millones de dólares y una expansión del margen bruto de 40 puntos básicos al 44,0%.
La empresa se volvió rentable con un ingreso neto de 0,2 millones de dólares (0,01 dólares por acción), en comparación con una pérdida neta de 1,9 millones de dólares en el mismo período del año anterior. Los gastos operativos totales disminuyeron un 22% a 7,7 millones de dólares. iPower redujo su deuda total en un 31% a 4,4 millones de dólares desde 6,3 millones de dólares a 30 de junio de 2024.
El crecimiento fue impulsado principalmente por las ofertas de la cadena de suministro SuperSuite de la empresa y el aumento de las ventas de productos a su mayor socio comercial. La compañía ha descontinuado su negocio de hidroponía comercial heredado para centrarse en su competencia principal como una empresa de productos y servicios para consumidores impulsada por datos.
iPower (Nasdaq: IPW)는 2025 회계 연도 2분기 실적을 발표하며 매출이 1910만 달러로 14% 증가했다고 보고했습니다. 이 회사는 총 이익이 840만 달러로 15% 증가하고 총 마진이 44.0%로 40bp 확장되는 등 주요 지표에서 상당한 개선을 이루었습니다.
회사는 순이익 20만 달러 (주당 0.01 달러)로 수익을 달성했으며, 이는 작년 같은 기간 190만 달러의 순손실과 비교됩니다. 총 운영 비용은 770만 달러로 22% 감소했습니다. iPower는 2024년 6월 30일 기준 630만 달러에서 440만 달러로 총 부채를 31% 줄였습니다.
성장은 주로 회사의 SuperSuite 공급망 제공 및 최대 채널 파트너에 대한 제품 판매 증가에 의해 주도되었습니다. 이 회사는 데이터 기반 소비재 및 서비스 회사로서의 핵심 역량에 집중하기 위해 기존 상업용 수경 재배 사업을 중단했습니다.
iPower (Nasdaq: IPW) a annoncé de solides résultats pour le deuxième trimestre de l'exercice 2025, avec une augmentation de 14 % de son chiffre d'affaires à 19,1 millions de dollars. L'entreprise a réalisé des améliorations significatives dans plusieurs indicateurs clés, y compris une augmentation de 15 % du bénéfice brut à 8,4 millions de dollars et une expansion de la marge brute de 40 points de base à 44,0 %.
L'entreprise est devenue rentable avec un bénéfice net de 0,2 million de dollars (0,01 dollar par action), contre une perte nette de 1,9 million de dollars au cours de la même période l'année précédente. Les dépenses d'exploitation totales ont diminué de 22 % pour atteindre 7,7 millions de dollars. iPower a réduit sa dette totale de 31 % à 4,4 millions de dollars, contre 6,3 millions de dollars au 30 juin 2024.
La croissance a été principalement alimentée par les offres de la chaîne d'approvisionnement SuperSuite de l'entreprise et l'augmentation des ventes de produits à son plus grand partenaire commercial. L'entreprise a interrompu son ancienne activité d'hydroponie commerciale pour se concentrer sur son expertise principale en tant qu'entreprise de produits et services pour consommateurs axée sur les données.
iPower (Nasdaq: IPW) hat starke Ergebnisse für das fiskalische 2. Quartal 2025 gemeldet, mit einem Umsatzanstieg von 14% auf 19,1 Millionen Dollar. Das Unternehmen erzielte erhebliche Verbesserungen in wichtigen Kennzahlen, einschließlich eines Anstiegs des Bruttogewinns um 15% auf 8,4 Millionen Dollar und einer Ausweitung der Bruttomarge um 40 Basispunkte auf 44,0%.
Das Unternehmen wurde profitabel mit einem Nettogewinn von 0,2 Millionen Dollar (0,01 Dollar pro Aktie), verglichen mit einem Nettoverlust von 1,9 Millionen Dollar im Vorjahreszeitraum. Die gesamten Betriebskosten sanken um 22% auf 7,7 Millionen Dollar. iPower hat seine Gesamtschulden um 31% auf 4,4 Millionen Dollar von 6,3 Millionen Dollar zum 30. Juni 2024 reduziert.
Das Wachstum wurde hauptsächlich durch die SuperSuite-Angebote der Lieferkette des Unternehmens und den Anstieg der Produktverkäufe an seinen größten Vertriebspartner vorangetrieben. Das Unternehmen hat sein traditionelles gewerbliches Hydroponikgeschäft eingestellt, um sich auf seine Kernkompetenz als datengestütztes Konsumgüter- und Dienstleistungsunternehmen zu konzentrieren.
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Insights
The Q2 FY2025 results reveal a compelling transformation story at iPower, marked by strategic operational improvements and financial discipline. The
The company's aggressive debt reduction strategy, cutting total debt by
Three key strategic moves deserve particular attention:
- The decision to shutter the legacy hydroponics business represents a decisive pivot toward higher-margin, more scalable opportunities in data-driven consumer products
- The
22% reduction in operating expenses, primarily through optimized selling and fulfillment costs, demonstrates effective cost control without sacrificing growth - The evolution of the SuperSuite platform positions iPower as a technology-enabled services provider rather than just a retailer, potentially leading to more predictable revenue streams and higher margins
While the return to profitability is encouraging, the heavy reliance on their largest channel partner presents concentration risk that requires careful monitoring. The company's focus on supply chain diversification and new supplier relationships appears to be a prudent strategic response to this challenge.
Fiscal Q2 Revenue up
Achieves GAAP Profitability and Positive Cash Flow from Operations
RANCHO CUCAMONGA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven ecommerce services provider and online retailer, today announced its financial results for the fiscal second quarter ended December 31, 2024.
Fiscal Q2 2025 Results vs. Year-Ago Quarter
- Total revenue increased
14% to$19.1 million . - Gross profit increased
15% to$8.4 million , with gross margin up 40 bps to44.0% . - Net income attributable to iPower improved to
$0.2 million or$0.01 per share, compared to net loss attributable to iPower of$1.9 million or$(0.06) per share. - As of December 31, 2024, total debt was reduced by
31% to$4.4 million compared to$6.3 million as of June 30, 2024.
Management Commentary
“We delivered strong results across all key financial metrics in our fiscal second quarter while further enhancing our SuperSuite platform,” said Lawrence Tan, CEO of iPower. “Throughout the quarter, we continued to optimize operations and strengthen our presence across both our established and emerging sales channels. We also remain focused on supply chain diversification by exploring new supplier relationships beyond our existing network, reinforcing our commitment to building a more resilient and adaptable infrastructure.”
“Our SuperSuite platform is gaining further momentum as we leverage our superior supply chain, warehousing and merchandising expertise to drive sales growth for partners with innovative product catalogs. Additionally, we are making steady progress with our recently launched SaaS platform, refining its capabilities to improve supplier collaboration, streamline operations, and better align partners with evolving market demands. With a strong pipeline of prospective partners, we are well-positioned to capitalize on the growing demand for SuperSuite as we bolster our comprehensive service offerings.”
iPower CFO, Kevin Vassily, added, “Our ongoing efforts to optimize our cost structure have delivered meaningful results as we continue to drive gross margin expansion and operating leverage in our business. We have also officially shuttered our legacy commercial hydroponics business, as we are now focused on our core competency as a data-driven, consumer products and services company. We believe these initiatives, coupled with our accelerating growth in our SuperSuite business, will enable us to execute on our goals ahead.”
Fiscal Second Quarter 2025 Financial Results
Total revenue in the fiscal second quarter of 2025 increased
Gross profit in the fiscal second quarter of 2025 increased
Total operating expenses in the fiscal second quarter of 2025 improved
Net income attributable to iPower in the fiscal second quarter of 2025 improved to
Cash and cash equivalents were
Conference Call
The Company will hold a conference call today, February 13, 2025, at 4:30 p.m. Eastern Time to discuss its results for the fiscal second quarter ended December 31, 2024.
iPower’s management will host the conference call, which will be followed by a question-and-answer session.
The conference call details are as follows:
Date: Thursday, February 13, 2025
Time: 4:30 p.m. Eastern time
Dial-in registration link: here
Live webcast registration link: here
Please dial into the conference call 5-10 minutes prior to the start time. If you have any difficulty connecting with the conference call, please contact the Company’s investor relations team at IPW@elevate-ir.com.
The conference call will also be broadcast live and available for replay in the Events & Presentations section of the Company’s website at www.meetipower.com.
About iPower Inc.
iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added ecommerce services for third-party products and brands. iPower's capabilities include a full spectrum of online channels, robust fulfillment capacity, a nationwide network of warehouses, competitive last mile delivery partners and a differentiated business intelligence platform. iPower believes that these capabilities will enable it to efficiently move a diverse catalog of SKUs from its supply chain partners to end consumers every day, providing the best value to customers in the U.S. and other countries. For more information, please visit iPower's website at www.meetipower.com.
Forward-Looking Statements
All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that iPower believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. iPower undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although iPower believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and iPower cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results and performance in iPower's Annual Report on Form 10-K, as filed with the SEC on September 20, 2024, and in its other SEC filings, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
IPW@elevate-ir.com
| iPower Inc. and Subsidiaries | |||||||||||
| Unaudited Condensed Consolidated Balance Sheets | |||||||||||
| As of December 31, 2024 and June 30, 2024 | |||||||||||
| December 31, | June 30, | ||||||||||
| 2024 | 2024 | ||||||||||
| (Unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalent | $ | 2,877,457 | $ | 7,377,837 | |||||||
| Accounts receivable, net | 13,926,432 | 14,740,093 | |||||||||
| Inventories, net | 9,183,631 | 10,546,273 | |||||||||
| Prepayments and other current assets, net | 2,292,744 | 2,346,534 | |||||||||
| Total current assets | 28,280,264 | 35,010,737 | |||||||||
| Non-current assets | |||||||||||
| Right of use - non-current | 4,757,429 | 6,124,163 | |||||||||
| Property and equipment, net | 303,059 | 370,887 | |||||||||
| Deferred tax assets, net | 3,001,517 | 2,445,605 | |||||||||
| Goodwill | 3,034,110 | 3,034,110 | |||||||||
| Intangible assets, net | 3,306,014 | 3,630,700 | |||||||||
| Other non-current assets | 1,187,179 | 679,655 | |||||||||
| Total non-current assets | 15,589,308 | 16,285,120 | |||||||||
| Total assets | $ | 43,869,572 | $ | 51,295,857 | |||||||
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable, net | 8,853,320 | 11,227,116 | |||||||||
| Other payables and accrued liabilities | 3,491,596 | 3,885,487 | |||||||||
| Lease liability - current | 1,540,624 | 2,039,301 | |||||||||
| Short-term loan payable | - | 491,214 | |||||||||
| Short-term loan payable - related party | 350,000 | 350,000 | |||||||||
| Revolving loan payable, net | - | 5,500,739 | |||||||||
| Income taxes payable | 274,947 | 276,158 | |||||||||
| Total current liabilities | 14,510,487 | 23,770,015 | |||||||||
| Non-current liabilities | |||||||||||
| Long-term revolving loan payable, net | 4,042,400 | - | |||||||||
| Lease liability - non-current | 3,612,756 | 4,509,809 | |||||||||
| Total non-current liabilities | 7,655,156 | 4,509,809 | |||||||||
| Total liabilities | 22,165,643 | 28,279,824 | |||||||||
| Commitments and contingency | - | - | |||||||||
| Stockholders' Equity | |||||||||||
| Preferred stock, | |||||||||||
| outstanding at December 31, 2024 and June 30, 2024 | - | - | |||||||||
| Common stock, | |||||||||||
| 31,359,899 shares issued and outstanding at December 31, 2024 and June 30, 2024 | 31,361 | 31,361 | |||||||||
| Additional paid in capital | 33,867,156 | 33,463,883 | |||||||||
| Accumulated deficits | (12,041,063 | ) | (10,230,601 | ) | |||||||
| Non-controlling interest | (44,195 | ) | (38,204 | ) | |||||||
| Accumulated other comprehensive loss | (109,330 | ) | (210,406 | ) | |||||||
| Total stockholders' equity | 21,703,929 | 23,016,033 | |||||||||
| Total liabilities and stockholders' equity | $ | 43,869,572 | $ | 51,295,857 | |||||||
| iPower Inc. and Subsidiaries | ||||||||||||||||||
| Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||||||||||||
| For the Three and Six Months Ended December 31, 2024 and 2023 | ||||||||||||||||||
| For the Three Months Ended December 31, | For the Six Months Ended December 31, | |||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||
| REVENUES | ||||||||||||||||||
| Product sales | $ | 17,606,889 | $ | 16,800,122 | $ | 35,882,301 | $ | 43,308,496 | ||||||||||
| Service income | 1,465,682 | - | 2,198,791 | - | ||||||||||||||
| Total revenues | 19,072,571 | 16,800,122 | 38,081,092 | 43,308,496 | ||||||||||||||
| COST OF REVENUES | ||||||||||||||||||
| Product costs | 9,461,119 | 9,481,882 | 19,378,567 | 24,231,411 | ||||||||||||||
| Service costs | 1,221,566 | - | 1,824,742 | - | ||||||||||||||
| Total cost of revenues | 10,682,685 | 9,481,882 | 21,203,309 | 24,231,411 | ||||||||||||||
| GROSS PROFIT | 8,389,886 | 7,318,240 | 16,877,783 | 19,077,085 | ||||||||||||||
| OPERATING EXPENSES: | ||||||||||||||||||
| Selling and fulfillment | 4,628,914 | 6,936,980 | 10,543,722 | 17,000,451 | ||||||||||||||
| General and administrative | 3,077,365 | 2,933,607 | 8,396,888 | 5,897,658 | ||||||||||||||
| Total operating expenses | 7,706,279 | 9,870,587 | 18,940,610 | 22,898,109 | ||||||||||||||
| INCOME (LOSS) FROM OPERATIONS | 683,607 | (2,552,347 | ) | (2,062,827 | ) | (3,821,024 | ) | |||||||||||
| OTHER INCOME (EXPENSE) | ||||||||||||||||||
| Interest expenses | (140,672 | ) | (182,612 | ) | (280,634 | ) | (410,977 | ) | ||||||||||
| Loss on equity method investment | (802 | ) | (801 | ) | (1,721 | ) | (1,826 | ) | ||||||||||
| Other non-operating income (expenses) | (205,958 | ) | 128,838 | 12,728 | 61,672 | |||||||||||||
| Total other expenses, net | (347,432 | ) | (54,575 | ) | (269,627 | ) | (351,131 | ) | ||||||||||
| INCOME (LOSS) BEFORE INCOME TAXES | 336,175 | (2,606,922 | ) | (2,332,454 | ) | (4,172,155 | ) | |||||||||||
| PROVISION FOR INCOME TAX EXPENSE (BENEFIT) | 120,511 | (688,939 | ) | (516,001 | ) | (964,821 | ) | |||||||||||
| NET INCOME (LOSS) | 215,664 | (1,917,983 | ) | (1,816,453 | ) | (3,207,334 | ) | |||||||||||
| Non-controlling interest | (3,155 | ) | (3,155 | ) | (5,991 | ) | (5,991 | ) | ||||||||||
| NET INCOME (LOSS) ATTRIBUTABLE TO IPOWER INC. | $ | 218,819 | $ | (1,914,828 | ) | $ | (1,810,462 | ) | $ | (3,201,343 | ) | |||||||
| OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||
| Foreign currency translation adjustments | 156,130 | (160,255 | ) | 101,076 | (160,962 | ) | ||||||||||||
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO IPOWER INC. | $ | 374,949 | $ | (2,075,083 | ) | $ | (1,709,386 | ) | $ | (3,362,305 | ) | |||||||
| WEIGHTED AVERAGE NUMBER OF COMMON STOCK | ||||||||||||||||||
| Basic | 31,437,517 | 29,790,242 | 31,427,360 | 29,777,378 | ||||||||||||||
| Diluted | 31,437,517 | 29,790,242 | 31,427,360 | 29,777,378 | ||||||||||||||
| EARNINGS (LOSSES) PER SHARE | ||||||||||||||||||
| Basic | $ | 0.01 | $ | (0.06 | ) | $ | (0.06 | ) | $ | (0.11 | ) | |||||||
| Diluted | $ | 0.01 | $ | (0.06 | ) | $ | (0.06 | ) | $ | (0.11 | ) | |||||||
FAQ
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