Ipower Inc - IPW STOCK NEWS

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.

iPower Inc. (Nasdaq: IPW) reported its fiscal Q4 and full-year 2024 results, highlighting improved profitability and gross margin expansion. Key points include:

- Q4 revenue was $19.5 million, down from $23.4 million year-over-year
- Q4 gross profit increased 2% to $9.2 million, with gross margin up 870 bps to 47.4%
- Q4 net income improved to $0.7 million or $0.02 per share
- Full-year revenue was $86.1 million, compared to $88.9 million in FY2023
- Full-year gross profit increased 13% to $39.3 million, with gross margin up 650 bps to 45.6%
- Total debt reduced by 46% to $6.3 million as of June 30, 2024

The company attributed improvements to optimization initiatives, expanded channel distribution, and strengthened supply chain capabilities.

iPower Inc. (Nasdaq: IPW), a tech-driven online retailer of home, pet, and garden products, has scheduled its fiscal fourth quarter and full year 2024 conference call for September 19, 2024, at 4:30 p.m. ET. The company will discuss financial results for the period ended June 30, 2024. Management will host the call, followed by a Q&A session. Financial results will be released in a press release before the call. Investors can join via phone or webcast, with dial-in and webcast registration links provided. The call will also be available for replay on iPower's website.

iPower Inc. (Nasdaq: IPW), a tech-driven online retailer of home, pet, and garden products, announced its participation in the Water Tower Research Fireside Chat Series on August 7, 2024, at 2:00 p.m. ET. The virtual event will feature CFO Kevin Vassily discussing iPower's key distribution channels, including:

• Amazon and related services
• TikTok Shop and Temu
• Potential new distribution channels

The fireside chat will be hosted by Thierry Wuilloud, Managing Director at Water Tower Research. Interested parties can register for the event online, with support available from iPower's investor relations team.

iPower (Nasdaq: IPW), a tech-driven online retailer specializing in home, pet, and garden products, announced a new partnership with a manufacturing partner in Vietnam. This strategic move is aimed at reducing production costs and minimizing tariffs, thus offering more competitive pricing to consumers. Operations have already commenced, marking the initiation of the first purchase order. The expanded supply chain is expected to enhance efficiency, diversify risks, and bolster resilience against global market fluctuations. CEO Lawrence Tan highlighted the importance of this partnership in diversifying and strengthening the supply chain, ensuring continued benefits for customers and partners.

iPower has entered into a definitive agreement for a $5 million registered direct offering. The company will sell 2,083,334 shares of common stock at $2.40 per share and issue warrants for an additional 2,083,334 shares. Warrants will have a $2.40 exercise price, being immediately exercisable and valid for five years.

The offering is expected to close on June 18, 2024, with Roth Capital Partners as the exclusive placement agent. Net proceeds will be used for growth strategies, including potential mergers, acquisitions, and general corporate purposes. The offering is pursuant to an SEC-effective shelf registration statement.

iPower, a data-driven online retailer specializing in consumer home, pet, and garden products, has been approved as a seller on Temu US. This approval introduces a new sales channel for iPower's SuperSuite clients, offering significant growth opportunities. Since starting on Temu in April 2024, iPower has seen rapid growth over two months. Temu's platform, akin to Amazon, provides global reach, aiding iPower's supply chain partners in expanding their market presence. CEO Lawrence Tan emphasizes that this aligns with the company's strategy to diversify and sustain long-term growth by continuously exploring additional sales channels.

iPower (Nasdaq: IPW) has announced the integration of Amazon Logistics Services into its SuperSuite platform. This move aims to enhance last-mile delivery capabilities for its home, pet, and garden product partners. Key benefits include competitive rates, fast and efficient delivery, and reliable service leveraging Amazon's extensive logistics network. CEO Lawrence Tan emphasized that this integration elevates iPower's value proposition, making delivery services faster, more reliable, and cost-effective. The company remains committed to enhancing its overall supply chain solutions.

iPower, a tech and data-driven online retailer specializing in consumer home, pet, and garden products, announced that its CFO, Kevin Vassily, will present at the Water Tower Research's Inaugural Consumer Products Virtual Investor Conference on June 6, 2024, at 1:00 p.m. ET. This event, set to take place over two days, will feature presentations from various branded consumer products companies. The conference is complimentary for investors and will be hosted by industry experts Doug Lane and Budd Bugatch.