iPower, Inc. - IPW STOCK NEWS

iPower Inc. (Nasdaq:IPW) announces a conference call on November 14, 2022, at 4:30 p.m. Eastern time to discuss its financial results for the fiscal first quarter ended September 30, 2022. The call will follow the release of the company’s financial results in a press release before the meeting. Investors can join through a dial-in registration link or via a live webcast. iPower is a top online retailer of home and garden products, offering a diverse range of products through its own and partner platforms.

iPower reported significant financial growth for fiscal 2022, with total revenue rising 47% to a record $79.4 million. The fiscal Q4 also saw a 50% revenue increase to $22.1 million. Gross profit for the year rose 46% to $33.2 million, although gross margins slightly decreased to 41.8%. The company achieved a net income of $1.5 million compared to a net loss in fiscal 2021. iPower attributes growth to diversifying its product offerings and expanding into Europe, despite facing increased operating expenses and long-term debt of $14.1 million.

iPower Inc. (Nasdaq:IPW), a leading online hydroponic equipment supplier, will hold a conference call on September 27, 2022, at 4:30 PM ET to discuss its financial results for the fiscal fourth quarter and full year ending June 30, 2022. The results will be disclosed in a press release before the call, which will include a Q&A session with management. For more details, the call can be accessed through live webcast or dial-in registration links provided in the announcement.

iPower Inc. (Nasdaq:IPW) reported a 74% increase in fiscal Q3 2022 revenue, reaching a record $22.8 million compared to $13.1 million in Q3 2021. Gross profit rose 59% to $9.2 million, with a gross margin of 40.3%. Net income surged to $1.2 million or $0.04 per share, a significant improvement from a net loss of $(0.2) million last year. Despite rising freight costs, operating expenses increased to $7.8 million but improved as a percentage of revenue. The company launched new initiatives in Europe and ventured into joint partnerships for eCommerce and logistics.

iPower Inc. (Nasdaq:IPW) will hold a conference call on May 16, 2022, at 4:30 p.m. ET to discuss its fiscal Q3 financial results for the period ending March 31, 2022. The earnings report will precede the call, where management will discuss performance and answer questions. Investors can join via a toll-free number or listen to the live webcast available on iPower's website. The company is a leading online retailer of hydroponic equipment, serving both commercial and individual customers across various platforms.

iPower (Nasdaq: IPW), a leading online hydroponics supplier, will participate in three investor conferences in March 2022. The events include D.A. Davidson’s Consumer Growth Conference on March 10, where CEO Lawrence Tan will engage in a fireside chat. Following that, at Roth’s 34th Annual Conference from March 13-15, both Tan and CFO Kevin Vassily will present on March 15. Lastly, the Maxim’s 2022 Growth Conference will be held virtually from March 28-30, featuring a pre-recorded presentation and one-on-one meetings. For inquiries, investors can contact iPower’s investor relations team.

iPower Inc. (Nasdaq:IPW) held its Annual Meeting of Stockholders on February 23, 2022, where all proposals were unanimously approved. This included the election of five directors for a one-year term, ratification of its independent auditors, UHY, LLP, and approval of executive compensation. Additionally, stockholders approved the ability to determine the frequency of advisory votes on executive compensation. iPower is a leading online retailer of hydroponics equipment and accessories, serving a diverse customer base.

iPower Inc. (Nasdaq:IPW) has acquired Anivia Limited for US$12 million, expanding its production and R&D capabilities. The acquisition, effective February 15, 2022, grants iPower control over its primary global co-engineering partner, Daheshou Shenzhen Information Technology Co. Ltd (DHS), which generated $9 million in gross sales in fiscal 2021. The deal enhances iPower's supply chain management and e-commerce abilities, reducing supplier turnover risks. The transaction includes $1.5 million cash, a $3.5 million promissory note, and 3,083,700 shares of common stock.

iPower Inc. (IPW) reported a remarkable 52% increase in fiscal Q2 revenue, reaching $17.1 million and driven by strong in-house branded product sales, which surged 72%. Gross profit rose 53% to $7.6 million, with a gross margin of 44.1%. Net income also improved 39% to $0.8 million or $0.03 per share. Despite challenges in the supply chain, management is optimistic about growth initiatives like the launch of the Flourish nutrient line and expansion into Europe. However, total long-term debt increased to $7.4 million.