iPower, Inc. - IPW STOCK NEWS

iPower Inc. (Nasdaq:IPW) reported a 12% increase in fiscal Q2 revenue, reaching $19.3 million, compared to $17.1 million in the prior year. Gross profit rose 5% to $8.0 million, though gross margin declined to 41.4% from 44.1%, impacted by higher freight costs. The company faced a net loss of $3.3 million or $(0.11) per share, a drop from a net income of $0.8 million or $(0.03) per share last year. iPower reduced its net debt by 42% to $8.2 million, aided by improved working capital and debt paydown. The company aims to streamline operations and expects to see lower operating expenses moving forward.

iPower Inc. (Nasdaq: IPW), a prominent online retailer of home and garden products, is set to announce its fiscal second quarter financial results for the period ending December 31, 2022. The details will be disclosed in a press release prior to a conference call scheduled for February 14, 2023, at 4:30 p.m. Eastern time. During the call, management will present the results and engage in a Q&A session with participants. The event can be accessed via live webcast, and a replay will be available on their website. iPower continues to serve a diverse customer base through its extensive range of products available at its online platforms.

iPower Inc. (Nasdaq:IPW) has completed a significant corporate rebranding, including a new logo and website, aimed at enhancing its market presence. The rebrand reflects iPower's intent to better showcase its diverse product portfolio beyond hydroponics. CEO Lawrence Tan emphasized that this initiative will unify the company's offerings and improve customer experience globally. The rebranding was executed by UK-based agency Poppins, indicating a strategic effort to capture the brand's value and expand both domestically and internationally.

iPower Inc. (Nasdaq: IPW) reported a record Q1 revenue of $26.0 million, a 50% increase year-over-year. Despite strong revenue growth, the company faced a net loss of $4.3 million or $(0.14) per share, largely due to a $3.1 million goodwill impairment triggered by a drop in market capitalization. Gross profit rose to $10.0 million, although the gross margin decreased to 38.4% from 42.1%.

Management noted improvements in supply chain challenges and plans for a corporate rebranding to reflect its diverse product offerings.

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.