May. 12 at 11:23 AM
$ISPR
Ispire Technology reported its Q3 FY2025 financial results, showing revenue of
$26.2M, down 12.7% from
$30.0M in Q3 FY2024.
The company posted a net loss of
$10.9M (
$0.19 per share), compared to a
$5.9M loss in the prior year.
Key highlights include: accounts receivable reduction to
$60.4M from
$67.7M, transition of manufacturing to Malaysia with expected
$8M annual operating cost savings, and receipt of an interim license for nicotine manufacturing in Malaysia.
The company also filed a component PMTA with FDA through IKE Tech for blockchain-based age-gating technology and launched Sprout™, an advanced cannabis vapor device, in partnership with Raw Garden.
Gross margin decreased to 18.2% from 20.4% year-over-year, while operating expenses increased to
$15.4M from
$11.8M.
