Core Viewpoint - iPower Inc. will implement a reverse stock split at a ratio of 1-for-30, effective October 27, 2025, to increase its stock price and comply with Nasdaq's minimum bid price requirement [1] Group 1: Reverse Stock Split Details - The reverse stock split will take effect at 12:01 a.m. Eastern Time on October 27, 2025, with trading on a split-adjusted basis beginning that day under the ticker symbol "IPW" [1] - No fractional shares will be issued; any resulting fractional shares will be rounded up to the nearest whole share [2] Group 2: Company Overview - iPower Inc. is a technology- and data-driven online retailer that provides value-added e-commerce services for third-party products and brands [3] - The company operates a nationwide fulfillment network and is expanding its infrastructure across software, logistics, and manufacturing, with plans to pursue initiatives in digital assets and blockchain integration [3]

Sales and Revenue - For the fiscal year ended June 30, 2025, the top five product categories accounted for 69% of total sales[27]. - Over 82% of total sales occur through Amazon.com, highlighting the company's reliance on this platform[37]. - For the years ended June 30, 2025 and 2024, Amazon Vendor and Amazon Seller customers accounted for 82% and 90% of the Company's total revenues, respectively[98]. - Accounts receivable from Amazon Vendor and Amazon Seller accounted for 72% and 91% of the Company's total accounts receivable as of June 30, 2025 and 2024, respectively[98]. - Revenues decreased by 23.15% to $66,142,779 compared to $86,071,485 for the fiscal year ended June 30, 2024[208]. Supply Chain and Sourcing - Approximately 90% of products are sourced from China, emphasizing the company's supply chain dependency[33]. - Almost all sales are conducted through third-party platforms like Amazon, Temu, Walmart, and eBay, making the Company vulnerable to disruptions on these platforms[72]. - The ongoing conflict between Russia and Ukraine could potentially disrupt the global supply chain, impacting the Company's operations[64]. - Disruptions in the availability or increases in the prices of raw materials sourced by suppliers could adversely affect the Company's results of operations[106]. - The company has absorbed some costs related to increased tariffs due to ongoing U.S.-China trade disputes, which could adversely affect sales if costs are passed on to consumers[78]. Financial Performance - Cost of goods sold for the year ended June 30, 2025 decreased by 22.53% to $37,149,085 from $47,950,117 in the previous year[209]. - Gross profit for the year ended June 30, 2025 was $28,993,694, with a gross profit margin of 43.84%, down from 45.61% in the prior year[210]. - Operating expenses decreased by 10.81% to $34,859,456 for the year ended June 30, 2025, primarily due to reduced selling and fulfillment expenses[211]. - Loss from operations increased to $5,865,762 for the year ended June 30, 2025, compared to a loss of $962,892 in the previous year[212]. - Net loss attributable to iPower Inc. for the year ended June 30, 2025 was $4,968,288, an increase of 222.12% from $1,528,159 in the prior year[214]. Investments and Growth Strategy - The company plans to increase investments in R&D for product improvement and new product lines[30]. - The company plans to increase investments in product and brand development and evaluate potential acquisition opportunities to enhance its product catalog[202]. - The company is investing in its own in-house branded product line, which carries significant risks and uncertainties[94]. - Future growth may require additional capital, and there is no assurance that sufficient capital will be available on favorable terms[82]. Risks and Challenges - The company is exposed to risks related to product recalls, intellectual property protection, and competition from established companies with greater resources[58][60]. - The Company may face significant costs and delays due to compliance with evolving privacy and data protection-related laws and regulations[110]. - The company may not be able to adequately protect its intellectual property, which could have a material adverse effect on its business[115]. - The hydroponics industry is experiencing rapid technological changes, with increased competition anticipated as new companies and products enter the market[119]. - The company has identified material weaknesses in its internal control over financial reporting, which could adversely affect investor confidence and the value of its common stock[121]. Digital Strategy and E-commerce - The company launched its e-commerce platforms, Zenhydro.com and simpledeluxe.com, to sell in-house branded products and distribute third-party brands[71]. - The company has initiated a Digital Treasury Strategy as of June 17, 2025, but has limited experience in this area[71]. - The company adopted a Digital Treasury Strategy on June 17, 2025, aimed at creating a digital asset reserve and development strategy[205]. Employee and Management - As of October 9, 2025, the Company had a total of 10 full-time and four part-time employees and consultants[55]. - The company’s business could be disrupted if it loses key executive officers, as their continued services are critical to future success[83]. Market Conditions - Heightened inflation and increased interest rates may negatively affect customer demand for the Company's products[74]. - The U.S. cannabis market's growth is crucial for the company's business, with new regulations in California causing licensing shortages that could decrease product demand[142]. - The U.S. cannabis market remains in its infancy, with early adopter states like California, Colorado, and Washington representing a significant portion of historical revenues[143]. - Evolving laws and regulations regarding cannabis could adversely affect the company's revenues and operational results[149]. Compliance and Regulatory Issues - Changes in U.S. and international trade policies, particularly regarding China, could materially impact the company's business and results of operations[124]. - The U.S. administration imposed a 20% duty on Chinese imports, with subsequent retaliatory tariffs from China, leading to a total tariff rate of 54% on goods imported from China[125]. - The company is subject to increased costs related to SEC and Nasdaq reporting requirements, which are expected to rise after it is no longer classified as an "emerging growth company"[168]. Capital and Financing - The company may require additional capital for growth, which might not be available on acceptable terms, potentially harming business operations[167]. - The company believes existing cash and cash equivalents will be sufficient to finance operations for the next 12 months, contingent on future financial performance[217]. - The company has approximately $1.8 million in unused credit under the revolving line with JPMorgan Chase[218].

Core Insights - iPower Inc. reported a significant decline in total revenue and net loss for the fiscal fourth quarter and full year ended June 30, 2025, indicating challenges in its operations and market conditions [5][9]. Fiscal Q4 2025 Results vs. Year-Ago Quarter - Total revenue for Q4 2025 was $11.5 million, down from $19.5 million in Q4 2024, primarily due to lower product sales to the largest channel partner, although there was growth in SuperSuite supply chain offerings [5]. - Gross profit decreased to $4.9 million from $8.7 million year-over-year, with a gross margin of 43.0%, down from 44.6% [6][7]. - The net loss attributable to iPower was $2.8 million or $(0.09) per share, compared to a net income of $0.7 million or $0.02 per share in the same quarter last year [9][18]. Fiscal 2025 Summary vs Fiscal 2024 - Total revenue for the full fiscal year 2025 was $66.1 million, a decrease from $86.1 million in fiscal 2024 [17]. - The company reported a net loss of $5.0 million for the year, compared to a loss of $1.5 million in fiscal 2024 [17]. - Total debt was reduced by 41% to $3.7 million, enhancing liquidity and balance-sheet flexibility [7][9]. Management Commentary - The CEO highlighted that fiscal 2025 was pivotal for iPower, focusing on long-term growth and profitability despite tariff-related disruptions [4]. - The company transitioned from a China import-based supply chain to a predominantly U.S.-based inventory model, which is expected to improve logistical control and reduce exposure to tariff risks [4]. - iPower launched a domestic joint-venture manufacturing line to support its U.S. supply chain strategy and enhance margin stability [4]. - The company aims to expand its SuperSuite partner network and domestic manufacturing infrastructure to improve supply chain agility and scalability [4].

Core Insights - iPower Inc. has announced a partnership with TCL Smart Home Technology to offer TCL products through its digital retail platform, enhancing product choice and authenticity for consumers [1][2] - The collaboration aims to leverage TCL's product innovation alongside iPower's merchandising and fulfillment capabilities to improve customer experience and drive growth in the consumer electronics category [2] Company Overview - iPower Inc. is a technology-driven online retailer that provides e-commerce services for third-party brands, operating a nationwide fulfillment network and expanding its infrastructure in software, logistics, and manufacturing [4] Partnership Details - The partnership will focus on increasing product selection in smart consumer tech categories, ensuring faster and more reliable delivery through iPower's established operations [6] - iPower will implement a sequenced assortment rollout across popular subcategories and optimize channels to enhance product discovery and conversion rates [6] - The collaboration emphasizes service excellence with unified support and standardized returns to maintain high ratings and reviews [6]

Core Insights - iPower Inc. has achieved a significant milestone with the delivery of its packaging production line, which is part of its "Made-in-USA" initiative aimed at enhancing domestic manufacturing capabilities [1][2] - The company has received confirmed purchase orders and strong interest from prospective customers, indicating a positive market response to its manufacturing efforts [2] - The assembly of the production line is expected to take about one week, followed by a test run phase of two to four weeks, with full-scale production anticipated to commence shortly thereafter [3] Company Overview - iPower Inc. is a data and technology-driven e-commerce retailer and infrastructure company, focusing on expanding its manufacturing and logistics capabilities [5] - The company operates a nationwide fulfillment network and is actively pursuing initiatives in digital asset strategy and blockchain integration [5] - United Package NV LLC, a joint venture between iPower Inc. and Custom Cup Factory, is dedicated to establishing scalable U.S.-based packaging manufacturing operations [4]

Core Viewpoint - iPower Inc. is advancing its digital asset strategy to integrate blockchain capabilities into its operations and product offerings, aiming to enhance capital efficiency and generate income from reserve holdings [1][4][5] Digital Asset Treasury Strategy - iPower plans to allocate capital towards acquiring digital assets as reserve assets, utilizing institutional-grade lending structures to generate low-risk, predictable yields while preserving principal [3] - This strategy is designed to enhance capital efficiency and align with the company's responsibilities as a publicly traded entity [4] Consumer Crypto Product Roadmap - iPower is developing consumer-focused digital asset offerings, including: - Cloud Mining Resale for simplified access to mining rewards [5] - Hardware Wallet Distribution for self-custody solutions [5] - Crypto Financial Product Referrals for curated yield and custody solutions [5] - These products aim to integrate seamlessly into iPower's existing distribution channels, emphasizing utility, education, and security [5] Platform Infrastructure - iPower is preparing a commercial SaaS platform to support cross-border e-commerce, evaluating the use of stablecoin infrastructure for faster and lower-cost international settlements [6] Positioning and Vision - iPower invites strategic partners and investors to participate in building a sustainable crypto-native infrastructure, emphasizing a balanced strategy across treasury, product, and platform layers [7][8] - The company has a long history in e-commerce logistics and fulfillment, which positions it well for future growth in the digital asset space [8]

Core Viewpoint - iPower Inc. is undergoing a strategic transformation to become a crypto treasury and blockchain infrastructure services company, focusing initially on building a Bitcoin treasury strategy as a key growth component [1][2][5]. Group 1: Strategic Shift - The company plans to accumulate Bitcoin as a treasury reserve asset to create a long-term store of value and enhance financial resilience [2][3]. - CEO Lawrence Tan emphasized that the decision to enter Bitcoin is based on a long-term view of digital assets as a viable treasury component, aligning with the company's goals of enhancing balance sheet resilience [3][5]. Group 2: New Services and Integration - iPower intends to expand into blockchain-related retail services, leveraging its operational expertise to deliver consumer-facing offerings [3][4]. - The new services will be integrated into iPower's proprietary SuperSuite platform, which will evolve to support both eCommerce and blockchain-aligned business solutions [4][5]. Group 3: Future Outlook - The strategic pivot reflects iPower's goal of aligning operations with future-facing technologies and market demand, with a primary focus on the digital asset economy and consumer access to blockchain tools [5][6]. - Additional updates regarding treasury activities, new product offerings, and partnerships are expected in the coming months [6].

Core Insights - iPower Inc. has announced a strategic partnership with Borg Rise U.S. to enhance its omnichannel presence through influencer-driven and content-based sales models on platforms like TikTok, Instagram, and YouTube [1][3] - The collaboration aims to leverage Borg Rise U.S.'s network of content creators and livestreaming infrastructure to create innovative social commerce campaigns that enhance consumer engagement and conversion [2][5] Company Overview - iPower Inc. is a tech and data-driven online retailer providing value-added eCommerce services, with capabilities including a full spectrum of online channels, robust fulfillment capacity, and a nationwide warehouse network [4] - Borg Rise U.S. focuses on livestreaming, influencer marketing, and cross-border social commerce, empowering brands through immersive digital experiences [5] Strategic Goals - The partnership will co-develop influencer campaigns, live selling initiatives, and digital storefronts to enhance iPower's service offerings in social commerce [7] - The collaboration will utilize content performance data to improve targeting and personalization, helping emerging brands scale through creator ecosystems [7]

Core Viewpoint - iPower Inc. has initiated a new manufacturing strategy by making a deposit payment for a fully integrated equipment line, marking a significant step in its "Made in USA" initiative under the SuperSuite platform [1][2]. Group 1: Manufacturing Strategy - The deposit payment secures the start of equipment production for iPower's joint venture, United Package NV LLC, aimed at reshoring manufacturing capabilities [2]. - The equipment production is expected to be completed within two months, with a full operational launch targeted for Q4 2025 [2]. Group 2: Strategic Goals - The CEO of iPower emphasized that this investment strengthens operational resilience and enhances value for partners and customers through improved delivery and quality control [3]. - The initiative aims to build a sustainable supply chain ecosystem in the U.S. by localizing key manufacturing functions [3]. Group 3: Joint Venture Benefits - United Package will leverage iPower's digital sales infrastructure and nationwide fulfillment capabilities, along with its partner's offline sales channels and established B2B customer base, to enhance market efficiency [3][4]. - The joint venture is designed to provide comprehensive support for domestic manufacturing, including legal compliance, facility setup, labor sourcing, logistics, and last-mile delivery [4]. Group 4: Operational Improvements - The initiative is expected to lead to shorter lead times and improved delivery reliability, localized control over production timelines and quality, optimized inventory management with real-time visibility, and expanded access to both digital and traditional sales channels [8].

Core Viewpoint - iPower Inc. has announced the formation of a joint venture, United Package NV LLC, marking a significant step in establishing a "Made in USA" manufacturing initiative within its SuperSuite Supply Chain Platform [1][2][3] Group 1: Joint Venture and Manufacturing Initiative - The joint venture aims to create a localized manufacturing infrastructure in the U.S. focused on producing packaging materials to meet the growing demands of domestic businesses [2][3] - This initiative is part of iPower's strategy to reshore critical manufacturing capabilities and enhance supply chain resilience [3][4] Group 2: Benefits of the "Made in USA" Module - The "Made in USA" module within the SuperSuite is designed to support manufacturing initiatives by providing legal guidance, facility planning, workforce development, and access to distribution and e-commerce infrastructure [3][7] - Key benefits include faster turnaround times, reduced exposure to global shipping volatility, enhanced sustainability, transparent vendor collaboration, and improved inventory responsiveness [7] Group 3: Future Plans - iPower plans to expand its "Made in USA" initiative by forming additional strategic ventures and supporting a new wave of domestic manufacturers across various categories [4]