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iPower (IPW) - 2024 Q2 - Quarterly Report
2024-02-14 21:16
For the quarterly period ended December 31, 2023 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-40391 iPower Inc. (Exact name of registrant as specified in its charter) (State ...
iPower (IPW) - 2024 Q1 - Earnings Call Transcript
2023-11-15 03:32
Financial Data and Key Metrics Changes - Net loss attributable to the company improved by $1.3 million, resulting in a loss of $0.04 per share compared to a net loss of $4.2 million or $0.14 per share in the same period of fiscal 2023 [11] - Total revenue increased by 2% to $26.5 million compared to $26 million in the prior year, driven by growth from super suite supply chain offerings and strong sales from in-house products [36] - Gross profit increased by 18% to $11.8 million compared to $10 million in the same quarter of fiscal 2023, with gross margin rising 600 basis points to 44.4% [36] Business Line Data and Key Metrics Changes - Sales of in-house products accounted for over 90% of total revenue, with strong results in fans, shelving, and outdoor pergola furniture [15] - Non-hydroponics products represented over 75% of total revenue for the second consecutive quarter, indicating a successful diversification strategy [15] Market Data and Key Metrics Changes - The super suite supply chain partnerships are generating approximately $600,000 in monthly revenue, contributing to the overall revenue growth [16] - Cash flow from operations improved significantly to $4 million compared to less than $400,000 in the prior fiscal year, driven by better supply chain conditions [18] Company Strategy and Development Direction - The company is focusing on diversifying its revenue mix and achieving greater operational efficiencies while continuing to invest in high-quality hydroponics products as dictated by consumer demand [15][35] - The company is leveraging social commerce channels, particularly TikTok, to enhance brand reputation and drive product sales [8][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of consumer demand for their product portfolio and highlighted the importance of operational improvements and debt reduction [35][38] - The company is well-positioned to capitalize on prospective acquisition opportunities while executing profitable growth initiatives [35] Other Important Information - Total operating expenses improved by 11% to $13 million compared to $14.6 million for the same period in 2023, primarily due to a decrease in impairment loss on goodwill [17] - Cash and cash equivalents were $2.7 million as of September 30, 2023, down from $3.7 million on June 30, 2023, while total debt decreased to $7 million from $11.8 million [37] Q&A Session Summary Question: Insights on TikTok as a selling platform - Management noted that TikTok is ramping up quickly, with home and kitchen goods performing well, and highlighted the attractive economics of selling on the platform due to lower merchant fees and subsidized shipping [20][22] Question: Future gross margin expectations - Management indicated that gross margins are expected to remain above 40% in a steady-state environment, with fluctuations based on product mix and sales performance [24][41] Question: Expansion of SuperSuite partnerships - Management confirmed plans to continue adding high-quality partners to the SuperSuite business, with expectations for revenue growth in that category [28][29]
iPower (IPW) - 2024 Q1 - Quarterly Report
2023-11-14 21:06
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number 001-40391 iPower Inc. (Exact name of registrant as specified in its charter) (St ...
iPower (IPW) - 2023 Q4 - Earnings Call Transcript
2023-09-14 22:10
iPower Inc. (NASDAQ:IPW) Q4 2023 Results Conference Call September 14, 2023 4:30 PM ET Company Participants Lawrence Tan - Chairman and CEO Kevin Vassily - CFO Conference Call Participants Scott Fortune - ROTH MKM Thierry Wuilloud - Water Tower Research Operator Good afternoon, everyone and thank you for participating in today’s conference call to discuss iPower’s financial results for its Fiscal Fourth Quarter and Full Year 2023 ended June 30, 2023. Joining us today are iPower’s Chairman and CEO, Mr. Lawre ...
iPower (IPW) - 2023 Q4 - Annual Report
2023-09-14 21:48
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year June 30, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number: 001-40391 iPower Inc. (Exact name of registrant as specified in its charter) Nevada 82-5144171 (State or other ...
iPower (IPW) - 2023 Q3 - Earnings Call Transcript
2023-05-16 02:44
iPower Inc. (NASDAQ:IPW) Q3 2023 Earnings Conference Call May 15, 2023 4:30 PM ET Company Participants Lawrence Tan - Chairman and Chief Executive Officer Kevin Vassily - Chief Financial Officer Conference Call Participants Scott Fortune - ROTH Operator Good afternoon, everyone and thank you for participating in today’s conference call to discuss iPower’s financial results for its Fiscal Third Quarter 2023 ended March 31, 2023. Joining us today are iPower’s Chairman and CEO, Mr. Lawrence Tan and the company ...
iPower (IPW) - 2023 Q3 - Quarterly Report
2023-05-15 20:12
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number 001-40391 iPower Inc. (Exact name of registrant as specified in its charter) (State or other jur ...
iPower (IPW) Investor Presentation - Slideshow
2023-03-29 12:32
An introduction. Company overview 2 • Experienced Ecommerce Capabilities. iPower offers thousands of stock keeping units from its in-house brands as well as hundreds of other brands through its ecommerce channel partners websites, such as www.zenhydro.com and www.simpledeluxe.com • Extensive In-House Brands. The company offers a broad selection of high-quality products under its in-house brands, which represented ~80% of total sales in FY2022 | --- | --- | --- | |--------------|-------|-----------| | | | | ...
iPower (IPW) - 2023 Q2 - Earnings Call Transcript
2023-02-15 02:09
iPower Inc. (NASDAQ:IPW) Q2 2023 Results Conference Call February 14, 2023 4:30 PM ET Company Participants Lawrence Tan - Chairman and Chief Executive Officer Kevin Vassily - Chief Financial Officer Conference Call Participants Scott Fortune - ROTH Capital Partners Michael Baker - D.A. Davidson Operator Good afternoon, everyone and thank you for participating in today’s conference call to discuss iPower’s Financial Results for its Fiscal Second Quarter 2023 ended Decelerating 31, 2022. Joining us today are ...
iPower (IPW) - 2023 Q2 - Quarterly Report
2023-02-14 22:02
Table of Contents Commission file number 001-40391 iPower Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Indicate by check mark if the registrant is a shell company (as defined ...