iPower (IPW) - 2025 Q3 - Quarterly Results

Management Commentary Management discussed strategic supply chain diversification, SuperSuite business growth, and improved operating expenses and debt reduction - The company is actively diversifying its supply chain by expanding manufacturing into the U.S. and sourcing from new geographies to reduce external volatility[2] - The SuperSuite business has grown to represent approximately 20% of the total revenue mix, indicating strong demand for its end-to-end supply chain solutions[2] - Despite revenue challenges, the company achieved a 10% improvement in operating expenses and reduced total debt obligations by nearly 20% during the quarter[2] Fiscal Third Quarter 2025 Financial Results iPower reported $16.6 million revenue and a $0.3 million net loss, offset by improved operating expenses and reduced total debt Fiscal Q3 2025 vs. Fiscal Q3 2024 Key Metrics | Metric | Fiscal Q3 2025 | Fiscal Q3 2024 | | :--- | :--- | :--- | | Total Revenue | $16.6 million | $23.3 million | | Gross Profit | $7.2 million | $10.4 million | | Gross Margin | 43.3% | 44.5% | | Net (Loss) Income | $(0.3) million | $1.0 million | | (Loss) Earnings Per Share | $(0.01) | $0.03 | - The decrease in revenue was primarily driven by lower product sales to the Company's largest channel partner, partially offset by growth in SuperSuite supply chain offerings[3] - Total operating expenses improved by 15% to $7.4 million, down from $8.8 million in the prior-year quarter, due to optimization initiatives and lower fulfillment costs[6] - Total debt was reduced by 43% to $3.6 million as of March 31, 2025, compared to $6.3 million as of June 30, 2024, strengthening the company's balance sheet[4][7] Financial Statements The unaudited condensed consolidated financial statements detail the company's financial position and performance, reflecting reduced assets and liabilities Unaudited Condensed Consolidated Balance Sheets As of March 31, 2025, total assets decreased to $40.5 million and total liabilities significantly reduced to $19.8 million Balance Sheet Summary (As of March 31, 2025 vs. June 30, 2024) | Account | March 31, 2025 (Unaudited) | June 30, 2024 | | :--- | :--- | :--- | | Cash and cash equivalent | $2,192,254 | $7,377,837 | | Total current assets | $24,805,158 | $35,010,737 | | Total assets | $40,506,481 | $51,295,857 | | Total current liabilities | $12,947,147 | $23,770,015 | | Total liabilities | $19,788,534 | $28,279,824 | | Total stockholders' equity | $20,717,947 | $23,016,033 | Unaudited Condensed Consolidated Statements of Operations For the three months ended March 31, 2025, total revenues were $16.6 million, resulting in a $0.3 million net loss Statement of Operations Summary (Three Months Ended March 31) | Account | 2025 (Unaudited) | 2024 (Unaudited) | | :--- | :--- | :--- | | Total revenues | $16,569,678 | $23,308,508 | | Gross Profit | $7,176,974 | $10,367,109 | | Total operating expenses | $7,445,977 | $8,765,833 | | (Loss) Income from Operations | $(269,003) | $1,601,276 | | Net (Loss) Income Attributable to iPower | $(339,599) | $1,016,082 | | Basic (Losses) Earnings Per Share | $(0.01) | $0.03 | Conference Call iPower will host a conference call on May 15, 2025, at 4:30 p.m. ET to discuss fiscal Q3 2025 results, with webcast available - A conference call to discuss results is scheduled for Thursday, May 15, 2025, at 4:30 p.m. Eastern time[8][10] - A live webcast and replay of the call will be accessible in the Events & Presentations section of the company's website, **www.meetipower.com**[11](index=11&type=chunk)