iPower Reports Fiscal First Quarter 2026 Results

Core Viewpoint - iPower Inc. reported a solid start to fiscal 2026, highlighting improvements in cost management and operational efficiencies, alongside a strategic shift towards a diversified supply chain [3]. Financial Performance - Total revenue for Q1 2026 was $12.0 million, down from $19.0 million in Q1 2025, primarily due to lower product sales to the largest channel partner, partially offset by growth in SuperSuite offerings [4][8]. - Gross profit decreased to $4.8 million from $8.5 million year-over-year, with a gross margin of 40.0%, down from 44.7%, attributed to an increase in services income [5][8]. - Operating expenses were reduced by 42% to $6.5 million compared to $11.2 million in the prior year, driven by personnel reductions and improved operational efficiencies [6][8]. - The net loss attributable to iPower improved to $0.5 million or $(0.51) per share, compared to a net loss of $2.1 million or $(1.94) per share in the same quarter last year [7][8]. Debt and Cash Position - Cash and cash equivalents were $0.9 million as of September 30, 2025, down from $2.0 million at June 30, 2025 [7]. - Total debt was reduced by 48% to $1.9 million from $3.7 million as of June 30, 2025, reflecting the company's debt paydown efforts [7][8]. Strategic Initiatives - The company is transitioning to a more diversified and domestically anchored supply chain, reducing reliance on China imports, which enhances logistical control and mitigates tariff-related risks [3]. - iPower is focused on building a more efficient and profitable organization, with plans to leverage its e-commerce infrastructure to connect consumers with digital asset products [3].