Core Insights - iPower Inc. has made significant operational advancements in its SuperSuite supply chain platform, including the onboarding of a new supply-chain partner and the introduction of additional last-mile logistics vendors, which are already operational and enhancing unit economics [1]. Group 1: Supply Chain Developments - Koala Story, a healthy pet snack brand, has been onboarded as a new supply chain partner within iPower's SuperSuite ecosystem, with an initial focus on U.S.-manufactured Chicken Chips dog treats [2]. - The products from Koala Story are produced by a seasoned U.S. manufacturing partner that supports major national consumer brands, indicating a strong foundation for growth in the pet snack category, which is experiencing premiumization trends and repeat purchase behavior [3]. Group 2: Logistics Enhancements - iPower has engaged new logistics partners, including UniUni and GoFo, to enhance delivery efficiency and reduce last-mile delivery costs, with these partnerships already live within the logistics network [4]. - The new logistics partnerships are expected to lower last-mile delivery costs and improve delivery performance in key regions, contributing to overall operational efficiency [4]. Group 3: Strategic Focus - The CEO of iPower emphasized that SuperSuite is designed to scale through effective operational execution and disciplined cost management, focusing on onboarding quality partners and reducing fulfillment costs to create durable value [5]. - iPower is continuously evaluating its operating and capital structure to maximize long-term stockholder value as part of its long-term strategy [5]. Group 4: 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, operating a nationwide fulfillment network and expanding its infrastructure across software, logistics, and manufacturing [6].

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].