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Mar 31, 2024
Ispire Q3 2024 Earnings Report
Reported a revenue increase driven by North American cannabis vaping hardware sales, alongside a gross profit increase, while facing higher operating expenses and a net loss.
Key Takeaways
Ispire Technology Inc. reported a 24% increase in revenue to $30.0 million for the fiscal third quarter ended March 31, 2024, driven by a 57% increase in North American cannabis vaping hardware sales. Gross profit increased by 35% to $6.1 million. However, the company reported a net loss of $5.9 million, or $0.11 per share, compared to a net loss of $2.3 million, or $0.05 per share, for the third quarter of fiscal 2023.
Revenue increased by 24% year-over-year to $30.0 million.
Gross profit increased by 35% year-over-year to $6.1 million.
North American cannabis vaping hardware revenue increased by 57% year-over-year to $11.9 million.
Closed a $12.3 million public offering.
Ispire
Ispire
Ispire Revenue by Segment
Ispire Revenue by Geographic Location
Revenue by Segment
Vaping Products (North America) Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.comNorth America (U.S. and Canada) Revenue
CapyFin.comAsia Pacific (excluding PRC) Revenue
CapyFin.comAfrica Revenue
CapyFin.comSouth America Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the press release.