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Jun 30
Ispire Q4 2025 Earnings Report
Ispire reported lower revenue and a wider net loss in Q4 2025 compared to the prior year.
Key Takeaways
Revenue fell sharply year-over-year, driven by weaker sales in North America and Asia Pacific. Gross profit contracted, while operating expenses remained high, leading to a wider net loss. EPS was negative, reflecting continued challenges in scaling operations profitably.
Revenue declined to $20.1M from $28.5M in Q4 2024
Net loss widened to $8.8M from $6.3M last year
Gross profit dropped to $3.6M from $4.6M
Operating expenses remained elevated at $12.8M
Ispire
Ispire
Ispire Revenue by Segment
Ispire Revenue by Geographic Location
Revenue by Segment
Vaping Products Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.comNorth America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comAfrica Revenue
CapyFin.comSouth America Revenue
CapyFin.com Forward Guidance
Management emphasized long-term growth opportunities in Europe and OEM/ODM channels, but near-term profitability pressures remain due to high expenses and weaker demand in North America.
Positive Outlook
- Europe remains the largest contributor to revenue
- OEM/ODM opportunities expected to grow in FY26
- Malaysia facility expansion progressing
- Strong distribution network across 30+ countries
- Focus on product innovation and technology
Challenges Ahead
- North America sales declined significantly YoY
- Operating expenses remain high
- Net losses widened in Q4
- Revenue fell across most regions
- Continued pressure on gross margins