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ISPR

Ispire Technology Inc.

ISPR

Ispire Technology Inc. • NASDAQ
$2.44 ▼ -0.41% (-0.01)
Market Cap $139.62 M
52w High $6.38
52w Low $1.44
Dividend Yield 0%
P/E -3.75
Volume 13.46K
Outstanding Shares 57.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $30.351M ▲ $7.842M ▼ $-3.259M ▲ -10.737% ▲ $-0.06 ▲ $-2.407M ▼
Q4-2025 $20.137M ▼ $17.118M ▲ $-14.79M ▼ -73.446% ▼ $-0.26 ▼ $8.073M ▲
Q3-2025 $26.191M ▼ $15.361M ▲ $-10.856M ▼ -41.452% ▼ $-0.19 ▼ $-10.077M ▼
Q2-2025 $41.828M ▲ $15.083M ▲ $-7.999M ▼ -19.123% ▼ $-0.14 ▼ $-6.825M ▼
Q1-2025 $39.338M $12.937M $-5.595M -14.223% $-0.099 $-4.775M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $22.659B ▲ $96.446B ▲ $98.215B ▲ $-1.769B ▼
Q4-2025 $24.352M ▲ $102.217M ▼ $101.612M ▲ $604.694K ▼
Q3-2025 $23.591M ▼ $115.728M ▼ $100.943M ▼ $14.785M ▼
Q2-2025 $34.373M ▼ $132.042M ▲ $107.808M ▲ $24.234M ▼
Q1-2025 $37.732M $128.953M $98.239M $30.714M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-10.856M ▲ $-12.498M ▼ $-585.477K ▲ $2.279M ▲ $-10.804M ▼ $-12.316M ▼
Q4-2025 $-14.79M ▼ $4.695M ▲ $-3.509M ▼ $-425.713K ▼ $760.611K ▲ $3.578M ▲
Q3-2025 $-10.856M ▼ $-12.498M ▼ $-585.477K ▼ $2.279M ▲ $-10.804M ▼ $-12.316M ▼
Q2-2025 $-7.999M ▼ $-3.182M ▼ $-178.815K ▼ $0 ▼ $-3.361M ▼ $-3.361M ▼
Q1-2025 $-5.925M $3.354M $7.811M $10.786M $21.951M $3.279M

Five-Year Company Overview

Income Statement

Income Statement Ispire is still in the “build” phase, not the “harvest” phase. Sales have been growing from a small base and the business is clearly able to generate a positive gross profit, but the margin is thin. As the company has invested in growth, operating costs have climbed faster than revenues, turning what was roughly break‑even into clear operating and net losses. Earnings per share have moved further into negative territory recently, which shows that profitability is moving away, not closer, in the short term. The key question is whether revenue can scale enough, and gross margins can improve enough, to absorb the current cost structure.

Balance Sheet

Balance Sheet The balance sheet is light and quite lean. Total assets are modest, and cash has drifted down over time, leaving only a limited financial cushion. Debt remains low, which is a positive, but equity has been compressed toward a very thin level, reflecting accumulated losses since listing. This combination points to a company with limited shock absorbers: there is not a lot of spare capital to withstand prolonged losses or major setbacks without raising additional funds or improving results.

Cash Flow

Cash Flow Cash flow mirrors the income statement story. The core business has been consuming cash rather than generating it, with operating cash flow negative in most recent years. Free cash flow is also negative, though the absolute burn is not huge; the company is not spending heavily on physical assets, so most of the cash use is tied to running and growing the business. Still, with a small cash balance, even a modest but persistent burn rate can become an issue over time if it is not offset by new funding or a turn toward cash‑generating operations.

Competitive Edge

Competitive Edge Competitively, Ispire has some clear strengths. It focuses on vaping hardware for both nicotine and cannabis, combines branded products with contract manufacturing for others, and operates globally. Its large patent portfolio around coil and heating technology, plus vertical control from design to manufacturing, gives it some protection and differentiation in a crowded market. At the same time, it operates in an intensely competitive, fast‑changing, and highly regulated space. Customer preferences can shift quickly, and regulatory decisions can sharply reshape market access, especially in the U.S. The company’s advantage will depend on how well it can keep converting its technology and partnerships into sticky, profitable customer relationships.

Innovation and R&D

Innovation and R&D Innovation is one of Ispire’s main calling cards. The company has built a broad patent base around its coil systems, vapor production, and filling technologies, and it is pushing newer ideas such as self‑sealing cartridges and a blockchain‑based age‑verification system. It is also investing in manufacturing flexibility, including expansion outside China to Malaysia, and tailoring designs learned from the nicotine market to cannabis devices. The upside is meaningful if these technologies become standards or win key regulatory approvals, but there is execution risk: patents and prototypes must translate into widely adopted, profitable products, in a market where rules and tastes are still evolving.

Summary

Overall, Ispire looks like an early‑stage, innovation‑driven vaping hardware company with promising technology but still‑fragile financials. Revenues are growing but from a small base, profitability is not yet in sight, and the balance sheet provides only a modest buffer, which heightens sensitivity to ongoing losses. On the other hand, the firm’s patent portfolio, dual focus on nicotine and cannabis, global reach, and regulatory‑aware product development give it a differentiated strategic position. The big unknowns are the pace of revenue scaling, the path to sustainable margins, and how regulatory outcomes and capital needs will shape its trajectory over the next few years.

NEWS

November 26, 2025 · 5:34 PM UTC

Ispire Technology Unveils Next-Gen Cannabis Hardware Ecosystem at MJBizCon 2025

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November 17, 2025 · 8:30 AM UTC

Ispire Technology and IKE Tech Applaud FDA Crackdown, Call for Tech-Driven Enforcement to Prevent Illicit Trade and Protect Youth

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November 6, 2025 · 7:00 AM UTC

Ispire Technology Inc. Reports Financial Results for Fiscal First Quarter 2026

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November 4, 2025 · 4:05 PM UTC

Ispire Technology Inc. Schedules Fiscal First Quarter 2026 Earnings Conference Call

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September 16, 2025 · 7:00 AM UTC

Ispire Technology Inc. Reports Financial Results for the Fiscal Year 2025

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