Ipower Inc (IPW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed May 20, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IPW SEC filings page.
Ipower Inc (IPW) reported $66.1M in revenue for fiscal year 2025, down 23.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
iPower’s dominant mechanic is gross-margin resilience paired with operating-cost pressure as volume contracts.
FY2025 revenue was$66.1M , while gross margin held at43.8% , showing that product-level economics remained comparatively stable. Operating margin nevertheless widened its loss to-8.9% from-1.1% , indicating that the sharper problem was below gross profit, where costs were too large for the reduced sales base.
Cash conversion reversed: operating cash flow moved from
Deleveraging accompanied shrinkage: debt-to-equity declined from 1.2x to 1.0x as FY2025 assets contracted, indicating balance-sheet reduction rather than growth investment. The 1.3x current ratio and 34.8-month liquidity comparison describe a positive reported short-term position, but not operating self-sufficiency because FY2025 operating cash flow was negative.
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ipower Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ipower Inc held $1.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $579K of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ipower Inc scores 59/100 among other emerging companies.
Ipower Inc had 31M shares outstanding at the end of fiscal year 2025, against 31M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ipower Inc scores 62/100 among other emerging companies.
Not available for Ipower Inc, and counted as zero in the overall score.
Ipower Inc reported revenue of $66.1M in fiscal year 2025, against $86.1M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Ipower Inc scores 25/100 among other emerging companies.
Not available for Ipower Inc, and counted as zero in the overall score.
Ipower Inc's cash, cash equivalents and investments came to $1.7M at the end of fiscal year 2025, against $17.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ipower Inc scores 16/100 among other emerging companies.
Ipower Inc scores 1.00, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ipower Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Ipower Inc reported a net loss of $5.0M while operations used $579K of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ipower Inc reported an operating loss of $5.9M against $427K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ipower Inc generated $3.5M in revenue in Q3 2026. This represents a decrease of 78.2% from the same quarter a year earlier. Against the prior quarter it is down 51.0%.
Ipower Inc's EBITDA was -$961K in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 583.5% from the same quarter a year earlier. Against the prior quarter it is up 57.1%.
Ipower Inc reported -$3.5M in net income in Q3 2026. This represents a decrease of 909.1% from the same quarter a year earlier. Against the prior quarter it is down 189.5%.
Ipower Inc earned -$2.38 per diluted share (EPS) in Q3 2026. This represents a decrease of 621.2% from the same quarter a year earlier.
Cash & Balance Sheet
Ipower Inc held $714K in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Ipower Inc's gross margin was 21.6% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 21.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 22.4 percentage points.
Ipower Inc's operating margin was -32.7% in Q3 2026, reflecting core business profitability. This is down 30.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.
Ipower Inc's net profit margin was -98.8% in Q3 2026, showing the share of revenue converted to profit. This is down 96.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 82.0 percentage points.
Ipower Inc's ROE was -20.1% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 18.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.5 percentage points.
Capital Allocation
None of these metrics is reported for Q3 2026.
IPW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5M-78.2% | $7.1M-62.6% | $12.0M-36.8% | $12.0M-38.2% | $16.0M-31.2% | $19.1M+13.5% | $19.0M-28.3% | $19.5M-16.9% |
| Cost of Revenue | $2.7M-70.1% | $4.0M-62.6% | $7.2M-31.5% | $6.8M-37.3% | $9.2M-29.0% | $10.7M+12.7% | $10.5M-28.7% | $10.8M-24.9% |
| Gross Profit | $756K-89.0% | $3.1M-62.6% | $4.8M-43.4% | $5.3M-39.4% | $6.9M-33.9% | $8.4M+14.6% | $8.5M-27.8% | $8.7M-4.1% |
| SG&A Expenses | N/A | $2.5M-18.7% | $1.3M-75.2% | $2.3M-19.1% | $1.9M-42.4% | $3.1M+4.9% | $5.3M+79.5% | $2.9M-25.8% |
| Operating Income | -$1.1M-242.1% | -$2.4M-456.6% | -$1.7M+38.3% | -$3.5M-376.0% | -$335K-120.9% | $684K+126.8% | -$2.7M-116.5% | $1.3M+141.9% |
| EBITDA | -$961K-583.5% | -$2.2M-354.7% | -$1.5M+41.3% | -$3.3M-325.3% | -$141K-107.8% | $880K+137.4% | -$2.5M-139.0% | $1.5M |
| Interest Expense | $0-100.0% | $70K-49.9% | $62K-53.0% | $74K-61.0% | $82K-54.6% | $140K-9.3% | $131K-39.1% | $189K-25.0% |
| Income Tax | -$327K-5230.5% | -$821K-780.9% | -$464K+27.2% | -$745K-321.5% | $6K-98.3% | $121K+117.5% | -$637K-130.7% | $336K+155.6% |
| Net Income | -$3.5M-909.1% | -$1.2M-645.3% | -$534K+73.7% | -$2.8M-528.5% | -$342K-133.7% | $219K+111.4% | -$2.0M-57.7% | $657K+122.2% |
| EPS (Basic) | -$2.38-621.2% | -$1.08-614.3% | -$0.51+73.7% | -$0.09-550.0% | -$0.33-1200.0% | $0.21+450.0% | -$1.94-4750.0% | $0.02+120.0% |
| EPS (Diluted) | -$2.38-621.2% | -$1.08 | -$0.51+73.7% | -$0.09-550.0% | -$0.33 | $0.21 | -$1.94 | $0.02+120.0% |
| Diluted Shares (Avg) | 1M+38.7% | 1M | 1M+0.2% | N/A | 1M | 1M | 1M | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
IPW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $31.3M-22.7% | $34.0M-22.5% | $28.6M-32.6% | $35.6M-30.5% | $40.5M-19.7% | $43.9M-10.6% | $42.4M-17.8% | $51.3M-14.6% |
| Current Assets | $14.5M-41.6% | $14.7M-48.0% | $11.8M-55.1% | $19.4M-44.7% | $24.8M-25.0% | $28.3M-7.3% | $26.3M-19.8% | $35.0M-15.1% |
| Cash & Equivalents | $714K-67.4% | $2.0M-30.1% | $904K-64.9% | $1.7M-76.8% | $2.2M-19.2% | $2.9M+93.4% | $2.6M-5.6% | $7.2M+93.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.5M-74.0% | $3.6M-60.7% | $4.3M-50.0% | $8.1M-22.9% | $9.8M-17.7% | $9.2M-41.8% | $8.7M-42.4% | $10.5M-48.8% |
| Accounts Receivable | $7.1M-30.6% | $5.2M-62.9% | $5.1M-58.4% | $6.1M-58.5% | $10.2M-39.6% | $13.9M+18.4% | $12.3M-7.2% | $14.7M+4.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0-100.0% | $3.0M0.0% | $3.0M0.0% | $3.0M0.0% | $3.0M0.0% | $3.0M0.0% | $3.0M0.0% | $3.0M0.0% |
| Total Liabilities | $14.2M-28.5% | $16.0M-27.8% | $10.7M-49.8% | $17.4M-38.6% | $19.8M-37.1% | $22.2M-29.2% | $21.3M-33.3% | $28.3M-27.9% |
| Current Liabilities | $6.6M-49.0% | $8.0M-44.7% | $8.1M-42.8% | $14.5M-39.2% | $12.9M-51.1% | $14.5M-43.8% | $14.2M-32.7% | $23.8M+1.9% |
| Non-Current Liabilities | $7.6M+10.4% | $8.0M+4.4% | $2.6M-63.9% | $2.9M-35.4% | $6.8M+38.2% | $7.7M+39.1% | $7.1M-34.7% | $4.5M-71.6% |
| Total Equity | $17.2M-17.2% | $18.0M-17.1% | $17.9M-15.2% | $18.3M-20.6% | $20.7M+9.2% | $21.7M+22.2% | $21.1M+7.3% | $23.0M+10.3% |
| Retained Earnings | -$20.4M-64.6% | -$16.9M-40.6% | -$15.7M-28.3% | -$15.2M-48.6% | -$12.4M-13.7% | -$12.0M-1.2% | -$12.3M-22.7% | -$10.2M-17.6% |
Not reported in any period shown, so not listed: Long-Term Debt.
IPW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$334K-137.6% | -$923K-3428.5% | $1.7M+219.1% | -$79K-107.8% | $888K+735.7% | $28K-97.2% | -$1.4M-134.9% | $1.0M-29.0% |
| Depreciation & Amortization | $183K-5.5% | $198K+0.8% | $198K+0.8% | $193K-1.8% | $194K-1.5% | $196K-2.3% | $197K-2.6% | $197K-2.3% |
| Stock-Based Compensation | N/A | N/A | $150K-27.1% | N/A | N/A | N/A | $206K+74.7% | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.0M-28.8% |
| Investing Cash Flow | -$77K+90.9% | -$4.6M-885.7% | -$1.0M-413.1% | -$522K | -$856K | -$462K | -$202K | $0-100.0% |
| Financing Cash Flow | -$884K-44.8% | $6.6M+779.8% | -$1.8M+46.3% | $170K-95.4% | -$611K-156.8% | $750K+135.7% | -$3.3M+34.8% | $3.7M+336.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IPW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.6%-21.1pp | 44.0%0.0pp | 40.0%-4.6pp | 43.8%-0.8pp | 42.7%-1.7pp | 44.0%+0.4pp | 44.6%+0.3pp | 44.6%+5.9pp |
| Operating Margin | -32.7%-30.6pp | -34.2%-37.8pp | -14.1%+0.3pp | -28.9%-35.3pp | -2.1%-9.0pp | 3.6%+18.8pp | -14.4%-9.7pp | 6.5%+19.3pp |
| Net Margin | -98.8%-96.6pp | -16.7%-17.9pp | -4.4%+6.2pp | -23.4%-26.8pp | -2.1%-6.5pp | 1.1%+12.6pp | -10.7%-5.8pp | 3.4%+16.0pp |
| Return on Equity | -20.1%-18.5pp | -6.6%-7.6pp | -3.0%+6.6pp | -15.4%-18.3pp | -1.7%-7.0pp | 1.0%+11.8pp | -9.6%-3.1pp | 2.9%+17.0pp |
| Return on Assets | -11.0%-10.2pp | -3.5%-4.0pp | -1.9%+2.9pp | -7.9%-9.2pp | -0.9%-2.9pp | 0.5%+4.4pp | -4.8%-2.3pp | 1.3%+6.2pp |
| Current Ratio | 2.20+0.3x | 1.83-0.1x | 1.46-0.4x | 1.34-0.1x | 1.92+0.7x | 1.95+0.8x | 1.86+0.3x | 1.47-0.3x |
| Debt-to-Equity | 0.83-0.1x | 0.89-0.1x | 0.60-0.4x | 0.95-0.3x | 0.96-0.7x | 1.02-0.7x | 1.01-0.6x | 1.23-0.7x |
| Asset Turnover | 0.11-0.3x | 0.21-0.2x | 0.420.0x | 0.340.0x | 0.40-0.1x | 0.43+0.1x | 0.45-0.1x | 0.380.0x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.2%-0.9pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ipower Inc IPW | FY2025 | $66.1M | -$5.0M | -7.5% | $3.3M | 27/100 |
| NFT LIMITED MI | FY2025 | $726K | -$1.4M | N/A | $485K | — |
| Yunji YJ | FY2025 | $45.3M | -$19.1M | -42.0% | $9.4M | 40/100 |
| Linkage Global Inc LGCB | FY2025 | $5.1M | -$7.4M | N/A | $20.0M | 17/100 |
| Mogu Inc MOGU | FY2026 | $18.2M | $266K | 1.5% | $15.1M | 42/100 |
| Meiwu Technology Company Ltd WNW | FY2025 | $7.1M | -$18.6M | N/A | $60.8M | 60/100 |
Where Ipower Inc Ranks
Frequently Asked Questions
What is Ipower Inc's annual revenue?
Ipower Inc (IPW) reported $66.1M in total revenue for fiscal year 2025. This represents a -23.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ipower Inc's revenue growing?
Ipower Inc (IPW) revenue declined by 23.2% year-over-year, from $86.1M to $66.1M in fiscal year 2025.
Is Ipower Inc profitable?
No, Ipower Inc (IPW) reported a net income of -$5.0M in fiscal year 2025, with a net profit margin of -7.5%.
What is Ipower Inc's EBITDA?
Ipower Inc (IPW) had EBITDA of -$5.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ipower Inc's gross margin?
Ipower Inc (IPW) had a gross margin of 43.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ipower Inc's operating margin?
Ipower Inc (IPW) had an operating margin of -8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ipower Inc's net profit margin?
Ipower Inc (IPW) had a net profit margin of -7.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ipower Inc's return on equity (ROE)?
Ipower Inc (IPW) has a return on equity of -27.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ipower Inc's free cash flow?
Ipower Inc (IPW) recorded an outflow of $743K in free cash flow during fiscal year 2025. This represents a -112.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ipower Inc's operating cash flow?
Ipower Inc (IPW) recorded an outflow of $579K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ipower Inc's total assets?
Ipower Inc (IPW) had $35.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ipower Inc's capital expenditures?
Ipower Inc (IPW) invested $164K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ipower Inc's current ratio?
Ipower Inc (IPW) had a current ratio of 1.34 as of fiscal year 2025, which is considered adequate.
What is Ipower Inc's debt-to-equity ratio?
Ipower Inc (IPW) had a debt-to-equity ratio of 0.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ipower Inc's return on assets (ROA)?
Ipower Inc (IPW) had a return on assets of -13.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ipower Inc's P/E ratio?
Ipower Inc (IPW) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $3.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ipower Inc's price-to-sales ratio?
Ipower Inc (IPW) trades at 0.1x sales, its market capitalization divided by revenue of $34.7M revenue, trailing 12 months to March 31, 2026. The market capitalization is $3.3M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Ipower Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Ipower Inc (IPW) held $1.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $579K over that year. Dividing the one by the other, the reported balance equals about 35 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Ipower Inc's Altman Z-Score?
Ipower Inc (IPW) has an Altman Z-Score of 1.00, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ipower Inc's Piotroski F-Score?
Ipower Inc (IPW) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ipower Inc's earnings high quality?
Ipower Inc (IPW) reported a net loss of $5.0M while operations used $579K of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ipower Inc cover its interest payments?
Ipower Inc (IPW) reported an operating loss of $5.9M against $427K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ipower Inc?
Ipower Inc (IPW) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.