iPower Reports Fiscal Third Quarter 2026 Results Highlighted by Lower Operating Cost Structure, Narrowed Non-GAAP Loss and Advancing AI Infrastructure Strategy

Rhea-AI Summary

iPower (Nasdaq: IPW) reported fiscal Q3 2026 results reflecting its strategic shift to a leaner, asset-light model. Revenue from continuing operations was $3.5 million, with gross profit of $0.8 million and gross margin of 21.6%.

Operating expenses fell to $1.9 million, down 66% sequentially. GAAP net loss was $(3.5) million, mainly due to a $3.0 million non-cash goodwill impairment. Non-GAAP net loss narrowed to $(0.3) million. iPower ended the quarter with a current ratio of about 2.2x and later secured over $2.6 million in contracted sublease income and launched an AI infrastructure investment strategy using its $30 million financing facility.

Positive

• Operating expenses reduced to $1.9 million, down 66% sequentially
• Non-GAAP net loss narrowed to $(0.3) million from $(0.7) million year over year
• Current liabilities decreased 54% to $6.6 million since June 30, 2025
• Current ratio improved to approximately 2.2x with $14.5 million current assets
• Sublease expected to generate over $2.6 million non-dilutive income through May 2028
• Inventory reduced to $2.5 million from $8.1 million, reflecting leaner operations

Negative

• GAAP net loss attributable to iPower was $(3.5) million for fiscal Q3 2026
• Results included a $3.0 million non-cash goodwill impairment charge
• Company remained loss-making on a non-GAAP basis with $(0.3) million net loss

News Market Reaction – IPW

-13.09%

26 alerts

-13.09% Session close to close

-39.5% Trough in 24 hr 7 min

$1.05M Market Cap

0.1x Rel. Volume

In the May 21 session, IPW declined 13.09%, reflecting a significant negative market reaction. Argus tracked a trough of -39.5% from its starting point during tracking. Our momentum scanner triggered 26 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -13.1% in the session following this news. A negative reaction despite signs of op...

Analysis

The stock dropped -13.1% in the session following this news. A negative reaction despite signs of operating progress would fit a pattern where AI-linked earnings updates have not always been rewarded, with prior tagged events averaging about -1.2%. While iPower cut operating expenses to $1.9 million and narrowed non-GAAP loss to $(0.3) million, the headline GAAP loss of $(3.5) million and reliance on a $30 million financing facility could raise concerns. Sustainability of AI infrastructure returns and execution of the asset-light strategy remain key watch points.

Key Figures

Revenue: $3.5 million Gross margin: 21.6% Operating expenses: $1.9 million +5 more

8 metrics

Revenue $3.5 million Fiscal Q3 2026 revenue from continuing operations

Gross margin 21.6% Fiscal Q3 2026 gross margin on $0.8 million gross profit

Operating expenses $1.9 million Fiscal Q3 2026; down from $5.6M in fiscal Q2 2026

GAAP net loss $(3.5) million Fiscal Q3 2026; includes $3.0M non-cash goodwill impairment

Non-GAAP net loss $(0.3) million Fiscal Q3 2026; improved from $(0.7)M in prior-year quarter

Current assets $14.5 million As of March 31, 2026; supports current ratio of ~2.2x

Current liabilities $6.6 million As of March 31, 2026; down 54% from June 30, 2025

Sublease income >$2.6 million Contracted non-dilutive income through May 2028 from Rancho Cucamonga sublease

Previous Earnings,AI Reports

1 past event · Latest: Sep 26 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Sep 26	Earnings and AI	Positive	-1.2%	AI-driven revenue surged 558.6% to $24M with stronger capital reserves.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

The only tag-matched earnings/AI event showed a modest share-price decline despite very strong AI-driven growth metrics, hinting that positive AI earnings narratives have not reliably produced upside.

Recent Company History

Tag-matched history consists of a single earnings/AI release from Sep 26, 2024, when Datasea reported revenue of $24.0 million (up 558.6%) and capital reserves of $39.0 million, with noncurrent liabilities falling to zero. Despite these clearly positive fundamentals and AI-related growth, the stock moved about -1.2% over the next day. This backdrop suggests that even strong AI-linked earnings stories have not always translated into strong immediate price appreciation.

Key Terms

non-GAAP, goodwill impairment, current ratio, sublease, +3 more

7 terms

non-GAAP financial

"non-GAAP net loss narrowed to $0.3 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

goodwill impairment financial

"driven by a $3.0 million non-cash goodwill impairment"

Goodwill impairment occurs when a company’s valued reputation or brand strength, known as goodwill, is found to be worth less than previously recorded on its financial statements. This usually happens when the company's performance declines or market conditions change, signaling that the expected benefits from acquisitions or brand value are no longer as strong. It matters to investors because it can indicate that a company's assets are less valuable than initially thought, potentially affecting its overall financial health.

current ratio financial

"resulting in a current ratio of approximately 2.2x"

The current ratio measures a company’s short-term ability to pay upcoming bills by comparing assets that can be turned into cash within a year (like cash, inventory, and receivables) to obligations due within the same period. Investors use it like a household budget check — a ratio above 1 suggests the company has more short-term resources than immediate debts, while a very low or very high ratio can signal liquidity risk or inefficient use of assets.

View in glossary

sublease financial

"entered into a sublease agreement for a portion of its Rancho Cucamonga facility"

A sublease is when an existing tenant lets another party use all or part of the space or asset they lease, while the original tenant keeps their contract obligations to the owner. For investors, subleasing can change a company’s cash flow and risk profile—acting like a tenant lending a rented item to a friend: it can bring extra income and reduce vacancy but also add legal and operational responsibility that may affect valuation and future costs.

AI infrastructure technical

"recently launched AI infrastructure strategy"

AI infrastructure consists of the hardware, software, and systems needed to develop, run, and support artificial intelligence applications. Think of it as the foundation and tools that enable AI to process large amounts of data quickly and accurately, similar to how a strong foundation supports a building. For investors, AI infrastructure is important because it underpins advancements in technology that can drive new business opportunities and competitive advantages.

yield-bearing instrument financial

"to purchase sUSDai, a yield-bearing instrument backed by GPU-collateralized loans"

A yield-bearing instrument is any financial asset that regularly pays the holder income, such as interest or dividends, rather than only hoping to gain in price. Think of it like a tree that produces fruit each season: investors value these instruments for predictable cash flow, which can be used for income, reinvestment, or to compare expected return versus risk when choosing where to put money.

GPU-collateralized loans financial

"sUSDai, a yield-bearing instrument backed by GPU-collateralized loans"

Loans secured by high-value graphics processing units (GPUs) where the lender accepts the physical hardware as collateral and can seize or sell the units if the borrower defaults. This matters to investors because the loan’s safety depends on how easy it is to value and resell the GPUs—like a pawnshop loan on specialized equipment—so changes in demand, rapid technology obsolescence, theft risk, or volatile markets for AI and mining hardware can affect recovery and loss rates.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Operating expenses declined 66% sequentially

GAAP net loss primarily reflected non-cash goodwill impairment; non-GAAP net loss narrowed to $0.3 million

Company strengthens platform through asset-light operations, contracted sublease income and recently launched AI infrastructure strategy

RANCHO CUCAMONGA, Calif., May 20, 2026 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a technology- and data-driven company operating at the intersection of supply chain, infrastructure and digital assets, today reported financial results for its fiscal third quarter ended March 31, 2026.

Fiscal third quarter results reflected continued progress in iPower’s strategic operating reset following the divestiture of Global Product Marketing Inc. and the Company’s transition toward a leaner, more asset-light operating model.

For the fiscal third quarter of 2026, revenue from continuing operations was $3.5 million, gross profit was $0.8 million, and gross margin was 21.6%. Total operating expenses declined to $1.9 million, compared with $5.6 million in the fiscal second quarter of 2026 and $7.2 million in the prior-year quarter.

GAAP net loss attributable to iPower was $(3.5) million, or $(2.38) per basic share for the quarter. The GAAP net loss was primarily driven by a $3.0 million non-cash goodwill impairment, which fully eliminated the Company’s remaining goodwill balance. The impairment did not impact the Company’s cash position or operating cash flows. Excluding this impairment and other non-cash or non-operating items, non-GAAP net loss attributable to iPower was $(0.3) million, or $(0.18) per share, compared with non-GAAP net loss of $(0.7) million, or $(0.70) per share, in the prior-year quarter.

“Fiscal Q3 demonstrates that our operating reset is taking hold,” said Lawrence Tan, Chief Executive Officer of iPower. “We significantly reduced our operating cost structure, improved working-capital discipline, and narrowed our non-GAAP loss, despite a smaller revenue base during this transition period. Importantly, the goodwill impairment recorded in the quarter was non-cash and cleared the remaining goodwill from our balance sheet.”

Tan continued, “We are building iPower into a more efficient and financially flexible platform. Our strategy is focused on lower fixed costs, higher-quality revenue opportunities, and disciplined capital allocation into areas where we see long-term value creation. Following quarter end, we strengthened this strategy through contracted sublease income and the launch of our AI infrastructure strategy, which is intended to position iPower as a capital provider for GPU clusters and AI infrastructure assets.”

As of March 31, 2026, iPower had $14.5 million of current assets and $6.6 million of current liabilities, resulting in a current ratio of approximately 2.2x. Current liabilities decreased approximately 54% from $14.5 million at June 30, 2025. Accounts payable declined to $3.0 million from $7.2 million at June 30, 2025, while inventory declined to $2.5 million from $8.1 million, reflecting the Company’s leaner operating model.

Subsequent to quarter end, iPower entered into a sublease agreement for a portion of its Rancho Cucamonga facility, expected to generate more than $2.6 million of contracted, non-dilutive income through May 2028. The Company also launched its AI infrastructure strategy, initially utilizing a portion of its existing $30 million financing facility to pursue investments across the AI infrastructure stack, including an initial commitment of up to $3 million to purchase sUSDai, a yield-bearing instrument backed by GPU-collateralized loans. The Company believes these initiatives enhance financial flexibility and support its transition toward a more scalable platform.

Fiscal Third Quarter 2026 Highlights

Metric	Fiscal Q3 2026	Key Context
Revenue	$3.5 million	Reflects transition to leaner model
Gross profit	$0.8 million	Gross margin of 21.6%
Operating expenses	$1.9 million	Down 66% sequentially
GAAP net loss attributable to iPower	$(3.5) million	Includes $3.0 million non-cash goodwill impairment
Non-GAAP net loss attributable to iPower	$(0.3) million	Improved from $(0.7) million in prior-year quarter
Current assets	$14.5 million	Current ratio of approximately 2.2x
Current liabilities	$6.6 million	Down 54% from June 30, 2025

About iPower Inc.

iPower Inc. (Nasdaq: IPW) is a technology- and data-driven company executing a focused strategy at the intersection of AI infrastructure, digital assets and real-world commerce. The Company’s platform includes established e-commerce supply chain operations, logistics and software-enabled services, as well as a growing AI infrastructure investment strategy designed to support long-term stockholder value creation.

Non-GAAP Financial Measures

Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of the Company’s financial performance. This press release includes non-GAAP net loss attributable to iPower and non-GAAP loss per share. The Company uses these measures to evaluate operating performance by excluding certain non-cash, non-recurring or non-operating items, including stock-based compensation, debt-related non-cash financing costs, change in fair value of derivative liability, unrealized loss on digital assets, loss on extinguishment of debt, goodwill impairment and related tax adjustments. These measures should not be considered a substitute for GAAP results. A reconciliation to the most directly comparable GAAP measure is included in the financial tables accompanying this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Certain statements made herein that use words such as “estimate,” “project,” “intend,” “expect,” “believe,” “may,” “might,” “potential,” “anticipate,” “plan” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include statements regarding iPower’s operating strategy, cost structure, liquidity, balance sheet flexibility, anticipated sublease income, AI infrastructure strategy, digital asset strategy and future growth opportunities. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Additional risks are described in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. iPower undertakes no obligation to update forward-looking statements except as required by law.

Media & Investor Contact

IPW.IR@meetipower.com

iPower Inc. and Subsidiaries
Consolidated Balance Sheets
As of March 31, 2026 and June 30, 2025
					March 31,				June 30,
					2026				2025
ASSETS
Current assets
	Cash and cash equivalent				$	713,685			$	1,677,879
	Accounts receivable, net					7,064,189				6,124,008
	Inventories, net					2,536,961				8,131,203
	Restricted Cash - BitGo					2,209,000				-
	Prepayments and other current assets, net					1,973,215				2,567,706
	Current assets held for sale					-				873,515
			Total current assets			14,497,050				19,374,311
Non-current assets
	Right of use - non-current					2,966,202				3,915,539
	Property and equipment, net					166,441				390,349
	Deferred tax assets, net					4,990,836				3,724,462
	Goodwill					-				3,034,110
	Investment in joint venture					13,264				385,180
	Note Receivable					2,300,000				-
	Intangible assets, net					2,494,300				2,981,328
	Digital assets					1,664,827				-
	Other non-current assets					2,213,668				1,837,488
			Total non-current assets			16,809,538				16,268,456
			Total assets		$	31,306,588			$	35,642,767
LIABILITIES AND EQUITY
Current liabilities
	Accounts payable, net					3,016,663				7,180,009
	Other payables and accrued liabilities					2,136,690				1,769,421
	Lease liability - current					1,450,340				1,361,111
	Revolving loan payable, net					-				3,737,602
	Income taxes payable					-				183,195
	Current liabilities held for sale					-				221,460
			Total current liabilities			6,603,693				14,452,798
Non-current liabilities
	Convertible notes payable					4,470,518				-
	Derivative liability - Conversion option					1,264,600				-
	Lease liability - non-current					1,817,153				2,913,967
			Total non-current liabilities			7,552,271				2,913,967
			Total liabilities			14,155,964				17,366,765
Commitments and contingency						-				-
Stockholders' Equity
	Preferred stock, $0.001 par value; 20,000,000 shares authorized; 0 shares issued and
		outstanding at March 31, 2026 and June 30, 2025				-				-
	Common stock, $0.001 par value; 180,000,000 shares authorized; 1,773,999 and
		1,045,330 shares issued and outstanding at March 31, 2026 and June 30, 2025				1,774				1,045
	Additional paid in capital					37,528,080				33,481,201
	Accumulated deficits					(20,380,696	)			(15,198,889	)
	Non-controlling interest					(47,462	)			(47,462	)
	Accumulated other comprehensive loss					48,928				40,107
			Total stockholders' equity			17,150,624				18,276,002
			Total liabilities and stockholders' equity		$	31,306,588			$	35,642,767

iPower Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Loss
For the Three and Nine Months Ended March 31, 2026 and 2025
				For the Three Months Ended March 31,								For the Nine Months Ended March 31,
				2026				2025				2026				2025
				(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
REVENUES
	Product sales			$	3,498,681			$	15,018,227			$	16,990,959			$	49,422,823
	Service income				-				1,023,445				1,532,722				3,222,236
		Total revenues			3,498,681				16,041,672				18,523,681				52,645,059
COST OF REVENUES
	Product costs				2,743,132				8,306,217				10,353,516				27,043,417
	Service costs				-				879,995				1,332,681				2,704,737
		Total cost of revenues			2,743,132				9,186,212				11,686,197				29,748,154
GROSS PROFIT					755,549				6,855,460				6,837,484				22,896,905
OPERATING EXPENSES:
	Selling and fulfillment				991,037				5,373,932				7,348,039				15,687,013
	General and administrative				908,773				1,816,032				4,630,041				10,033,958
		Total operating expenses			1,899,810				7,189,964				11,978,080				25,720,971
LOSS FROM OPERATIONS					(1,144,261	)			(334,504	)			(5,140,596	)			(2,824,066	)
OTHER INCOME (EXPENSE)
	Interest expenses				(432,167	)			(81,968	)			(611,108	)			(362,602	)
	Loss on equity method investment				-				(986	)			-				(2,707	)
	Loss on deconsolidation of VIE				(1,269	)			-				(40,893	)			-
	Impairment loss -goodwill				(3,034,110	)			-				(3,034,110	)			-
	Unrealized gain (loss) on digital assets				(549,932	)			-				(544,173	)			-
	Change in fair value of derivative liability				89,600				-				266,200				-
	Gain (Loss) on extinguishment of debt				(539,634	)			-				(563,734	)			-
	Other non-operating income (expenses)				3,897				35,241				1,236,219				47,521
		Total other income (expenses), net			(4,463,615	)			(47,713	)			(3,291,599	)			(317,788	)
LOSS BEFORE INCOME TAXES					(5,607,876	)			(382,217	)			(8,432,195	)			(3,141,854	)
PROVISION FOR INCOME TAX EXPENSE (BENEFIT)					(326,502	)			6,364				(1,839,874	)			(637,108	)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS					(5,281,374	)			(388,581	)			(6,592,321	)			(2,504,746	)
DISCONTINUED OPERATIONS, NET OF TAX					1,826,496				46,208				1,410,514				345,920
NET LOSS					(3,454,878	)			(342,373	)			(5,181,807	)			(2,158,826	)
	Non-controlling interest				-				(2,774	)			-				(8,765	)
NET LOSS ATTRIBUTABLE TO IPOWER INC.				$	(3,454,878	)		$	(339,599	)		$	(5,181,807	)		$	(2,150,061	)
OTHER COMPREHENSIVE INCOME (LOSS)
	Foreign currency translation adjustments				(15,743	)			(97,556	)			8,821				3,520
COMPREHENSIVE LOSS ATTRIBUTABLE TO IPOWER INC.				$	(3,470,621	)		$	(437,155	)		$	(5,172,986	)		$	(2,146,541	)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK
	Basic				1,453,875				1,048,508				1,200,110				1,047,816
	Diluted				1,453,875				1,048,508				1,200,110				1,047,816
EARNINGS (LOSSES) PER SHARE
	Basic - continuing operations			$	(3.63	)		$	(0.37	)		$	(5.49	)		$	(2.39	)
	Basic - discontinued operations				1.25				0.04				1.17				0.33
		Total basic earnings (loss) per share		$	(2.38	)		$	(0.33	)		$	(4.32	)		$	(2.06	)
	Diluted - continuing operations			$	(3.63	)		$	(0.37	)		$	(5.49	)		$	(2.39	)
	Diluted - discontinued operations				1.26				0.04				1.18				0.33
		Total diluted earnings (loss) per share		$	(2.38	)		$	(0.33	)		$	(4.32	)		$	(2.06	)

iPower Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Measures
				For the Three Months Ended March 31,								For the Nine Months Ended March 31,
				2026				2025				2026				2025
				(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
GAAP OPERATING EXPENSES				$	1,899,810			$	7,189,964			$	11,978,080			$	25,720,971
Stock-based compensation					(150,203	)			546,053.00				(1,450,608	)			142,780
NON-GAAP OPERATING EXPENSES				$	1,749,607			$	7,189,964			$	11,978,080			$	25,720,971
GAAP LOSS FROM OPERATIONS				$	(1,144,261	)		$	(334,504	)		$	(5,140,596	)		$	(2,824,066	)
Stock-based compensation					150,203				(546,053	)			1,450,608				142,780
NON-GAAP LOSS FROM OPERATIONS				$	(994,058	)		$	(880,557	)		$	(3,689,988	)		$	(2,681,286	)
GAAP OTHER INCOME (EXPENSE)				$	(4,463,615	)		$	(47,713	)		$	(3,291,599	)		$	(317,788	)
Amortization of debt discount and non-cash financing costs					247,551				-				269,782				125,906
Loss on extinguishment of debt					539,634				-				563,734				-
change in fair value of derivative liability					(89,600	)			-				(266,200	)			-
Unrealized gain (loss) on digital assets					549,932				-				544,173				-
Impairment loss - goodwill					3,034,110				-				3,034,110				-
NON-GAAP OTHER INCOME (EXPENSE)				$	(181,988	)		$	(47,713	)		$	854,000			$	(191,882	)
GAAP NET LOSS ATTRIBUTABLE TO IPOWER INC.				$	(3,454,878	)		$	(339,599	)		$	(5,181,807	)		$	(2,150,061	)
Stock-based compensation					150,203				(546,053	)			1,450,608				142,780
Amortization of debt discount and non-cash financing costs					247,551				-				269,782				125,906
Loss on extinguishment of debt					539,634				-				563,734				-
change in fair value of derivative liability					(89,600	)			-				(266,200	)			-
Unrealized gain (loss) on digital assets					549,932				-				544,173				-
Impairment loss - goodwill					3,034,110				-				3,034,110				-
Tax adjustment					(1,240,186	)			152,805				(1,566,020	)			(75,188	)
NON-GAAP NET LOSS ATTRIBUTABLE TO IPOWER INC.				$	(263,234	)		$	(732,847	)		$	(1,151,620	)		$	(1,956,563	)
GAAP EARNINGS (LOSSES) PER SHARE
Basic and diluted				$	(2.38	)		$	(0.33	)		$	(4.32	)		$	(2.06	)
Impact of Non-GAAP adjustments					2.20				(0.37	)			3.36				0.19
NON-GAAP LOSSES PER SHARE				$	(0.18	)		$	(0.70	)		$	(0.96	)		$	(1.87	)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK
	Basic and diluted - GAAP and NON-GAAP				1,453,875				1,048,508				1,200,110				1,047,816

FAQ

What were iPower (NASDAQ: IPW) fiscal third quarter 2026 revenues and margins?

iPower reported fiscal Q3 2026 revenue from continuing operations of $3.5 million and gross profit of $0.8 million. According to iPower, this equates to a 21.6% gross margin as the company continues its transition to a leaner, asset-light operating model.

How much did iPower reduce operating expenses in fiscal Q3 2026?

iPower cut operating expenses to $1.9 million in fiscal Q3 2026, a 66% sequential decline. According to iPower, this reduction supports its operating reset and shift toward a leaner cost structure following the divestiture of Global Product Marketing and related strategic changes.

What was iPower’s GAAP and non-GAAP net loss in fiscal Q3 2026?

iPower posted a GAAP net loss of $(3.5) million and a non-GAAP net loss of $(0.3) million in fiscal Q3 2026. According to iPower, GAAP results include a $3.0 million non-cash goodwill impairment that eliminated remaining goodwill.

How strong was iPower’s balance sheet and liquidity at March 31, 2026?

At March 31, 2026, iPower held $14.5 million in current assets and $6.6 million in current liabilities, for a current ratio of about 2.2x. According to iPower, current liabilities fell 54% from June 30, 2025, aided by lower payables and inventory.

What does iPower’s new sublease mean for IPW shareholders?

iPower entered a sublease for part of its Rancho Cucamonga facility, expected to generate over $2.6 million non-dilutive income through May 2028. According to iPower, this contracted income enhances financial flexibility and supports its asset-light platform strategy without issuing additional equity.

What is iPower’s AI infrastructure strategy announced after fiscal Q3 2026?

iPower launched an AI infrastructure strategy using part of its existing $30 million financing facility to invest across the AI infrastructure stack. According to iPower, the initial commitment is up to $3 million to purchase sUSDai, a yield-bearing instrument backed by GPU-collateralized loans.

How is iPower’s transition to an asset-light model reflected in its Q3 2026 results?

iPower’s Q3 2026 results show lower operating expenses, reduced inventory, and improved working-capital metrics. According to iPower, the shift follows its operating reset and divestiture of Global Product Marketing, aiming for lower fixed costs and higher-quality revenue opportunities over time.