Ipower Inc Stock Price, News & Analysis

iPower (Nasdaq: IPW) has announced the integration of Amazon Logistics Services into its SuperSuite platform. This move aims to enhance last-mile delivery capabilities for its home, pet, and garden product partners. Key benefits include competitive rates, fast and efficient delivery, and reliable service leveraging Amazon's extensive logistics network. CEO Lawrence Tan emphasized that this integration elevates iPower's value proposition, making delivery services faster, more reliable, and cost-effective. The company remains committed to enhancing its overall supply chain solutions.

iPower, a tech and data-driven online retailer specializing in consumer home, pet, and garden products, announced that its CFO, Kevin Vassily, will present at the Water Tower Research's Inaugural Consumer Products Virtual Investor Conference on June 6, 2024, at 1:00 p.m. ET. This event, set to take place over two days, will feature presentations from various branded consumer products companies. The conference is complimentary for investors and will be hosted by industry experts Doug Lane and Budd Bugatch.

iPower (Nasdaq: IPW) has announced a strategic partnership with logistics company Western Post. This collaboration aims to integrate Western Post's fulfillment network and tracking systems into iPower's SuperSuite supply chain business. The move is expected to enhance operational efficiencies and technological capabilities for iPower while providing Western Post's clients with access to iPower's sales channels, boosting growth and market presence in the U.S. The partnership is seen as a step towards diversifying iPower's offerings in both online and offline retail channels. Both companies anticipate unlocking synergies and operational efficiencies through this collaboration.

iPower (Nasdaq: IPW) celebrates the first anniversary of its SuperSuite supply chain business, which has quickly become a critical partner for product companies seeking to expand their omnichannel presence. SuperSuite now accounts for 10% of iPower's revenue and has contributed to the company's return to profitability in Q3 2024. SuperSuite offers comprehensive solutions, including access to major U.S. online channels and offline big-box retailers, fulfillment services, and data-driven insights. Key partners like Sansui and Kuka Home have seen significant sales growth and operational efficiencies by leveraging SuperSuite's capabilities.

iPower (Nasdaq: IPW) released its fiscal Q3 2024 results, showing a 15% revenue increase to $23.3 million, driven by the growth of its SuperSuite business and higher product sales to its largest channel partner.

Gross profit rose 41% to $10.9 million with a gross margin of 47%, up from 38.5% in the previous year. Operating expenses decreased to $9.3 million, improving to 40.1% of revenue.

Net income improved to $1.0 million or $0.03 per share, compared to a net loss of $1.5 million in the previous year. Adjusted net income was $1.6 million or $0.05 per share.

iPower reduced its net debt by 59% to $3.3 million. The company has shifted focus from hydroponics to core consumer products, enhancing profitability and growth.

Datasea Inc. (NASDAQ: DTSS) pre-announced estimated revenue of $12.5 million for April 2024, supporting its revenue guidance of $86 million for fiscal 2024, reflecting a 1,128% year-over-year increase. The Company serves over 48 million enterprises and users in China with 5G-AI multimodal communication technology, leading to a strong revenue projection. Datasea's core products include acoustic solutions for clean environments and ultrasonic sleep aids, with plans to expand its market reach in the US.

iPower Inc. (Nasdaq: IPW) has scheduled a conference call on May 14, 2024, at 4:30 p.m. ET to discuss its financial results for the fiscal third quarter ended March 31, 2024. The call will be hosted by iPower management and will include a question-and-answer period.