Welcome to our dedicated page for Ipower news (Ticker: IPW), a resource for investors and traders seeking the latest updates and insights on Ipower stock.
iPower Inc (NASDAQ: IPW) is a leading online retailer specializing in hydroponic equipment and sustainable agriculture solutions. This dedicated news hub provides investors and industry followers with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely press releases and curated news covering quarterly earnings reports, supply chain expansions, and technology partnerships. Our repository simplifies tracking of IPW's progress in enhancing e-commerce platforms, optimizing logistics networks, and advancing hydroponic innovation.
Key updates include new product launches, market expansion announcements, and sustainability initiatives critical for assessing the company's position in controlled environment agriculture. Bookmark this page for direct access to official filings and analysis of operational milestones that shape IPW's growth trajectory.
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.
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