Cannabis Vape Co. Ispire Grows Abroad As US Sales Decline Slows Q1 Revenue
Ispire Technology Inc. (NASDAQ: ISPR), a company with a focus on innovations in vaping technology and precision dosing, reported on Monday first quarter 2025 results for the period ended on Sept. 30, 2024. Revenue totaled $39.3 million, representing a decrease of 8.2% year-over-year to $42.9 million due to lower U.S. product sales (by $8.1 million year-over-year), partially offset by growth in Europe and other regions (notably South Africa).
Gross profit increased by 13.2% to $7.7 million from $6.8 million, with gross margin improving to 19.5% from 16%, driven by a shift toward higher-margin products. Net loss amounted to $5.6 million ($0.10 per share), compared to a net loss of $1.3 million ($0.02 per share) in the prior year's period.
