Ispire Technology Inc.

Listed Company

ISPRCIK 0001948455NasdaqAcceleratedSmaller ReportingEmerging GrowthCigarettesFY ends Jun 30

Period

FY 2025

Revenue

$127.49M

Net Income

$-39.24M

Total Assets

$102.22M

Equity

$604.7K

Shares Out

57.29M

Op. Cash Flow

$-7.37M

Business

Ispire Technology Inc. is engaged in the research, development, design, commercialization, sales, marketing and distribution of branded and non‑branded vaping hardware products for nicotine and cannabis markets. Its main products include e‑cigarette systems (open and closed), cartridges, batteries, coils and tanks, and cannabis vaporizer hardware incorporating technologies such as DuCore™, BVC, BDC, Cleito, Ispire ONE™ and G‑Mesh. Key operating units include Aspire North America and Aspire Science, OEM/ODM manufacturing operations and the IKE age‑gating joint venture. The company sells globally through an extensive distributor network, direct ODM sales to cannabis brands, and regionally in Europe, Asia Pacific, North America and other international markets.

Summary from filing dated 2025-09-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30
Revenue	127	152	116	88
Cost of revenue	105	122	95	75
Gross profit	23	30	21	13
Sales and marketing expenses	8	7	4	6
Credit loss expenses	22	6	—	—
General and administrative expenses	30	31	21	9
Total operating expenses	60	44	25	14
Loss from operations	−38	−14	−4	−988,671
Interest income, net	86,996	365,251	—	—
Exchange loss, net	−86,570	−70,293	−324,225	58,143
Other (expense) income, net	−187,089	113,405	−155,150	185,615
Total other (expense) income, net	−186,663	408,363	−284,166	—
Loss before income taxes	−38	−13	−5	−803,056
Income taxes current	−1	−1	−1	—
Net loss	−39	−15	−6	−2
Foreign currency translation adjustments	−167,214	222,111	20,896	−117,085
Comprehensive loss	−39	−15	−6	−2
Basic (in Dollars per share)	−0.69	−0.27	−0.12	−0.04
Diluted (in Dollars per share)	−0.69	−0.27	−0.12	−0.04
Basic (in Shares)	57	55	51	50
Diluted (in Shares)	57	55	51	50

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2024 2024-03-31	FY 2023 2023-12-31	FY 2023 2023-09-30
Cash	24	35	—	—	—
Accounts receivable, net	40	60	—	—	—
Inventories, net	7	6	—	—	—
Prepaid expenses and other current assets	2	1	—	—	—
Total current assets	73	103	—	—	—
Accounts receivable non current	7	—	—	—	—
Property, plant and equipment, net	3	3	—	—	—
Intangible assets, net	2	1	—	—	—
Right-of-use assets operating leases	5	4	4	4	5
Other investment	2	2	—	—	—
Equity method investment	10	10	—	—	—
Other non-current assets	210,617	284,050	297,474	299,261	170,562
Total other assets	29	20	9	7	7
Total assets	102	123	108	90	88
Accounts payable	4	4	—	—	—
Contract liabilities	5	2	—	—	—
Accrued liabilities and other payables	8	12	—	—	—
Borrowing current portion	1	—	—	—	—
Operating lease liabilities current portion	2	1	1	1	1
Total current liabilities	73	86	70	58	54
Borrowing net of current portion	805,361	—	—	—	—
Operating lease liabilities net of current portion	3	2	—	—	—
Total liabilities	102	88	72	61	57
Commitments and contingencies	—	—	—	—	—
Common stock, par value $0.0001 per share; 140,000,000 shares authorized; 57,193,734 and 56,470,636 shares issued and outstanding as of June 30, 2025 and June 30, 2024	5,719	5,647	—	—	—
Treasury stock, at cost	−60,488	—	—	—	—
Additional paid-in capital	49	43	—	—	—
Accumulated deficit	−48	−9	−5	609,283	5
Accumulated other comprehensive (loss)/income	−108,871	58,343	—	—	—
Total stockholders equity	604,694	34	36	29	31
Total liabilities and stockholders equity	102	123	108	90	88

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30
Depreciation and amortization	812,483	505,653	46,662	—
Right-of-use assets amortization	1	1	1	—
Stock-based compensation expenses	6	6	—	—
Inventory impairment	754,976	205,594	—	—
Loss from equity method investment	732,502	117,905	—	—
Right-of-use assets impairment	151,516	—	1	135,141
Debt issuance cost amortization	38,478	—	—	—
Accounts receivable	−9	−41	−20	−4
Inventories	−1	901,120	7	−12
Prepaid expenses and other current assets	−547,085	2	−3	29,007
Accounts payable and accounts payable related party	11	18	11	9
Contract liabilities	3	1	−690,637	—
Accrued liabilities and other payables	−555,383	2	168,179	—
Operating lease liabilities	−1	−1	−1	—
Prepaid income tax/income tax payable	−315,189	−63,853	−417,260	481,113
Net cash used in operating activities	−7	−18	−8	−8
Purchase of property, plant and equipment	−1	−2	−1	−121,516
Acquisition of intangible assets	−939,075	−1	—	—
Maturity of short term investment	—	9	—	—
Acquisition of other investment	—	−2	—	—
Acquisition of equity method investment	—	−1	—	—
Repayment of acquisition payable	−3	—	—	—
Net cash (used in) provided by investing activities	−5	3	−10	−121,516
Common stock repurchased	−60,488	—	—	—
Proceeds from equity offerings	—	12	—	—
Issuance costs of equity offerings	—	−2	—	—
Proceeds from borrowing	2	—	—	—
Repayment of borrowing	−167,214	—	—	—
Repayments of advances from a related party	—	−703,323	−38	−2
Net cash provided by financing activities	2	10	−16	−3
Net decrease in cash	−11	−5	−34	—
Leased assets obtained in exchange for operating lease liabilities	3	537,307	—	—
Reclassification of accounts receivable to accounts receivable non current	7	—	—	—
Reclassification of accounts payable related party to amount due to a related party	25	—	—	—
Unpaid equity method investment in accrued liabilities and other payables	—	9	—	—
Warrants issued in connection with equity method investment	—	365,953	—	—
Unpaid intangible assets in accrued liabilities and other payables	—	232,382	—	—
Cash paid for income taxes	2	1	—	—
Cash paid for interest	150,285	15,229	587	—

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