ISPR News & Events

Reports Q3 revenue $18.7M vs. $26.2M last year. Co-CEO Michael Wang commented, "This quarter reflects the successful stabilization of our business and with cash growing sequentially by $468K to $18M, we are now executing against a phased roadmap, with near-term revenue drivers already in production and transformative technology opportunities on the horizon: our Malaysia manufacturing is live today, giving us a 25% tariff advantage over China in a ~$73B global vape market; supply of nicotine pouches to global customers commenced in April 2026; vapor ODM launches in July 2026 for mid-sized brands, with large brand partnerships targeted for 2027. Looking further ahead (2027 and beyond): age-gating technology through IKE Tech has the potential to unlock the ~$50-70B US flavored vape market; G-Mesh glass technology is already drawing interest from big tobacco in a $24B+ legal global market. With cash generation this quarter and proprietary technologies in age-gating and G-Mesh that no competitor can replicate, we have multiple shots on goal across billion-dollar markets, and we believe Ispire is uniquely positioned to deliver outsized value for shareholders."

Ispire Technology highlighted the economic value and multi-billion-dollar market opportunity created for its shareholders by the U.S. Food and Drug Administration's, FDA, newly issued draft guidance outlining evidentiary expectations for Premarket Tobacco Product Applications for flavored electronic nicotine delivery systems. The FDA's guidance effectively unlocks a $50 billion total addressable market by providing a lawful pathway for flavored vapes, which currently consist largely of illicit products. Ispire's 40%-owned joint venture, IKE Tech, is positioned to capture this market. IKE's recurring SaaS revenue model is expected to generate $5 million to $20 million annually per customer. "We believe this guidance represents a major step toward a technology-enabled regulatory framework for the vapor category," said Michael Wang, Co-Chief Executive Officer of Ispire. "FDA's recognition of Device Access Restrictions validates our long-held position that continuous, device-level age verification can protect youth while preserving adult choice."

Sees Q2 revenue $20.3M vs. $41.8M last year. "This quarter represented an inflection point for Ispire during its yearlong cost cutting and customer quality rationalization efforts and we believe future quarters will see top line growth, consistent cash flows and bottom-line improvement. We are confident we have laid a solid foundation for future success," commented Michael Wang, Co-CEO of Ispire. "During the second quarter of fiscal 2026, we maintained our focus on prioritizing high-quality revenue, and reinforcing our disciplined and intentional approach to sustainable growth. This was particularly evident in our efforts to reduce net accounts receivable, which continues to have strong success. Over the second fiscal quarter we reduced net accounts receivable by 19.5% to $37.9M, compared to $47.0M at the end of FY25."

Ispire Technology announced that its Malaysian subsidiary, Ispire Malaysia Sdn Bhd, reaffirmed its strict compliance with all applicable Malaysian laws and regulations. This clarification follows recent media reports and public interest concerning the company's manufacturing activities in Malaysia. Ispire Malaysia confirms that all manufacturing activities at its facility in Johor are exclusively for export purposes and do not involve the production or distribution of any nicotine- or cannabis-containing liquids or gels within Malaysia and for export. "Ispire Malaysia operates under stringent procedures to ensure all manufacturing is 100% export-oriented," said Michael Wang, Co-CEO of Ispire Technology Inc. "We believe our operations fully comply with Malaysian law, and we are committed to transparency and regulatory cooperation at both federal and state levels."