Nasdaq-Listed Vaping Company Ispire Reports 31% YoY Increase In 2024 Revenue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 26 2024
0mins
Source: Benzinga
Fiscal Year 2024 Financial Performance: Ispire Technology Inc reported a 31.4% increase in revenue to $151.9 million and a gross profit rise of 43.3% to $29.8 million, despite a net loss of $14.8 million for the fiscal year ending June 30, 2024.
Strategic Partnerships and Future Plans: The company is focusing on high-quality multi-state operator customers for its cannabis vaping hardware and has established partnerships with Acreage Holdings and other brands, while also working on innovative age-verification solutions for vapor devices.
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Analyst Views on ISPR
Wall Street analysts forecast ISPR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ISPR is 6.50 USD with a low forecast of 6.50 USD and a high forecast of 6.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.460
Low
6.50
Averages
6.50
High
6.50
Current: 3.460
Low
6.50
Averages
6.50
High
6.50
About ISPR
Ispire Technology Inc. is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded and non-branded e-cigarettes and vaping hardware products in both the nicotine and cannabis spaces. The Company’s nicotine products are marketed under the Aspire brand name, primarily through a global distribution network. It sells its cannabis vaping hardware in the United States, Canada, South Africa, and Germany. Its cannabis products are marketed under the Ispire brand name, primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies, including multi- and single-state operators, brand owners, and co-packers. Its product portfolio includes E-Cigarette Products and Cannabis Products. The Company's open system devices are marketed under brands such as Nautilus and Zestquest and closed system products are marketed under licensed brands including BRKFST and Hidden Hills Club.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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