iPower reports Q4 adjusted EPS 3c, consensus 1c

Reports Q4 revenue $19.45M, consensus $21.3M. “I’m proud of our team’s hard work in fiscal 2024 to drive record levels of gross margin, operating expense reductions and another year of positive cash flow from operations,” said Lawrence Tan, CEO of iPower. “Throughout the year, we delivered on multiple strategic initiatives to lay the foundation for future growth and profitability. We expanded channel distribution by launching sales on new platforms like TikTok Shop and Temu, both of which have seen promising early results. We’ve also strengthened the capabilities and resilience of our supply chain through partnerships with suppliers in South East Asia. We will remain focused on evaluating each aspect of our business to ensure we’re providing a best-in-class service to both our current and future customers.”