ISPR

MKT CAP:$76M

Ispire Technology Inc.

Market Cap

$76M

Consumer Defensive·Tobacco·🇺🇸 United States·NASDAQ

Consumer Def.·Tobacco·🇺🇸·NASDAQ

Stock Price

$1.74-$1.12 (-39.16%)

Apr 22, 2026

Company Details

Ispire Technology Inc. manufactures e-cigarettes and cannabis vaping products. The company was founded in 2019 and is based in Los Angeles, California. Ispire Technology Inc. operates as a subsidiary of Pride Worldwide Investment Limited

CEO

Tuanfang Liu

IPO Date

Apr 4, 2023

Website

www.getispire.com

Key Metrics TTM

Revenue

$125M

-8.7% YoY

Net Income

-$37M

EPS (Diluted)

-$0.65

Free Cash Flow

-$14M

Revenue / Share

$2.19

Gross Margin

20.3%

Operating Margin

-28.6%

Net Margin

-29.5%

FCF Margin

-11.5%

P/S

0.6x

P/E

—

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Sep 15, 2025

$127M-16.1%EPS -$0.69

Q4 2025

Sep 15, 2025

$20M-46.1%EPS -$0.26

Q3 2025

May 9, 2025

$26M-12.7%EPS -$0.19

Q2 2025

Feb 7, 2025

$42MEPS -$0.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$24M	$4M	$891.9K
Q2 22	$24M	$4M	$891.9K
Q3 22	$19M	$3M	-$895.7K
Q4 22	$22M	$3M	-$2M
Q1 23	$27M	$5M	-$1M
Q2 23	$32M	$5M	$309.8K
Q4 23	$33M	$6M	-$879.7K
Q1 24	$43M	$7M	-$878.2K
Q3 24	$30M	$6M	-$6M
Q4 24	$37M	$11M	-$3M
Q2 25	$42M	$8M	-$7M
Q3 25	$26M	$5M	-$11M
Q4 25	$20M	$2M	-$15M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	0.9x	—
Q1 23	0.8x	—
Q2 23	0.8x	—
Q4 23	0.7x	—
Q1 24	0.6x	—
Q3 24	0.6x	—
Q4 24	0.5x	—
Q2 25	0.5x	—
Q3 25	0.6x	—
Q4 25	0.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$4M	-$4M
Q2 22	-$4M	-$4M
Q3 22	-$16M	-$16M
Q4 22	$16M	$16M
Q1 23	$2M	$2M
Q2 23	$6M	$6M
Q4 23	-$11M	-$11M
Q1 24	-$13M	-$14M
Q3 24	$3M	$3M
Q4 24	-$1M	-$2M
Q2 25	-$3M	-$3M
Q3 25	-$12M	-$12M
Q4 25	$5M	$4M

Capital Expenditures

Quarter	CapEx
Q1 22	$23.7K
Q2 22	$23.7K
Q3 22	$73.6K
Q4 22	$568
Q1 23	$324.7K
Q2 23	$153.7K
Q4 23	$525.7K
Q1 24	$788.8K
Q3 24	$322.8K
Q4 24	$958.3K
Q2 25	$178.8K
Q3 25	$181.8K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+14.1%	+23.9%
Q2 23	+35.1%	+39.0%
Q4 23	+71.6%	+68.3%
Q1 24	+96.2%	+84.4%
Q3 24	+11.4%	+26.8%
Q4 24	+17.1%	+28.8%
Q2 25	+28.2%	+46.8%
Q3 25	-38.9%	-15.9%
Q4 25	-32.9%	-2.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$967.6K	2.3%
Q3 24	$2M	6.1%
Q4 24	$2M	4.5%
Q2 25	$1M	3.5%
Q3 25	$1M	5.6%
Q4 25	$692.5K	3.4%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	$2M	$1M	—
Q2 22	$2M	$1M	—
Q3 22	$3M	$1M	—
Q4 22	$3M	$2M	—
Q1 23	$5M	$2M	—
Q2 23	$4M	$906.4K	—
Q4 23	—	—	$7M
Q1 24	$7M	$1M	—
Q3 24	$10M	$2M	—
Q4 24	$11M	$2M	—
Q2 25	$13M	$2M	—
Q3 25	$14M	$2M	—
Q4 25	—	$2M	—

Revenue by Geography

Quarter	Africa	Asia Pacific	Europe	North America	South America
Q2 25	$3M	$4M	$24M	$11M	$636.4K
Q3 25	$118.0K	$3M	$13M	$9M	$1M
Q4 25	—	$2M	$15M	$3M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 23	$84M	$0	$84M
Q3 23	$24M	$10M	$34M
Q4 23	$40M	$9M	$49M
Q1 24	$26M	$9M	$35M
Q2 24	$18M	$9M	$27M
Q3 24	$39M	$0	$39M
Q4 24	$35M	$0	$35M
Q1 25	$38M	$0	$38M
Q2 25	$34M	$0	$34M
Q3 25	$24M	$0	$24M
Q4 25	$24M	$0	$24M
Q1 26	$23M	$0	$23M
Q2 26	$18M	$0	$18M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	50M	—	—
Q2 22	50M	0.0%	—
Q3 22	53M	+5.4%	—
Q4 22	53M	0.0%	—
Q1 23	53M	0.0%	+5.4%
Q2 23	53M	+0.8%	+6.2%
Q4 23	54M	+2.1%	+2.9%
Q1 24	54M	+0.1%	+3.0%
Q3 24	54M	+0.1%	+3.1%
Q4 24	56M	+3.9%	+6.3%
Q2 25	57M	+0.3%	+4.5%
Q3 25	57M	+0.6%	+5.0%
Q4 25	57M	+0.3%	+5.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q4 23	$472.9K	69
Q1 24	$621.2K	69
Q3 24	$435.0K	69
Q4 24	$381.1K	98
Q2 25	$426.8K	98
Q3 25	$267.3K	98
Q4 25	$248.6K	81

Revenue / Employee