iPower Inc. reports Q1 revenue of $12 million and net loss of $0.5 million
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iPower Inc. reported Q1 revenue of $12 million, down from $19 million last year. Services income more than doubled to $1.5 million. Gross profit was $4.8 million with a 40% margin. Net loss improved to $0.5 million from $2.1 million. Operating expenses decreased by 42% to $6.5 million. Cash and cash equivalents were $0.9 million, and total debt reduced by 48% to $1.9 million. Improvements attributed to cost optimization and increased services income.
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