iPower Inc. SEC 10-Q Report

iPower Inc., a leading online retailer and supplier of hydroponic equipment and accessories, has released its Form 10-Q report for the third quarter of 2025. The report highlights significant financial and operational metrics, reflecting the company's performance and strategic initiatives during the period. Financial Highlights Total Revenues: $12.02 million, reflecting a decrease from the previous year's $19.01 million, primarily due to a decline in product sales.Gross Profit: $4.81 million, indicating a reduction from $8.49 million in the prior year, driven by lower revenues and increased cost of revenues.Loss from Operations: $(1.70) million, an improvement from the previous year's loss of $(2.75) million, due to reduced operating expenses.Net Loss: $(0.53) million, a significant improvement from the $(2.03) million loss in the previous year, aided by a decrease in interest expenses and other income.Losses Per Share - Basic and Diluted: $(0.51), compared to $(1.94) in the prior year, reflecting the overall improvement in net loss. Business Highlights Revenue Segments: During the three months ended September 30, 2025, sales of hydroponic products, including ventilation and grow light systems, accounted for approximately 9.0% of the Company's total sales, while the remaining 91.0% consisted of general gardening, home goods, and other products and accessories.Geographical Performance: For the three months ended September 30, 2025, sales through Amazon to Canada and other foreign countries represented approximately 5.1% of the Company’s total sales, indicating a focus on domestic markets.Customer Concentration: Amazon Vendor and Amazon Seller customers accounted for 70% of the Company's total revenues for the three months ended September 30, 2025, highlighting a significant reliance on these platforms for sales.New Joint Ventures: On June 3, 2025, the Company formed United Package NV, LLC, a joint venture focused on the domestic production of packaging materials to meet the growing demand for sustainable and cost-effective supply chain solutions in the U.S.Operational Adjustments: On October 15, 2025, the Company executed a Restructuring Agreement to modify its corporate structure, transferring ownership in E Marketing and United Package to GPM, aiming to streamline operations.Future Outlook: The Company is focused on expanding its logistics services through joint ventures like Box Harmony, LLC, and enhancing its social media marketing capabilities via Global Social Media, LLC, to support business growth.SEC Filing: iPower Inc. [ IPW ] - 10-Q - Nov. 14, 2025