11/14/2025 - 09:20 AM

2025年11月14日- 上午 09:20

RANCHO CUCAMONGA, Calif., Nov. 14, 2025 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a data and technology driven e-commerce retailer and infrastructure company, today announced its financial results for the fiscal first quarter ended September 30, 2025.

加利福尼亚州兰乔库卡蒙加，2025年11月14日（GLOBE NEWSWIRE）-- iPower Inc.（纳斯达克：IPW）（“iPower” 或 “公司”），一家以数据和技术驱动的电子商务零售商及基础设施公司，今天公布了截至2025年9月30日的财年第一季度财务业绩。

Fiscal Q1 2026 Results vs. Year-Ago Quarter

2026 财年第一季度业绩与去年同期比较

Total revenue was $12.0 million compared to $19.0 million, with services income up more than 2x to $1.5 million.
Gross profit was $4.8 million compared to $8.5 million, with gross margin of 40.0% compared to 44.7%.
Net loss attributable to iPower improved to $0.5 million or $(0.51) per share, compared to net loss attributable to iPower of $2.1 million or $(1.94) per share.
As of September 30, 2025, total debt was reduced by 48% to $1.9 million as compared to $3.7 million as of June 30, 2025.

总收入为 1200 万美元，较去年的 1900 万美元下降，服务收入增长超过 2 倍，达到 150 万美元。
毛利润为 480 万美元，较 850 万美元下降，毛利率为 40.0%，较去年同期的 44.7% 下降。
归属于 iPower 的净亏损改善至 50 万美元，或每股$(0.51)，相比之下，去年同期归属于 iPower 的净亏损为 210 万美元，或每股$(1.94)。
截至2025年9月30日，总债务减少 48%，降至 190 万美元，而2025年6月30日为 370 万美元。

Management Commentary

管理层评论

“Fiscal 2026 is off to a solid start as we are beginning to see the benefits of the strategic optimization initiatives we implemented last year,” said Lawrence Tan, CEO of iPower. “Our disciplined approach to cost management, including targeted reductions in operating expenses, contributed to a meaningful improvement in our bottom line for the quarter. These efficiencies, combined with our material reduction in debt obligations, underscore the progress we are making in strengthening the fundamentals of our business.”

“2026 财年开局良好，我们开始看到去年实施的战略优化举措的成效，” iPower 首席执行官 Lawrence Tan 表示。“我们对成本管理的严格控制，包括针对性减少运营费用，为本季度的底线带来了显著改善。这些效率，加上我们在债务义务上的大幅减少，突显了我们在加强业务基本面方面所取得的进展。”

“We are also seeing tangible benefits from our transition toward a more diversified and domestically anchored supply chain. The shift away from a China import–centric model has enhanced our logistical control, reduced exposure to tariff-related volatility, and improved our ability to respond quickly to customer demand. Additionally, our U.S. joint-venture manufacturing line continues to scale, supporting margin stability and providing a platform for long-term operational resilience.”

“我们还看到向更为多元化和以国内为主的供应链转型带来的切实好处。摆脱以中国进口为中心的模式增强了我们的物流控制，减少了对关税波动的暴露，并提高了我们快速响应客户需求的能力。此外，我们在美国的合资制造线持续扩展，支持了利润稳定，并为长期运营韧性提供了平台。”

“Looking ahead, we remain focused on building a more efficient, agile, and profitable organization. As part of our Digital Asset Strategy, which remains subject to implementation, we aim to leverage our retail and e-commerce infrastructure to connect consumers with digital-asset products from licensed providers, broadening access and creating value for customers, partners, and shareholders. With a streamlined cost structure, strong operational momentum, and an expanding network of SuperSuite partners, we believe we are well positioned to drive sustainable growth and create long-term value for our shareholders.”

“展望未来，我们将继续专注于建设一个更高效、灵活和盈利的组织。作为我们数字资产战略的一部分（该战略仍在实施中），我们旨在利用我们的零售和电子商务基础设施，将消费者与来自持牌供应商的数字资产产品连接起来，拓宽访问渠道，为客户、合作伙伴和股东创造价值。凭借精简的成本结构、强劲的运营势头和不断扩展的 SuperSuite 合作伙伴网络，我们相信我们已做好推动可持续增长和为股东创造长期价值的准备。”

Fiscal First Quarter 2026 Financial Results

2026 财年第一季度财务业绩

Total revenue in the fiscal first quarter of 2026 was $12.0 million compared to $19.0 million for the same period in fiscal 2025. The decrease was driven primarily by lower product sales to the Company’s largest channel partner, partially offset by growth in iPower’s SuperSuite supply chain offerings.

2026 财年第一季度的总收入为 1200 万美元，而 2025 财年同一时期为 1900 万美元。收入下降主要是由于对公司最大渠道合作伙伴的产品销售减少，部分被 iPower 的 SuperSuite 供应链产品的增长所抵消。

Gross profit in the fiscal first quarter of 2026 was $4.8 million compared to $8.5 million in the same quarter in fiscal 2025. As a percentage of revenue, gross margin was 40.0% compared to 44.7% in the year-ago period. The decrease in gross margin was primarily driven by an increase in services income in the quarter.

2026 财年第一季度的毛利润为 480 万美元，而 2025 财年同一季度为 850 万美元。毛利率占收入的 40.0%，而去年同期为 44.7%。毛利率的下降主要是由于本季度服务收入的增加。

Total operating expenses in the fiscal first quarter of 2026 reduced by 42% to $6.5 million compared to $11.2 million for the same period in fiscal 2025. The decrease in operating expenses was driven primarily by personnel reductions and improved efficiencies resulting from the Company’s ongoing efforts to optimize its cost structure and streamline operations.

2026 财年第一季度的总运营费用减少 42%，降至 650 万美元，而 2025 财年同一时期为 1120 万美元。运营费用的减少主要是由于人员减少和公司持续优化成本结构及精简运营所带来的效率提升。

Net loss attributable to iPower in the fiscal first quarter of 2026 improved to $0.5 million or $(0.51) per share, compared to net loss attributable to iPower of $2.1 million or $(1.94) per share for the same period in fiscal 2025.

2026 财年第一季度归属于 iPower 的净亏损改善至 50 万美元，或每股$(0.51)，相比之下，2025 财年同一时期归属于 iPower 的净亏损为 210 万美元，或每股$(1.94)。

Cash and cash equivalents were $0.9 million at September 30, 2025, compared to $2.0 million at June 30, 2025. As a result of the Company’s debt paydown, total debt was reduced by 48% to $1.9 million compared to $3.7 million as of June 30, 2025.

截至2025年9月30日，现金及现金等价物为 90 万美元，而2025年6月30日为 200 万美元。由于公司的债务偿还，总债务减少 48%，降至 190 万美元，而2025年6月30日为 370 万美元。

About iPower Inc.

关于 iPower Inc.

iPower Inc. (Nasdaq: IPW) is a technology- and data-driven online retailer and a provider of value-added e-commerce services for third-party products and brands. iPower operates a nationwide fulfillment network and is expanding infrastructure across software, logistics, and manufacturing, with an aim to also pursue initiatives in digital assets and blockchain integration. For more information, please visit www.meetipower.com.

iPower Inc.（纳斯达克：IPW）是一家以技术和数据驱动的在线零售商，也是第三方产品和品牌的增值电子商务服务提供商。iPower 运营着全国性的履行网络，并在软件、物流和制造领域扩展基础设施，同时也旨在追求数字资产和区块链整合的相关举措。欲了解更多信息，请访问 www.meetipower.com。

Forward-Looking Statements

前瞻性声明

All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that iPower believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. iPower undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although iPower believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and iPower cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results and performance in iPower's Annual Report on Form 10-K and in its other SEC filings, including its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

本新闻稿中除历史事实陈述外的所有声明均为前瞻性声明。这些前瞻性声明涉及已知和未知的风险和不确定性，并基于 iPower 认为可能影响其财务状况、经营结果、商业战略和财务需求的未来事件和财务趋势的当前预期和预测。投资者可以通过 “可能”、“将”、“期望”、“预期”、“目标”、“估计”、“打算”、“计划”、“相信”、“潜在”、“继续”、“可能会” 等词语或短语识别这些前瞻性声明。iPower 没有义务更新前瞻性声明以反映后续事件或情况，或其预期的变化，除非法律要求。尽管 iPower 相信这些前瞻性声明中表达的预期是合理的，但无法保证这些预期会正确实现，并提醒投资者实际结果可能与预期结果有重大差异，并鼓励投资者查看可能影响其未来结果和表现的其他因素，这些因素在 iPower 的 10-K 表格年度报告和其他 SEC 文件中，包括 10-Q 表格季度报告和 8-K 表格当前报告中有所披露。

Media & Investor Contact

媒体及投资者联系

IPW.IR@meetipower.com


iPower Inc. and Subsidiaries
Unaudited Condensed Consolidated Balance Sheets
As of September 30, 2025 and June 30, 2025

					September 30,		June 30,
					2025			2025
					(Unaudited)
ASSETS
Current assets
	Cash and cash equivalent		$	903,975			$	2,007,890
	Accounts receivable, net			5,106,192				6,124,008
	Inventories, net			4,332,605				8,131,203
	Prepayments and other current assets, net			1,491,528				3,111,210
			Total current assets			11,834,300				19,374,311

Non-current assets
	Right of use - non-current			3,603,165				3,915,539
	Property and equipment, net			350,972				390,349
	Deferred tax assets, net			3,916,706				3,724,462
	Goodwill			3,034,110				3,034,110
	Investment in joint venture			678,706				385,180
	Intangible assets, net			2,818,986				2,981,328
	Other non-current assets			2,355,349				1,837,488
			Total non-current assets			16,757,994				16,268,456

			Total assets		$	28,592,294			$	35,642,767

LIABILITIES AND EQUITY
Current liabilities
	Accounts payable, net			3,603,377				7,180,009
	Other payables and accrued liabilities			1,176,041				1,893,921
	Lease liability - current			1,389,834				1,361,111
	Short-term loan payable - related party			500,000				-
	Revolving loan payable, net			1,449,438				3,737,602
	Income taxes payable			-				280,155
			Total current liabilities			8,118,690				14,452,798

Non-current liabilities
	Lease liability - non-current			2,556,104				2,913,967
			Total non-current liabilities			2,556,104				2,913,967

			Total liabilities			10,674,794				17,366,765

Commitments and contingency			-				-

Stockholders' Equity
	Preferred stock, $0.001 par value; 20,000,000 shares authorized; 0 shares issued and
		outstanding at September 30, 2025 and June 30, 2025			-				-
	**Common stock, $0.001 par value; 180,000,000 shares authorized; 1,049,790 and
		1,045,330 shares issued and outstanding at September 30, 2025 and June 30, 2025	1,050				1,045
	Additional paid in capital			33,631,399				33,481,201
	Accumulated deficits			(15,732,537	)			(15,198,889	)
	Non-controlling interest			(47,462	)			(47,462	)
	Accumulated other comprehensive loss			65,050				40,107
			Total stockholders' equity			17,917,500				18,276,002

			Total liabilities and stockholders' equity		$	28,592,294			$	35,642,767


iPower Inc.及其子公司
未审计的合并资产负债表
截至2025年9月30日和2025年6月30日

					2025年9月30日		2025年6月30日
					(未审计)
资产
流动资产
	现金及现金等价物		$	903,975			$	2,007,890
	应收账款，净额			5,106,192				6,124,008
	存货，净额			4,332,605				8,131,203
	预付款及其他流动资产，净额			1,491,528				3,111,210
			流动资产合计			11,834,300				19,374,311

非流动资产
	使用权资产 - 非流动			3,603,165				3,915,539
	固定资产，净额			350,972				390,349
	递延所得税资产，净额			3,916,706				3,724,462
	商誉			3,034,110				3,034,110
	对合资企业的投资			678,706				385,180
	无形资产，净额			2,818,986				2,981,328
	其他非流动资产			2,355,349				1,837,488
			非流动资产合计			16,757,994				16,268,456

			资产总计		$	28,592,294			$	35,642,767

负债和股东权益
流动负债
	应付账款，净额			3,603,377				7,180,009
	其他应付款及应计负债			1,176,041				1,893,921
	租赁负债 - 流动			1,389,834				1,361,111
	短期贷款应付 - 关联方			500,000				-
	循环贷款应付，净额			1,449,438				3,737,602
	应付所得税			-				280,155
			流动负债合计			8,118,690				14,452,798

非流动负债
	租赁负债 - 非流动			2,556,104				2,913,967
			非流动负债合计			2,556,104				2,913,967

			负债总计			10,674,794				17,366,765

承诺和或有事项			-				-

股东权益
	优先股，面值$0.001；授权 20,000,000 股；2025年9月30日和2025年6月30日未发行和
		流通的股份数为 0			-				-
	** 普通股，面值$0.001；授权 180,000,000 股；2025年9月30日和2025年6月30日已发行和
		流通的股份数为 1,049,790 和 1,045,330	1,050				1,045
	额外实收资本			33,631,399				33,481,201
	累计亏损			(15,732,537	)			(15,198,889	)
	非控股权益			(47,462	)			(47,462	)
	累计其他综合损失			65,050				40,107
			股东权益总计			17,917,500				18,276,002

			负债和股东权益总计		$	28,592,294			$	35,642,767


iPower Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
For the Three Months Ended September 30, 2025 and 2024

			For the Three Months Ended September 30,
			2025			2024

REVENUES
	Product sales	$	10,484,661			$	18,275,412
	Service income		1,532,806				733,109
		Total revenues		12,017,467				19,008,521

COST OF REVENUES
	Product costs		5,878,262				9,917,448
	Service costs		1,332,681				603,176
		Total cost of revenues		7,210,943				10,520,624

GROSS PROFIT		4,806,524				8,487,897

OPERATING EXPENSES:
	Selling and fulfillment		5,180,190				5,914,808
	General and administrative		1,321,513				5,319,523
		Total operating expenses		6,501,703				11,234,331

LOSS FROM OPERATIONS		(1,695,179	)			(2,746,434	)

OTHER INCOME (EXPENSE)
	Interest expenses		(61,719	)			(139,962	)
	Loss on equity method investment		-				(919	)
	Loss on deconsolidation of VIE		(39,624	)			-
	Other non-operating income (expenses)		799,290				218,686
		Total other income, net		697,947				77,805

LOSS BEFORE INCOME TAXES		(997,232	)			(2,668,629	)

PROVISION FOR INCOME TAX BENEFIT		(463,584	)			(636,512	)
NET LOSS		(533,648	)			(2,032,117	)

	Non-controlling interest		-				(2,836	)
NET LOSS ATTRIBUTABLE TO IPOWER INC.	$	(533,648	)		$	(2,029,281	)

OTHER COMPREHENSIVE INCOME (LOSS)
	Foreign currency translation adjustments		24,943				(55,054	)
COMPREHENSIVE LOSS ATTRIBUTABLE TO IPOWER INC.	$	(508,705	)		$	(2,084,335	)

WEIGHTED AVERAGE NUMBER OF COMMON STOCK
	Basic		1,049,595				1,047,240

	Diluted		1,049,595				1,047,240

LOSSES PER SHARE
	Basic	$	(0.51	)		$	(1.94	)

	Diluted	$	(0.51	)		$	(1.94	)


iPower Inc. 及其子公司
未审计的简明合并经营报表及综合亏损
截至 2025 年和2024年9月30日的三个月

			截至 9 月 30 日的三个月
			2025			2024

收入
	产品销售	$	10,484,661			$	18,275,412
	服务收入		1,532,806				733,109
		总收入		12,017,467				19,008,521

收入成本
	产品成本		5,878,262				9,917,448
	服务成本		1,332,681				603,176
		总收入成本		7,210,943				10,520,624

毛利润		4,806,524				8,487,897

营业费用：
	销售及履行费用		5,180,190				5,914,808
	一般及行政费用		1,321,513				5,319,523
		总营业费用		6,501,703				11,234,331

营业亏损		(1,695,179	)			(2,746,434	)

其他收入（费用）
	利息费用		(61,719	)			(139,962	)
	权益法投资损失		-				(919	)
	VIE 解散损失		(39,624	)			-
	其他非营业收入（费用）		799,290				218,686
		净其他收入		697,947				77,805

税前亏损		(997,232	)			(2,668,629	)

所得税收益准备		(463,584	)			(636,512	)
净亏损		(533,648	)			(2,032,117	)

	非控股权益		-				(2,836	)
归属于 iPower Inc. 的净亏损	$	(533,648	)		$	(2,029,281	)

其他综合收益（亏损）
	外币换算调整		24,943				(55,054	)
归属于 iPower Inc. 的综合亏损	$	(508,705	)		$	(2,084,335	)

普通股加权平均数
	基本		1,049,595				1,047,240

	稀释		1,049,595				1,047,240

每股亏损
	基本	$	(0.51	)		$	(1.94	)

	稀释	$	(0.51	)		$	(1.94	)

All share of common stock and per share numbers in the unaudited condensed consolidated financial statements have been adjusted retroactively to reflect the 1-for-30 reverse stock split effected on October 27, 2025, for all periods presented.

所有普通股及每股数据在未审计的简明合并财务报表中已追溯调整，以反映2025年10月27日实施的 1 股换 30 股的反向股票拆分，适用于所有呈现的期间。

iPower 公布 2026 财年第一季度业绩 | IPW 股票新闻