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.

加利福尼亞州蘭喬庫卡蒙加，2025年11月14日（GLOBE NEWSWIRE）-- iPower Inc.（納斯達克：IPW）（“iPower” 或 “公司”），一家以數據和技術驅動的電子商務零售商及基礎設施公司，今天公佈了截至2025年9月30日的財年第一季度財務業績。

Fiscal Q1 2026 Results vs. Year-Ago Quarter

2026 財年第一季度業績與去年同期比較

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.

總收入為 1200 萬美元，較去年的 1900 萬美元下降，服務收入增長超過 2 倍，達到 150 萬美元。
毛利潤為 480 萬美元，較 850 萬美元下降，毛利率為 40.0%，較去年同期的 44.7% 下降。
歸屬於 iPower 的淨虧損改善至 50 萬美元，或每股$(0.51)，相比之下，去年同期歸屬於 iPower 的淨虧損為 210 萬美元，或每股$(1.94)。
截至2025年9月30日，總債務減少 48%，降至 190 萬美元，而2025年6月30日為 370 萬美元。

Management Commentary

管理層評論

“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 財年開局良好，我們開始看到去年實施的戰略優化舉措的成效，” iPower 首席執行官 Lawrence Tan 表示。“我們對成本管理的嚴格控制，包括針對性減少運營費用，為本季度的底線帶來了顯著改善。這些效率，加上我們在債務義務上的大幅減少，突顯了我們在加強業務基本面方面所取得的進展。”

“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.”

“我們還看到向更為多元化和以國內為主的供應鏈轉型帶來的切實好處。擺脱以中國進口為中心的模式增強了我們的物流控制，減少了對關税波動的暴露，並提高了我們快速響應客户需求的能力。此外，我們在美國的合資製造線持續擴展，支持了利潤穩定，併為長期運營韌性提供了平台。”

“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.”

“展望未來，我們將繼續專注於建設一個更高效、靈活和盈利的組織。作為我們數字資產戰略的一部分（該戰略仍在實施中），我們旨在利用我們的零售和電子商務基礎設施，將消費者與來自持牌供應商的數字資產產品連接起來，拓寬訪問渠道，為客户、合作伙伴和股東創造價值。憑藉精簡的成本結構、強勁的運營勢頭和不斷擴展的 SuperSuite 合作伙伴網絡，我們相信我們已做好推動可持續增長和為股東創造長期價值的準備。”

Fiscal First Quarter 2026 Financial Results

2026 財年第一季度財務業績

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 財年第一季度的總收入為 1200 萬美元，而 2025 財年同一時期為 1900 萬美元。收入下降主要是由於對公司最大渠道合作伙伴的產品銷售減少，部分被 iPower 的 SuperSuite 供應鏈產品的增長所抵消。

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 財年第一季度的毛利潤為 480 萬美元，而 2025 財年同一季度為 850 萬美元。毛利率佔收入的 40.0%，而去年同期為 44.7%。毛利率的下降主要是由於本季度服務收入的增加。

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 財年第一季度的總運營費用減少 42%，降至 650 萬美元，而 2025 財年同一時期為 1120 萬美元。運營費用的減少主要是由於人員減少和公司持續優化成本結構及精簡運營所帶來的效率提升。

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 財年第一季度歸屬於 iPower 的淨虧損改善至 50 萬美元，或每股$(0.51)，相比之下，2025 財年同一時期歸屬於 iPower 的淨虧損為 210 萬美元，或每股$(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，現金及現金等價物為 90 萬美元，而2025年6月30日為 200 萬美元。由於公司的債務償還，總債務減少 48%，降至 190 萬美元，而2025年6月30日為 370 萬美元。

About iPower Inc.

關於 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.（納斯達克：IPW）是一家以技術和數據驅動的在線零售商，也是第三方產品和品牌的增值電子商務服務提供商。iPower 運營着全國性的履行網絡，並在軟件、物流和製造領域擴展基礎設施，同時也旨在追求數字資產和區塊鏈整合的相關舉措。欲瞭解更多信息，請訪問 www.meetipower.com。

Forward-Looking Statements

前瞻性聲明

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.

本新聞稿中除歷史事實陳述外的所有聲明均為前瞻性聲明。這些前瞻性聲明涉及已知和未知的風險和不確定性，並基於 iPower 認為可能影響其財務狀況、經營結果、商業戰略和財務需求的未來事件和財務趨勢的當前預期和預測。投資者可以通過 “可能”、“將”、“期望”、“預期”、“目標”、“估計”、“打算”、“計劃”、“相信”、“潛在”、“繼續”、“可能會” 等詞語或短語識別這些前瞻性聲明。iPower 沒有義務更新前瞻性聲明以反映後續事件或情況，或其預期的變化，除非法律要求。儘管 iPower 相信這些前瞻性聲明中表達的預期是合理的，但無法保證這些預期會正確實現，並提醒投資者實際結果可能與預期結果有重大差異，並鼓勵投資者查看可能影響其未來結果和表現的其他因素，這些因素在 iPower 的 10-K 表格年度報告和其他 SEC 文件中，包括 10-Q 表格季度報告和 8-K 表格當前報告中有所披露。

Media & Investor Contact

媒體及投資者聯繫

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
未審計的合併資產負債表
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
					(未審計)
資產
流動資產
	現金及現金等價物		$	903,975			$	2,007,890
	應收賬款，淨額			5,106,192				6,124,008
	存貨，淨額			4,332,605				8,131,203
	預付款及其他流動資產，淨額			1,491,528				3,111,210
			流動資產合計			11,834,300				19,374,311

非流動資產
	使用權資產 - 非流動			3,603,165				3,915,539
	固定資產，淨額			350,972				390,349
	遞延所得税資產，淨額			3,916,706				3,724,462
	商譽			3,034,110				3,034,110
	對合資企業的投資			678,706				385,180
	無形資產，淨額			2,818,986				2,981,328
	其他非流動資產			2,355,349				1,837,488
			非流動資產合計			16,757,994				16,268,456

			資產總計		$	28,592,294			$	35,642,767

負債和股東權益
流動負債
	應付賬款，淨額			3,603,377				7,180,009
	其他應付款及應計負債			1,176,041				1,893,921
	租賃負債 - 流動			1,389,834				1,361,111
	短期貸款應付 - 關聯方			500,000				-
	循環貸款應付，淨額			1,449,438				3,737,602
	應付所得税			-				280,155
			流動負債合計			8,118,690				14,452,798

非流動負債
	租賃負債 - 非流動			2,556,104				2,913,967
			非流動負債合計			2,556,104				2,913,967

			負債總計			10,674,794				17,366,765

承諾和或有事項			-				-

股東權益
	優先股，面值$0.001；授權 20,000,000 股；2025年9月30日和2025年6月30日未發行和
		流通的股份數為 0			-				-
	** 普通股，面值$0.001；授權 180,000,000 股；2025年9月30日和2025年6月30日已發行和
		流通的股份數為 1,049,790 和 1,045,330	1,050				1,045
	額外實收資本			33,631,399				33,481,201
	累計虧損			(15,732,537	)			(15,198,889	)
	非控股權益			(47,462	)			(47,462	)
	累計其他綜合損失			65,050				40,107
			股東權益總計			17,917,500				18,276,002

			負債和股東權益總計		$	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
未審計的簡明合併經營報表及綜合虧損
截至 2025 年和2024年9月30日的三個月

			截至 9 月 30 日的三個月
			2025			2024

收入
	產品銷售	$	10,484,661			$	18,275,412
	服務收入		1,532,806				733,109
		總收入		12,017,467				19,008,521

收入成本
	產品成本		5,878,262				9,917,448
	服務成本		1,332,681				603,176
		總收入成本		7,210,943				10,520,624

毛利潤		4,806,524				8,487,897

營業費用：
	銷售及履行費用		5,180,190				5,914,808
	一般及行政費用		1,321,513				5,319,523
		總營業費用		6,501,703				11,234,331

營業虧損		(1,695,179	)			(2,746,434	)

其他收入（費用）
	利息費用		(61,719	)			(139,962	)
	權益法投資損失		-				(919	)
	VIE 解散損失		(39,624	)			-
	其他非營業收入（費用）		799,290				218,686
		淨其他收入		697,947				77,805

税前虧損		(997,232	)			(2,668,629	)

所得税收益準備		(463,584	)			(636,512	)
淨虧損		(533,648	)			(2,032,117	)

	非控股權益		-				(2,836	)
歸屬於 iPower Inc. 的淨虧損	$	(533,648	)		$	(2,029,281	)

其他綜合收益（虧損）
	外幣換算調整		24,943				(55,054	)
歸屬於 iPower Inc. 的綜合虧損	$	(508,705	)		$	(2,084,335	)

普通股加權平均數
	基本		1,049,595				1,047,240

	稀釋		1,049,595				1,047,240

每股虧損
	基本	$	(0.51	)		$	(1.94	)

	稀釋	$	(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.

所有普通股及每股數據在未審計的簡明合併財務報表中已追溯調整，以反映2025年10月27日實施的 1 股換 30 股的反向股票拆分，適用於所有呈現的期間。

iPower 公佈 2026 財年第一季度業績 | IPW 股票新聞