iPower Inc. IPW
Inc.), a California-based corporation, was formed in Nevada in April 2018 ("iPower," "we," or "us").
Driven by tech and data, iPower is an online retailer and supplier of consumer home, pet, garden products, outdoor and consumer electronics,
as well as a provider of value-added ecommerce services for third-party products and brands. iPower's capabilities include a full spectrum
of online channels, robust fulfillment capacity, a network of warehouses serving the U.S., competitive last mile delivery partners and
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $66.1M | $86.1M | $88.9M | $79.4M | $54.1M | $39.9M | — |
| Cost of revenue | $37.1M | $48.0M | $54.1M | $46.2M | $31.3M | $24.8M | — |
| Gross profit | $29.0M | $38.1M | $34.8M | $33.2M | $22.8M | $15.1M | — |
| SG&A | $12.7M | $12.1M | $12.8M | $11.7M | $6.4M | $3.3M | — |
| Total operating expenses | $34.9M | $39.1M | $48.3M | $30.9M | $19.9M | $12.2M | — |
| Operating income | -$5.9M | -$962.9K | -$13.5M | $2.3M | $3.0M | $2.9M | — |
| Interest expense | $427.0K | $739.2K | $980.1K | $359.4K | $0 | $168.3K | — |
| Pre-tax income | — | -$1.8M | -$14.7M | $2.1M | -$9.0K | $2.8M | — |
| Income tax | $1.3M | $251.4K | $2.7M | $559.0K | $766.8K | $773.4K | — |
| Net income | — | -$1.5M | -$12.0M | $1.5M | -$775.7K | $2.0M | — |
| EPS, basic | -0.16 | -0.05 | -0.40 | 0.06 | -0.04 | — | — |
| EPS, diluted | -0.16 | -0.05 | -0.40 | 0.06 | -0.04 | 0.10 | — |
| Shares, diluted (wtd. avg.) | $31.4M | $29.9M | $29.7M | $27.8M | $21.1M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.8M | $7.2M | $3.7M | $1.8M | $6.7M | $977.6K | $471.5K |
| Receivables | $6.1M | $14.7M | $14.1M | $17.4M | $7.9M | $6.1M | — |
| Inventory | $8.1M | $10.5M | $20.6M | $30.4M | $13.1M | $5.7M | — |
| Total current assets | $19.4M | $35.0M | $41.3M | $55.2M | $32.3M | $13.4M | — |
| Property, plant and equipment | $390.3K | $370.9K | $536.4K | $544.6K | $55.7K | $6.3K | — |
| Goodwill | $3.0M | $3.0M | $3.0M | $6.1M | $0 | — | — |
| Other intangibles | $3.0M | $3.6M | $4.3M | $4.9M | $0 | — | — |
| Total assets | $35.6M | $51.3M | $60.1M | $78.6M | $35.6M | $13.7M | — |
| Accounts payable | $7.2M | $11.2M | $13.2M | $9.5M | $3.9M | $4.2M | — |
| Short-term debt | $0 | $491.2K | — | — | — | — | — |
| Total current liabilities | $14.5M | $23.8M | $23.3M | $22.9M | $9.0M | $10.2M | — |
| Long-term debt | — | — | — | — | $458.6K | $500.0K | — |
| Total liabilities | $17.4M | $28.3M | $39.2M | $46.2M | $10.7M | $10.7M | — |
| Retained earnings | -$15.2M | -$10.2M | -$8.7M | $3.3M | $1.7M | $2.5M | — |
| Total equity | $18.3M | $23.0M | $20.9M | $32.4M | $25.0M | $2.9M | $516.5K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$579.2K | $6.2M | $9.2M | -$16.6M | -$12.8M | $1.1M | — |
| Depreciation and amortisation | $780.0K | $796.2K | $796.4K | — | $12.1K | $0 | — |
| Stock-based compensation | — | $512.5K | $512.8K | $372.4K | $110.7K | $0 | — |
| Capital expenditure | $163.6K | $0 | $140.8K | $484.2K | $61.5K | $6.3K | — |
| Investing cash flow | -$2.0M | $0 | -$140.8K | -$139.4K | -$61.5K | -$6.3K | — |
| Financing cash flow | -$3.0M | -$2.4M | -$7.2M | $11.9M | $18.5M | -$596.6K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-25-007480.
Others in SIC 5200
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SHW | SHERWIN WILLIAMS CO | $81.01B | 32.5x | 2.1% |
| FAST | FASTENAL CO | $56.92B | 45.5x | 8.7% |
| TSCO | TRACTOR SUPPLY CO /DE/ | $18.23B | 17.0x | 4.3% |
| GRWG | GrowGeneration Corp. | $96.9M | — | -14.4% |
| ZKH | ZKH Group Ltd | — | — | — |