Ispire Technology Inc. ISPR
are committed to delivering superior products that challenge industry norms, with the goal of delivering an unmatched customer and adult
consumer experience. In achieving this, risk reduction is central to our mission, and we aim to improve the lives of our consumers through
cutting-edge research and development. Our technology platforms look to reduce youth access to vaping products, which in turn will facilitate
our ability to provide adult consumers with the products they desire.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $127.5M | $151.9M | $115.6M | $88.1M | — |
| Cost of revenue | $104.8M | $122.1M | $94.8M | $74.8M | — |
| Gross profit | $22.6M | $29.8M | $20.8M | $13.3M | — |
| R&D | $363.3K | $779.2K | $146.1K | — | — |
| SG&A | $30.0M | $31.1M | $20.8M | $8.8M | — |
| Total operating expenses | $60.5M | $43.7M | $25.3M | $14.3M | — |
| Operating income | -$37.8M | -$13.9M | -$4.5M | -$988.7K | — |
| Pre-tax income | -$38.0M | -$13.5M | -$4.8M | -$803.1K | — |
| Income tax | $1.2M | $1.3M | $1.2M | — | — |
| Net income | -$39.2M | -$14.8M | -$6.0M | -$1.9M | — |
| EPS, basic | -0.69 | -0.27 | -0.12 | -0.04 | — |
| EPS, diluted | -0.69 | -0.27 | -0.12 | -0.04 | — |
| Shares, diluted (wtd. avg.) | $56.9M | $54.8M | $50.7M | $50.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $24.4M | $35.1M | $40.3M | $74.5M | $85.2M |
| Short-term investments | — | — | $9.1M | — | — |
| Receivables | $39.7M | $59.7M | $24.5M | $8.3M | — |
| Inventory | $6.6M | $6.4M | $7.5M | $14.6M | — |
| Total current assets | $72.9M | $102.6M | $84.8M | $99.4M | — |
| Property, plant and equipment | $3.0M | $2.6M | $1.1M | $114.0K | — |
| Other intangibles | $2.2M | $1.4M | — | — | — |
| Total assets | $102.2M | $122.6M | $90.4M | $100.7M | — |
| Accounts payable | $4.2M | $3.8M | $1.3M | $290.5K | — |
| Total current liabilities | $72.5M | $86.0M | $55.9M | $89.0M | — |
| Total liabilities | $101.6M | $88.2M | $58.9M | $89.0M | — |
| Retained earnings | -$48.1M | -$8.8M | $5.9M | $11.9M | — |
| Total equity | $604.7K | $34.5M | $31.5M | $11.8M | $13.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$7.4M | -$18.3M | -$8.5M | -$7.6M | — |
| Depreciation and amortisation | $730.4K | $479.1K | $46.6K | $10.4K | — |
| Stock-based compensation | $5.6M | $6.4M | — | — | — |
| Capital expenditure | $1.1M | $2.0M | $1.0M | $121.5K | — |
| Investing cash flow | -$5.2M | $3.0M | -$10.2M | -$121.5K | — |
| Financing cash flow | $1.9M | $10.1M | -$15.6M | -$3.1M | — |
| Dividends paid | — | — | $3.4M | $469.6K | — |
| Buybacks | $60.5K | — | — | — | — |
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 0001213900-25-087632.
Others in SIC 2111
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| PM | Philip Morris International Inc. | $284.49B | 25.1x | 7.3% |
| MO | ALTRIA GROUP, INC. | $115.01B | 16.7x | -3.1% |
| XXII | 22nd Century Group, Inc. | $1.7M | — | -27.9% |
| BTI | British American Tobacco p.l.c. | — | — | — |
| RLX | RLX Technology Inc. | — | — | 50.3% |