Quarterly ResultMay 20, 2026, 05:08 PM
iPower Q3 Operating Expenses Down 66%; Non-GAAP Loss Narrows
AI Summary
iPower Inc. reported its fiscal third quarter 2026 results, showing continued progress in its strategic operating reset. The company significantly reduced operating expenses by 66% sequentially and narrowed its non-GAAP net loss to $(0.3) million. While GAAP net loss was $(3.5) million due to a non-cash goodwill impairment, iPower is strengthening its platform through asset-light operations, contracted sublease income, and a newly launched AI infrastructure strategy.
Key Highlights
- Revenue from continuing operations was $3.5 million for Q3 2026.
- Gross profit was $0.8 million, with a gross margin of 21.6%.
- Total operating expenses declined 66% sequentially to $1.9 million.
- GAAP net loss was $(3.5) million, primarily due to a $3.0 million non-cash goodwill impairment.
- Non-GAAP net loss narrowed to $(0.3) million, or $(0.18) per share.
- Current assets were $14.5 million and current liabilities $6.6 million, a 2.2x current ratio.
- Sublease agreement to generate over $2.6 million in contracted income through May 2028.
- Committed up to $3 million to purchase sUSDai for AI infrastructure strategy.
Price Impact
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