Quarterly ResultMay 20, 2026, 05:08 PM
iPower Reports Q3 Net Loss $3.45M; Divests GPM Subsidiary
AI Summary
iPower Inc. reported a net loss of $3.45 million for the three months ended March 31, 2026, and a net loss of $5.18 million for the nine months ended March 31, 2026. These results include a significant goodwill impairment charge of $3.03 million and a loss on extinguishment of debt. The company completed the divestment of its GPM subsidiary on February 1, 2026, which is now reflected as discontinued operations. Additionally, iPower formed iPower Smart LLC for digital treasury and iPower Nexus Inc. for supply chain management, and effected a 1-for-30 reverse stock split in October 2025.
Key Highlights
- Divested GPM subsidiary on February 1, 2026, for a $2.3 million promissory note.
- Reported Q3 2026 net loss of $3.45 million, significantly wider than $0.34 million in Q3 2025.
- Recognized a goodwill impairment loss of $3.03 million for the nine months ended March 31, 2026.
- Total revenues for Q3 2026 decreased to $3.50 million from $16.04 million in Q3 2025.
- Total revenues for the nine months ended March 31, 2026, fell to $18.52 million from $52.65 million in 2025.
- Cash and cash equivalents decreased to $713,685 at March 31, 2026, from $1.68 million at June 30, 2025.
- Net cash provided by operating activities was $430,399 for the nine months ended March 31, 2026.
- Effected a 1-for-30 reverse stock split on October 27, 2025.
Price Impact
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