Ispire rebounds in the quarter while annual sales remain lower

Ispire’s ($ISPR) fourth-quarter revenue increased approximately 33% to $26.7 million, also rising 43% from the previous quarter. Its net loss narrowed to $13.8 million from $14.8 million. However, gross margin fell to 6.3% from 12.3%, with inventory impairments weighing on the result, so higher sales did not translate into stronger gross profitability.

Full-year revenue declined 24.7% to $96 million, reflecting weaker sales in the United States, Europe and Asia-Pacific. The company finished the year with $19.3 million in cash and approximately $803,000 in working capital. Management highlighted its operational Malaysian manufacturing facility and developing contract-manufacturing business as potential growth drivers. Those initiatives remain separate from the reported results and do not establish that a sustained earnings turnaround has already been achieved.

Sources:

• Ispire — fourth-quarter and fiscal-year results, ACCESS Newswire reprint