Ispire Technology Inc. (ISPR) 10-Year Financial Performance & Capital Metrics

ISPR • • Industrial / General

Consumer DefensiveTobaccoNext-Generation ProductsSpecialty Vapor Products

AboutIspire Technology Inc. manufactures e-cigarettes and cannabis vaping products. The company was founded in 2019 and is based in Los Angeles, California. Ispire Technology Inc. operates as a subsidiary of Pride Worldwide Investment LimitedShow more

Revenue $127M -16.1%
EBITDA -$36M -192.3%
Net Income -$39M -165.7%
EPS (Diluted) -0.69 -155.6%
Gross Margin 17.77% -9.4%
EBITDA Margin -27.91% -248.2%
Operating Margin -29.69% -224.6%
Net Margin -30.78% -216.6%
ROE -223.84% -399.6%
ROIC -
Debt/Equity 11.67 +11722.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗High debt to equity ratio of 11.7x
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 276.4x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y13.11%

TTM-20.13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-94.66%

EPS CAGR

10Y-

5Y-

3Y-

TTM-89.23%

ROCE

10Y Avg-30.84%

5Y Avg-30.84%

3Y Avg-57.5%

Latest-114.13%

Peer Comparison

Specialty Vapor Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
XXII22nd Century Group, Inc.	6.62M	0.87	-0.00	-63.12%	-65.69%	-32.23%	2.15
KAVLKaival Brands Innovations Group, Inc.	313.02K	0.03	-0.02	-47.38%	-7.48%	-80.37%	0.08
ISPRIspire Technology Inc.	168.39M	2.94	-4.26	-16.07%	-31.14%	-223.84%	11.67

Profit & Loss

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	63.41M	88.1M	115.61M	151.91M	127.49M
Revenue Growth %	-	0.39%	0.31%	0.31%	-0.16%
Cost of Goods Sold+	53M	74.79M	94.83M	122.13M	104.84M
COGS % of Revenue	0.84%	0.85%	0.82%	0.8%	0.82%
Gross Profit+	10.42M	13.31M	20.78M	29.78M	22.65M
Gross Margin %	0.16%	0.15%	0.18%	0.2%	0.18%
Gross Profit Growth %	-	0.28%	0.56%	0.43%	-0.24%
Operating Expenses+	6.77M	14.29M	25.25M	43.68M	60.5M
OpEx % of Revenue	0.11%	0.16%	0.22%	0.29%	0.47%
Selling, General & Admin	6.77M	14.29M	25.25M	37.66M	38.46M
SG&A % of Revenue	0.11%	0.16%	0.22%	0.25%	0.3%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	0	0	6.02M	22.03M
Operating Income+	3.64M	-988.67K	-4.47M	-13.89M	-37.85M
Operating Margin %	0.06%	-0.01%	-0.04%	-0.09%	-0.3%
Operating Income Growth %	-	-1.27%	-3.53%	-2.11%	-1.72%
EBITDA+	3.96M	-842.09K	-3.4M	-12.17M	-35.58M
EBITDA Margin %	0.06%	-0.01%	-0.03%	-0.08%	-0.28%
EBITDA Growth %	-	-1.21%	-3.03%	-2.58%	-1.92%
D&A (Non-Cash Add-back)	320.62K	146.58K	1.08M	1.72M	2.27M
EBIT	3.64M	-988.67K	-4.47M	-13.89M	-38.04M
Net Interest Income+	882	5.08K	195.21K	365.25K	87K
Interest Income	882	5.08K	195.21K	365.25K	87K
Interest Expense	0	0	0	0	0
Other Income/Expense	-19.77K	185.62K	-284.17K	408.36K	-186.66K
Pretax Income+	3.62M	-803.06K	-4.76M	-13.49M	-38.04M
Pretax Margin %	0.06%	-0.01%	-0.04%	-0.09%	-0.3%
Income Tax+	685.82K	1.07M	1.25M	1.28M	1.2M
Effective Tax Rate %	0.81%	2.33%	1.26%	1.1%	1.03%
Net Income+	2.94M	-1.87M	-6M	-14.77M	-39.24M
Net Margin %	0.05%	-0.02%	-0.05%	-0.1%	-0.31%
Net Income Growth %	-	-1.64%	-2.2%	-1.46%	-1.66%
Net Income (Continuing)	2.94M	-1.87M	-6M	-14.77M	-39.24M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	0.06	-0.04	-0.11	-0.27	-0.69
EPS Growth %	-	-1.64%	-2.09%	-1.45%	-1.56%
EPS (Basic)	0.06	-0.04	-0.11	-0.27	-0.69
Diluted Shares Outstanding	52.7M	52.7M	54.22M	54.81M	56.85M
Basic Shares Outstanding	52.7M	52.7M	54.22M	54.81M	56.85M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	93.42M	99.45M	84.81M	102.57M	72.91M
Cash & Short-Term Investments	85.25M	74.48M	49.43M	35.07M	24.35M
Cash Only	85.25M	74.48M	40.3M	35.07M	24.35M
Short-Term Investments	0	0	9.13M	0	0
Accounts Receivable	4.34M	10.32M	24.67M	60.22M	40.18M
Days Sales Outstanding	24.99	42.77	77.89	144.7	115.03
Inventory	3.05M	14.58M	7.47M	6.37M	6.65M
Days Inventory Outstanding	21.04	71.16	28.76	19.02	23.14
Other Current Assets	0	0	0	0	0
Total Non-Current Assets+	443.48K	1.29M	5.58M	20.07M	29.31M
Property, Plant & Equipment	443.48K	409.83K	5.34M	6.16M	7.98M
Fixed Asset Turnover	142.99x	214.96x	21.64x	24.65x	15.97x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	2.23M
Long-Term Investments	0	0	0	12.25M	18.88M
Other Non-Current Assets	0	876.1K	242.61K	284.05K	210.62K
Total Assets+	93.86M	100.74M	90.4M	122.64M	102.22M
Asset Turnover	0.68x	0.87x	1.28x	1.24x	1.25x
Asset Growth %	-	0.07%	-0.1%	0.36%	-0.17%
Total Current Liabilities+	79.84M	88.97M	55.85M	85.99M	72.54M
Accounts Payable	33.38M	42.27M	52.97M	70.83M	56.59M
Days Payables Outstanding	229.88	206.31	203.9	211.68	197.02
Short-Term Debt	0	0	0	0	1.15M
Deferred Revenue (Current)	1000K	1000K	988.56K	1000K	1000K
Other Current Liabilities	0	0	0	717.06K	6.55M
Current Ratio	1.17x	1.12x	1.52x	1.19x	1.01x
Quick Ratio	1.13x	0.95x	1.38x	1.12x	0.91x
Cash Conversion Cycle	-183.85	-92.38	-97.25	-47.95	-58.84
Total Non-Current Liabilities+	270.14K	0	3.07M	2.19M	29.07M
Long-Term Debt	0	0	0	0	805.36K
Capital Lease Obligations	270.14K	0	3.07M	2.19M	3.27M
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	25M
Total Liabilities	80.11M	88.97M	58.93M	88.18M	101.61M
Total Debt+	478.11K	347.54K	3.91M	3.4M	7.06M
Net Debt	-84.77M	-74.13M	-36.39M	-31.67M	-17.29M
Debt / Equity	0.03x	0.03x	0.12x	0.10x	11.67x
Debt / EBITDA	0.12x	-	-	-	-
Net Debt / EBITDA	-21.39x	-	-	-	-
Interest Coverage	-	-	-	-	-
Total Equity+	13.76M	11.77M	31.47M	34.46M	604.69K
Equity Growth %	-	-0.14%	1.67%	0.09%	-0.98%
Book Value per Share	0.26	0.22	0.58	0.63	0.01
Total Shareholders' Equity	13.76M	11.77M	31.47M	34.46M	604.69K
Common Stock	5K	5K	5.42K	5.65K	5.72K
Retained Earnings	13.82M	11.95M	5.94M	-8.83M	-48.07M
Treasury Stock	0	0	0	0	-60.49K
Accumulated OCI	-67.58K	-184.66K	-163.77K	58.34K	-108.87K
Minority Interest	0	0	0	0	0

Cash Flow

	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	5.02M	-7.56M	-7.58M	-18.3M	-7.37M
Operating CF Margin %	0.08%	-0.09%	-0.07%	-0.12%	-0.06%
Operating CF Growth %	-	-2.5%	-0%	-1.41%	0.6%
Net Income	2.94M	-1.87M	-6.1M	-14.77M	-39.24M
Depreciation & Amortization	320.63K	145.54K	1.11M	1.72M	2.31M
Stock-Based Compensation	0	0	0	6.38M	5.62M
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	272.24K	0	3.33M	6.34M	23.67M
Working Capital Changes	1.49M	-5.83M	-5.92M	-17.97M	264.99K
Change in Receivables	-3.87M	-3.95M	-19.58M	-41.3M	-9.33M
Change in Inventory	-3.05M	-11.53M	7.11M	901.12K	-1.04M
Change in Payables	9.39M	8.88M	10.57M	17.89M	10.77M
Cash from Investing+	-798	-121.52K	-10.15M	2.99M	-5.2M
Capital Expenditures	-798	-121.52K	-1.02M	-1.97M	-1.1M
CapEx % of Revenue	0%	0%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	-173.3K	-4.1M
Cash from Financing+	-227.85K	-3.09M	-16.44M	10.08M	1.85M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-469.63K	-3.36M	0	0
Share Repurchases	-	-	-	-	-
Other Financing	55.47K	-2.5M	-41.91M	-2.22M	0
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	5.02M	-7.68M	-8.6M	-21.45M	-8.47M
FCF Margin %	0.08%	-0.09%	-0.07%	-0.14%	-0.07%
FCF Growth %	-	-2.53%	-0.12%	-1.49%	0.6%
FCF per Share	0.10	-0.15	-0.16	-0.39	-0.15
FCF Conversion (FCF/Net Income)	1.71x	4.03x	1.26x	1.24x	0.19x
Interest Paid	0	0	587	15.23K	150.28K
Taxes Paid	1.88M	69.65K	1.66M	1.36M	1.53M

Key Ratios

Metric	2021	2022	2023	2024	2025
Return on Equity (ROE)	21.35%	-14.69%	-27.77%	-44.8%	-223.84%
Return on Invested Capital (ROIC)	-	-	-	-373.9%	-
Gross Margin	16.43%	15.1%	17.97%	19.61%	17.77%
Net Margin	4.63%	-2.13%	-5.19%	-9.72%	-30.78%
Debt / Equity	0.03x	0.03x	0.12x	0.10x	11.67x
FCF Conversion	1.71x	4.03x	1.26x	1.24x	0.19x
Revenue Growth	-	38.92%	31.23%	31.4%	-16.07%

Revenue by Geography

	2024	2025
Europe	65.26M	74.11M
Europe Growth	-	13.56%
North America	63.08M	32.57M
North America Growth	-	-48.37%
Asia Pacific	17.59M	12.27M
Asia Pacific Growth	-	-30.22%

Frequently Asked Questions

Growth & Financials

Ispire Technology Inc. (ISPR) reported $118.5M in revenue for fiscal year 2025. This represents a 87% increase from $63.4M in 2021.

Ispire Technology Inc. (ISPR) saw revenue decline by 16.1% over the past year.

Ispire Technology Inc. (ISPR) reported a net loss of $36.9M for fiscal year 2025.

Dividend & Returns

Ispire Technology Inc. (ISPR) has a return on equity (ROE) of -223.8%. Negative ROE indicates the company is unprofitable.

Ispire Technology Inc. (ISPR) had negative free cash flow of $24.4M in fiscal year 2025, likely due to heavy capital investments.

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