IPW iPower Inc.

Overview and Growth

Fiscal 2026 results for iPower Inc. combined $19.96M of revenue with net loss of $11.62M and an operating cash outflow of $163.47K. Revenue of $19.96M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 68.4% below fiscal 2025 revenue of $63.22M, marking a top-line contraction. On a per-share basis, diluted EPS was -$345.16, which connects the reported earnings outcome with the company’s diluted share count. The diluted weighted-average share count was 33.67K, linking total earnings with the per-share result received by shareholders. At period end, total assets were $28.99M, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.69x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $4.04M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 20.2%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was an operating loss of $14.43M, reflecting costs that exceeded gross profit. An operating margin of -72.3% reflected costs exceeding revenue-level gross profit by 72.3% of sales. The bottom-line result was a net loss of $11.62M after operating, financing, tax, and other recognized items. The net loss equaled 58.2% of revenue, showing the bottom-line deficit relative to the company’s sales base. EBITDA was negative $13.67M, showing a deficit before interest, taxes, depreciation, and amortization. The pretax result was a loss of $16.49M, establishing the deficit before tax effects. Measured against revenue, the pretax deficit represented 82.6%. An income-tax benefit of $3.08M improved the final result relative to pretax income or loss. The net loss equaled 68.6% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 40.1%, placing the bottom-line deficit against the company’s resource base. The bottom-line deficit increased from $4.97M in fiscal 2025 to $11.62M.

Liquidity and Capital Structure

Total assets were $28.99M, supported by $12.04M of liabilities and $16.94M of shareholder equity. Current assets were $10.65M against $7.26M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.47x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $478.04K, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 6.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The equity-to-assets relationship was 58.4%, placing book capital against the total resource base. The liabilities-to-assets relationship was 41.6%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 1.6% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 18.7% lower than fiscal 2025 assets of $35.64M, measuring the company’s own balance-sheet change. Book equity was 7.3% lower than fiscal 2025 equity of $18.28M, showing how shareholder capital changed year over year. The reported cash balance changed 73.1% from $1.77M in fiscal 2025, ending lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $163.47K, rather than cash generation from operations. Negative free cash flow was $163.47K, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -0.8%, reflecting a cash deficit equal to 0.8% of revenue after capital spending. The free-cash-flow deficit equaled 0.6% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Jun 30, 2026. Analysis generated Oct 21, 2026.