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    Thierry Wuilloud • Water Tower Research

    Thierry Wuilloud's questions to iPower Inc (IPW) leadership

    Thierry Wuilloud's questions to iPower Inc (IPW) leadership • Q2 2025

    Question

    Thierry Wuilloud of Water Tower Research inquired about product sales seasonality, the rationale for shuttering the commercial hydroponics business, the growth and partner pipeline for the SuperSuite platform, and the impact of Amazon potentially reducing its first-party (1P) vendor relationships.

    Answer

    CEO Chenlong Tan explained the hydroponics closure is part of a strategic transition to a multi-category services provider via the SuperSuite platform, which now contributes about 20% of sales. CFO Kevin Vassily clarified the closure was specific to the commercial business, not consumer hydroponics, and added that iPower's strong execution has solidified its 1P relationship with Amazon, viewing the broader trend as a potential market share opportunity.

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    Thierry Wuilloud's questions to iPower Inc (IPW) leadership • Q4 2024

    Question

    Thierry Wuilloud asked about the nature of the new manufacturing partners in Vietnam and requested an update on the performance of different product categories.

    Answer

    The executives clarified that the Vietnam partner is a new manufacturer, separate from existing Chinese partners who may also be moving operations. Regarding product categories, they are focusing on hard lines like home, pet, and furniture, with growth expected in those areas as well as electronics. The hydroponics category has become a much smaller and less significant part of the business due to weak overall market demand, and it is not expected to be a major growth driver going forward. The company's core strength and future growth lie in its technology platform's ability to efficiently manage and sell products across various categories.

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    Thierry Wuilloud's questions to iPower Inc (IPW) leadership • Q4 2024

    Question

    Thierry Wuilloud asked for clarification on the new manufacturing partners in Southeast Asia, specifically if they were new entities or existing partners relocating. He also requested color on the performance of specific product categories and whether the sales mix had changed since the previous quarter.

    Answer

    CEO Chenlong Tan confirmed the Vietnam partner is a new manufacturer. He elaborated on product categories, stating the company continues to focus on hard lines like home, pet, and furniture, with hydroponics now representing a less significant portion of sales. He expects future growth to come from home, furniture, pets, and electronics. CFO Kevin Dean Vassily added that the broader market demand for hydroponics has not been strong, and while iPower's business in that category is profitable, it is not expected to be a primary growth driver going forward.

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    Thierry Wuilloud's questions to Gaia Inc (GAIA) leadership

    Thierry Wuilloud's questions to Gaia Inc (GAIA) leadership • Q3 2024

    Question

    Thierry Wuilloud asked for details on the mechanics of the price increase implementation, specifically regarding member consent, and questioned how live events are leveraged to drive membership growth and marketing efforts, requesting any available attendance metrics.

    Answer

    James Colquhoun (executive) explained that the price increase is being rolled out in 'non-consent' countries first, where members are notified 30 days prior to the automatic increase, with 'consent' countries requiring a larger development lift to be addressed in 2025. He described live events as key promotional tools that build community and tangibility, driving upgrades and new memberships. While not providing specific numbers for recent events, he noted the premium tier is growing 3-4x faster than the overall member base and referenced a past event that drew over 52,000 unique live stream attendees.

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