Pablo Zuanic

Bo Pei

Nick Anderson

Nicholas Anderson

Scott Fortune

- Ispire Technology Inc. (ISPR) is expanding its manufacturing operations in **Johor, Malaysia**, with a new factory expected to increase gross margins by **15% to 20%** and provide a **10x increase in output volume** to **100 million pods per month**.  **[0001948455_2196078_2]** **[0001948455_2196078_5]**  The company received its nicotine manufacturing license in May.  **[0001948455_2196078_5]** 
- ISPR has developed a proprietary, **Bluetooth/blockchain-based age-gating technology** (IKE Tech) for vaporizers, submitting a U.S. PMTA in **April 2024** which was quickly accepted.  **[0001948455_2196078_1]**  This technology is viewed as a pathway for FDA approval of flavored vapes and is being discussed for mandatory implementation in countries in Southeast Asia and the Middle East, offering significant licensing potential.  **[0001948455_2196078_1]** **[0001948455_2196078_5]** 
- The company is innovating with new products, including **GMASH atomizer technology** and an **IP-defensible pod system** designed to avoid existing patents, particularly JUUL's, aiming to secure a strong position in the regulated nicotine vape market.  **[0001948455_2196078_3]** **[0001948455_2196078_4]** 
- In its cannabis business, ISPR has adjusted payment terms to **100% upfront** for most customers, significantly improving its accounts receivable profile, while continuing to focus on product innovation.  **[0001948455_2196078_6]**

Ispire Technology Outlines Strategic Growth and IP Initiatives

- ISPR, a NASDAQ-traded company specializing in vaping devices, generated **$127 million in revenue** for its last fiscal year ending in June.  **[0001948455_2194293_0]** 
- The company is pursuing FDA approval for its **point-of-use age verification technology**, a blockchain-based chip solution designed to prevent underage access to flavored e-cigarettes.  **[0001948455_2194293_0]** **[0001948455_2194293_1]**  This technology, which demonstrated **100% effectiveness** in trials, was submitted in May and is under **fast-track review** by the FDA, with the potential to be licensed to other tobacco players.  **[0001948455_2194293_1]** **[0001948455_2194293_2]** 
- ISPR is strategically expanding its manufacturing operations in **Malaysia**, where it has secured the nation's **first and only nicotine manufacturer's license**.  **[0001948455_2194293_2]**  This expansion, including plans for an "I Spire Campus," is intended to support future development and manufacturing deals with major tobacco companies outside of China.  **[0001948455_2194293_2]** **[0001948455_2194293_3]** 
- The company has also developed a **glass-based g-mesh technology** for e-cigarettes, offering a safer alternative to ceramic cores, and has **pivoted its cannabis business** to focus on high-quality customers until federal legalization.  **[0001948455_2194293_3]**

ISPR Reports $127 Million in Revenue, Advances Age Verification Technology, and Expands Malaysian Manufacturing

- ISPR, a NASDAQ-traded company, reported **$127 million in revenue** for its last fiscal year ending in June, primarily from developing and manufacturing vaping devices for the global e-cigarette and cannabis/CBD industries.  **[0001948455_2194307_0]** 
- The company is advancing its **point-of-use age-gating technology**, a blockchain-based chip for age verification, with an application submitted to the FDA in May for a "component PMTA".  **[0001948455_2194307_1]** **[0001948455_2194307_2]**  The FDA is reviewing this on a **fast-track basis**, with ISPR planning to license the solution to other tobacco players.  **[0001948455_2194307_2]** 
- ISPR introduced **GMESH technology**, a glass-based wicking mechanism for e-cigarettes, which has attracted attention from major tobacco companies and is being scaled for production in Malaysia.  **[0001948455_2194307_3]** 
- The company is expanding its manufacturing capabilities in **Malaysia**, securing a third factory and holding the country's sole nicotine manufacturing license, partly to address tariff considerations and big tobacco's demand for non-China production.  **[0001948455_2194307_3]** 
- ISPR has **scaled back its cannabis business exposure** since February, now focusing on high-quality customers until federal legalization or rescheduling occurs.  **[0001948455_2194307_3]**

ISPR Highlights Vaping Technology, FDA Engagement, and Manufacturing Expansion

- Ispire Technology Inc. reported a **decline in total revenue** for fiscal year 2025 to **$127.5 million** from **$151.9 million** in fiscal year 2024, primarily due to a strategic pivot away from the cannabis sector towards the higher-value nicotine sector.  **[1948455_2145391_1]** **[1948455_2145391_3]** 
- The company demonstrated improved financial discipline, reducing net accounts receivable by over **21%** year-over-year and cutting annual expenses by an estimated **$10.2 million**.  **[1948455_2145391_1]** 
- Strategic initiatives include expanding Malaysian manufacturing capabilities to potentially **80 production lines** and advancing its international ODM business, which has over **$80 million** in pipeline revenue.  **[1948455_2145391_1]** **[1948455_2145391_4]** 
- The company's ICE-TECH blockchain-based age verification technology achieved a significant milestone with FDA acceptance of its component PMPA submission within an unprecedented **four weeks**.  **[1948455_2145391_1]** **[1948455_2145391_5]**

Ispire Technology Reports Q4 and Full Year 2025 Results, Details Strategic Pivot to Nicotine Sector

- Ispire Technology Inc. reported a **net loss** of **$39.2 million**, or **$0.69 per share**, for the fiscal year ended June 30, 2025, compared to a net loss of $14.8 million, or $0.27 per share, in fiscal year 2024.  **[1948455_20250916NY72442:0]** **[1948455_20250916NY72442:1]** 
- **Revenue** for fiscal year 2025 decreased to **$127.5 million**, down from $151.9 million in fiscal year 2024.  **[1948455_20250916NY72442:0]** 
- **Gross profit** declined to **$22.6 million**, with a gross margin of **17.8%**, in fiscal year 2025, compared to $29.8 million and 19.6% respectively, in fiscal year 2024.  **[1948455_20250916NY72442:0]** **[1948455_20250916NY72442:1]** 
- **Total operating expenses** increased to **$60.5 million** in fiscal year 2025, up from $43.7 million in fiscal year 2024.  **[1948455_20250916NY72442:0]** **[1948455_20250916NY72442:1]**

Ispire Technology (ISPR)