Ispire Technology Inc. Reports Financial Results for Fiscal Third Quarter 2026

Cash Increased Sequentially by $468,000 to $18 Million

Plans to Achieve Cash Flow Positive in Second Half of Calendar Year 2026

Business Stabilized Following Strategic Repositioning

Phased Roadmap Targets Billions in Addressable Market, Including ~$73B Global Vape, ~$50–70B U.S. Flavored Vape, and $24B+ Global G-Mesh Glass Technology

LOS ANGELES, May 7, 2026 /PRNewswire/ — Ispire Technology Inc. (Nasdaq: ISPR) (“Ispire,” the “Company,” “we,” “us,” or “our”), an innovator in vaping technology and precision dosing, today reported financial results for the third quarter of fiscal 2026, for the three months ended March 31, 2026.

Michael Wang, Co-Chief Executive Officer of Ispire, commented, “This quarter reflects the successful stabilization of our business and with cash growing sequentially by $468,000 to $18 million, we are now executing against a phased roadmap, with near-term revenue drivers already in production and transformative technology opportunities on the horizon:

• Our Malaysia manufacturing is live today, giving us a 25% tariff advantage over China in a ~$73B global vape market.
  • Supply of nicotine pouches to global customers commenced in April 2026.
• Vapor ODM launches in July 2026 for mid-sized brands, with large brand partnerships targeted for 2027.
• Looking further ahead (2027 and beyond):
  • Age-gating technology through IKE Tech has the potential to unlock the ~$50–70B US flavored vape market
  • G-Mesh glass technology is already drawing interest from big tobacco in a $24B+ legal global market.

“With cash generation this quarter and proprietary technologies in age-gating and G-Mesh that no competitor can replicate, we have multiple shots on goal across billion-dollar markets, and we believe Ispire is uniquely positioned to deliver outsized value for shareholders.”

Multiple Growth Catalysts, Each Backed by a Massive Addressable Market

Financial Results for the Fiscal Third Quarter Ended March 31, 2026

• Revenue was $18.7 million, compared to $26.2 million in the third quarter of fiscal 2025 and $20.3 million in the prior sequential quarter. The sequential decline of $1.6 million, or 8%, represents the smallest second-to-third quarter decline in the Company’s history, reflecting the typical seasonal impact of Chinese New Year-related factory shutdowns. The year-over-year decline reflects the Company’s continued strategic shift away from lower-quality cannabis revenue toward regulated nicotine delivery and compliance technologies. Overall, the business continues to stabilize.
• Gross profit of $2.0 million compared to $4.8 million for the third quarter of fiscal 2025 and $3.5 million in the prior sequential quarter. Gross margin was impacted by approximately $2.2 million in one-time product returns from legacy cannabis customers with whom the Company has ceased doing business. Gross margin of 10.7% compared to 18.2% for the third quarter of fiscal 2025, is primarily attributable to the approximately $2.2 million one-time product returns from legacy cannabis customers with whom the Company has ceased doing business.
• Total operating expenses excluding bad debt expense of $5.9 million, a 36% reduction when compared to operating expenses of $9.3 million for the third quarter of fiscal 2025, and a 3.7% reduction when compared to operating expenses of $6.1 million in the prior sequential quarter. Bad debt expense was $5.6 million, which is $0.5 million less than the third quarter of fiscal 2025 and $1.4 million more than the prior quarter.
• Net loss of $9.5 million or ($0.17) per share, a 12.3% decrease, compared to net loss of $10.9 million, or ($0.19) per share, in the third quarter of fiscal 2025, and a 44.4% increase compared a net loss of $6.6 million in the prior sequential quarter.
• Cash: At March 31, 2026, the Company held cash of $18.0 million and working capital of $0.9 million.

The Company will conduct a conference call at 8 am ET on Friday, May 7, 2026, to discuss the results, followed by a Q&A session.

To listen to the conference call, please dial in using the information below. When prompted upon dialing-in, please ask for the “Ispire Technology Call.”

• Date: Thursday, May 7, 2026
• Time: 8:00 am ET
• Dial-In Numbers: United States 844-826-3033 or International + 1-412-317-5185

This conference call will be webcast live and can be accessed by all interested parties at https://viavid.webcasts.com/starthere.jsp?ei=1761477&tp_key=3958311007

Please access the link at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software.

A playback will be available until 11:59 pm ET on Friday, May 21, 2026. To listen, please dial 1-844-512-2921 or 1-412-317-6671. Use the passcode 10208863 to access the replay.

About Ispire Technology Inc.

Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company’s operating subsidiaries own or license more than 400 patents worldwide. Ispire’s branded e-cigarette products are marketed under the Aspire name and are sold worldwide (except in the U.S., People’s Republic of China and Russia) primarily through its global distribution network. The Company also engages in original design manufacture (ODM) relationships with e-cigarette brands and retailers worldwide. The Company’s cannabis products are marketed under the Ispire brand name primarily on an ODM basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware in the US, Europe and South Africa and it recently commenced marketing activities and customer engagement in Canada and Latin America. For more information visit www.ispiretechnology.com or follow Inspire on Instagram, LinkedIn, Twitter and YouTube.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: whether the Company may be successful in re-entering the U.S. ENDS market; the approval or rejection of any PMTA submitted by the Company; whether the Company will be successful in its plans to further expand into the African market; whether the Company’s joint venture with Touch Point Worldwide Inc. d/b/a/ Berify and Chemular Inc. (the “Joint Venture”) may be successful in achieving its goals as currently contemplated, with different terms, or at all; the Joint Venture’s ability to innovate in the e-cigarette technology space or develop age gating or age verification technologies for nicotine vaping devices; the Company’s ability to collect its accounts receivable in a timely manner; the Company’s business strategies; the ability of the Company to market to the Ispire ONE™; Ispire ONE™’s success in meeting its goals; the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of its products on the markets; the Ispire ONE™ proving to be safe; and the risk and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Ispire’s Annual Report on Form 10-K for the year ended June 30, 2025 and any subsequent filings which Ispire makes with the SEC. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by applicable law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

HAYDEN IR:
James Carbonara
(646)-755-7412
[email protected]

Brett Maas
(646) 536-7331
[email protected]