iPower Inc. reported a significant decline in financial performance for the three months ended September 30, 2025, with total revenues of $12.0 million, a decrease of 36.8% compared to $19.0 million in the same period last year. The decline was primarily attributed to reduced orders from Amazon and temporary disruptions in product supply. Product sales fell by 42.6% to $10.5 million, while service income increased by 109.1% to $1.5 million, reflecting a shift in revenue sources. The company's gross profit also decreased to $4.8 million, down 43.4% from the previous year, resulting in a gross profit margin of 40.0%.
Operating expenses for the quarter decreased by 42.1% to $6.5 million, driven by cost-cutting measures that included reductions in advertising, merchant fees, and payroll expenses. This led to a loss from operations of $1.7 million, an improvement from the $2.7 million loss reported in the prior year. Other income surged to $697,947, primarily due to a combination of non-operating income from discounted settlements and a decrease in interest expenses. Consequently, the net loss attributable to iPower Inc. narrowed to $533,648, a 73.7% reduction from the $2.0 million loss in the same quarter of 2024.
In terms of operational metrics, iPower's cash and cash equivalents decreased to $903,975 from $2.0 million at the end of June 2025. The company reported a working capital of $4.1 million, down from $4.9 million in the previous quarter. Accounts receivable also saw a decline, totaling $5.1 million, down from $6.1 million, while inventories were reduced to $4.3 million from $8.1 million, indicating a strategic effort to manage stock levels amid fluctuating demand.
Strategically, iPower has been focusing on expanding its product offerings and enhancing its supply chain efficiencies. The company has engaged in various joint ventures, including the establishment of United Package NV, LLC, aimed at producing packaging materials domestically. Additionally, iPower has undergone a restructuring of its corporate structure to streamline operations. The company is also exploring potential acquisitions to bolster its product catalog and improve market positioning.
Looking ahead, iPower anticipates that its existing cash reserves and operational cash flows will be sufficient to meet its obligations over the next 12 months. However, the company acknowledges potential risks from global economic disruptions, particularly related to supply chain challenges and regulatory changes affecting its product markets. iPower plans to continue investing in product and brand development while navigating these uncertainties to enhance its market presence and financial stability.
About iPower Inc.
iPower Inc. is an online retailer and supplier of home, pet, garden, outdoor, and consumer electronics products. It offers proprietary and third-party brands through e-commerce platforms like Amazon, Walmart, and its own websites. The company leverages data-driven marketing, a robust distribution network, and international supply chains to serve consumers and cultivators, competing on product variety, pricing, and customer service in a large, growing industry.
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