E-commerce services provider iPower's Q2 revenue falls after shift to US-based sourcing

Reuters

Feb 21

E-commerce services provider iPower's <a href="https://laohu8.com/S/QTWO">Q2</a> revenue falls after shift to US-based sourcing

Overview

Supply chain provider's fiscal Q2 revenue fell due to U.S.-based sourcing transition
Company reported stable gross margin at 44% despite lower revenue
Company authorized $2 mln share repurchase program after divesting GPM

Result Drivers

SUPPLY CHAIN RESTRUCTURING - iPower's revenue decline was due to a shift to U.S.-based sourcing, reducing purchase volumes and pausing certain SKUs
OPERATING EXPENSES - Operating expenses fell 28% year-over-year due to personnel reductions and tighter expense controls

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue		$7.10 mln
Q2 Net Income		-$1.20 mln
Q2 Gross Margin		44.00%
Q2 Gross Profit		$3.10 mln
Q2 Operating Expenses		$5.60 mln

Press Release: ID:nGNX6vyhTX

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}