iPower (IPW) Q4 2026 earnings summary

Executive summary

• FY26 results contracted sharply amid fewer Amazon orders, product-supply disruption, tariff uncertainty and the February 2026 divestiture of GPM and its subsidiaries.

• Strategic priorities shifted from passive digital-asset accumulation toward AI infrastructure acquisition, financing, equipment leasing and related operating opportunities.

Financial highlights

• Revenue was $19.96M, down 68.4% YoY; product sales fell to $18.42M and service income to $1.53M.

• Gross profit was $4.04M, down 85.2%; gross margin was 20.2% vs. 43.3% in FY25, while product-sales margin was 20.8% vs. 45.6%.

• Operating loss widened to $14.43M from $6.33M; net loss attributable to shareholders was $11.62M vs. $4.97M.

• Basic and diluted loss per share was $345.16 vs. $341.28 loss in FY25; all per-share figures reflect the reverse splits.

• Operating cash use was $163K vs. $579K; investing cash use was $4.68M and financing cash provided was $6.54M.

Outlook and guidance

• Management expects sufficient liquidity for at least 12 months, based on operations, cash, $4.7M of post-year-end financing proceeds and up to $15M of optional facility capacity, subject to conditions.

• Cost reductions and restructuring are expected to reduce future cash requirements; FY27 net lease payments are estimated at $0.8M, alongside monthly interest on convertible notes.

• Capital-allocation focus is AI infrastructure and related operating opportunities; digital-asset purchases are not automatic or recurring, and BTC may be retained, reduced or sold.