Ispire Technology
Designs nicotine devices, cannabis vapor hardware, and compliance-linked ODM platforms.
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Profile
Sells Aspire nicotine products outside key restricted markets and Ispire cannabis hardware to vapor companies. ODM manufacturing, smart-chip controls, age verification, and regulatory submissions are central as the business shifts toward regulated nicotine and higher-quality customers.
Builds branded and non-branded vapor hardware across core lines: Aspire nicotine products and Ispire cannabis devices. Nicotine products are sold globally where permitted outside several restricted markets, while cannabis hardware is mainly supplied through ODM relationships to vapor companies.
The operating model is moving toward regulated nicotine infrastructure, combining vaporization cores, embedded firmware, smart-chip control, biometric age verification, traceability, and ODM manufacturing. Revenue is weighted toward Europe, with North America the next-largest region and smaller Asia-Pacific and other markets.
Execution depends on regulatory clearance for electronic nicotine delivery systems, PMTA activity, customer-quality discipline, and manufacturing expansion in Malaysia. Related-party ties to Aspire Global remain part of the issuer's governance structure.
Company facts
Key statistics
Year to date −50.3% · Average volume (30d) 24.9K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| May 7, 2026Q3 FY26 | −$0.02 | −$0.17 | −750.0% | $22.6M | $18.7M | −17.3% | −5.95% |
| Feb 6, 2026Q2 FY26 | −$0.01 | −$0.12 | −1,100.0% | $32.8M | $20.3M | −38.2% | −2.67% |
| Nov 6, 2025Q1 FY26 | −$0.10 | −$0.06 | +40.0% | $32.8M | $30.4M | −7.5% | −8.54% |
| Sep 15, 2025Q4 FY25 | −$0.14 | −$0.26 | −85.7% | $46.5M | $20.1M | −56.7% | −5.25% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $41.8M | $26.2M | $20.1M | $30.4M | $20.3M | $18.7M | |
| Gross profit | $7.7M | $4.8M | $2.5M | $5.1M | $3.5M | $2.0M | |
| Operating income | −$7.4M | −$10.6M | −$14.6M | −$2.7M | −$6.9M | −$9.5M | |
| Net income | −$8.0M | −$10.9M | −$14.8M | −$3.3M | −$6.6M | −$9.5M | |
| Diluted EPS | −$0.14 | −$0.19 | −$0.26 | −$0.06 | −$0.12 | −$0.17 | |
| Gross margin | 18.5% | 18.2% | 12.3% | 17.0% | 17.1% | 10.7% | |
| Operating margin | -17.6% | -40.4% | -72.7% | -8.9% | -33.9% | -50.8% |
Fiscal years (4-quarter sums)FY22 $88.1M · FY23 $115.6M · FY24 $151.9M · FY25 $127.5M
Revenue by geography · Q3 FY26
Balance sheet, Mar 31, 2026Cash & short-term investments $18.0M · Total debt $4.9M · Total assets $75.9M · Shareholders' equity −$16.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 57.40M · Float 19.55M · 34.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Yong Rong (HK) Asset Management Ltd | 1.50M | 2.62% | 13F | May 5, 2026 |
| Michael Xue Wang · officer: Co-Chief Executive Officer | 1.46M | 2.55% | Form 4 | Mar 2, 2026 |
| BlackRock, Inc. | 1.26M | 2.19% | 13F | May 13, 2026 |
| Geode Capital Management, LLC | 496.5K | 0.86% | 13F | May 15, 2026 |
| Steven P. Pryzbyla · officer: CLO and Secretary | 390.7K | 0.68% | Form 4 | Feb 17, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 27, 2026 | Michael Xue Wang | officer: Co-Chief Executive Officer | +2,000 | $2.41 |
| Mar 2, 2026 | Michael Xue Wang | officer: Co-Chief Executive Officer | +3,000 | $2.38 |
| Feb 24, 2026 | Michael Xue Wang | officer: Co-Chief Executive Officer | +2,000 | $2.21 |
| Feb 25, 2026 | Michael Xue Wang | officer: Co-Chief Executive Officer | +4,000 | $2.33 |
| Feb 26, 2026 | Michael Xue Wang | officer: Co-Chief Executive Officer | +2,000 | $2.40 |
Peers
- British American Tobacco (ADR)
Vuse and New Categories scale pressure in regulated nicotine
- RELX Technology (ADR)
RELX branded e-vapor devices with in-house product development
- Altria Group
NJOY e-vapor and FDA-authorized smoke-free portfolio rival
- Philip Morris International
IQOS, VEEV, and ZYN compete for smoke-free nicotine users
- Canopy Growth
Storz & Bickel and cannabis vape brands overlap in vapor hardware
- Greenlane
Cannabis vapor accessories and distribution-channel overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ispire Technology | $1.41 | −0.70% | $81.5M | — | — | 0.9 | −99.9% |
| British American Tobacco (ADR) | $56.13 | +0.02% | $121.07B | 13.9 | — | 3.5 | −0.1% |
| RELX Technology (ADR) | $1.83 | −0.27% | $2.24B | 16.2 | — | 3.4 | +34.3% |
| Altria Group | $68.70 | +0.09% | $114.63B | 14.5 | 11.9 | 5.2 | +1.3% |
| Philip Morris International | $191.85 | −0.01% | $299.08B | 27.6 | 22.0 | 7.0 | +10.4% |
| Canopy Growth | $0.9900 | −1.88% | $421.9M | — | — | 0.8 | +8.4% |
| Greenlane | $2.77 | +2.74% | $525.7K | — | — | 0.2 | −73.4% |
| Median | 15.3 | 17.0 | 3.4 | +4.8% |