Ispire Technology Inc.
- Open
- 1.13
- Day high
- 1.13
- Day low
- 1.07
- Prev close
- 1.12
- Volume
- 19K
- Mkt cap
- $63M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -3.9
- P/S
- 0.7
- Yield
- —
- Per share
- —
Ispire Technology Inc. (ISPR) is a Consumer Defensive company listed on NASDAQ. The stock is down 65% over the past year.
Ispire Technology Inc. (ISPR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ISPR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.02 | $-0.17 | -750.0% | $19M | -17.3% |
| Feb 6, 2026 | $-0.01 | $-0.12 | -1100.0% | $20M | -43.2% |
| Nov 6, 2025 | $-0.10 | $-0.06 | +40.0% | $30M | -7.5% |
| Sep 15, 2025 | $-0.14 | $-0.26 | -85.7% | $20M | -56.7% |
| May 9, 2025 | $-0.12 | $-0.19 | -58.3% | $26.2B | +62858.5% |
| Feb 7, 2025 | $-0.07 | $-0.14 | -100.0% | $42M | +23.3% |
| Sep 26, 2024 | $-0.10 | $-0.06 | +40.0% | $37M | +9.0% |
| May 14, 2024 | $-0.06 | $-0.11 | -83.3% | $30M | -32.6% |
| Feb 20, 2024 | $-0.01 | $-0.07 | -799.7% | $42M | -13.2% |
| Nov 14, 2023 | — | $-0.03 | — | $43M | +19.1% |
| Sep 19, 2023 | — | $0.01 | — | $33M | — |
| May 16, 2023 | — | $-0.06 | — | $24M | — |
ISPR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 19, 2026 | Cox Brentdirector | Grant | 35,526 | — |
| Mar 19, 2026 | Fargis Johndirector | Grant | 35,526 | — |
| Mar 19, 2026 | Burch Christopher Robertdirector | Grant | 35,526 | — |
| Mar 2, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 1,737 | $2.37 |
| Mar 2, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 916 | $2.44 |
| Mar 2, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 984 | $2.38 |
| Mar 2, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 1,163 | $2.41 |
| Mar 2, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 100 | $2.38 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 1,041 | $2.21 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 100 | $2.39 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 1,900 | $2.41 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 2,000 | $2.30 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 916 | $2.36 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 1,084 | $2.34 |
| Feb 26, 2026 | Wang Michael Xueofficer: Co-Chief Executive Officer | Buy | 959 | $2.21 |
Source: ISPR SEC Form 4 filings, latest Mar 19, 2026. For informational purposes only — not investment advice.
See the full ISPR insider & 13F page →Ispire Technology Inc. company profile
Overview
Ispire Technology Inc. (NASDAQ:ISPR) is a Los Angeles-based manufacturer of vaping hardware and devices founded in 2019. The company went public in April 2023 and operates as a subsidiary of Pride Worldwide Investment Limited. Ispire specializes in producing e-cigarettes and cannabis vaping products, serving both the tobacco and cannabis industries with hardware solutions and proprietary technologies.
Business
Ispire Technology operates in the vaping hardware manufacturing industry, producing devices for both tobacco and cannabis consumption. The company's business is divided into two primary segments that generate distinct revenue streams. Cannabis Hardware Segment represents approximately 40% of total revenue and focuses on manufacturing vaping devices specifically designed for cannabis products. These devices are sold to multi-state operators (MSOs), cannabis brands, and dispensaries who use them to package and sell cannabis concentrates and oils to consumers. The company's flagship innovation in this segment is the Ispire ONE technology, which features capless, bottom-filling capabilities that simplify the filling process for cannabis producers. Tobacco Vaping Products Segment accounts for roughly 60% of revenue and manufactures e-cigarettes and nicotine vaping devices. These products include disposable e-cigarettes, refillable vaping systems, and associated hardware components. The company produces both white-label products for other brands and its own branded products, including collaborations with celebrities such as the BRKFST-branded products featuring Burna Boy. The vaping industry serves as an alternative to traditional smoking methods, with devices that heat liquid solutions (containing nicotine, cannabis extracts, or other substances) to create vapor for inhalation. Vaping hardware manufacturers like Ispire provide the physical devices and technology platforms that enable this consumption method, while other companies typically handle the actual substances being vaporized.
Revenue model
Ispire generates revenue primarily through product sales of vaping hardware to business customers. The company operates a B2B model, selling devices to cannabis operators, tobacco companies, distributors, and retail brands who then either fill the devices with their products or resell them to end consumers. Revenue streams include direct hardware sales, licensing agreements, and manufacturing partnerships. The company has secured multi-year exclusive agreements, such as a 5-year manufacturing and distribution deal with BrkFst, which provides predictable revenue visibility. Additionally, Ispire earns revenue from joint ventures, including its collaboration with Berify for blockchain-based age verification technology. The company's margins are influenced by several key factors. Manufacturing location significantly impacts profitability, as the company has been transitioning production from China to a new Malaysian facility to improve gross margins and reduce costs. Product mix also affects margins, with cannabis hardware generating higher gross margins (27.4%) compared to tobacco vaping products (15.8%). Scale and customer concentration influence pricing power, as larger orders from major MSOs and brands typically command better terms. External factors affecting margins include regulatory changes in various jurisdictions, raw material costs, and shipping expenses. The company faces seasonal fluctuations due to Chinese New Year factory shutdowns and must navigate evolving regulations in both cannabis and tobacco markets. Competition from other hardware manufacturers and potential technological disruption also pressure margins, while successful PMTA (Pre-Market Tobacco Product Application) approvals could open new revenue opportunities in regulated U.S. nicotine markets.
Competitive moat
Ispire's competitive position relies primarily on technological innovation and manufacturing capabilities rather than a strong economic moat. The company's Ispire ONE technology, featuring capless and bottom-filling capabilities, provides some differentiation in the cannabis hardware market by addressing operational pain points for cannabis producers. However, this technological advantage appears relatively narrow and potentially replicable by competitors. The company benefits from established relationships with multi-state operators and cannabis brands, along with exclusive manufacturing agreements that provide some customer stickiness. The transition to Malaysian manufacturing operations offers potential cost advantages and quality certifications (ISO and GMP) that may differentiate Ispire from purely Chinese-manufactured competitors. However, the overall moat appears relatively weak. The vaping hardware industry has low barriers to entry, with numerous manufacturers capable of producing similar products. Ispire faces competition from both established players and new entrants, particularly in the commoditized tobacco vaping segment. The company's reliance on B2B customers means it has limited direct consumer brand recognition or loyalty. Additionally, regulatory risks in both cannabis and tobacco markets could rapidly change competitive dynamics, while technological shifts in vaping could potentially obsolete current product lines. The company's recent IPO status and limited operating history further constrain its ability to establish sustainable competitive advantages.
Risks & safety
The margin of safety appears concerning based on current financial metrics and cash flow patterns. • Cash burn and solvency: $34.4 million cash position with negative $3.2 million operating cash flow in Q2 2024, though the company raised $12.3 million in a recent public offering • Debt levels: Relatively low debt-to-equity ratio of 0.0001, indicating minimal debt burden • Current liquidity: Current ratio of 1.06 suggests tight working capital management with current assets barely exceeding current liabilities • Profitability: Consistently negative net income with -$8.0 million loss in Q2 2024 and negative EBITDA of -$6.8 million • Valuation metrics: Negative price-to-earnings ratio due to losses, though P/B ratio of 0.012 suggests potential asset value • Other considerations: Recent IPO company still achieving scale, targeting breakeven in September 2024 quarter, facing $5 million in upcoming PMTA application fees
Recent development
Over the past two years, Ispire has pursued several strategic initiatives to diversify its revenue base and improve operational efficiency. The company opened a new Malaysian manufacturing facility with ISO and GMP certifications, aiming to transition the majority of production away from China to improve gross margins and reduce costs. In the cannabis segment, Ispire developed and launched its Ispire ONE technology featuring capless, bottom-filling capabilities designed to streamline the filling process for cannabis producers. The company has been actively negotiating with major multi-state operators, including potential deals worth $20 million annually with Chicago-based and California-based operators. The tobacco segment has seen expansion through celebrity brand partnerships, notably the BRKFST-branded collaboration with Burna Boy, and a 5-year exclusive manufacturing agreement with BrkFst. The company is also pursuing PMTA applications with the FDA to enter the regulated U.S. nicotine market, representing a significant regulatory and market expansion opportunity. Ispire has formed strategic partnerships including a joint venture with Berify and Chemular for blockchain-based age verification technology, and a collaboration with Acreage Holdings to expand Ispire ONE technology adoption. The company completed a $12.3 million public offering to fund growth initiatives and working capital needs. Management has focused on improving accounts receivable management and implementing stricter deal desk processes to enhance cash flow generation.
ISPR company profile · for informational purposes only — not investment advice.
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