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

Reuters
02/21
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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