Ispire Technology Inc. reported revenue of $26.2 million for the fiscal third quarter ended March 31, 2025, a decrease of 12.7% from $30.0 million in the prior comparable period. For the nine-month period, revenue decreased by 6.3% to $107.4 million, primarily due to reduced sales in North America and the Asia Pacific region, reflecting a strategic shift towards higher-quality customers.
Gross profit for the third quarter was $4.8 million, down from $6.1 million in the year-ago period, with gross margin decreasing to 18.2% from 20.4%. However, for the nine-month period, gross profit increased to $20.2 million, and gross margin improved to 18.8% from 16.8%, driven by changes in product mix.
The company reported a net loss of ($10.9) million, or ($0.19) per share, for the quarter, compared to a net loss of ($5.9) million, or ($0.11) per share in Q3 FY2024. Total operating expenses increased to $15.4 million from $11.8 million. A notable achievement was the reduction of accounts receivable to $60.4 million from $67.7 million, marking the first such decrease in Ispire's history. As of March 31, 2025, Ispire had $23.5 million in cash and cash equivalents and negative working capital of ($2.1) million.
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