Ispire Technology Inc. Increases Fourth Quarter 2023 Revenue Outlook for Cannabis Vaping Hardware
29 Junho 2023 - 9:35AM
Ispire Technology Inc. (“Ispire” or “the Company”) (NASDAQ: ISPR),
a leader in vapor technology, providing high-quality, innovative
products with first-class performance, announced today that its
fourth quarter 2023 revenue outlook for its cannabis vaping
hardware would be on the upper end of the previously projected
range of $12 million to $15 million. The Company’s fiscal fourth
quarter and full year 2023 ends on June 30, 2023.
“While we had already anticipated a strong
finish in the fourth quarter, our revenue from our cannabis vaping
hardware will reach the upper end of the previously projected
range, representing a very robust growth from the third quarter. We
attribute our success to the market acceptance of our cannabis
vaping technology, which is contributing to product orders for both
medical and recreational usage,” said Michael Wang, CFO of
Ispire.
Ispire commenced marketing cannabis vaping
hardware in mid-2020. The updated revenue projection from cannabis
vaping hardware for the fourth quarter of 2023 is at $14 million to
$15 million, on the upper end of the previous projection of $12
million to $15 million. The updated range represents year-over-year
growth of 247% to 271% from the fourth quarter 2022, and represents
sequential growth of 84% to 98%.
Additionally, Ispire is projecting a fourth
quarter total revenue at $29 million to $31 million, representing
growth of 33% to 42% from the fourth quarter of 2022.
About Ispire Technology
Inc.
Ispire is engaged in the R&D, design,
commercialization, sales, marketing and distribution of branded
e-cigarettes and cannabis vaping products. The Company has or
licenses from a related party more than 200 invention/design
patents received or filed globally. Ispire’s tobacco products are
marketed under the Aspire brand name and are sold worldwide (except
in the PRC and Russia) primarily through our distribution network.
Ispire’s cannabis products are marketed under the Ispire brand name
primarily on an original design manufacturer (ODM) basis to other
cannabis vapor companies. Ispire currently sells its cannabis
vaping hardware only in the United States, and it recently
commenced marketing activities in Canada and Europe, primarily in
the European Union.
Please visit www.ispiretechnology.com and follow
us on Facebook, Twitter, Instagram, LinkedIn, Pinterest, and
YouTube. Any information contained on, or that can be accessed
through, the Company’s website, any other website or any social
media, is not a part of this press release.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that are intended to be covered by the safe
harbor created by those sections. Forward-looking statements, which
are based on certain assumptions and describe the company’s future
plans, strategies and expectations, can generally be identified by
the use of forward-looking terms such as “believe,” “expect,”
“may,” “will,” “should,” “would,” “could,” “seek,” “intend,”
“plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,”
“future,” “likely” or other comparable terms, although not all
forward-looking statements contain these identifying words. All
statements other than statements of historical facts included in
this press release regarding the company’s strategies, prospects,
financial condition, operations, costs, plans and objectives are
forward-looking statements. Important factors that could cause the
Company’s actual results and financial condition to differ
materially from those indicated in the forward-looking statements.
Such forward-looking statements include, but are not limited to,
risks and uncertainties including those regarding: the Company’s
business strategies, the results of the Company’s operations based
on its audited financial statements for the year ended June 30,
2023, plans and prospects and the risk and uncertainties described
in “Risk Factors,” “Management’s Discussion and Analysis of
Financial Condition and Results of Operations,” “Special Note
Regarding Forward-Looking Statements” and the additional risk
described in Ispire’s prospectus dated April 3, 2023 and in
“Management’s Discussion of Financial Condition and Results of
Operations” in the Company’s Form 10-Q quarterly report for the
quarter and nine months ended March 31, 2023. You should not rely
upon forward-looking statements as predictions of future events.
The forward-looking statements made in the prospectus relate only
to events or information as of the date on which the statements are
made in the prospectus. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events except as required by law. You should read
this press release with the understanding that our actual future
results may be materially different from what we expect.
Investor Relations
Contact:Raphael
Gross203.682.8253ir@ispiretechnology.com
Ispire Technology (NASDAQ:ISPR)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Ispire Technology (NASDAQ:ISPR)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024