IPW · Ipower Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $66.14M | $86.07M | $88.90M | $79.42M | $39.94M |
| Cost of Revenue | $37.15M | $46.82M | $54.10M | $46.22M | $24.81M |
| Gross Profit | $28.99M | $39.25M | $34.80M | $33.20M | $15.13M |
| R&D | - | - | - | - | - |
| SG&A | $12.66M | $12.12M | $12.79M | $11.71M | $3.26M |
| Total Operating Expenses | $34.86M | $40.22M | $48.28M | $30.89M | $12.22M |
| D&A | $780.0K | $796.2K | $796.4K | $277.9K | $0 |
| Operating Income | ($5.87M) | ($962.9K) | ($13.48M) | $2.31M | $2.91M |
| Interest Expense | $427.0K | $739.2K | $980.1K | $359.4K | - |
| Income Tax | ($1.25M) | ($251.4K) | ($2.69M) | $559.0K | $773.4K |
| Net Income | ($1.53M) | ($1.53M) | ($11.97M) | $1.52M | $1.99M |
| EPS - Basic | ($38.40) | ($12.00) | ($96.72) | $12.00 | - |
| EPS - Diluted | ($38.40) | ($12.00) | ($96.72) | ($9.60) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.77M | $7.38M | $3.74M | $1.82M | $6.65M |
| Accounts Receivable | $6.12M | $14.74M | $14.07M | $17.43M | $7.90M |
| Inventory | $8.13M | $10.55M | $20.59M | $30.43M | $13.07M |
| Accounts Payable | $7.18M | $11.23M | $13.24M | $9.53M | $3.94M |
| Current Assets | $19.37M | $35.01M | $41.26M | $55.18M | $32.31M |
| Total Assets | $35.64M | $51.30M | $60.09M | $78.58M | $35.64M |
| Current Liabilities | $14.45M | $23.77M | $23.33M | $22.88M | $9.02M |
| Long-term Debt | - | - | - | - | $458.6K |
| Total Liabilities | $17.37M | $28.28M | $39.23M | $46.18M | $10.65M |
| Stockholders' Equity | $18.28M | $23.02M | $20.86M | $32.40M | $24.99M |
| Retained Earnings | ($15.20M) | ($10.23M) | ($8.70M) | $3.26M | $1.75M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | ($579.2K) | $6.16M | $9.21M | ($16.60M) | $1.11M |
| Investing Cash Flow | ($2.04M) | $0 | ($140.8K) | ($139.4K) | ($6.3K) |
| Financing Cash Flow | ($3.00M) | ($2.40M) | ($7.15M) | $11.91M | ($596.6K) |
| CapEx | $163.6K | $0 | $140.8K | $484.2K | $6.3K |
| Free Cash Flow | ($742.8K) | $6.16M | $9.07M | ($17.09M) | $1.10M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 43.8% | 45.6% | 39.1% | 41.8% | 37.9% |
| Operating margin | -8.9% | -1.1% | -15.2% | 2.9% | 7.3% |
| EBITDA margin | -7.7% | -0.2% | -14.3% | 3.3% | 7.3% |
| Net margin | -2.3% | -1.8% | -13.5% | 1.9% | 5.0% |
| Free cash flow margin | -1.1% | 7.2% | 10.2% | -21.5% | 2.8% |
| FCF / Net income | 0.49 | -4.03 | -0.76 | -11.26 | 0.56 |
| R&D / Revenue | - | - | - | - | - |
| SG&A / Revenue | 19.1% | 14.1% | 14.4% | 14.7% | 8.2% |
| Effective tax rate | - | - | - | 26.9% | 28.0% |
| Return on assets | -4.3% | -3.0% | -19.9% | 1.9% | 5.6% |
| Return on equity | -8.4% | -6.6% | -57.3% | 4.7% | 8.0% |
| Return on invested capital | - | - | - | - | 8.2% |
| Liquidity | |||||
| Current ratio | 1.34 | 1.47 | 1.77 | 2.41 | 3.58 |
| Quick ratio | 0.78 | 1.03 | 0.89 | 1.08 | 2.13 |
| Cash ratio | 0.12 | 0.31 | 0.16 | 0.08 | 0.74 |
| Leverage | |||||
| Debt / Equity | - | - | - | - | 0.02 |
| Debt / Assets | - | - | - | - | 0.01 |
| Debt / EBITDA | - | - | - | - | 0.16 |
| Interest coverage | -13.7x | -1.3x | -13.8x | 6.4x | - |
| Equity multiplier | 1.95 | 2.23 | 2.88 | 2.43 | 1.43 |
| Liabilities / Assets | 0.49 | 0.55 | 0.65 | 0.59 | 0.30 |
| Efficiency | |||||
| Asset turnover | 1.86 | 1.68 | 1.48 | 1.01 | 1.12 |
| Inventory turnover | 4.57 | 4.44 | 2.63 | 1.52 | 1.90 |
| Days sales outstanding | 34d | 63d | 58d | 80d | 72d |
| Days inventory outstanding | 80d | 82d | 139d | 240d | 192d |
| Days payable outstanding | 71d | 88d | 89d | 75d | 58d |
| Cash conversion cycle | 43d | 57d | 107d | 245d | 206d |
| Valuation | |||||
| P / E | - | - | - | - | - |
| P / B | 267.2x | 648.0x | 376.0x | 224.3x | - |
| P / S | 73.8x | 173.3x | 88.2x | 91.5x | - |
| EV / EBITDA | - | - | - | 2805.4x | - |
| Growth | |||||
| Revenue growth (YoY) | -23.2% | -3.2% | 11.9% | 98.9% | - |
| Revenue CAGR (3y) | -5.9% | 29.2% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | -26.1% | 12.8% | 4.8% | 119.5% | - |
| Operating income growth (YoY) | -509.2% | 92.9% | - | -20.5% | - |
| Net income growth (YoY) | 0.0% | 87.2% | - | -23.6% | - |
| EPS growth (YoY) | -220.0% | 87.6% | -907.5% | - | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | - | -32.0% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | -20.6% | 10.3% | -35.6% | 29.7% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-30.
Product / service
$66.35M totalProduct$61.52M · 92.7%
Service$4.62M · 7.0%
Fulfillment Services$202.9K · 0.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.52
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Retail-Building Materials, Hardware, Garden Supply
Comparing iPower Inc. against the 4 most active filers in the same SIC group.