ISPR News & Events

Sees Q2 revenue $20.3M vs. $41.8M last year. "This quarter represented an inflection point for Ispire during its yearlong cost cutting and customer quality rationalization efforts and we believe future quarters will see top line growth, consistent cash flows and bottom-line improvement. We are confident we have laid a solid foundation for future success," commented Michael Wang, Co-CEO of Ispire. "During the second quarter of fiscal 2026, we maintained our focus on prioritizing high-quality revenue, and reinforcing our disciplined and intentional approach to sustainable growth. This was particularly evident in our efforts to reduce net accounts receivable, which continues to have strong success. Over the second fiscal quarter we reduced net accounts receivable by 19.5% to $37.9M, compared to $47.0M at the end of FY25."

Ispire Technology announced that its Malaysian subsidiary, Ispire Malaysia Sdn Bhd, reaffirmed its strict compliance with all applicable Malaysian laws and regulations. This clarification follows recent media reports and public interest concerning the company's manufacturing activities in Malaysia. Ispire Malaysia confirms that all manufacturing activities at its facility in Johor are exclusively for export purposes and do not involve the production or distribution of any nicotine- or cannabis-containing liquids or gels within Malaysia and for export. "Ispire Malaysia operates under stringent procedures to ensure all manufacturing is 100% export-oriented," said Michael Wang, Co-CEO of Ispire Technology Inc. "We believe our operations fully comply with Malaysian law, and we are committed to transparency and regulatory cooperation at both federal and state levels."

Ispire Technology has received the interim license from the Malaysian Government for the manufacturing of nicotine products. This is the first and only nicotine manufacturing license issued in Malaysia approved by both the Federal and State authorities. The approval of the interim license also allows the company to begin manufacturing nicotine products in Malaysia immediately, as well as officially begin marketing its nicotine manufacturing capabilities externally.

Ispire Technology announced the appointment of Jie "Jay" Yu as the new CFO of the company, effective immediately, following the departure of Jim McCormick, the former CFO of the company. Ispire also announced that it continued to further streamline its overall operations as the company reduced its workforce and ended several contractor agreements, resulting in a reduction of $3.6M in annual payroll in May 2025. Ispire will also look to cut up to an additional $6.6M in operating expenses over the next three months, bringing the total estimated annual operating expenses cut to $10.2M during the company's fiscal year of 2025. Yu has served as the company's Vice President of Finance since June 2023 and is a seasoned accounting professional with extensive experience in public accounting and audit roles.