2FIRSTS | Ispire Q4 Revenue Rebounds 33% but Full-Year Sales Still Fall 25% as FY2027 Focus Shifts to Malaysia Manufacturing, ODM, Nicotine Pouches and Age Verification
Ispire's FY2026 revenue fell 24.7% to about $96 million despite a 32.5% Q4 rebound, with FY2027 priorities on Malaysia manufacturing and ODM.Summary
Ispire Technology reported FY2026 revenue of about $96 million, down 24.7% year over year, as U.S. cannabis-vapor hardware and European e-cigarette sales declined by $17.4 million and $12.7 million, respectively. Fourth-quarter revenue rose 32.5% to $26.7 million, while quarterly gross margin fell to 6.3%. Full-year gross margin declined to 12.8% from 17.8%, and the net loss narrowed to $33.2 million. For FY2027, the company is prioritizing Malaysia manufacturing and vapor ODM while continuing to develop nicotine pouches, IKE Tech age-verification technology and G-Mesh licensing. Ispire has not separately disclosed the revenue or profit contribution of those newer businesses, and it said continued investment in its Malaysia facility has made the timing of cash-flow breakeven less certain.
(Source：2firsts.com)
