Ispire Technology Inc. Files Q4 2024 10-Q Report
Ticker: ISPR · Form: 10-Q · Filed: Feb 7, 2025 · CIK: 1948455
Sentiment: neutral
Topics: 10-Q, quarterly-report, sec-filing
TL;DR
ISPIRITECH filed its 10-Q for Dec 31, 2024. Check financials.
AI Summary
Ispire Technology Inc. filed its quarterly report on Form 10-Q for the period ended December 31, 2024. The company, incorporated in Delaware with its principal executive offices in Los Angeles, California, is involved in the cigarettes industry. The filing was made on February 7, 2025, under SEC file number 001-41680.
Why It Matters
This 10-Q filing provides investors and analysts with an update on Ispire Technology Inc.'s financial performance and business operations for the quarter ending December 31, 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and business information.
Key Numbers
- 001-41680 — SEC File Number (Identifies the company's filings with the SEC.)
- December 31, 2024 — Quarter End Date (Specifies the period covered by the report.)
- February 7, 2025 — Filing Date (Indicates when the report was submitted to the SEC.)
Key Players & Entities
- Ispire Technology Inc. (company) — Registrant
- 001-41680 (company) — SEC file number
- December 31, 2024 (date) — Quarterly period end date
- February 7, 2025 (date) — Filing date
- Los Angeles, California (location) — Principal executive offices
FAQ
What is the primary business of Ispire Technology Inc.?
Ispire Technology Inc. is primarily involved in the cigarettes industry, as indicated by its Standard Industrial Classification code.
When did Ispire Technology Inc. file its quarterly report?
Ispire Technology Inc. filed its quarterly report on February 7, 2025.
For what period is this 10-Q report?
This 10-Q report is for the quarterly period ended December 31, 2024.
Where are Ispire Technology Inc.'s principal executive offices located?
The principal executive offices of Ispire Technology Inc. are located at 19700 Magellan Drive, Los Angeles, California.
What is the SEC file number for Ispire Technology Inc.?
The SEC file number for Ispire Technology Inc. is 001-41680.
Filing Stats: 4,407 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2025-02-07 16:30:25
Key Financial Figures
- $0.0001 — ich Registered Common Stock, par value $0.0001 per share ISPR The Nasdaq Stock Market
Filing Documents
- ea0229197-10q_ispire.htm (10-Q) — 725KB
- ea022919701ex31-1_ispire.htm (EX-31.1) — 8KB
- ea022919701ex31-2_ispire.htm (EX-31.2) — 8KB
- ea022919701ex32-1_ispire.htm (EX-32.1) — 5KB
- 0001213900-25-011336.txt ( ) — 5245KB
- ispr-20241231.xsd (EX-101.SCH) — 53KB
- ispr-20241231_cal.xml (EX-101.CAL) — 42KB
- ispr-20241231_def.xml (EX-101.DEF) — 256KB
- ispr-20241231_lab.xml (EX-101.LAB) — 468KB
- ispr-20241231_pre.xml (EX-101.PRE) — 273KB
- ea0229197-10q_ispire_htm.xml (XML) — 565KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 1 Item 1.
Financial Statements
Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended December 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and six months ended December 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.
Controls and Procedures
Controls and Procedures 28
- OTHER INFORMATION
PART II - OTHER INFORMATION 29 Item 1.
Legal Proceedings
Legal Proceedings 29 Item 1A.
Risk Factors
Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults upon Senior Securities 29 Item 4. Mine and Safety Disclosure 29 Item 5. Other Information 29 Item 6. Exhibits 30 i
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This report contains forward-looking "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under Part I, Item 1A, "Risk Factors" and Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Form 10-K for the fiscal year ended June 30, 2024, as well as the headings "Risks Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Form 10-Q and in other reports that we file with the U.S. Securities and Exchange Commission (the "SEC"). You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC's
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
- Financial Statements
ITEM 1 - Financial Statements ISPIRE TECHNOLOGY INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In $USD, except share and per share data) December 31, 2024 June 30, 2024 Assets Current assets: Cash $ 34,372,851 $ 35,071,294 Restricted cash 22,535 - Accounts receivable, net 67,700,463 59,734,765 Inventories, net 7,900,110 6,365,394 Prepaid expenses and other current assets 2,324,245 1,400,152 Total current assets 112,320,204 102,571,605 Non-current assets: Property, plant and equipment, net 2,365,115 2,582,457 Intangible assets, net 2,120,367 1,375,666 Right-of-use assets – operating leases 2,949,756 3,579,140 Other investment 2,000,000 2,000,000 Equity method investment 10,071,380 10,248,048 Other non-current assets 215,612 284,050 Total non-current assets 19,722,230 20,069,361 Total assets $ 132,042,434 $ 122,640,966 Liabilities and stockholders' equity Current liabilities Accounts payable $ 5,156,302 $ 3,779,723 Accounts payable – related party 86,375,645 67,046,472 Contract liabilities 1,882,743 2,218,166 Accrued liabilities and other payables 11,576,021 11,738,339 Operating lease liabilities – current portion 1,245,061 1,207,832 Total current liabilities 106,235,772 85,990,532 Non-current liabilities: Operating lease liabilities – net of current portion 1,572,574 2,194,094 Total liabilities 107,808,346 88,184,626 Commitments and contingencies Stockholders' equity: Common stock, par value $ 0.0001 per share; 140,000,000 shares authorized; 56,677,982 and 56,470,636 shares issued and outstanding as of December 31, 2024 and June 30, 2024 5,668 5,647 Preferred stock, par value $ 0.0001 per share, 10,000,000 shares authorized, no shares issued at December 31, 2024 and June 30, 2024 - - Additional paid-in capital 46,670,244 43,217,391 Accumulated deficit ( 22,418,700 ) ( 8,825,041 ) Accumulated other comprehensive (loss) income ( 23,1