FX.co ★ Ispire Technology FY24 Net Loss Widens On Higher Expenses; Revenues Climb

Ispire Technology Inc. (ISPR), a pioneer in vaping technology and precision dosing, disclosed on Thursday that its fiscal 2024 net loss expanded to $14.8 million, or $0.27 per share, up from the previous year's net loss of $6.0 million, or $0.12 per share.

Total operating expenses surged by 73 percent, reaching $43.7 million, compared to $25.3 million in the prior year.

Despite the rise in operating expenses, gross profit grew by 43.3 percent, climbing to $29.8 million from $20.8 million in 2023. The gross margin also saw improvement, increasing to 19.6 percent from 18.0 percent the previous year.

Revenue demonstrated significant growth, increasing by 31.4 percent to $151.9 million, up from $115.6 million in the previous fiscal year.