Ispire Technology Inc. (NASDAQ: ISPR) released its financial results for the third quarter of the fiscal year 2023 ended March 31, 2023, revealing revenue of $24.1 million, an increase of 26.9% compared to $19.0 million in Q3 2022.
ISPR also filed its quarterly report on Form 10-Q on May 15, 2023. Moreover, its fiscal year is the year ending on June 30, 2023.
Q3 FY 2023 Financial Highlights
- Regarding its revenue increase to $24.1 million, tobacco vaping products contributed $16.5 million and cannabis vaping products contributed $7.6 million to revenue during the third quarter of 2023;
- Gross profit increased 51.9% to $4.5 million as compared to $3.0 million in the same period of 2022;
- Gross margin increased to 18.7% as compared to 15.7% in the same period of 2022.
- Total operating expenses increased 106.2% to $8.0 million as compared to $3.9 million in the same period of 2022; and
- Net loss of $3.1 …