Ispire Q3 Report: Revenue and Profit Grow with Cannabis Focus

Business by Vincent Yi; Ellesmere Zhu
May.17.2023
Ispire Q3 Report: Revenue and Profit Grow with Cannabis Focus
E-vapor firm Ispire reports a 26.9% year-on-year revenue growth in Q3, according to the company's 10-Q report.

E-vapor company Ispire has reported a 26.9% year-on-year growth in its revenue for the third quarter of 2023, reaching $24.1 million, as per its 10-Q report submitted to the U.S. Securities and Exchange Commission (SEC) on May 15, 2023. Gross profit for the same period saw a 51.9% increase, hitting $4.5 million. Notably, Ispire's fiscal year ends on June 30th, not the traditional December 31st.

 

According to CFO Michael Wang, the firm anticipates a 58% to 98% sequential revenue growth from cannabis-related products in the fourth quarter. "We're focused on a multi-pronged strategy aimed at increasing the sales of our e-vapor products and developing CBD e-vapor products, with an emphasis on medical and recreational uses," Wang stated.

 

In Q3, Ispire's revenue from e-vapor products amounted to $16.5 million, while CBD-related vapor products contributed $7.6 million. The total operating costs grew 106.2% to $8 million, compared to $3.9 million in the same period of 2022. This led to a net loss of $3.1 million, a significant increase from the $1 million loss in Q3 2022.


Looking ahead, Ispire anticipates Q4 revenues from CBD vapor products to range from $12 million to $15 million, a 58% to 98% growth from Q3 2023. Ispire, which began marketing its CBD vapor products in mid-2020, is engaged in the research, design, commercialization, sales, promotion, and distribution of branded e-cigarettes and CBD vapor products. Its tobacco e-vapor products are sold under the brand name Aspire.


Thumbnail source: Ispire

*This article is an original article of 2FIRSTS Technology Co., Ltd. The copyright and license rights belong to the company. Any entity or individual shall make link and credit 2FIRSTS when taking actions to copy, reprint or distribute the original article. The company retains the right to pursue its legal responsibility.

FDA Warns Retailers Over Unauthorized Nicotine Pouches Resembling Candy and Everyday Products
FDA Warns Retailers Over Unauthorized Nicotine Pouches Resembling Candy and Everyday Products
The FDA issued warning letters to eight retailers selling unauthorized nicotine pouches and dissolvable tobacco products resembling candy, breath strips and cough drops. The action highlights rising scrutiny of packaging, youth appeal and accidental ingestion risks, as the agency clarifies enforcement priorities for unauthorized ENDS and nicotine pouch products while maintaining PMTA as the legal market pathway.
Special Report
May.21
BofA: U.S. Nicotine Market Splits as Vapor Sales Fall 17.2% and Oral Tobacco Rises 5.8%
BofA: U.S. Nicotine Market Splits as Vapor Sales Fall 17.2% and Oral Tobacco Rises 5.8%
According to Investing.com citing Bank of America scanner data for the four weeks ending May 30, U.S. nicotine category performance was mixed, with cigarette, vapor and cigar sales declining while oral tobacco sales rose 5.8%.
Jun.10
U.S. Military Nicotine Policy Sparks Debate as Nicotine Pouches Enter Discussion
U.S. Military Nicotine Policy Sparks Debate as Nicotine Pouches Enter Discussion
An opinion article published by Stars and Stripes argued that the Pentagon’s January nicotine clinical guidelines overemphasize abstinence, fail to reflect the reality that about 30% of active-duty personnel use nicotine, and do not address nicotine pouches as potential harm-reduction products.
Industry Insight
Jun.08
Charlie’s Plans Q3 2026 Pilot of America’s First Age-Gated Flavored Disposable Vape
Charlie’s Plans Q3 2026 Pilot of America’s First Age-Gated Flavored Disposable Vape
U.S. vape company Charlie’s Holdings announced plans to pilot its age-gated flavored disposable vape products in hundreds of retail stores during the third quarter of 2026. The company said the products will utilize AI- and blockchain-powered age-verification technology designed to address FDA concerns over youth access and potentially create a new compliance pathway for flavored vape products.
Jun.15
Special Report | China’s Tobacco Tax Debate Shifts Toward Tax Design as Policy Trade-offs Come Into Focus
Special Report | China’s Tobacco Tax Debate Shifts Toward Tax Design as Policy Trade-offs Come Into Focus
China’s tobacco tax debate is moving from whether to raise prices to how the tax system should be designed. At a Beijing forum on World No Tobacco Day, experts discussed higher specific excise taxes, minimum tax burdens and dynamic adjustments linked to income and inflation. The issue also connects to China’s broader consumption tax reform, health financing and chronic disease costs. Public reports did not mention e-cigarettes, heated tobacco, nicotine pouches or other new nicotine products.
Jun.11
Reuters: Big Tobacco Emerges as Winner After FDA Regulatory Shift
Reuters: Big Tobacco Emerges as Winner After FDA Regulatory Shift
According to Reuters, major tobacco companies may emerge as key beneficiaries after the U.S. FDA loosened regulations on vaping and nicotine pouch products, a shift that has sparked debate over public health risks.
Industry Insight
May.26