iPower Inc. (IPW) Reports Q3 Loss of $0.01

iPower Inc. (NASDAQ: IPW) reported Q3 EPS of ($0.01), versus $0.01 reported last year. Revenue for the quarter came in at $13.1 million, versus $9.77 million reported last year.

"In our first earnings release as a public company, we are pleased to report a healthy fiscal third quarter, with strong year over year revenue growth. We are particularly happy with this quarter\'s gross margin performance, which reflects our product design and development expertise, our strong merchandising capability, and customer recognition of the value proposition of our in-house brands," said Lawrence Tan, Chairman and CEO of iPower. We finished the quarter with significant momentum as we were able to add inventory to meet customer demand and we saw some of the supply chain bottlenecks that had impacted the month of December 2020 and the first two months of 2021 begin to ease. We believe our data and technology driven approach to operating our business is paying dividends and will continue to accelerate our opportunities in the hydroponics industry and adjacent markets for the foreseeable future."

For earnings history and earnings-related data on iPower Inc. (IPW) click here.

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