2023 Q2 Form 10-Q Financial Statement

#000121390023039983 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q2
Revenue $32.63M $24.14M $88.10M
YoY Change -62.96% 26.94%
Cost Of Revenue $26.00M $19.62M $74.79M
YoY Change -65.23% 22.31%
Gross Profit $6.625M $4.520M $13.31M
YoY Change -50.21% 51.9%
Gross Profit Margin 20.3% 18.73% 15.1%
Selling, General & Admin $6.054M $7.982M $14.29M
YoY Change -57.65% 106.19%
% of Gross Profit 91.39% 176.59% 107.43%
Research & Development $42.45K
YoY Change
% of Gross Profit 0.94%
Depreciation & Amortization $25.78K $779.9K $9.420K
YoY Change 173.67%
% of Gross Profit 0.39% 17.25% 0.07%
Operating Expenses $6.054M $7.982M $14.29M
YoY Change -57.65% 106.19%
Operating Profit $570.6K -$3.462M -$988.7K
YoY Change -157.71% 286.53%
Interest Expense -$389.4K $661.2K $63.22K
YoY Change -715.94%
% of Operating Profit -68.25%
Other Income/Expense, Net -$46.71K -$67.95K $122.4K
YoY Change -138.16%
Pretax Income $134.5K -$2.869M -$803.1K
YoY Change -116.75%
Income Tax $175.3K $238.0K $1.071M
% Of Pretax Income 130.35%
Net Earnings -$40.83K -$3.107M -$1.874M
YoY Change -97.82% 213.65%
Net Earnings / Revenue -0.13% -12.87% -2.13%
Basic Earnings Per Share -$0.06
Diluted Earnings Per Share $0.00 -$0.06 -$0.03
COMMON SHARES
Basic Shares Outstanding 53.11M shares 50.00M shares
Diluted Shares Outstanding 50.00M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.43M $33.64M
YoY Change
Cash & Equivalents $40.30M $24.04M $74.48M
Short-Term Investments $9.134M $9.604M
Other Short-Term Assets $3.379M $290.6K
YoY Change
Inventory $7.472M $14.24M $14.58M
Prepaid Expenses
Receivables $24.53M $15.41M $8.261M
Other Receivables $127.6K $0.00 $127.4K
Total Short-Term Assets $84.81M $63.58M $99.45M
YoY Change -14.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.088M $588.2K $114.0K
YoY Change 854.29%
Goodwill
YoY Change
Intangibles $0.00 $72.71M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.882M $78.38M $1.286M
YoY Change 357.42%
Total Long-Term Assets $5.882M $78.38M $1.286M
YoY Change 357.42%
TOTAL ASSETS
Total Short-Term Assets $84.81M $63.58M $99.45M
Total Long-Term Assets $5.882M $78.38M $1.286M
Total Assets $90.69M $142.0M $100.7M
YoY Change -9.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.274M $178.1K $290.5K
YoY Change 338.63%
Accrued Expenses $35.85K $1.220M $34.58K
YoY Change 3.66%
Deferred Revenue $988.6K $742.2K $1.672M
YoY Change -40.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $55.96M $58.40M $88.97M
YoY Change -37.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.356M $3.609M
YoY Change
Total Long-Term Liabilities $3.356M $3.609M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $55.96M $58.40M $88.97M
Total Long-Term Liabilities $3.356M $3.609M
Total Liabilities $59.32M $62.01M $88.97M
YoY Change -33.33%
SHAREHOLDERS EQUITY
Retained Earnings $5.848M $5.889M $11.95M
YoY Change -51.05%
Common Stock $5.422K $5.000K $5.000K
YoY Change 8.44%
Preferred Stock $7.426M
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.37M $79.95M $11.77M
YoY Change
Total Liabilities & Shareholders Equity $90.69M $142.0M $100.7M
YoY Change -9.97%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q2
OPERATING ACTIVITIES
Net Income -$40.83K -$3.107M -$1.874M
YoY Change -97.82% 213.65%
Depreciation, Depletion And Amortization $25.78K $779.9K $9.420K
YoY Change 173.67%
Cash From Operating Activities -$9.833M -$6.574M $765.9K
YoY Change -1383.96%
INVESTING ACTIVITIES
Capital Expenditures $525.7K $16.60K $74.17K
YoY Change 608.78%
Acquisitions
YoY Change
Other Investing Activities $470.7K -$9.604M
YoY Change
Cash From Investing Activities -$55.00K -$9.621M -$74.17K
YoY Change -25.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.15M -44.04M -694.8K
YoY Change -3864.01%
NET CHANGE
Cash From Operating Activities -9.833M -6.574M 765.9K
Cash From Investing Activities -55.00K -9.621M -74.17K
Cash From Financing Activities 26.15M -44.04M -694.8K
Net Change In Cash 16.26M -60.23M -3.130K
YoY Change -519747.28%
FREE CASH FLOW
Cash From Operating Activities -$9.833M -$6.574M $765.9K
Capital Expenditures $525.7K $16.60K $74.17K
Free Cash Flow -$10.36M -$6.590M $691.7K
YoY Change -1597.64%

Facts In Submission

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dei Document Period End Date
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2023-03-31
dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
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Ispire Technology Inc.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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19700 Magellan Drive
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CY2023Q1 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2023Q1 us-gaap Operating Lease Liability
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CY2022Q2 ispr Accrued Expenses
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CY2023Q1 ispr Accrued Expenses
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CY2023Q1 ispr Freight Payable
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CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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us-gaap Payments Of Dividends Common Stock
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CY2022Q2 ispr Due From Related Partie
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CY2022 us-gaap Related Party Transaction Amounts Of Transaction
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us-gaap Related Party Transaction Amounts Of Transaction
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CY2023Q1 ispr Accounts Payable Related Parties
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CY2022Q1 us-gaap Related Party Transaction Purchases From Related Party
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CY2023Q1 us-gaap Related Party Transaction Purchases From Related Party
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CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 dei Entity Common Stock Shares Outstanding
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CY2023Q1 ispr Due From Related Parties1
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us-gaap Earnings Per Share Diluted
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Provision For Doubtful Accounts
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Dividends Common Stock
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Diluted
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001948455

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