Ispire Technology Inc. logo ISPR - Ispire Technology Inc.

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| PRICE TARGET: $3.50 DETAILS
HIGH: $3.50
LOW: $3.50
MEDIAN: $3.50
CONSENSUS: $3.50
UPSIDE: 134.90%
Metric 2026 Q3 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1
Revenue
Revenue 18.7 20.3 30.4 20.1 26.2 41.8 39.3 37.3 30.0 41.7 42.9 32.6 24.1 31.9 26.9 21.8 19.0 23.6 23.6
Cost of Revenue 16.7 16.8 25.2 17.7 21.4 34.1 31.7 26.8 23.9 35.4 36.0 26.1 19.6 26.8 22.2 18.8 16.0 20.0 20.0
Gross Profit 2.0 3.5 5.1 2.5 4.8 7.7 7.7 10.6 6.1 6.3 6.8 6.5 4.5 5.1 4.8 3.0 3.0 3.7 3.7
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0.0 0 0 0 0 0 0 0
SG&A Expenses 5.9 6.1 6.1 (4.9) 15.4 15.1 12.9 13.9 11.8 10.2 7.7 6.1 7.2 4.8 6.0 4.9 3.9 2.8 2.8
Other Expenses 5.6 4.2 1.8 22.0 0 0 0 0 0 0 0 1.3 0 0 0 0 0 0 0
Operating Expenses 11.5 10.3 7.8 17.1 15.4 15.1 12.9 13.9 11.8 10.2 7.7 7.4 7.2 4.8 6.0 4.9 3.9 2.8 2.8
Operating Income
Operating Income (9.5) (6.9) (2.7) (14.6) (10.6) (7.4) (5.3) (3.4) (5.7) (3.9) (0.9) (0.9) (2.7) 0.3 (1.2) (1.9) (0.9) 0.9 0.9
Interest Expense 0.1 0.1 0.1 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0.1 0.1 0.1 0.1 0.0 0.1 0.0 0.1 0.0 0.2 0.1 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0
Profitability
EBITDA (8.6) (5.8) (2.4) 8.1 (10.1) (7.0) (4.7) (1.7) (5.6) (3.3) (0.5) (0.3) (2.1) 0.4 (1.5) (1.9) (0.8) 1.0 1.0
EBIT (9.3) (6.4) (2.7) 7.4 (10.6) (7.5) (5.1) (3.2) (5.7) (3.6) (0.8) (1.3) (2.1) 0.4 (1.7) (1.9) (0.8) 1.0 1.0
Income Before Tax (9.3) (6.5) (2.8) (14.7) (10.7) (7.5) (5.1) (3.2) (5.7) (3.6) (0.8) (1.3) (2.1) 0.4 (1.7) (1.9) (0.8) 1.0 1.0
Income Tax Expense 0.2 0.1 0.5 0.1 0.2 0.5 0.5 0.2 0.3 0.4 0.5 0.2 0.2 0.5 0.3 0.3 0.2 0.3 0.3
Net Income (9.5) (6.6) (3.3) (14.8) (10.9) (8.0) (5.6) (3.4) (5.9) (4.0) (1.3) (1.5) (2.3) (0.1) (2.0) (2.2) (1.0) 0.6 0.6
Per Share Data
EPS (Basic) -0.17 -0.12 -0.06 -0.26 -0.19 -0.14 -0.10 -0.06 -0.11 -0.07 -0.03 -0.03 -0.04 -0.04 -0.04 -0.02 0.01 0.01
EPS (Diluted) -0.17 -0.12 -0.06 -0.26 -0.19 -0.14 -0.10 -0.06 -0.11 -0.07 -0.03 -0.03 -0.04 -0.04 -0.04 -0.02 0.01 0.01
Shares Outstanding 57.3 57.3 57.3 57.2 57.0 56.7 56.6 56.5 54.3 54.3 54.3 54.2 53.1 53.1 52.7 52.7 52.7 50 50
Metric 2026 Q3 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2
Current Assets
Cash & Cash Equivalents 18.0 17.6 22.7 24.4 23.6 34.4 37.7 35.1 39.5 17.5 25.7 40.3 24.0 84.3
Short-Term Investments 0 0 0 0 0 0 0 0 0 9.3 9.2 9.1 9.6 0
Net Receivables 29.4 38.4 45.2 40.2 60.4 67.7 62.4 60.2 48.1 45.7 39.4 24.7 15.4 18.0
Inventory 5.5 5.0 6.2 6.6 7.8 7.9 7.0 6.4 9.8 7.5 5.6 7.5 14.2 20.3
Other Current Assets 0.1 0.1 0.1 0 0 0.0 0.0 0 0 0 0.1 0 0.3 0
Total Current Assets 55.7 63.7 75.1 72.9 94.0 112.3 108.5 102.6 98.7 83.0 81.6 84.8 63.6 122.8
Non-Current Assets
Property, Plant & Equipment 6.5 6.9 7.5 8.0 7.5 5.3 6.0 6.2 5.8 6.1 5.9 5.3 4.9 4.0
Goodwill 0 0 0 0 0 0 2.0 0 0 0 0 0 0 0
Intangible Assets 2.6 2.5 2.3 2.2 2.1 2.1 0 1.4 1.0 0.7 0.3 0 72.7 73.5
Long-Term Investments 10.8 11.1 11.3 11.5 11.8 12.1 12.2 12.2 2 0 0 0 0 0
Other Non-Current Assets 0.2 0.2 0.2 7.6 0.2 0.2 0.3 0.3 0.7 0.7 0.7 0.2 0.7 0.7
Total Non-Current Assets 20.2 20.7 21.3 29.3 21.7 19.7 20.4 20.1 9.5 7.6 6.8 5.6 78.4 78.2
Total Assets 75.9 84.4 96.4 102.2 115.7 132.0 129.0 122.6 108.1 90.6 88.4 90.4 142.0 201.1
Current Liabilities
Account Payables 5,005.0 45.6 52.1 56.6 81.8 91.5 80.3 70.8 64.7 55.0 50.7 53.0 56.2 67.7
Short-Term Debt 1.1 1.1 1.1 1.1 1.1 0 0 0 0 0 1.2 0.8 0 0
Deferred Revenue 3.0 5.0 3.0 4.9 1.6 0 2.2 2.2 1.3 1.7 1.3 1.0 0.7 1.0
Other Current Liabilities (4,955.9) 0.2 0.4 0.2 9.3 12.2 1.1 0.7 0.5 0 0.3 0.9 0 45.4
Total Current Liabilities 54.9 60.2 65.8 72.5 96.2 106.2 96.4 86.0 69.7 58.5 54.0 55.9 58.4 115.0
Non-Current Liabilities
Long-Term Debt 0 0.2 0.5 0.8 1.2 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 35 29 29 25 0 (0.0) 0 0 0 0 0 0 0 0
Total Non-Current Liabilities 37.3 31.9 32.4 29.1 4.8 1.6 1.9 2.2 2.7 3.1 3.4 3.1 3.6 2.8
Total Liabilities 92.1 92.1 98.2 101.6 100.9 107.8 98.2 88.2 72.5 61.6 57.4 58.9 62.0 117.8
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings (67.5) (57.9) (51.3) (48.1) (33.3) (22.4) (14.4) (8.8) (5.5) 0.5 4.5 5.9 7.4 9.0
Accumulated Other Comprehensive Income (0.2) (0.2) (0.1) (0.1) (0.0) (0.0) (0.1) 0.1 0.0 (0.0) 0.5 (0.2) (0.2) (0.0)
Total Stockholders' Equity (16.2) (7.7) (1.8) 0.6 14.8 24.2 30.7 34.5 35.7 29.0 31.0 31.5 80.0 83.2
Total Liabilities & Equity 75.9 84.4 96.4 102.2 115.7 132.0 129.0 122.6 108.1 90.6 88.4 90.4 142.0 201.1
Debt Metrics
Total Debt 4.9 5.7 6.3 7.1 7.6 2.8 3.1 3.4 4.0 4.3 4.6 3.9 4.5 3.6
Net Debt (13.1) (11.9) (16.4) (17.3) (16.0) (31.6) (34.6) (31.7) (35.4) (13.2) (21.1) (36.4) (19.5) (80.7)
Metric 2026 Q3 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1
Operating Activities
Net Income (9.5) (9,850.9) (10.9) (14.8) (10.9) (8.0) (5.9) (3.4) (5.9) (4.0) (1.3) (1.5) (2.4) (0.1) (2.0) (2.2) (1.0) 0.6 0.6
Depreciation & Amortization 0.7 1,172.8 0.6 0.7 0.6 0.5 0.4 1.6 0.4 (0.3) 0.3 1.1 0.0 (0.2) 0.3 (0.1) 0.1 0.1 0.1
Stock-Based Compensation 0 1,760.0 0 0 1.5 1.4 0 1.7 1.8 1.9 1.0 0 0 0 0 0 0 0 0
Change in Working Capital 3.1 (4.3) (10.0) 8.3 (10.0) (1.4) 5.8 (4.1) 5.8 (7.0) (13.3) (10.6) (5.6) 5.5 4.0 18.7 (14.8) (4.0) (4.0)
Other Non-Cash Items 7.7 6,918.5 7.8 10.5 6.3 4.3 3.1 2.9 1.3 2.0 0.2 0.3 1.2 1.0 14.7 (0.1) 0.9 (0.8) (0.8)
Operating Cash Flow 2.0 (4.0) (12.5) 4.7 (12.5) (3.2) 3.4 (1.4) 3.4 (7.4) (13.1) (10.7) (6.8) 6.1 2.2 16.4 (15.7) (4.2) (4.2)
Investing Activities
Capital Expenditure (0.2) (0.1) 0.2 (1.0) 0.2 (0.2) (0.1) (1.0) (0.3) (1.1) (0.8) (0.5) (0.0) (0.2) (0.3) (0.0) (0.1) (0.0) (0.0)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (0.8) (0.5) (0.8) 0.8 0 0 (1) (1) (1) 0 0 0.5 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 9.1 0 9.1 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 (3.2) (0.8) (0.1) 0 (1.2) 0 0 (0.3) 0 (9.6) 0 0 0 0 0 0
Investing Cash Flow (1.2) (0.8) (0.6) (3.5) (0.6) (0.2) 7.8 (3.0) 7.8 (1.1) (0.8) (0.1) (9.6) (0.2) (0.3) (0.0) (0.1) (0.0) (0.0)
Financing Activities
Net Debt Issuance (0.3) (0.3) 2.3 (0.4) 2.3 0 0 0 0 0 (0.2) 0 (0.2) (0.3) (0.2) 0.1 (0.1) 0 0
Stock Repurchased 0 (0.0) (0.1) 0 (0.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0.0 (3.4) 0 0 (0.0) 0 (0.2) (0.2)
Other Financing Activities 0 0 0 0 0 0 0 (0.0) 0 0.2 (0.5) 1.3 (40.3) 2.4 (0.1) (2.4) 1.7 (1.0) (1.0)
Financing Cash Flow (0.3) (0.4) 2.3 (0.4) 2.3 0 10.8 (0.0) 10.8 0.2 (0.7) 27.0 (43.9) 2.2 (0.3) (2.3) 1.6 (1.2) (1.2)
Cash Position
Net Change in Cash 0.5 (5.1) (10.8) 0.8 (10.8) (3.4) 22.0 (4.4) 22.0 (8.2) (14.6) 16.3 (60.2) 8.2 1.6 14.1 (14.1) (5.4) (5.4)
Cash at Beginning 17.6 22.7 34.4 23.6 34.4 37.8 17.5 39.5 17.5 25.7 40.3 24.0 84.3 76.1 74.5 60.3 74.5 79.9 0
Cash at End 18.1 17.6 23.6 24.4 23.6 34.4 39.5 35.1 39.5 17.5 25.7 40.3 24.0 84.3 76.1 74.5 60.3 74.5 (5.4)
Free Cash Flow 1.7 (4.0) (12.3) 3.7 (12.3) (3.4) 3.3 (2.4) 3.0 (8.4) (13.9) (11.2) (6.8) 6.0 1.9 16.4 (15.8) (4.2) (4.2)
Key Metrics 2026 Q3 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1
Income Statement
Revenue 18.7 20.3 30.4 20.1 26.2 41.8 39.3 37.3 30.0 41.7 42.9 32.6 24.1 31.9 26.9 21.8 19.0 23.6 23.6
Gross Profit 2.0 3.5 5.1 2.5 4.8 7.7 7.7 10.6 6.1 6.3 6.8 6.5 4.5 5.1 4.8 3.0 3.0 3.7 3.7
Operating Income (9.5) (6.9) (2.7) (14.6) (10.6) (7.4) (5.3) (3.4) (5.7) (3.9) (0.9) (0.9) (2.7) 0.3 (1.2) (1.9) (0.9) 0.9 0.9
Net Income (9.5) (6.6) (3.3) (14.8) (10.9) (8.0) (5.6) (3.4) (5.9) (4.0) (1.3) (1.5) (2.3) (0.1) (2.0) (2.2) (1.0) 0.6 0.6
EPS (Diluted) -0.17 -0.12 -0.06 -0.26 -0.19 -0.14 -0.10 -0.06 -0.11 -0.07 -0.03 -0.03 -0.04 -0.04 -0.04 -0.02 0.01 0.01
Balance Sheet
Cash & Equivalents 18.0 17.6 22.7 24.4 23.6 34.4 37.7 35.1 39.5 17.5 25.7 40.3 24.0 84.3
Total Assets 75.9 84.4 96.4 102.2 115.7 132.0 129.0 122.6 108.1 90.6 88.4 90.4 142.0 201.1
Total Debt 4.9 5.7 6.3 7.1 7.6 2.8 3.1 3.4 4.0 4.3 4.6 3.9 4.5 3.6
Stockholders' Equity (16.2) (7.7) (1.8) 0.6 14.8 24.2 30.7 34.5 35.7 29.0 31.0 31.5 80.0 83.2
Cash Flow
Operating Cash Flow 2.0 (4.0) (12.5) 4.7 (12.5) (3.2) 3.4 (1.4) 3.4 (7.4) (13.1) (10.7) (6.8) 6.1 2.2 16.4 (15.7) (4.2) (4.2)
Capital Expenditure (0.2) (0.1) 0.2 (1.0) 0.2 (0.2) (0.1) (1.0) (0.3) (1.1) (0.8) (0.5) (0.0) (0.2) (0.3) (0.0) (0.1) (0.0) (0.0)
Free Cash Flow 1.7 (4.0) (12.3) 3.7 (12.3) (3.4) 3.3 (2.4) 3.0 (8.4) (13.9) (11.2) (6.8) 6.0 1.9 16.4 (15.8) (4.2) (4.2)