ISPR on Nasdaq
Ispire Technology Inc.
Ispire Technology Inc. is a cigarettes company based in Los Angeles, listed on Nasdaq (ISPR).1
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Last updated Oct 21, 2026.
Overview
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- TickerISPR on Nasdaq1
- IndustryCigarettes1
- HeadquartersLos Angeles, California1
- Business address19700 Magellan Drive, Los Angeles, Ca 905023
- Filer category, Emerging growth company3
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We are committed to delivering superior products that challenge industry norms, with the goal of delivering an unmatched customer and adult consumer experience. In achieving this, risk reduction is central to our mission, and we aim to improve the lives of our consumers through cutting-edge research and development. Our technology platforms look to reduce youth access to vaping products, which in turn will facilitate our ability to provide adult consumers with the products they desire.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
12.8%Gross margin2
-33.9%Operating margin2
-34.6%Net margin2
-24.7%Revenue growth, 20262
-$875.4KFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Tobacco vaping products brought in 83% of the revenue Ispire Technology Inc. broke down this way in fiscal 2026.
Products and services by year
| Products and services | 2025 | 2026 |
|---|---|---|
| Tobacco vaping products | $90.5M | $80.1M |
| Cannabis vaping products | $37.0M | $15.9M |
Regions
Europe brought in 64% of the revenue Ispire Technology Inc. broke down this way in fiscal 2026.
Regions by year
| Regions | 2025 | 2026 |
|---|---|---|
| Europe | $74.1M | $61.4M |
| North America | $32.6M | $15.1M |
| Asia Pacific | $12.3M | $10.9M |
| Others | $8.5M | $8.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue87¢$83.7M
- Research and development0¢$81.0K
- Other costs12¢$11.1M
- Income tax1¢$1.1M
Out of $96.0M in revenue.2 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2026-06-30 | 2025-06-30 |
|---|---|---|
| Revenue | $96.0M | $127.5M |
| Cost of revenue | $83.7M | $104.8M |
| Gross profit | $12.3M | $22.6M |
| Sales and marketing expenses | $5.0M | $8.4M |
| Credit loss expenses | $20.7M | $22.0M |
| General and administrative expenses | $19.2M | $30.0M |
| Total operating expenses | $44.9M | $60.5M |
| Loss from operations | -$32.6M | -$37.8M |
| Interest income | $343.5K | $87.0K |
| Interest expense | -$374.2K | -$188.8K |
| Exchange gain (loss), net | $316.4K | -$86.6K |
| Other income, net | $250.1K | $1.7K |
| Total other income (expense) | $535.9K | -$186.7K |
| Loss before income taxes | -$32.1M | -$38.0M |
| Income taxes | -$1.1M | -$1.2M |
| Net loss | -$33.2M | -$39.2M |
| Foreign currency translation adjustments | -$90.1K | -$167.2K |
| Comprehensive loss | -$33.3M | -$39.4M |
| Basic (in Dollars per share) | -$0.58 | -$0.69 |
| Diluted (in Dollars per share) | -$0.58 | -$0.69 |
| Basic (in Shares) | 57.3M shares | 56.9M shares |
| Diluted (in Shares) | 57.3M shares | 56.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Cash | $19.3M | $24.4M | |
| Restricted cash | $50.2K | ||
| Accounts receivable, net | $19.8M | $39.6M | |
| Inventories, net | $3.1M | $6.6M | |
| Prepaid expenses and other current assets | $2.5M | $2.2M | |
| Total current assets | $45.4M | $72.9M | |
| Property, plant and equipment, net | $2.4M | $3.0M | |
| Intangible assets, net | $2.6M | $2.2M | |
| Right-of-use assets operating leases | $3.0M | $5.0M | |
| Other investment | $2.0M | $2.0M | |
| Equity method investment | $8.6M | $9.5M | |
| Other non-current assets | $122.4K | $210.6K | |
| Accounts receivable non current | $7.4M | ||
| Deferred tax assets | $85.7K | ||
| Total other assets | $18.8M | $29.3M | |
| Total assets | $64.3M | $102.2M | |
| Accounts payable | $5.7M | $4.2M | |
| Contract liabilities | $1.9M | $4.9M | $2.2M |
| Accrued liabilities and other payables | $5.5M | $8.1M | |
| Borrowing current portion | $805.4K | $1.1M | |
| Operating lease liabilities current portion | $1.4M | $1.8M | |
| Total current liabilities | $44.6M | $72.5M | |
| Borrowing net of current portion | $805.4K | ||
| Operating lease liabilities net of current portion | $1.9M | $3.3M | |
| Total liabilities | $93.5M | $101.6M | |
| Common stock, par value $0.0001 per share; 140,000,000 shares authorized; 57,609,396 and 57,193,734 shares issued and outstanding as of June 30, 2026 and June 30, 2025 | $5.8K | $5.7K | |
| Treasury stock, at cost | -$60.5K | -$60.5K | |
| Additional paid-in capital | $52.3M | $48.8M | |
| Accumulated deficit | -$81.3M | -$48.1M | |
| Accumulated other comprehensive loss | -$198.9K | -$108.9K | |
| Total stockholders (deficit) equity | -$29.2M | $604.7K | $34.5M |
| Total liabilities and stockholders (deficit)/equity | $64.3M | $102.2M | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 140.0M shares | 140.0M shares | |
| Common stock, shares issued (in Shares) | 57.6M shares | 57.2M shares | |
| Common stock, shares outstanding (in Shares) | 57.6M shares | 57.2M shares |
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Cash | $19.3M | $24.4M | |
| Restricted cash | $50.2K | ||
| Accounts receivable, net | $19.8M | $39.6M | |
| Inventories, net | $3.1M | $6.6M | |
| Prepaid expenses and other current assets | $2.5M | $2.2M | |
| Total current assets | $45.4M | $72.9M | |
| Property, plant and equipment, net | $2.4M | $3.0M | |
| Intangible assets, net | $2.6M | $2.2M | |
| Right-of-use assets operating leases | $3.0M | $5.0M | |
| Other investment | $2.0M | $2.0M | |
| Equity method investment | $8.6M | $9.5M | |
| Other non-current assets | $122.4K | $210.6K | |
| Accounts receivable non current | $7.4M | ||
| Deferred tax assets | $85.7K | ||
| Total other assets | $18.8M | $29.3M | |
| Total assets | $64.3M | $102.2M | |
| Accounts payable | $5.7M | $4.2M | |
| Contract liabilities | $1.9M | $4.9M | $2.2M |
| Accrued liabilities and other payables | $5.5M | $8.1M | |
| Borrowing current portion | $805.4K | $1.1M | |
| Operating lease liabilities current portion | $1.4M | $1.8M | |
| Total current liabilities | $44.6M | $72.5M | |
| Borrowing net of current portion | $805.4K | ||
| Operating lease liabilities net of current portion | $1.9M | $3.3M | |
| Total liabilities | $93.5M | $101.6M | |
| Common stock, par value $0.0001 per share; 140,000,000 shares authorized; 57,609,396 and 57,193,734 shares issued and outstanding as of June 30, 2026 and June 30, 2025 | $5.8K | $5.7K | |
| Treasury stock, at cost | -$60.5K | -$60.5K | |
| Additional paid-in capital | $52.3M | $48.8M | |
| Accumulated deficit | -$81.3M | -$48.1M | |
| Accumulated other comprehensive loss | -$198.9K | -$108.9K | |
| Total stockholders (deficit) equity | -$29.2M | $604.7K | $34.5M |
| Total liabilities and stockholders (deficit)/equity | $64.3M | $102.2M | |
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in Shares) | 140.0M shares | 140.0M shares | |
| Common stock, shares issued (in Shares) | 57.6M shares | 57.2M shares | |
| Common stock, shares outstanding (in Shares) | 57.6M shares | 57.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2026-06-30 | 2025-06-30 |
|---|---|---|
| Net loss | -$33.2M | -$39.2M |
| Depreciation and amortization | $945.0K | $812.5K |
| Credit loss expenses | $20.7M | $22.0M |
| Right-of-use assets amortization | $1.8M | $1.5M |
| Stock-based compensation expenses | $3.5M | $5.6M |
| Inventory impairment | $2.8M | $755.0K |
| Loss from equity method investment | $903.7K | $732.5K |
| Right-of-use assets impairment | $301.1K | $151.5K |
| Debt issuance cost amortization | $129.2K | $38.5K |
| Deferred income taxes | -$85.7K | |
| Impairment loss on prepayments | $539.5K | |
| Accounts receivable | $6.4M | -$9.3M |
| Inventories | $703.1K | -$1.0M |
| Prepaid expenses and other current assets | -$455.5K | -$547.1K |
| Accounts payable and accounts payable related party | $371.6K | $10.8M |
| Contract liabilities | -$3.0M | $2.6M |
| Accrued liabilities and other payables | -$219.7K | -$555.4K |
| Operating lease liabilities | -$1.9M | -$1.4M |
| Prepaid income tax/income tax payable | -$381.4K | -$315.2K |
| Advances to a related party | -$515.8K | |
| Net cash used in operating activities | -$569.4K | -$7.4M |
| Purchase of property, plant and equipment | -$306.0K | -$1.1M |
| Acquisition of intangible assets | -$449.2K | -$939.1K |
| Joint venture investment payable | -$2.3M | -$3.2M |
| Net cash used in investing activities | -$3.1M | -$5.2M |
| Common stock repurchased | -$45.0K | -$60.5K |
| Proceeds from borrowing | $2.1M | |
| Repayment of borrowing | -$1.3M | -$167.2K |
| Net cash (used in) provided by financing activities | -$1.3M | $1.9M |
| Net decrease in cash and restricted cash | -$5.0M | -$10.7M |
| Leased assets obtained in exchange for operating lease liabilities | $3.1M | |
| Reclassification of accounts receivable to accounts receivable non current | $7.4M | |
| Reclassification of accounts payable related party to amount due to a related party | $22.0M | $25.0M |
| Cash paid for income taxes | $1.6M | $1.5M |
| Cash paid for interest | $374.2K | $150.3K |
No quarter-by-quarter statement was filed.
Corporate structure
Ispire Technology Inc. sits at the top of its group. 10 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Ispire Technology Inc.
- Tuanfang Liu Filed SC 13G on Ispire Technology Inc., latest Jul 12, 2024
- Ispire Technology Inc. Los Angeles, California
- Aspire AME Electronic Cigarettes Trading LLC Subsidiary · United Arab Emirates
- Aspire North America LLC Subsidiary · California, United States
- Aspire Science and Technology Limited Subsidiary · Hong Kong
- Ispire Global Products LLC Subsidiary · Delaware, United States
- Ispire Holdings LLC Subsidiary · Delaware, United States
- Ispire Ike Holdings LLC Subsidiary · Delaware, United States
- Ispire International Limited Subsidiary · British Virgin Islands
- Ispire Malaysia Sdn Bdh Subsidiary · Malaysia
- Magellan Trading LLC Subsidiary · California, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Ispire Technology Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Machinery and equipment | $1.6M8 Jun 30, 2025 | $1.5M8 Jun 30, 2024 | +12.4% |
| Furniture and fixtures | $877.7K8 Jun 30, 2025 | $817.3K8 Jun 30, 2024 | +7.4% |
| Leasehold improvements | $817.3K8 Jun 30, 2025 | $817.3K8 Jun 30, 2024 | 0% |
| Construction in progress | $894.9K8 Jun 30, 2025 | $36.5K8 Jun 30, 2024 | +2353.0% |
| Property and equipment, before depreciation | $4.5M2 Jun 30, 2026 | $4.2M2 Jun 30, 2025 | +7.2% |
| Accumulated depreciation | $2.1M2 Jun 30, 2026 | $1.3M2 Jun 30, 2025 | +65.0% |
| Property and equipment, net | $2.4M2 Jun 30, 2026 | $3.0M2 Jun 30, 2025 | −17.9% |
| Operating-lease assets (leased space) | $3.0M2 Jun 30, 2026 | $5.0M2 Jun 30, 2025 | −39.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $19.3M2 Jun 30, 2026 | $24.4M2 Jun 30, 2025 | −20.6% |
| Stakes in other companies (equity method) | $8.6M2 Jun 30, 2026 | $9.5M2 Jun 30, 2025 | −9.5% |
| Deposits held (banks) | $18.9M2 Jun 30, 2026 | $23.9M2 Jun 30, 2025 | −21.0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $2.6M2 Jun 30, 2026 | $2.2M2 Jun 30, 2025 | +15.2% |
| Finite-lived intangibles, gross | $2.8M2 Jun 30, 2026 | $2.3M2 Jun 30, 2025 | +19.2% |
| Accumulated amortization | $221.9K2 Jun 30, 2026 | $112.1K2 Jun 30, 2025 | +97.9% |
| Finite-lived intangibles, net | $2.6M2 Jun 30, 2026 | $2.2M8 Jun 30, 2025 | +15.2% |
| Patents, net | $939.1K8 Jun 30, 2025 | $1.4M8 Jun 30, 2024 | −33.2% |
Inventory
Properties, in its own words
Our headquarters are located at 19700 Magellan Dr, Los Angeles, CA 90502 and we maintain offices, manufacturing and storage facilities at the same location. We do not own any real property, and we leased an aggregate of approximately 201,270square feet of real property. We do not expect to experience difficulties in renewing any of the leases when they expire. If we require additional space, we expect to be able to obtain additional facilities on commercially reasonable terms.
The following table sets forth information as to the real property leased by us:
The rest of Item 2
Location · Square Feet · Current Annual Rent · Expiration Date
19700 Magellan Dr, Los Angeles, CA 90502 · 37,100 · (1) · 872,719 · July 31, 2027
55 King Yip Street, King Palace Plaza, Floor 31, Suite J, Kwun Tong, Hong Kong · 1,850 · 81,323 · July 14, 2027
No. 16, Jalan I-Park SAC 3, Taman Perindustrian I-Park SAC, 81400 Senai, Johor, Malaysia · 31,000 · 127,076 · August 17, 2026
Lot 210, Jalan Seelong, 81400 Senai, Johor, Malaysia · 131,320 · 594,401 · March 16, 2030
(1) · The number in the table reflects the square feet of building that we occupy. The leased property also includes land, and the total leased land and building is 79,512 square feet.
Item 2 of the 10-K filed Sep 15, 2026.5
Leadership
Who has led Ispire Technology Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
President
Chief financial officer
Chief operating officer
2025
- Chief executive officerTuanfang Liu Apr 14, 2023 to Apr 14, 202312
- ChairTuanfang Liu Apr 14, 2023 to Apr 14, 202312
- PresidentTed Rouhani Oct 3, 2024 to Oct 3, 202413
- Chief financial officerJay Yu Jun 20, 2025 to now14
- Chief financial officerJames P. McCormick Jun 7, 2024 to Jun 7, 202415
- Chief financial officerDaniel J. Machock Aug 9, 2023 to Sep 6, 202316
- Chief operating officerDavid Ernest Gordon Hessler Jun 4, 2024 to Jun 4, 202417
- Chief operating officerTed Rouhani Apr 5, 2023 to Mar 29, 202418
Board members and other officers (9)
- SecretarySteven P. Pryzbyla Jan 10, 2024 to Jan 10, 202419
- Chief Revenue OfficerJeffrey Doiron Apr 5, 2023 to Apr 5, 202320
- Chief Impact OfficerLauren Stower Apr 5, 2023 to Apr 5, 202321
- Board memberBrent Cox Apr 5, 2023 to now22
- Board memberJoel Paritz Apr 5, 2023 to Apr 5, 202323
- Board memberJohn Fargis Apr 5, 2023 to now24
- Board memberJiangyan Zhu Apr 14, 2023 to Apr 14, 202312
- Board memberChristopher Robert Burch Jul 13, 2023 to now25
- General counselSteven P. Pryzbyla Oct 3, 2024 to now26
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Aspire AME Electronic Cigarettes Trading LLC United Arab Emirates4
- Aspire North America LLC California4
- Aspire Science and Technology Limited Hong Kong4
- Ispire Global Products LLC Delaware4
- Ispire Holdings LLC Delaware4
- Ispire Ike Holdings LLC Delaware4
- Ispire International Limited British Virgin Islands4
- Ispire Malaysia Sdn Bdh Malaysia4
- Magellan Trading LLC California4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 23, 20268-K Regulation FD disclosure27
- Sep 17, 20268-K Results of operations; Regulation FD disclosure28
- Aug 17, 20268-K Executive or director change; Regulation FD disclosure29
- Jul 17, 20268-K Executive or director change30
- Jun 25, 20268-K Shareholder vote31
- Jun 26, 20258-K Shareholder vote32
- May 23, 20258-K Other events33
- May 15, 20258-K Executive or director change34
- May 12, 20258-K Results of operations35
- Feb 28, 20258-K Executive or director change36
- Feb 21, 20258-K Change of auditor37
- Feb 14, 20258-K Entered a material agreement; New debt or obligation38
- Apr 14, 2023New chief executive Tuanfang Liu becomes CEO12
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.06) a share, on Nov 6, 2025.39
When it reported results
- Sep 17, 2026Reported quarterly or annual results28
- May 12, 2025Reported quarterly or annual results35
- Feb 10, 2025Reported quarterly or annual results40
- Nov 12, 2024Reported quarterly or annual results41
- Sep 26, 2024Reported quarterly or annual results42
- May 15, 2024Reported quarterly or annual results43
- Feb 20, 2024Reported quarterly or annual results44
- Nov 14, 2023Reported quarterly or annual results45
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
176 filings to the SEC since October 2021: 4 annual reports, 11 quarterly reports, 43 major events, 55 insider forms, 1 large holders, 62 other. The latest 20:
- Sep 23, 20268-K CURRENT REPORT EDGAR
- Sep 17, 20268-K CURRENT REPORT EDGAR
- Sep 15, 202610-K ANNUAL REPORT EDGAR
- Aug 17, 20268-K CURRENT REPORT EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Jul 17, 20268-K CURRENT REPORT EDGAR
- Jun 25, 20268-K CURRENT REPORT EDGAR
- May 12, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
- May 12, 2026DEF 14A PROXY STATEMENT EDGAR
- May 7, 202610-Q QUARTERLY REPORT EDGAR
- Mar 19, 20264 EDGAR
- Mar 19, 20264 EDGAR
- Mar 19, 20264 EDGAR
- Mar 2, 20264 EDGAR
- Feb 26, 20264 EDGAR
- Feb 17, 20264 EDGAR
- Feb 6, 202610-Q QUARTERLY REPORT EDGAR
- Nov 24, 20254 EDGAR
The 176 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
13 open-market trades by officers, directors and large owners since October 2021: 5 buys and 8 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 2, 2026 | Wang Michael XueCo-Chief Executive Officer | Buy | 3,000 | $2.39 | $7.2K | Form 4 |
| Feb 27, 2026 | Wang Michael XueCo-Chief Executive Officer | Buy | 2,000 | $2.41 | $4.8K | Form 4 |
| Feb 26, 2026 | Wang Michael XueCo-Chief Executive Officer | Buy | 2,000 | $2.41 | $4.8K | Form 4 |
| Feb 25, 2026 | Wang Michael XueCo-Chief Executive Officer | Buy | 4,000 | $2.32 | $9.3K | Form 4 |
| Feb 24, 2026 | Wang Michael XueCo-Chief Executive Officer | Buy | 2,000 | $2.21 | $4.4K | Form 4 |
| Feb 17, 2026 | Pryzbyla Steven P.CLO and Secretary | Sale | 3,000 | $3.22 | $9.7K | Form 4 |
| Feb 13, 2026 | Pryzbyla Steven P.CLO and Secretary | Sale | 3,000 | $3.23 | $9.7K | Form 4 |
| Feb 12, 2026 | Pryzbyla Steven P.CLO and Secretary | Sale | 3,000 | $3.41 | $10.2K | Form 4 |
| Nov 20, 2025 | Fargis JohnDirector | Sale | 7,500 | $1.95 | $14.6K | Form 4 |
| Sep 26, 2025 | Pryzbyla Steven P.CLO and Secretary | Sale | 17,046 | $2.64 | $45.0K | Form 4 |
| Mar 17, 2025 | Pryzbyla Steven P.CLO and Secretary | Sale | 500 | $3.57 | $1.8K | Form 4 |
| Mar 13, 2025 | Pryzbyla Steven P.CLO and Secretary | Sale | 6,139 | $4.03 | $24.7K | Form 4 |
| Mar 12, 2025 | Pryzbyla Steven P.CLO and Secretary | Sale | 61 | $4.00 | $244 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Tuanfang LiuSC 13G, 1 filing Jul 12, 202446
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Steven Przybyla, | 40 | $398.6K | $3.3M47 |
| 2025 | Michael Wang, | 63 | $597.2K | $3.2M47 |
| 2025 | Tirdad Rouhani, | $277.8K | $988.9K47 | |
| 2025 | James McCormick | $339.5K | $459.5K47 | |
| 2025 | Tuanfang Liu, | 53 | $246.5K47 | |
| 2025 | Jie Yu | 41 | $201.3K47 | |
| 2025 | Daniel Machock | $125.0K47 | ||
| 2024 | co-CEO | $350.0K | $8.6M47 | |
| 2024 | President | $297.5K | $3.4M47 | |
| 2024 | Chief Legal Officer and Secretary | $216.0K | $809.8K47 | |
| 2024 | (CFO) | $234.9K | $254.9K47 | |
| 2024 | Co-CEO | $245.6K47 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 47. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Ispire Technology Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARIspire Technology Inc.1
- CIK0001948455
- Employer ID (EIN)93-18698785
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsJune 301
- Industry code (SIC)2111 Cigarettes1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address19700 Magellan Drive, Los Angeles, CA 905021
- Phone31074299751
- Shares outstanding57,754,471 shares as of Sep 14, 20265
- Public float$53.6M as of Dec 31, 20255
- AuditorMarcum Asia CPAs LLP, New York PCAOB ID 5395; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceOct 11, 20221
- Filings176 in all: 8-K (42), 4 (41), CORRESP (15), 3 (14), 10-Q (10), S-1/A (8), UPLOAD (8), 10-K (4)1
All 32 form types
EFFECT (4), DEF 14A (3), S-1 (3), DRS (2), DRS/A (2), DRSLTR (2), 10-Q/A (1), 144 (1), 424B1 (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), DEF 14C (1), DEFA14A (1), FWP (1), NT 10-K (1), NT 10-Q (1), POS EX (1), PRE 14C (1), S-3 (1), S-8 (1), S-8 POS (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Sep 15, 2026
Quarterly report (10-Q) May 7, 2026
Proxy statement (DEF 14A) May 12, 2026
Latest 8-K (8-K) Sep 23, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.0001 per share | ISPR | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Sep 15, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Ispire Technology Inc. names in Item 1A of its 10-K filed Sep 15, 2026: 52 risks under these headings, as written.5
- Risks Related to Our Business and Industry
- We sustained losses of approximately $39.2 million for the year ended June 30, 2025 and $33.2 million for the year ended June 30, 2026, and we cannot assure you that we can or will operate profitably in the future.
- Existing laws, regulations and policies and the issuance of new or more stringent laws, regulations, policies and any other restrictions or limitations in relation to the nicotine vaping industry have and can materially and adversely affect our business operations.
- Cannabis vapor products are subject to regulations and restrictions in the United States and are prohibited in many other countries.
- While we believe that our business and sales do not violate the Federal Paraphernalia Law, legal proceedings alleging violations of such law or changes in such law or interpretations thereof could adversely affect our business, financial condition or results of operations.
- Because Tuanfang Liu, our chief executive officer, who is also director, and his wife, Jiangyan Zhu, who is also a director, beneficially own 62.1% of our Common Stock as of June 30, 2026 and Mr. Liu owns 95% of the equity of our majority supplier, Mr. Liu has a conflict of interest.
- The recent implementation of regulations relating to e-cigarettes has resulted in our decision not to market nicotine products in the United States until we secure PMTA approvals on our ENDS devices.
- Recently enacted legislation and regulations in the United States may make it more difficult to sell nicotine and cannabis vaping products in the United States.
- We are exposed to risks relating to our relationship with a related party, and we may not be able to successfully operate manufacturing operations.
- If it is determined or perceived that the usage of nicotine or cannabis vaping products poses long-term health risks, the use of vaping products may decline significantly, which is likely to materially and adversely affect our business, financial condition, and results of operations.
- Because cannabis oil, unlike nicotine oil, is not of a uniform quality, products we design may not perform as intended, which could result in a loss of business.
- The vaping market may develop more slowly or differently than we expect.
The other 41 risks
- We have historically reported negative cash flows and we may not achieve positive cash flows in the future.
- We currently have invested in joint ventures with independent third parties in which we have less than a controlling interest. Our interest in the joint ventures could be further diluted through future financings.
- Property Ownership Through IKE or Jin Wu Could Limit Our Control of Those Investments and Reduce Our Expected Return.
- Our ability to receive cash from our joint ventures depends entirely on their respective governing body’s discretion, and there is no assurance our joint ventures will ever distribute cash to their equity holders.
- If our joint ventures’ business plans are unsuccessful, we may lose our entire investment.
- If the IKE’s PMTA or other FDA regulatory submissions are not successful, the value of our investment in IKE could be materially adversely affected.
- If we were deemed to be an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), including as a result of our ownership of the Operating Company, applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business.
- We are exposed to product liability and user complaints arising from the products we sell, which could have a material adverse impact on us.
- Our business, financial condition and results of operations may be adversely impacted by product defects or other quality issues.
- Our business may be negatively affected by global political events and foreign policy responses, including tariffs.
- Our business and the industry in which we operate are subject to inherent risks and uncertainties, including, among others, developments in regulatory landscape, medical discovery and market acceptance of vaping devices.
- We may not be able to develop and introduce new products or upgrade existing products in a timely and cost-effective manner, which may adversely affect our business, results of operations and prospects.
- Misuse or abuse of our products may lead to potential adverse health effects, subjecting us to complaints, product liability claims and negative publicity.
- Failure to manage inventory at optimal levels could adversely affect our business, financial condition, and results of operations.
- Two customers account for a significant portion of our sales.
- Economic factors beyond our control, and changes in the global economic environment, including fluctuations in inflation, tariff rates, and currency exchange rates, could result in lower revenues, higher costs and decreased margins and earnings
- We face competition from companies in the vaping industry as well as other sources of nicotine and cannabis, and we may fail to compete effectively.
- Misconduct, including illegal, fraudulent or collusive activities, by our employees, distributors, retailers, suppliers and manufacturers, may harm our brand and reputation and adversely affect our business and results of operations.
- We may become subject to governmental regulations and other legal obligations related to privacy, information security, and data protection, and any security breaches, and our actual or perceived failure to comply with our legal obligations could harm our brand and business.
- We may be subject to liability if private information that we receive is not secure or if we violate privacy laws and regulations.
- Any significant cybersecurity incident or disruption of our information technology systems or those of third-party partners could materially damage user relationships and subject us to significant reputational, financial, legal and operation consequences.
- Infringement of our intellectual property by any third party or loss of our intellectual property rights may materially and adversely affect our business, financial condition and results of operations.
- We may be subject to intellectual property infringement claims from third parties, which may be expensive to defend with no assurance of success and may disrupt our business and operations.
- As the patents we own or are licensed to us may expire and may not be extended, our patent applications may not be granted and our patent rights may be contested, circumvented, invalidated or limited in scope, our patent rights and license may not protect us.
- If we are unable to manage our growth or execute our strategies effectively, our business and prospects may be materially and adversely affected.
- Our success depends on our ability to retain our core management team and other key personnel.
- Competition for highly skilled employees is intense, and we may not be able to attract and retain the highly skilled employees needed to support our business.
- Our business, financial condition and results of operations may be adversely affected by an economic downturn.
- Although we believe that our business is not subject to PRC Laws, our business could be materially impaired if it is determined that our business is subject to PRC Laws.
- We have limited insurance coverage, which could expose us to significant costs and business disruption.
- The occurrence of natural disasters may adversely affect our business, financial condition and results of operations.
- Because we are a “controlled company” as defined in the Nasdaq Stock Market Rules, you may not have protection of certain corporate governance requirements which otherwise are required by Nasdaq’s rules.
- You may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing actions in China against two of our directors, Tuanfang Liu, our chief executive officer and chairman, and his wife Jiangyan Zhu, who are both based in China.
- Our failure to collect accounts receivable from our customers may adversely affect the results of our operations.
- Macroeconomic and regulatory conditions in the U.S. Cannabis industry may impact our ability to collect accounts receivable from our customers.
- Risks Related to Our Common Stock
- Our failure to meet the continued listing requirements of Nasdaq could result in a delisting of our Common Stock.
- If our shares are delisted from Nasdaq and become subject to the penny stock rules, it would become more difficult to trade our shares.
- The trading price of our Common Stock may be volatile, which could result in substantial losses to investors.
- As an “emerging growth company” under the Jumpstart Our Business Startups Act, or JOBS Act, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements.
- If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, the market price for our Common Stock and trading volume could decline.
- Our by-laws include forum selection provisions which may limit your ability to commence an action against us.
Legal proceedings
From time to time, we may be subject to legal proceedings, investigations and claims incidental to the conduct of our business.
We are not a party to, nor are we aware of, any legal proceedings, investigations or claims which, in the opinion of our management, are likely to have a material adverse effect on our business, financial condition or results of operations.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARTed Rouhani, President
- 14SEC EDGARJay Yu, Chief financial officer
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- 18SEC EDGARTed Rouhani, Chief operating officer
- 19SEC EDGARSteven P. Pryzbyla, Secretary
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- 21SEC EDGARLauren Stower, Chief Impact Officer
- 22SEC EDGARBrent Cox, Board member
- 23SEC EDGARJoel Paritz, Board member
- 24SEC EDGARJohn Fargis, Board member
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- 26SEC EDGARSteven P. Pryzbyla, General counsel
- 27SEC EDGARRegulation FD disclosure
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- 30SEC EDGARExecutive or director change
- 31SEC EDGARShareholder vote
- 32SEC EDGARShareholder vote
- 33SEC EDGAROther events
- 34SEC EDGARExecutive or director change
- 35SEC EDGARResults of operations
- 36SEC EDGARExecutive or director change
- 37SEC EDGARChange of auditor
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