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Ispire Technology (ISPR) earnings and revenue breakdown
Latest: Q4 FY26 · 10-K filed Sep 15, 2026 · Ispire Technology (ISPR) Q4 FY26 earnings results →
Q4 FY26 Revenue up 32% year over year to $26.7M · 52¢ of every $1 of revenue lost · operating margin -50.7%
Ispire Technology made $26.7M in Q4 FY26 (+32% Y/Y). Operating margin -50.7%, net loss $13.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Sep 15, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $26.7M in Q4 FY26, up 33% year over year and up 43% from the previous quarter.
Gross margin was 6.3%, down 6.0 points from Q4 FY25. Operating costs exceeded revenue by $13.5M, an operating margin of -50.7%. Operating expenses fell 11% while revenue rose 33%. The quarter ended with a net loss of $13.8M, wider than the previous quarter's $9.5M loss.
Operating cash flow was $2.6M (down 44% year over year). Non-cash charges added back $253K of depreciation and amortization and $736K of share-based compensation. Working capital and other items added $15.5M. Capital expenditures of −$18K left free cash flow of $2.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q4 FY26 | 10-K | Sep 15, 2026 | $26.7M | +32% | -50.7% | −$13.8M | $2.6M |
| Q3 FY26 | 10-Q | May 7, 2026 | $18.7M | -29% | -50.8% | −$9.5M | $2.0M |
| Q2 FY26 | 10-Q | Feb 6, 2026 | $20.3M | -52% | -33.9% | −$6.6M | −$4.0M |
| Q1 FY26 | 10-Q | Nov 6, 2025 | $30.4M | -23% | -8.9% | −$3.3M | −$1.2M |
| Q4 FY25 | 10-K | Sep 15, 2025 | $20.1M | -46% | -72.7% | −$14.8M | $4.7M |
| Q3 FY25 | 10-Q | May 9, 2025 | $26.2M | -13% | -40.4% | −$10.9M | −$12.5M |
| Q2 FY25 | 10-Q | Feb 7, 2025 | $41.8M | +0.3% | -17.6% | −$8.0M | −$3.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Ispire Technology
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. We are engaged in the research and development, design, commercialization, sales, marketing and distribution of branded and non-branded vaping hardware products in both the nicotine and cannabis spaces, as well as the assembly of nicotine pouch products and other next-generation nicotine products. Vaping refers to the practice of inhaling and exhaling the vapor produced by an electronic vaping device.
In its own words, from its 10-K, filed Sep 15, 2026.
Ispire Technology against its Cigarettes peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +32% against the peers' median +6%. Operating margin: -50.7% against the peers' median 42.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ISPR Ispire Technology | Q4 FY26 | $26.7M | +32% | -50.7% |
| PM Philip Morris International | Q3 2026 | $11.4B | +6% | 42.5% |
| MO Altria Group | Q3 2026 | $6.1B | +1% | 54.0% |
| XXII 22nd Century Group | Q2 2026 | $2.9M | -30% | -114.9% |
Source: Ispire Technology 10-K on SEC EDGAR · CIK 1948455 · Cigarettes
13F: who owns ISPR and who is buying
More on ISPR
History
Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results