Ispire (ISPR) Q3 2026 Earnings Transcript

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DATE

Thursday, May 7, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Co-Chief Executive Officer — Michael Wang

• Chief Financial Officer — Jie Yu

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Full Conference Call Transcript

Michael Wang, co-chief enforcement serviceman of Ispire Technology Inc. Michael, you whitethorn begin.

Michael Wang: Thank you, operator, and convey you each for joining us. This 4th marked a turning constituent for Ispire Technology Inc. Our concern has stabilized, our operating exemplary is sharper and much disciplined, and we ended the 4th with $18 cardinal successful cash, up $468,000 sequentially. This sequential currency maturation is 1 of the clearest signs of advancement successful the quarter. It demonstrates improving fiscal power and a much focused operating posture, and it reinforces our assurance successful becoming cash-flow affirmative successful the 2nd fractional of calendar twelvemonth 2026. The modulation we acceptable retired to marque is down us.

Now we are executing against a phased maturation roadmap with aggregate catalysts, each tied to billion-dollar markets wherever we person wide competitory advantages. The archetypal and astir contiguous of these is Malaysia. Our Malaysia manufacturing level is unrecorded today, and we judge this is 1 of the astir strategically important developments successful the company's history. In addition, Malaysia provides america with an estimated 25% tariff vantage implicit China, giving america some economical and strategical leverage arsenic we prosecute opportunities successful the $73 cardinal planetary vape market. This is some a manufacturing milestone and a structural vantage that we judge tin enactment borderline improvement, lawsuit acquisition, and semipermanent marketplace relevance.

Second, plans are underway to motorboat our vapor ODM inaugural successful July. This inaugural volition initially service tiny and midsized brands, with larger marque opportunities targeted for 2027. We spot this arsenic different applicable commercialization pathway that tin person our manufacturing, design, and regulatory capabilities into higher-value lawsuit relationships. Beyond these near-term drivers, we proceed to physique long-duration optionality done differentiated technology. [inaudible] We judge our borderline gating level has the imaginable to assistance unlock the astir $50 cardinal to $70 cardinal U.S. flavored vape market, a marketplace that remains efficaciously inaccessible contiguous nether the existent framework. In parallel, our Gmesh solid exertion is drafting involvement successful a $24 billion-plus ineligible planetary market, including licensing discussions with large baccy participants.