Key Highlights

  • iPower Inc. (NASDAQ:IPW) was quoted at USD 1.34 in premarket trading on November 5, 2026, down 9.46%.
  • Fiscal 2026 Revenue was USD 19.96 million, down 68.4%, reported on October 2, 2026.
  • Net loss attributable to shareholders widened to USD 11.62 million from USD 4.97 million, with gross Margin at 20.2% versus 43.3%.
  • Management expects Liquidity for at least 12 months, citing USD 4.7 million of post-year-end financing and up to USD 15 million of optional Facility capacity.

Fiscal 2026 Results Reported on October 2, 2026

iPower Inc. (NASDAQ:IPW) was quoted at USD 1.34 in premarket trading on November 5, 2026, down 9.46%, per the premarket quote. The latest major update is its fiscal 2026 report, released on October 2, 2026. Revenue was USD 19.96 million, down 68.4%, made up of USD 18.42 million of product sales and USD 1.53 million of service income, so product sales were about 92% of the total, simple arithmetic on the published split. The operating loss widened to USD 14.43 million from USD 6.33 million, and the net loss attributable to shareholders reached USD 11.62 million against USD 4.97 million. Gross margin fell to 20.2% from 43.3%, with product margin at 20.8% against 45.6%.

Why Sales Fell and Where Management Is Heading

Management blamed fewer Amazon orders, product Supply disruption, Tariff uncertainty and the February 2026 divestiture of GPM and its subsidiaries. The company is now shifting from passive digital-asset holdings toward AI infrastructure acquisition, financing, equipment leasing and related operations. It said digital-asset purchases will not be automatic or recurring and that it may hold, reduce or sell its bitcoin. Operating cash use was small at USD 163,000, investing cash use was USD 4.68 million and financing provided USD 6.54 million. Management expects cost reductions and restructuring to lower future cash needs and estimates fiscal 2027 net Lease payments at USD 0.8 million, though monthly interest on convertible notes continues. No numerical revenue or Earnings guidance was given.

Liquidity, Convertible Notes and the Next Report

The liquidity case relies on operations, existing cash, USD 4.7 million of financing after year end and up to USD 15 million of optional facility capacity, subject to conditions. Convertible notes can convert into shares at set prices, which dilutes existing holders if the stock rises, and optional capacity may not be available if conditions are not met. IPW is a micro-cap, so a small number of trades can move the price, spreads can be wide and quoted moves can reverse. With gross margin at only 20.2%, each dollar of sales leaves little to cover overhead, so the restructuring has to cut costs as well as stabilize volumes. A new Business line also carries execution risk, because leasing and financing of AI equipment demands capital, counterparties and technical expertise that differ from its E-commerce history. The fiscal first-quarter 2027 report is the next checkpoint; last year the equivalent release came on November 14, 2025, though the 2026 date is not confirmed.

Where Things Stand

iPower Inc. (NASDAQ:IPW) is down 9.46% in premarket trading most plausibly because investors are weighing a shrinking business, a pivot into unproven AI infrastructure leasing and Bitcoin exposure, and convertible note dilution, since no same-day filing was verified. Revenue fell 68.4% and the net loss widened to USD 11.62 million. Liquidity looks adequate for 12 months on management's view. The next catalyst is the first-quarter report and any Acquisition or financing announcement.