By Chris Wack
Ispire Technology shares dropped 10% to $10.43 after the company reported a second-quarter loss that was wider than the same quarter last year.
The vapor technology company said it had a quarterly loss of $4 million, or seven cents a share, compared with a loss of $130,000, or one cent a share, in the same quarter last year.
Revenue for the quarter came in at $41.7 million, compared with last year’s $31.9 million.
The company said revenue for cannabis vaping products for fiscal 2024 is projected to be $80 million to $90 million, representing growth of 100% to 125% from fiscal year 2023. Revenue for tobacco vaping products for fiscal year 2024 is projected to be $95 million to $105 million, a growth of 33% to 47% from fiscal year 2023.
Write to Chris Wack at [email protected]