IPW

• Strengthened operational foundation during the quarter while navigating cautious demand environment.
• Accelerated efforts to diversify supply chain by expanding manufacturing into U.S., onboarding U.S.-based suppliers, and cultivating relationships with alternative suppliers in other geographies.
• SuperSuite business showing solid momentum, accounting for ~20% of total revenue mix, with continued additions to capabilities like expanding fulfillment network through new warehouse locations.
• Launched Made in USA module in SuperSuite to support domestic manufacturing setup, compliance, and sales channel access.
• Implemented targeted initiatives to reduce expenses and streamline operations, leading to 15% reduction in operating expenses in fiscal Q3.

• Disciplined approach to capital allocation while strengthening operational foundation and building robust supply chain.
• Proactive diversification across suppliers and sales channel to manage near-term volatilities.
• Confident in navigating current market environment with SuperSuite momentum and ongoing supply chain efforts to support long-term growth.

Total revenue in fiscal third quarter 2025 was $16.6 million, down from $23.3 million in the prior year. Gross profit was $7.2 million compared to $10.3 million in the same quarter of fiscal 2024. Gross margin was 43.3% versus approximately 47% in the year-ago period. Total operating expenses in fiscal Q3 improved 15% to $7.4 million, down from $8.8 million in the same period of fiscal 2024. Net loss attributable to iPower in fiscal third quarter was $340,000, or a loss of $0.01 per share, compared to net income of $1 million, or a profit of $0.03 per share in the same period of fiscal 2024. SuperSuite now accounts for approximately 20% of the total revenue mix.

• Forward-looking statements subject to inherent uncertainties, risks from difficult-to-predict changes in circumstances, and external factors outside control. Actual results may differ materially from forward-looking statements. Risks described in SEC filings, including annual report on Form 10-K.

Q: Understand the diversified supply chain and manufacturing, what is the respective exposure to different geographies based on fiscal third quarter sales?

A: Southeast Asia is growing, but most supplies still come from China; U.S.-based suppliers onboarded but most manufacturers still from China, with efforts to further diversify.

Q: You've been reducing inventory, but still have large inventory in U.S. How does this place you compared to largest channel partner in terms of reordering?

A: U.S. inventory is critical to balance demand; aim for reasonable, efficient inventory level of two to three months to navigate macroenvironment without overstocking or betting on political events.

Q: On Made in USA, what is your level of expertise to help with manufacturing consulting?

A: Have established sales channels, product capabilities, data-driven approach, and understanding of local policies/laws; involved heavily in Made in USA effort with sales channels, product expertise, and local resource access to successfully launch manufacturing plants in U.S.