This Cannabis Vaporizer Stock Grew 30% in Latest Earnings
Join TDR’s Trade To Black Podcast for an in-depth conversation with Ispire Technology Co-CEO Michael Wang. Ispire Technology is a global leader in vaporizer technology for cannabis and tobacco, and Michael Wang sits at the mic to outline the latest earnings report.
Get to know Ispire Technology and team, which is engaged in R&D, design, commercialization, sales, marketing and distribution of both branded e-cigarettes, under the Aspire brand name, and cannabis vaping products. The company began trading on NASDAQ under stock symbol ISPR on April 4, 2023.
We get a recap on some of the highlights of Ispire’s Q2 earnings. Total revenue for the fiscal second quarter of 2024 stands at $41.7m, and the revenue from North American cannabis vaping hardware has increased by 149%. This represents a 30% growth from the previous quarter. Tune in for more details from the report on how much of this is coming from cannabis.
Get more insider knowledge on the vaporizer industry’s growth, particularly when it comes to cannabis products, and how the company stays competitive and lean. At the start of February, Ispire Technology announced the opening of a new ISO- and GMP-certified 31,000 sqft manufacturing facility in Malaysia. This facility is expected to help expedite market entry for business seeking to enhance cannabis and nicotine product lines. It also enables them to avoid 25% tariffs.
In their marketing efforts, at the end of last year, Ispire announced a collaboration with social influencer and Nigerian singer and songer writer Burna Boy. This Nigerian Afrobeats legend is linked to Snoop Dogg, and he features over 40m followers across his social platforms.
Michael Wang shares his belief that the company’s technology is responsible for their outpacing other vaporizer companies in the sector, and that Ispire Technology will be producing a $1 billion dollars in revenue in the next 3 years. Also: blockchain? How does Ispire aspire to leverage blockchain authentication.
This and more when you tune in to this exciting episode with Michael Wang, co-CEO of Ispire Technology!
