iPower Inc.

Snapshot

iPower is a small online hydroponics retailer whose revenue collapsed 70% to $20M in FY2026 after a 23% drop the year before, with a $14.4M operating loss and $11.6M net loss.

What's Happening Right Now

• Fri 2nd Oct '26 · 10-K filed: The FY2026 10-K disclosed two reverse splits in under four months, a sold-off GPM subsidiary, pledged crypto and cash collateral, and material weaknesses in internal financial controls.
• Mon 28th Sep '26 · Late filing: iPower told the SEC it needs extra time to file its FY2026 10-K and flagged a preliminary net loss of about $11.6 million, more than double FY2025's loss, driven by a revenue collapse, a goodwill impairment, and losses on note and crypto asset extinguishment.
• Tue 22nd Sep '26 · Shareholder vote: Stockholders approved a reverse split of up to 1-for-250 and authorization to issue up to $10 million in new shares, both aimed at avoiding Nasdaq delisting.
• Wed 9th Sep '26 · Dilution: A new filing registered resale of up to 9.6 million shares tied to convertible notes, representing roughly 91% of the pro forma share count, as iPower winds down its Bitcoin treasury in favor of AI infrastructure plans.
• Mon 3rd Aug '26 · AI pivot: iPower signed a non-binding letter of intent to lease GPU computer systems in an initial $6 million deal that could expand to $60 million, part of a pivot toward AI infrastructure leasing.