iPower Q1 Revenue Jumps 16% YoY To $17.4M, In-House Ventilation Line Strongest Category

Hydroponic equipment supplier and retailer iPower Inc. (NASDAQ: IPW) announced its financial results for the fiscal first quarter ended Sept.30, reporting a record first-quarter revenue of $17.4 million, up by 16% year-over-year.

The Duarte, California-based company attributed the increase to greater in-house product sales and increased sales of ventilation and nutrient products.

“From a product perspective, our in-house ventilation line was our strongest category during the quarter,” Lawrence Tan, CEO of iPower said. “This was a much smaller category for us prior to the pandemic, and its growth is a reflection of our superior product design and merchandising capability, as well as the work we put in to effectively …

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