Ispire Technology Inc. (NASDAQ:ISPR) Q3 2024 Earnings Conference Call May 15, 2024 8:00 AM ET
Company Participants
Michael Wang - Co-Chief Executive Officer
Daniel Machock - Chief Financial Officer
Conference Call Participants
Scott Fortune - ROTH MKM
Bo Pei - US Tiger Securities
Operator
Hello everyone and welcome to today's Conference Call to discuss Ispire's Financial Results for its Fiscal Third Quarter 2024 ended March 31st, 2024. At this time, I would like to inform you that this conference is being recorded and that all participants are in a listen-only mode. We will be facilitating a question-and-answer session following the prepared remarks from the company.
Joining us today are Mr. Michael Wang, the company's co-CEO, and Mr. Daniel J. Machock, the company's CFO. First, Mr. Wang will brief you on the company's key highlights, and then Mr. Machock will review the company's financial results.
Before we begin, I would like to remind you that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact in its announcement, are forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the company in terms of its experience and its perception of historical trends, current conditions, and expected future developments, as well as other factors that the company believes are relevant. These forward-looking statements involve known and unknown risks and uncertainties, and many factors could cause the company's actual results or performance to differ materially from those expressed or implied by the forward-looking statements.
Further information regarding this and other risk factors are included in the company's filings with the SEC. The company undertakes no obligation to update forward-looking statements to reflect subsequent or current events or circumstances or to change in its expectation, except as may be required by law.
I would now like to turn the call over to Mr. Wang. Mr. Wang, please go ahead.
Michael Wang
Thank you, operator, and thank you all for joining us this morning. During the fiscal third quarter, we continued building the foundation for future growth while maintaining our momentum in financial performance.
Total revenue reached $30 million. That's an increase of 24% over the same three-month period last year. The quarter saw cannabis hardware revenue increase by 57% to $11.9 million compared to the same three-month period last year. While tobacco vaping products grew 9% to $18.1 million.