Ispire Technology Inc. (NASDAQ:ISPR) Q4 2024 Results Conference Call September 26, 2024 8:00 AM ET
Company Participants
Michael Wang - Co-CEO
Jim McCormick - CFO
Conference Call Participants
Scott Fortune - ROTH Capital Partners
Bo Pei - US Tiger Securities
Pablo Zuanic - Zuanic & Associates
Operator
Hello, everyone, and welcome to today's conference call to discuss Ispire's Financial Results for the Fiscal Year 2024 Ended June 30, 2024. At this time, I'd like to inform you that this conference call 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. Jim McCormick, the company's CFO. First, Mr. Wang will brief you on the company's key highlights, and then Mr. McCormick 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 the statements of historical facts 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 changes in its expectation, except as may be required by law.
I would now like to turn the call over to Mr. Michael Wang. Mr. Wang. Please go ahead.
Michael Wang
Thank you, operator, and thank you all for joining us this morning.
Fiscal year 2024 was a foundational year for Ispire. As we achieved strong results, with record-breaking revenue and sustainable margin expansion. We reported record revenue of $151.9 million, a 31.4% year-over-year growth, all of which was organic growth.
This organic growth was primarily driven by an increase in sales in the United States, Europe and South Africa. This increase in revenue was accompanied by notable margin expansion. And we reported a gross margin of 19.6% an increase from 18.0% in the previous fiscal year, mainly driven by product mix and the sales leverage as well as the beginning effects of our Malaysian operations.