Ispire Technology (NasdaqCM:ISPR) opened Q2 2026 with total revenue of about US$20.3 million and a basic EPS loss of US$0.12, alongside a net income loss of roughly US$6.6 million. This frames a clear focus on how efficiently that revenue is translating into earnings. The company has reported quarterly revenue between about US$20.1 million and US$41.8 million over the past six reported periods, while basic EPS has ranged from a loss of US$0.06 to a loss of US$0.26, giving investors a concrete record of top line scale and persistent bottom line pressure. With trailing twelve month revenue near US$97.0 million against a loss of about US$35.5 million, the key question this quarter is whether margins can tighten enough for that revenue base to have a greater impact on results.

See our full analysis for Ispire Technology.

With the latest figures on the table, the next step is to compare them with the prevailing narratives around Ispire Technology to see which stories the numbers support and which ones they begin to challenge.

TTM loss of US$35.5 million keeps profitability in focus

• On a trailing twelve month basis to Q2 2026, Ispire reported total revenue of about US$97.0 million against a net income loss of roughly US$35.5 million, which keeps attention squarely on how much of each revenue dollar is being absorbed by costs.
• Critics highlight that losses have worsened over the past five years at around 62.8% per year, and the latest TTM loss of US$35.5 million alongside revenue under US$100 million supports that cautious view. At the same time, the forecast revenue growth of about 45.1% each year sets up a clear tension between growth potential and the current lack of earnings.

Q2 revenue of US$20.3 million sits against rising five year loss trend

• Q2 2026 revenue of about US$20.3 million came with a net income loss of roughly US$6.6 million and basic EPS of US$0.12 loss. This sits within a six quarter range where revenue has moved between about US$20.1 million and US$41.8 million while EPS has stayed in loss territory between US$0.06 and US$0.26 loss.
• Bears point to the five year pattern of losses worsening by 62.8% per year, and the fact that Q2 2026 EPS loss of US$0.12 comes after earlier quarters such as Q4 2025 with a loss of US$0.26 per share and Q3 2025 with a loss of US$0.19 per share underlines that the company has not yet shown a sustained move out of loss making despite periods of higher quarterly revenue such as US$41.8 million in Q2 2025.
• That backdrop supports concerns that even when quarterly revenue has been close to or above US$40 million, like Q1 and Q2 2025, net income still showed losses between about US$5.6 million and US$8.0 million.
• With the current share price at US$3.37 and no positive EPS in any of the reported periods, bears focus less on valuation multiples and more on whether the business model can absorb operating costs at this revenue scale.

Stay on top of how these loss trends interact with the more cautious market arguments by reading the detailed bear case view for Ispire Technology. 🐻 Ispire Technology Bear Case

Negative equity, sub 1 year cash runway and a 2x P/S

• Alongside negative shareholders’ equity and less than one year of cash runway, the shares trade on a P/S of 2x, which sits slightly above the peer average of 1.9x but below the Global Tobacco industry average of 2.5x.
• What stands out for a bullish angle is that forecast revenue growth of about 45.1% each year is expected to outpace an assumed 10.2% for the wider US market. However, the current 2x P/S and TTM revenue of around US$97.0 million alongside a TTM loss of about US$35.5 million mean that any growth focused view has to weigh that faster top line path against the balance sheet constraints of negative equity and a cash runway of under one year.
• Supporters of the growth story point to that 45.1% forecast revenue growth gap over the 10.2% market figure, but the company’s unprofitable status and multi year loss trend limit how far that argument can lean purely on sales expansion.
• The valuation sitting between peers and the broader industry, combined with share price volatility over the past three months, reflects that the market is already balancing those growth forecasts against the financial risks on the balance sheet.

If you want to see how others interpret this mix of rapid forecast growth, negative equity, and a 2x P/S, check the full range of perspectives in the consensus style narrative for Ispire Technology. 📊 Read the full Ispire Technology Consensus Narrative.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Ispire Technology's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

See What Else Is Out There

Ispire Technology is still posting sizeable losses on roughly US$97.0 million of trailing twelve month revenue, with negative equity and a cash runway under one year.

If you are concerned about that combination of ongoing losses and balance sheet pressure, compare it with companies in our solid balance sheet and fundamentals stocks screener (45 results) that aim to pair financial resilience with fundamentals right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.