iPower Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss iPower's financial results for its fiscal first quarter 2025 and in September 30th, 2024. Joining us today are iPower's chairman and CEO, Mr. Lawrence Tan, and the company's CFO, Mr. Kevin Vasily. Mr. Vasily, please go ahead.

Thank you, Liz. Good afternoon, everyone. By now, everyone should have access to our fiscal first quarter 2025 earnings press release. which was issued earlier today at approximately 4 or 5 p.m. Eastern Time. The release is available in the investor relations section of our website at meetipower.com. This call will also be available for webcast replay on our website. Following our prepared remarks, we'll open the call for your questions. Before I introduce Lawrence, I'd like to remind listeners that certain comments Made on this conference call and webcast are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they're based on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the state of the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, and many of which are outside our control. Our actual results and financial condition may differ materially from those indicated in these forward-looking statements. These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC, including our annual report on Form 10-K, which was filed with the SEC today on November 14, 2024. Do not place undue reliance on any forward-looking statements which are being made only as of this date, except as required by law, the company undertakes no obligation to revise or publicly release the results of any revision to forward-looking statements. With that, I'd now like to turn the call over to iPower's chairman and CEO, Lawrence Tan. Lawrence?

Thank you, Kevin, and good afternoon, everyone. We maintained a solid momentum in the third quarter while continuing to refine our cost structure, leading to year-over-year gross margin expansion and a reduction in operating expenses. Additionally, we made progress expanding our SuperSuite supply chain platform. By onboarding key partners across the supply chain, we are enhancing our service capabilities, positioning SuperSuite as an increasingly valuable solution for our partners. We also broadened our sales reach by launching on AliExpress and further strengthened our presence on newer platforms such as TikTok Shop and Teemo, allowing our offerings with a diverse and expanding customer base. In our SuperSuite business, we continued to work through a robust pipeline of prospective partners, integrating essential components across sales channels, marketing, merchandising, logistics, technology, and data analytics to enhance our comprehensive service offerings. By adding these components, SuperSuite is equipped to address today's complex supply chain needs with a seamless end-to-end solution for e-commerce, supply chain management, and logistics. We are committed to strengthening each segment in the supply chain and sales, enabling our partner to navigate market needs, scale effectively, and better serve their customers. At the end of the quarter, we launched our SuperSweep supplier online platform which is designed to optimize supplier interactions, streamline operational workflow, and better align our partners with involving market demands. This platform enables suppliers to gain valuable data insight, access multiple sales channels, submit product offers, optimize shipment, and collaborate on merchandising plans, among other key features. This SaaS platform represents a transformative step in unlocking SuperSuite's full potential, enabling more seamless and impactful engagement between our suppliers, our team, and our clients. As I mentioned earlier, we continued to expand our sales channel by launching on AliExpress, granting our supply chain partners access to another major U.S. marketplace. AliExpress joins our growing list of U.S. sales channels, which includes platforms such as Amazon Vendor, Amazon 3P, Walmart.com, Team Teak Top Shop, and several others. We are committed to offering a robust multi-channel solution that enables our partners to reach U.S. consumers more effectively and efficiently. Launching sales on AliExpress further underscore our dedication to enhancing market access, and driving value across our entire platform. We continue to benefit from the optimizing initiatives implemented last fiscal year, which led to gross margin expansion and lower operating expenses for the quarter. We are also benefiting from a healthier supply chain environment and no longer need to maintain elevated inventory levels as lead times with our international suppliers have normalized. It's also worth noting that with the growth of SuperSuite, we can operate our business with lower level of inventories, leading to improved cash flow generation. As of September 30, 2024, we reduced our inventory levels by approximately 18% compared to June 30, 2024. As we mentioned before, we are firmly committed to optimizing our operations to maximize efficiency. To further this effort, we diversified our manufacturing base with a new partner in Vietnam, strengthening the resilience of a supply chain for both customers and partners. In September, we completed our first purchase order shipment from this new manufacturer, marking a significant milestone in our ongoing strategy to diversify our supply chain. As products begin to arrive in the US and commence sales, we anticipate benefiting from reduced production and logistics expense. These lowered costs will enable us to offer more competitive pricing while improving margins, an essential factor for long-term sustainable growth. Looking ahead, we will continue to bolster each aspect of SuperSuite platform to provide a market-leading solution that meets the evolving needs of e-commerce, supply chain management, and logistics. By strengthening these areas, we are not only driving efficiencies, but also building a more resilient infrastructure that can adapt to market changes and support scalable growth. This holistic approach positions us to better serve our partners' needs from inventory optimization to faster, more reliable fulfillment, further solidifying our roles as a leader in e-commerce and supply chain innovation. I will now turn the call over to our CFO, Kevin Vesely, to take you through our financial results in more detail. Kevin.