Q3 2025 iPower Inc Earnings Call
Operator: Good afternoon, everyone, and thank you for participating in today's conference call to discuss iPower's financial results for its fiscal third quarter 2025 and in March 31st, 2025.
Good afternoon, everyone and thank you for participating in today's conference call to discuss I powers financial results for its fiscal third quarter 2025, and in March 31st 2025, G yesterday, our eye powers, Chairman and CEO, Mr. Lawrence Tan and the company's CFO Mr. Kim.
Operator: Joining us today are iPower's Chairman and CEO, Mr. Lawrence Tan, and Accompanying CFO, Mr. Kevin Vassily.
Kevin Vassily: Mr. Vassily, please go ahead. Thank you, Victor.
Speaker Change: Actually Mr. Badgley. Please go ahead.
Kevin Vassily: Good afternoon, everyone. By now, everyone should have The release of our fiscal third quarter 2025 earnings issued earlier today at approximately 4.05 p.m. Eastern time. releases available in the investor relations section of our website at meetipower.com. This call will also be available for webcast replay on our website.
Speaker Change: Thank you Victor and good afternoon, everyone.
Speaker Change: By now everyone should have.
Speaker Change: Sin the release of our fiscal third quarter 2025, our earnings issued earlier today at approximately 405 P M Eastern time.
Speaker Change: Leases available in the Investor Relations section of our website at meet high power Dot Com. It's.
Speaker Change: This call will also be available for webcast replay on our website.
Kevin Vassily: Following our prepared remarks, we'll open the call for your questions.
Speaker Change: Following our prepared remarks, we'll open the call for your questions.
Kevin Vassily: 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. They are based only 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. are difficult to predict, and many of which are outside of our control.
Laurence: Before I introduce Laurence 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.
Laurence: Forward looking statements are neither historical facts, nor assurances of future performance.
Laurence: Instead, they are based only on our current beliefs expectations and assumptions regarding the future of our business.
Laurence: Plans and strategies projections anticipated events and trends.
Laurence: State of the economy and other future conditions.
Laurence: Forward looking statements relate to the future theyre subject to inherent uncertainties risks and changes in circumstances that are different.
Laurence: To predict and many of which are outside of our control.
Kevin Vassily: Our actual results and financial condition may differ materially from those indicated in these forward-looking statements.
Laurence: Our actual results and financial condition may differ materially from those indicated in these forward looking statements.
Kevin Vassily: These forward-looking statements are also subject to other risks and certainties 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 on September 20, 2024, and that place under-reliance on any forward-looking statements which are being made only as of the date of this call. except as required by law. The company undertakes no obligation to revise or publicly release the results of any revision to any forward-looking.
Laurence: 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.
Laurence: Including our annual report on Form 10-K, which was filed with the SEC at September 20th 2024.
Laurence: Undue reliance on any forward looking statements, which are being made only as of the date of this call except as required by law. The company undertakes no obligation to revise or publicly release the results of any revision to any forward looking statements with that I'd like to now turn the call over to <unk>, Chairman and CEO Martin Lawrence.
Lawrence Tan: With that, I'd like to now turn the call over to iPower's Chairman and CEO, Lauren Stanton. Thank you, Kevin, and good afternoon, everyone. We took important steps to strengthen our operational foundation during the quarter, even as we navigated a more cautious demand environment. In response, we have accelerated efforts to diversify our supply chain by expanding manufacturing into the U.S., onboard more U.S.-based suppliers, as well as continuing to cultivate relationships with alternative suppliers in other geographies. These actions are central to our strategy to build a more agile and durable supply chain capable of supporting long-term growth and reducing exposure to external volatility.
Speaker Change: Thank you, Kevin and good afternoon, everyone.
Martin Lawrence: We took important steps to strengthen our operational foundation during the quarter.
Speaker Change: Even as we navigated a more cautious demand environment.
Speaker Change: In response, we have accelerated efforts to diversify our supply chain.
Speaker Change: Spending manufacturing into the U S onboard more U S based suppliers as well as continuing to cultivate relationships with alternative suppliers in other geographics.
Speaker Change: These actions are central to our strategy to build a more agile and durable supply chain capable of supporting long term growth and reducing exposure to external volatility.
Lawrence Tan: In our super sweet business, we continue to see solid momentum reflecting both the strengths of our platform and the growing demand for our market leading solutions. SuperSuite now accounts for approximately 20% of our total revenue mix, a significant milestone that underscores the accelerating adoptions of our integrated supply chain offering. As a tech-based, data-driven platform, SuperSuite empowers our partners with the infrastructure, intelligence, and executional support needed to scale effectively in today's fast-paced e-commerce environment. During the quarter, we continued to add depth into our super suite capabilities by implementing key functions from value-added partners across logistics, merchandising, and data analytics to further enhance our services.
Speaker Change: In our Super Sweet business, we continue to see solid momentum.
Speaker Change: Reflecting both the strength of our platform and the growing demand for our market leading solutions.
Speaker Change: Super Sweet now accounts for approximately 20% of our total revenue mix of <unk>.
Speaker Change: And if it can milestone that underscores the accelerating adoption of our integrated supply chain offerings.
Speaker Change: As a tech based data driven platform Super Sweet empowers our partners with the infrastructure intelligence and execution will support needed to scale effectively in today's fast paced e-commerce environment.
Speaker Change: During the quarter, we continued to add depth into our super sweet capabilities by implementing key functions from value added partners across logistics merchandising and data analytics to further enhance our services.
Lawrence Tan: As an example, we recently extended our National Fulfillment Network through newly onboarded warehouse locations, enabling faster and more cost-efficient delivery across key region markets. These additions are not just incremental improvements but strategic components that make SuperSuite a more sophisticated, more connected, and more agile ecosystem. The purpose of SuperSuite is simple, deliver a turnkey solution that enables our partners to scale faster, operate more efficiently, and stay ahead of evolving consumer expectations. By building a seamless bridge between supply chain input and e-commerce execution, we are not only improving outcomes for our partners, but also positioning SuperSuite as a go-to solution for emerging brands looking to compete in a data-driven omni-channel world.
Speaker Change: As an example, we recently extended our national fulfillment network through newly on boarded that warehouse locations, and enabling faster and more cost efficient delivery across key leisure markets.
Speaker Change: These additions are not just incremental improvements improvements plus strategic components that makes super suite of more sophisticated more connected and Marcelo ecosystem.
Speaker Change: Okay.
Speaker Change: The purpose of Super Sweet is simple.
Speaker Change: Our.
Speaker Change: Turnkey solution that enables our partners to scale faster.
Speaker Change: For a more efficiently and stay ahead of evolving consumer expectations.
Speaker Change: By building, a seamless bridge between supply chain input and e-commerce execution.
Speaker Change: We are not only improving outcomes for our partners, but also positioning Super suite as a go to solution for emerging brands looking to compete in a data driven omnichannel world.
Lawrence Tan: As we announced earlier this week, we further expanded the SuperSuite capabilities with the Made in USA module. Made in USA is designed to facilitate the establishment and expansion of domestic manufacturing lines by offering comprehensive support in areas such as legal and regulatory compliance. Facility Sourcing and Setup. local management and labor sourcing, funding opportunities, and access to both online and offline sales channels. By providing these critical resources, we are bridging the gap for manufacturers and supply chain partners who are considering domestic production but may lack of infrastructure or guidance to do so effectively. The initiative serves as a cornerstone of SuperSuite's broader supply chain solution and aligns with the increasing global focus on reshoring as a critical lever for supply chain resilience.
Speaker Change: As we announced earlier this week, we further expanded the super suites capabilities with a made in USA module.
Speaker Change: Yeah.
Speaker Change: Maybe you assay is designed to facilitate the establishment and expansion of domestic manufacturing lines by offering comprehensive support in areas, such as legal and regulatory compliance.
Speaker Change: Facility sourcing and shut up.
Speaker Change: Our local management and labor sourcing.
Speaker Change: Funding opportunities and access to both online and offline sales channels.
Speaker Change: By providing these critical resources collaboration the gap for manufacturers and supply chain partners, who are considering domestic production, but may lack of infrastructure or guidance to do so effectively.
Speaker Change: The initiatives serves as a cornerstone of the Super suites broader supply chain solution and aligns with the increasing global focus on restoring as a critical lever for our supply chain resilience.
Lawrence Tan: As manufacturers seek to diversify operations, reduce dependency on international logistics, and respond to shifting geopolitical dynamics, the Made in USA module provides a much-needed platform to bring advanced manufacturing skills and capabilities to U.S. soil. As the first of several planned collaborations under the Make in USA platform, we are actively engaging with a sales partner that has an existing sales team here in the US and established a customer base. and a manufacturing partner to establish a comprehensive domestic production line. This partnership will leverage our robust support infrastructure, aiming to integrate manufacturing expertise from international partners while utilizing iPower's established sales and fulfillment network to scale production effectively.
Speaker Change: As manufacturers seeks to diversify operations reduce dependency on international logistics and respond to shifting geopolitical dynamics Doug.
Doug: Maybe USA module provides a much needed a platform to bring advanced manufacturing skills and capabilities to U S soil.
Doug: As the first of several planned the collaborations that you've made in USA platform. We are actively engaging with our sales partner that has an existing sales team here in the U S and the established customer base.
Doug: Our manufacturing partner to establish a comprehensive domestic production line.
Doug: This partnership will leverage our robust support infrastructure aiming to integrate manufacturing expertise from international punters, while utilizing <unk> Power's established sales and fulfillment network to scale production effectively.
Lawrence Tan: This deal represents the initial step in a series of strategic initiatives aimed at attracting manufacturers and supply chain partners to the United States. At the operating level, we are implementing targeted initiatives aimed at reducing expenses and streamline operations. laying the groundwork for improved margin and greater efficiency. Our commitment to enhancing operational efficiency and building a more resilient, adoptable supply chain remains a strategic priority. A core element of this approach is supplier diversification. which reduces relies on any single region and enhances our agility in responding to global disruption. Late last year, we expanded our manufacturing footprint into Southeast Asia, establishing new partnerships that are already showing early signs of promise.
Doug: This deal represents the initial setup.
Doug: Step in a series of strategic initiatives aimed at attracting manufacturers and supply chain partners to the United States.
Doug: At the operating level, we are implementing targeted initiatives aimed at reducing expenses and streamline operations.
Doug: Laying the groundwork for improved margin and greater efficiency.
Doug: Our commitment to enhancing operational efficiency and building a more resilient.
Doug: Adoptable of supply chain remains a strategic priority.
Doug: A core element of this approach is supplier diversification.
Doug: Which reduces reliance on any single region and enhances our agility in responding to global disruptions.
Doug: Late last year, we expanded our manufacturing footprint into southeast Asia, establishing new partnerships that are already showing early signs of promise.
Lawrence Tan: More recently, we have taken the initial steps towards developing a domestic manufacturing facility here in the U.S., a step that not only aligns with our long-term cost management goals, but also positions us to respond more quickly to shifts in customer demands, improve lead times, and further insulate our operations from geopolitical and logistical risks. As our supplier base continues to broaden, and we begin to scale purchasing with new partners, we anticipate a range of operational benefits, including more favorable products and economics, and streamlined logistics. Additionally, a more agile and cost-efficient supply chain will enhance our ability to deliver value to both our customers and bottom line, enabling more competitive pricing and stronger margin performance.
Doug: More recently, we have taken the initial steps towards developing a domestic manufacturing facility here in the U S.
Doug: That not only aligns with our long term cost management goals, but also positions us to respond more quickly to shifts in customer demands.
Doug: Lead times and further insulate our operations from geopolitical and logistical risk.
Doug: As our supplier base continues to broaden and we begin to scale purchasing with new partners, we anticipate a range of operational benefits, including more favorable product set and economists and streamlined logistics.
Doug: Additionally, a more agile and cost efficient supply chain will enhance our ability to deliver value to both our customers and bottom line.
Blake: And then Blake more competitive pricing a stronger margin performance.
Lawrence Tan: We remain focused on building a diverse global supplier network that supports the continued growth of our business with the flexibility to adapt a dynamic operating environment. Looking ahead, we are taking a disciplined approach to capital allocation as we strengthen our operational foundation and build a more robust supply chain. While macro conditions remain uncertain, our proactive diversification across both suppliers and the sales channel positions us to effectively manage near-term volatility. We believe these initiatives, coupled with our accelerating momentum in SuperSuite and ongoing efforts to broaden our sales channel, will enable us to navigate the current market environment and execute our goals ahead.
Doug: We remain focused on building a diverse global supplier network that supports the continued growth of our business with the flexibility to adapt to a dynamic operating environment.
Doug: Looking ahead, we are taking a disciplined approach to capital allocation as we strengthen our operational foundation and build a more robust supply chain.
Doug: While macro conditions remain uncertain, our proactive diversification across both suppliers and our sales channel positions us to effectively manage near term volatilities.
Doug: We believe these initiatives coupled with our accelerating momentum in Super Sweet.
Doug: And ongoing efforts to broaden our sales channel will enable us to navigate the current market environment execute our goes ahead.
Kevin Vassily: I'll now turn the call over to our CFO, Kevin Vassily, to take you through our financial results in more details. Kevin. Thanks, Lawrence. Unless referenced otherwise, all variance commentary is in comparison to the year ago quarter. We dive right into the fiscal Q3 results. Total revenue in the fiscal third quarter of 2025 was $16.6 million compared to $23.3 million. prior year. Decrease was driven primarily by lower product sales to our largest channel partner, partially offset by growth. and our super sweet supply chain office. Gross profit in the fiscal third quarter of 2025 was $7.2 million compared to $10.3 million in the same quarter.
Kevin: I'll now turn the call over to our CFO, Kevin <unk> to take you through our financial results in more details and Kevin.
Kevin: Thanks, Lawrence unless referenced otherwise all variants commentaries in comparison to the year ago quarter.
Kevin: Let me dive right into the fiscal Q3 results.
Kevin: Total revenue in the fiscal third quarter of 2025 was $16 6 million compared to $23 3 million.
Kevin: Prior year decrease was driven primary primarily by lower product sales to our largest channel partner, partially offset by growth.
Kevin: And our Super Sweet supply chain offerings.
Kevin: Gross profit in the fiscal third quarter of.
Kevin: <unk> 2025, we set up <unk> 2 million compared to $10 3 million the same quarter.
Kevin Vassily: fiscal 2024. Percentage of revenue, gross margin was 43.3%. compared to roughly 47% in the year-ago period. Decreasing gross margin was primarily driven by an increase in services income.
Kevin: Fiscal 2024 as a percentage of revenue gross margin was 43, 3% compared to roughly 47% in the year ago period decrease in gross margin was primarily driven by an increase in services income in the quarter.
Kevin Vassily: Total operating expenses in fiscal Q3 improved 15% to $7.4 million, compared to $8.8 million for the same period in fiscal 2024. The decrease in operating expenses was driven primarily by lower general and administrative costs from our optimization initiatives, as well as lower selling and fulfillment expenses related to our largest channel. That loss attributable to iPower in the fiscal third quarter was $340,000. a loss of $0.01 per share, compared to net income attributable to iPower of $1 million. or a profit of $0.03 per share for the same period in fiscal year 2020.
Kevin: Total operating expenses in fiscal Q3 improved 15%.
Kevin: Seven 4 million compared to $8 8 million for the same period.
Kevin: Fiscal 2024 decrease in operating expenses was driven primarily by lower general and administrative costs from our optimization initiatives as well as lower selling and fulfillment expenses related to our largest channel partner.
Kevin: Net loss attributable to <unk> in the fiscal third quarter was 340000.
Kevin: Or a loss of one cents per share compared to net income attributable I power of $1 million.
Kevin: Or a profit of <unk> <unk> per share for the same period in fiscal 2024.
Kevin Vassily: Moving to the balance sheet. Cash and cash equivalents were $2.2 million at March 31, 2025, compared to $7.4 million at June 30, 2024. As a result of our consistent debt paydown, total debt was reduced by 43% to $3.6 million compared to $6.3 million as of June 30, 2021.
Kevin: Moving to the balance sheet cash and cash equivalents were $2 2 million at March 31, 2025, compared to $7 4 million.
Kevin: June 32024.
Kevin: As a result of our consistent debt pay down total debt was reduced by 43% to $3 6 million compared to $6 3 million as of June 32024.
Kevin Vassily: Summarize our financial performance. We were up against a fairly difficult comp year over year this quarter due to elevated purchasing volumes from our largest channel partner in the year ago. Despite this, we continue to realize meaningful benefits from the optimization. putting in place over the last fiscal year, resulting in a 15% reduction in operating expenses. Additionally, we further reduced our debt obligations by nearly 20% during the fiscal third quarter alone, reinforcing our commitment to strengthening the balance. for their ongoing efforts to diversify our supply chain, accelerating momentum in super suite and an optimized operating structure.
Kevin: Summarize our financial performance, we're up against a fairly difficult comp year over year. This quarter due to elevated purchasing volumes from our largest channel partner in the year ago period.
Kevin: We continue to realize meaningful benefits from the optimization initiatives, we've been putting in place over the last fiscal year.
Kevin: I think in a 15% reduction in operating expenses for fiscal Q3. Additionally, we further reduced our debt obligations by nearly 20% during the fiscal third quarter alone reinforcing our commitment to strengthening the balance sheet.
With our ongoing efforts to diversify our supply chain accelerating momentum in Super Sweet and optimize operating structure.
Kevin Vassily: We believe we're well-positioned to deliver long-term value to our customers in Charlotte.
Kevin: Yes, we believe we're well positioned.
Kevin: To deliver long term value to our customers and shareholders alike.
Operator: conclude their prepared remarks and we'll now open it up for questions. Thank you and at this time we will conduct a question and answer session. As a reminder to ask a question you will need to press star 1 1 on your telephone and wait for your name to be announced. To withdraw your question please press star 1 1 again. Please stand by while we compile the Q&A roster. One moment for our first question.
Kevin: This concludes our prepared remarks, and we'll now open it up for questions.
Kevin: Thank you and at this time, we will conduct a question and answer session. As a reminder to ask a question you will need to press star one on your telephone and wait for your name to be announced to withdraw. Your question. Please press star one again, please stand by we compile the Q&A roster.
Kevin: One moment for our first question.
Kunal Madhukar: Our first question will come from the line of Kunal Madhukar from Water Tower Research. Your line is open. Hi, thank you for taking the questions. A couple, if I could. One would be...
Speaker Change: Our first question will come from the line of Kunal mud Hooker from water Tower Research. Your line is open.
Speaker Change: Alright, Thank you for taking the questions a couple if I could one would be.
Kunal Madhukar: to understand, now that you have diversified your supply chain and manufacturing, what was the, what is the respective exposure to the different geographies based on, you know, the sales that you did in the fiscal third quarter? How much was that was coming from different countries and, you know, and where is the exposure? Okay, it's the Southeast Asia are growing, but right now still most, like majority of the supplies coming from the China. We have US-based suppliers now onboarded. So it's still the most are from China. The 20% of the services are mostly delivered here for us to sell, but the imported ones, most of the manufacturers are from China still.
Speaker Change: Two.
Speaker Change: Now that you have diversified your supply chain and manufacturing.
Speaker Change: Most of what we would've expected a exposure to the different geographies.
Speaker Change: Based on the sale that you did in <unk>.
Speaker Change: Fiscal third quarter.
Speaker Change: Which was that was coming from different countries.
Speaker Change: Greater exposure.
Speaker Change: Okay.
Speaker Change: It's the southeast Asia.
Speaker Change: Growing but right now still most.
Speaker Change: Like a majority of supplies coming from.
Speaker Change: The China.
Speaker Change: We have a U S based suppliers now on boarded.
Speaker Change:
Speaker Change: So it's still the most of them are from China.
Speaker Change: The 20% of our services.
Speaker Change: Ah mostly.
Speaker Change: Delivered here for us to to sell.
Speaker Change: The imported ones.
Speaker Change: Most of our manufacturers Assam, China still we are on the.
Lawrence Tan: We are on the ways to diversify that further. got it.
Speaker Change: Our our ways to diversify that further.
Speaker Change: Yes.
Lawrence Tan: And then, you know, you've been you've been trying to reduce your inventory, but you're still probably sitting on on of the Cloud. Our U.S. inventories is a critical part to compensate any products that other channel partners do not have enough inventory. So it's very important to keep adequate inventories in the U.S. to balance the overall demand. My take to navigate across the robust macro environment is that we should not overstock or try to bet on any political influenced events. Instead, we keep operating with a very reasonable, efficient inventory levels, usually two to three months. That's that's my goal.
Speaker Change: Got it.
Speaker Change: And then.
Speaker Change: You can you can trying to reduce your inventory, but youre still probably sitting on on.
Speaker Change: Large amount of inventory how does that place you in that inventories already in the U S. So how does that place you competitively.
Speaker Change: As far as your largest channel partner is concerned in terms of relative heights to reorder.
Speaker Change: You added retarded, maybe the clauses and the cheapest to reorder from.
Speaker Change: The our U S inventories as a critical parts to compensate.
Speaker Change: Any.
Speaker Change: Alex that's in.
Speaker Change: That other.
Speaker Change: Channel partners do not have enough inventory. So it's it's very important to keep adequate inventories in.
Speaker Change: In U S two to balance that.
Speaker Change: Overall demand.
The Oh my takes all to navigate.
Speaker Change: Cross the robust Mac.
Speaker Change: Macro environment is that we we should not.
Speaker Change: Overstock.
Speaker Change: Or try to bet.
Speaker Change: Or any political influenced.
Speaker Change: Events in.
Speaker Change: Instead, we keep.
Speaker Change: Operating with.
Speaker Change: Very reasonable efficient inventory levels, usually two to three months.
Speaker Change: That's my goal.
Speaker Change: <unk>.
Lawrence Tan: betting or prepare for one way or the other in today's environment may result in unexpected results as they change from day to day and week to week. I totally understand that. In fact, they change from hour to hour, so it's... Predicting that is a tough one.
Speaker Change: Okay.
Speaker Change: Betting or or prepare.
Speaker Change: For one way or the other in today's environment May result unexpected.
Speaker Change: <unk> as they change from day to day and week to week.
Speaker Change: I totally understand that in fact, the changes from our two hours so.
Speaker Change: Predicting that.
Kunal Madhukar: Now, the other one, and I'm sorry, and this is the last one, this is on the Made in USA. So there are a number of things that you're doing, a number of initiatives within this in terms of helping setting up manufacturing facilities, maybe, you know, siting land and even with labor, trying to help other companies with labor. Now, you know, one of the key questions that people would potentially have is like, what is your level of expertise in the U.S. that you can help support a consulting business? where you are helping other people kind of navigate the tough manufacturing environment in the U.S.
Speaker Change: Now the other one sorry I'm. This is the last one this is on the made in USA. So there are a number of things that youre doing a number of initiatives.
Speaker Change: In terms of helping setting up manufacturing facilities.
Landon: Typing typing Landon.
Landon: Even even with labor trying to help other companies with labor now.
Landon: One of the key questions that people would actually have is like what is your level of expertise in the U S. That you can help support our consulting business, where youre, helping other people kind of navigate the tough.
Landon: Manufacturing environment in the U S.
Lawrence Tan: Right. We not only just provide consulting services, we heavily involve into this Made in USA effort. First of all, we have sales channels, established sales channels online, and we have established business partner relationships with offline big box retailers. And now we have B2B sales partners on board already. So that's number one, we have the sales channel. Number two, we have product capabilities, market research, analytical, data-driven approach that we have been doing for years. And thirdly, compared to the international manufacturers, we understand the local policies and laws, and we have access to resources and communication channels for a variety of different tasks that are very essential for setting up Made in USA.
Landon: Right.
Landon: We not only just provided consulting services, we heavily involved into.
Landon: This made the U S a efforts.
Landon: First of all we have a sales channel instead of a sales channels online and we have.
Landon: Established a business partner relationships with offline big box retailers and now we have.
Landon: <unk> B sales partners onboard already so that's number one we have in our sales channel number two we have a product.
Landon: Product capabilities market research analytical data driven approach so that we have been doing for years.
Landon: Certainly compare to.
Landon: The international manufacturers.
Landon: We understand the local policies and laws and we have access to resources.
And communication channels for a variety of different task with various social for setting up.
Lawrence Tan: So overall, from sales perspective, from product perspective, from setting up and local perspective, these are critical ones to successfully launch a manufacturing plant here. And I'm pretty excited. And with SuperSweet, that's already bringing us a lot of US-ready products for sales, which SuperSweet has contributed 20% of our sales as of today. And our soon-to-be-launched Made in USA production line in the pipeline, and the expansion of our Southeast Asia manufacturing, I think I'm pretty excited to have these diversified supply chains going on that become like majority of our mix. And by saying that, we also have other manufacturers who have established the locations here and are working with us on the sales side only, like they don't need help on the manufacturing setup parts.
Landon: USA so overall from a.
Landon: Sales perspective.
Landon: Perspective from setting up in local.
Landon: For perspective.
Landon: These are critical wireless stat.
Landon: Two to successfully launch <unk>.
Landon: Manufacturing.
Landon: Plumbed here.
Landon: I I have a pretty.
Landon: I'm pretty excited.
Landon: Super Sweet that's already bring us a lot of like you.
Landon: U S ready.
Landon: Products for sales, which which supersedes.
Landon: Contributed 20% of our self as of today and our soon to be launched like maybe use a production line.
Landon: And in the pipeline.
Landon: And the expansion of our southeast Asia manufacturing.
Landon: I think I'm pretty excited too to have these diversified.
Landon: Supply chains going all that.
Landon: Become like majority of borrower mix and by saying that we also have other manufacturers who have established.
The locations here and are working with us on the sale of society only they don't need help on the on the.
Lawrence Tan: They are much, much bigger and more sophisticated. But yeah, with all these works in place, we'll become a true global sourcing platform and sales primarily for the US market, bring the best values from all different parts of the world. That's great.
Landon: Manufacturing set up.
Landon: So they are much much bigger and more sophisticated.
Landon: But yeah with all these works in place will become a true global sourcing platform and sales.
Landon: <unk>, primarily in before at our U S market, bringing the past values from all different parts of the world.
Kunal Madhukar: Thank you so much.
Landon: That's great. Thank you so much.
Operator: Thank you.
Kevin Vassily: Now I'm not showing any further questions in the queue.
Landon: Thank you.
Kevin Vassily: I would now like to turn it back over to Kevin for closing remarks. Okay well thank you everyone for joining and we look forward to speaking again with everyone in September when we report our fiscal Q4 and full year results. Thanks again for joining. Goodbye.
Kevin: And I'm not showing any further questions in the queue I would now like just kind of back over to Kevin for closing remarks.
Kevin: Okay, well. Thank you everyone for joining and we look forward to speaking again with everyone in September when we report our fiscal Q4.
Kevin: And full year results.
Kevin: Again for joining goodbye.
Operator: Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Everyone have a great day. Thanks for watching!
Kevin: Thank you for your participation in today's conference. This does conclude the program you may now disconnect everyone have a great day.
Kevin: Okay.
Kevin: [music].