A company still losing money with shrinking sales, with high risk.
Watch out for
Late annual report notice
Late quarterly report notice
Share count growing 70.4% a year (dilution)
Money moves
No insider buying or selling in the last 30 days
Institutions added 106% to their holdings in the quarter ending June 2026 (3 bought, 3 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$2.99
Company value
$4M
Share price times all shares
Price vs sales
0.16x
No profit over the last year, so this compares value with sales instead
Cash vs value
13%
Cash as a share of company value
Debt vs value
95%
Debt as a share of company value
From IPW's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26 (worked out from yearly totals)
$1.4M-86% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $24.1M, down 63% from the 12 months before. Over 5 years, sales grew about 9.6% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of IPW. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$14M
Profit in 5 years$1M
Price these guesses point to$10.49+251% vs $2.99 todayAbout +29% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 30% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/5Weak
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-7.9%
MissProfitable every yearSteady profits, not one good year.2 of 6 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$743K
MissShare count not growingNot diluting owners. Falling means buybacks.+394.8% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.43.3%
Revenue
$63.2M
-26.5% vs prior year
5-year growth
+9.6%/yr
revenue, per year
Total debt
$3.6M
Current ratio
1.83x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported May 20
Revenue
$1.4M
-86.5% YoY
EPS
-$340.84
vs -$339.22
Op. margin
-648.0%
-614.9 pts
Gross margin
-195.2%
-237.5 pts
Free cash flow
-$594K
Some values are worked out from year-to-date totals in the annual report.
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
60/ 100
This week
2
Normal week
1.3
vs normal
1.5x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+105.5%
Institutions added 105.5% to their holdings. 3 bought, 3 sold. 2 quarters of net buying in a row.
Shares held by institutions71K
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+70.4%
Cash runwayAt last year's cash burn
35 months
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
1M
Why high risk
Losing money, losses are large next to sales
Share count growing 70.4% a year (dilution)
Revenue down 68.4% from the year before
7 offering filings in 6 months (may sell new shares)
Late annual report notice
Late quarterly report notice
Earnings reports
Last 12
Next reportNot enough history
Results filedMay 20
Results filedFeb 20
Results filedNov 14, 2025
Results filedMay 15, 2025
Results filedFeb 13, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days