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Ispire Technology Inc.

For the period ended Jun 30, 2025. Filed Sep 15, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Sep 15, 2025

ISPR$1.55+8.4%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended June 30,2025

OR

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to ___________________

Commission file number:001-41680

Ispire Technology Inc.

(Exact name of registrant as specified in its charter)

Delaware93-1869878
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
19700 Magellan Drive, Los Angeles, CA90502
(Address of principal executive offices)(Zip Code)

(310) 742-9975

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:Trading Symbol(s):Name of each exchange on which registered:
Common Stock, par value $0.0001 per shareISPRThe Nasdaq Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

☐ Yes ☒No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

☐ Yes ☒No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

☒Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).

☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

☐ Yes☒ No

The aggregate market value of the voting and non-voting common equity held by non-affiliates, based on the closing price of a share of the registrant’s common stock on December 31, 2024, which is the last business day of the registrant’s most recently completed second fiscal quarter, as reported by the Nasdaq Capital Market on such date, was approximately $99,098,253.

As of September 15, 2025, there were 57,277,874 shares of the registrant’s common stock, par value $0.0001 per share (the “Common Stock”), outstanding.

TABLE OF CONTENTS

Page
PART I
Cautionary Note on Forward-Looking Statementsii
Summary Risk Factorsiv
Item 1.Business1
Item 1A.Risk Factors19
Item 1B.Unresolved Staff Comments36
Item 1CCybersecurity36
Item 2.Properties37
Item 3.Legal Proceedings37
Item 4.Mine Safety Disclosures37
PART II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities38
Item 6.[Reserved]39
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations39
Item 7A.Quantitative and Qualitative Disclosures About Market Risk46
Item 8.Financial Statements and Supplementary Data46
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure47
Item 9A.Controls and Procedures47
Item 9B.Other Information48
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections48
PART III
Item 10.Directors, Executive Officers and Corporate Governance49
Item 11.Executive Compensation54
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters59
Item 13.Certain Relationships and Related Transactions, and Director Independence60
Item 14.Principal Accounting Fees and Services60
PART IV
Item 15.Exhibits and Financial Statement Schedules62

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