Ispire Technology Inc (ISPR) reported Q3 2023 results featuring a 24.4% year-over-year revenue increase to $30.0 million, alongside a continued EBITDA and net loss trajectory. Despite top-line growth, the company posted a negative operating margin of -18.9% and a net loss of -$5.95 million (-$0.11 per share). Operating cash flow was positive at $3.35 million and free cash flow reached $3.03 million, underscoring improving cash generation even as profitability remains elusive in the near term. The balance sheet displays a robust cash position (approximately $39.5 million) and a substantial intangible asset base, with net debt effectively negative (net cash ~-$35.45 million), but also a concerning concentration of intangibles and an unusual goodwill presentation that warrants careful disclosure review.