Ispire Technology reported a solid Q3 2024 with total revenue of $30 million, up 24% year over year, driven by cannabis hardware growth (+57% to $11.9 million) and tobacco vaping sales (+9% to $18.1 million). The quarter featured meaningful strategic progress, including a joint venture with Berify and Chemular to advance age-verification and product authentication for e-cigarettes, and a collaboration with Acreage Holdings to deploy Ispire ONE technology in its U.S. retail network. The company closed a $12.3 million public offering in March to fund strategic initiatives and Malaysian manufacturing expansion, which aided a margin improvement to 20.4% (cannabis 27.4%, tobacco 15.8%). Despite revenue strength, near-term profitability remains challenged by higher operating expenses and a planned transition in the cannabis ecosystem (Ispire ONE deployment delays). Management removed formal guidance due to regulatory and implementation uncertainty, but signaled a path back to breakeven and sustainable growth by the September quarter, aided by Burna Boy co-branding, open systems expansion in the UK/EU, and PMTA activity. Overall, the near-term focus centers on margin discipline, execution of hardware upgrades, cash-flow management through a stricter deal desk, and monetizing strategic partnerships while navigating regulatory headwinds.