Here is some news about ITP stock:
- Public Offering Announcement: IT Tech Packaging Inc. (ITP) announced the pricing of a public offering of 6,899,500 shares of its common stock at $0.20 per share, with gross proceeds expected to be approximately $1.4 million. The offering is set to close on May 14, 2025, and the company intends to use the net proceeds for working capital and other general corporate purposes12.
- Q1 2025 Earnings Results: IT Tech Packaging reported a revenue increase of 58.76% year-over-year to $10.90 million in Q1 2025, primarily driven by higher sales volume of corrugating medium paper. However, the gross profit decreased by 78.93% to $0.08 million, and the overall gross margin declined by 5.04 percentage points. The company reported a loss from operations of $3.38 million and a net loss of $3.50 million, with an earnings before interest, taxes, depreciation, and amortization (EBITDA) of $0.18 million4.
In conclusion, IT Tech Packaging has recently announced a public offering to raise capital and has reported earnings results with revenue growth but significant decline in gross profit and gross margin, resulting in a loss from operations and net loss.
6/5/2025 09:10pm
