I was wondering the same. Over the years I've noticed many of todays small engines dont offer much in regards to plug wire excess resulting in almost stretching the plug wire while removing the plug cap. Perhaps the cap has begun to pull away from the wire.the spark plug wire?
The on/off switch could be the culprit or possibly the low oil sensor has failed. Either can cause a no spark situation.
Also, can you confirm to us fuel is actually getting to the carb bowl by loosening and/or removing the bowl drain bolt.
Being new, does it have replacement warranty?