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Expion360 Reports Fourth Quarter and Full Year 2024 Financial Results

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Expion360 (XPON) reported Q4 2024 financial results with revenue of $2.0 million, up 131% from Q4 2023 and 43% sequentially from Q3 2024. The company's Q4 gross profit was $438,552 (22.1% margin), while net loss improved 88% to $251,647.

For full year 2024, revenue decreased 6% to $5.6 million, with gross profit at $1.2 million (20.5% margin). The company secured new OEM partnerships, including Scout Campers, and began shipping Home Energy Storage Solutions (HESS). A non-binding LOI was signed with NeoVolta for potential collaboration on battery manufacturing.

The company projects $5.0 million in incremental revenue for 2025 from new OEM partnerships and distributors, expecting to increase gross profits by $1.4 million. In January 2025, Expion360 closed a $2.6 million registered direct offering to strengthen its balance sheet.

Expion360 (XPON) ha riportato i risultati finanziari del Q4 2024 con un fatturato di 2,0 milioni di dollari, in aumento del 131% rispetto al Q4 2023 e del 43% rispetto al Q3 2024. Il profitto lordo del Q4 dell'azienda è stato di 438.552 dollari (margine del 22,1%), mentre la perdita netta è migliorata dell'88% a 251.647 dollari.

Per l'intero anno 2024, il fatturato è diminuito del 6% a 5,6 milioni di dollari, con un profitto lordo di 1,2 milioni di dollari (margine del 20,5%). L'azienda ha ottenuto nuove partnership OEM, tra cui Scout Campers, e ha iniziato a spedire Soluzioni di Stoccaggio Energetico per la Casa (HESS). È stata firmata una lettera di intenti non vincolante con NeoVolta per una potenziale collaborazione nella produzione di batterie.

L'azienda prevede 5,0 milioni di dollari di fatturato incrementale per il 2025 grazie a nuove partnership OEM e distributori, aspettandosi di aumentare i profitti lordi di 1,4 milioni di dollari. A gennaio 2025, Expion360 ha chiuso un'offerta diretta registrata di 2,6 milioni di dollari per rafforzare il proprio bilancio.

Expion360 (XPON) reportó resultados financieros del Q4 2024 con ingresos de 2.0 millones de dólares, un aumento del 131% en comparación con el Q4 2023 y del 43% secuencialmente desde el Q3 2024. La ganancia bruta de la compañía en el Q4 fue de 438,552 dólares (margen del 22.1%), mientras que la pérdida neta mejoró un 88% a 251,647 dólares.

Para el año completo 2024, los ingresos disminuyeron un 6% a 5.6 millones de dólares, con una ganancia bruta de 1.2 millones de dólares (margen del 20.5%). La empresa aseguró nuevas asociaciones OEM, incluyendo Scout Campers, y comenzó a enviar Soluciones de Almacenamiento de Energía para el Hogar (HESS). Se firmó una carta de intención no vinculante con NeoVolta para una posible colaboración en la fabricación de baterías.

La empresa proyecta 5.0 millones de dólares en ingresos incrementales para 2025 a partir de nuevas asociaciones OEM y distribuidores, esperando aumentar las ganancias brutas en 1.4 millones de dólares. En enero de 2025, Expion360 cerró una oferta directa registrada de 2.6 millones de dólares para fortalecer su balance.

Expion360 (XPON)은 2024년 4분기 재무 결과를 보고하며, 수익이 200만 달러로 2023년 4분기 대비 131% 증가하고 2024년 3분기 대비 43% 증가했다고 발표했습니다. 회사의 4분기 총 이익은 438,552달러(22.1% 마진)였으며, 순손실은 88% 개선되어 251,647달러에 달했습니다.

2024년 전체 연도 동안 수익은 6% 감소하여 560만 달러에 이르렀으며, 총 이익은 120만 달러(20.5% 마진)였습니다. 이 회사는 Scout Campers를 포함한 새로운 OEM 파트너십을 확보하고 가정용 에너지 저장 솔루션(HESS)의 배송을 시작했습니다. NeoVolta와 배터리 제조에 대한 잠재적 협력을 위한 비구속 LOI가 체결되었습니다.

회사는 2025년 새로운 OEM 파트너십 및 유통업체로부터 500만 달러의 추가 수익을 예상하고 있으며, 총 이익을 140만 달러 증가시킬 것으로 기대하고 있습니다. 2025년 1월, Expion360은 재무 상태 강화를 위해 260만 달러의 등록된 직접 공모를 마감했습니다.

Expion360 (XPON) a annoncé ses résultats financiers pour le Q4 2024, avec des revenus de 2,0 millions de dollars, en hausse de 131 % par rapport au Q4 2023 et de 43 % par rapport au Q3 2024. Le bénéfice brut de l'entreprise pour le Q4 était de 438 552 dollars (marge de 22,1 %), tandis que la perte nette s'est améliorée de 88 % pour atteindre 251 647 dollars.

Pour l'année entière 2024, les revenus ont diminué de 6 % pour atteindre 5,6 millions de dollars, avec un bénéfice brut de 1,2 million de dollars (marge de 20,5 %). L'entreprise a sécurisé de nouveaux partenariats OEM, y compris Scout Campers, et a commencé à expédier des Solutions de Stockage d'Énergie à Domicile (HESS). Une lettre d'intention non contraignante a été signée avec NeoVolta pour une collaboration potentielle dans la fabrication de batteries.

L'entreprise prévoit 5,0 millions de dollars de revenus supplémentaires pour 2025 grâce à de nouveaux partenariats OEM et distributeurs, s'attendant à augmenter les bénéfices bruts de 1,4 million de dollars. En janvier 2025, Expion360 a clôturé une offre directe enregistrée de 2,6 millions de dollars pour renforcer son bilan.

Expion360 (XPON) hat die finanziellen Ergebnisse für Q4 2024 veröffentlicht, mit einem Umsatz von 2,0 Millionen Dollar, was einem Anstieg von 131% im Vergleich zu Q4 2023 und 43% im Vergleich zu Q3 2024 entspricht. Der Bruttogewinn des Unternehmens für Q4 betrug 438.552 Dollar (22,1% Marge), während der Nettoverlust um 88% auf 251.647 Dollar verbessert wurde.

Für das gesamte Jahr 2024 sank der Umsatz um 6% auf 5,6 Millionen Dollar, mit einem Bruttogewinn von 1,2 Millionen Dollar (20,5% Marge). Das Unternehmen sicherte sich neue OEM-Partnerschaften, darunter Scout Campers, und begann mit dem Versand von Home Energy Storage Solutions (HESS). Eine unverbindliche Absichtserklärung wurde mit NeoVolta für eine potenzielle Zusammenarbeit in der Batterieherstellung unterzeichnet.

Das Unternehmen prognostiziert 5,0 Millionen Dollar an zusätzlichem Umsatz für 2025 aus neuen OEM-Partnerschaften und Distributoren und erwartet, den Bruttogewinn um 1,4 Millionen Dollar zu steigern. Im Januar 2025 schloss Expion360 eine 2,6 Millionen Dollar registrierte Direktplatzierung ab, um die Bilanz zu stärken.

Positive
  • Q4 revenue grew 131% year-over-year to $2.0 million
  • Net loss improved 88% in Q4 2024 compared to Q4 2023
  • Secured new OEM partnerships expected to generate $5.0 million incremental revenue in 2025
  • Successfully raised $2.6 million through offering in January 2025
  • Began shipping Home Energy Storage Solutions (HESS) products
Negative
  • Full year 2024 revenue declined 6% to $5.6 million
  • Gross margin decreased from 26.3% in 2023 to 20.5% in 2024
  • Cash position declined to $0.5 million from $3.9 million year-over-year
  • Net loss increased to $13.5 million in 2024 from $7.5 million in 2023
  • Operating cash burn increased to $9.6 million from $5.5 million year-over-year

Insights

Expion360's Q4 results demonstrate promising momentum with 131% year-over-year and 43% sequential revenue growth to $2.0 million, indicating potential stabilization after earlier challenges. However, full-year performance reveals concerning fundamentals with annual revenue declining 6% to $5.6 million and gross margins compressing from 26.3% to 20.5%.

The company's net loss significantly widened to $13.5 million from $7.5 million, partly due to a $5.0 million suspended liability expense related to warrant complications. Cash burn accelerated with operating cash outflows increasing to $9.6 million from $5.5 million, while cash reserves dwindled to just $0.5 million by year-end. The January $2.6 million capital raise provides some breathing room but appears insufficient relative to the current burn rate.

The expansion into Home Energy Storage Solutions and new OEM relationships represent potential growth catalysts, with management projecting these new partnerships will generate incremental revenue of approximately $5.0 million in fiscal 2025. This strategic pivot makes sense given the challenging RV market conditions, but execution will be critical given the company's financial resources.

Expion360's entry into the Home Energy Storage Solutions market represents a strategic diversification beyond their RV battery core business. The timing aligns with growing residential energy storage demand and positions them to potentially benefit from regulatory tailwinds including California's Self-Generation Incentive Program and federal tax credits through the Inflation Reduction Act.

Their non-binding letter of intent with NeoVolta suggests a capital-efficient approach to scaling manufacturing capacity, pairing Expion360's design expertise with NeoVolta's financial resources and manpower. This could accelerate development of both domestic manufacturing capabilities and next-generation battery designs, though investors should note the preliminary nature of this arrangement.

The consecutive quarterly growth amid overall industry weakness suggests Expion360's lithium battery technology is gaining competitive traction in niche applications. However, the company faces intense competition from established battery manufacturers with greater scale and financial resources in both the RV and residential energy storage segments. Their ability to maintain technological differentiation while improving cost structures will be crucial, especially given the gross margin pressure evident in their 2024 results.

Q4 Sequential Revenue Growth of 43% Driven by New Products and Technologies, and 131% Year over Year

New OEM and Distributor Relationships to Equip New Campers and RVs with Advanced Lithium-Ion Batteries

Began Shipping e360 Home Energy Storage Solutions

REDMOND, Ore., March 31, 2025 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium-ion battery power storage solutions, today reported its financial and operational results for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter 2024 & Subsequent Financial & Operational Highlights

  • Q4 2024 revenue totaled $2.0 million, up 131% from Q4 2023, and 43% sequentially from Q3 2024.
  • Began fulfilling purchase orders for its Home Energy Storage Solutions (“HESS”).
  • Signed a non-binding letter of intent with NeoVolta Inc. (“NeoVolta”), a leading innovator in energy storage solutions, providing the framework for a potential collaboration that aims to engineer a state-of-the-art battery manufacturing facility and develop innovative lithium-ion battery cell and module product designs, marking a significant milestone in the production of American-made batteries.
  • Partnered with Scout Campers, a subsidiary of Adventurer Manufacturing, Inc., to equip its high-quality campers with Expion360’s advanced lithium-ion batteries as a standard option, enhancing the energy efficiency and reliability of Scout Campers’ products.
  • Added several new original equipment manufacturers (“OEMs”) and one new distributor reflecting successful ongoing sales efforts to expand customer base across the United States.
  • Closed a $2.6 million registered direct offering and private placement priced at the market under Nasdaq rules.

Management Commentary

"The fourth quarter of 2024 and early 2025 was highlighted by robust sequential revenue growth, a strengthened balance sheet, and the addition of new OEM customers,” said Brian Schaffner, Chief Executive Officer and Interim Chief Financial Officer of Expion360. “Revenue grew sequentially for a fourth consecutive quarter, improving 43% from Q3 2024, demonstrating the successful execution of our efforts to expand sales with our more than 300 resellers across the United States, consisting of dealers, wholesalers, private-label customers and OEMs who then sell our products to end consumers. Year-over-year sales continued to be impacted by the downturn in the RV market with the persistence of high interest rates. We believe the RV market will continue to gain ground through 2025, with shipments remaining steady in the short term and increasing traction heading into next year. In January we took the opportunity to strengthen our balance sheet with the close of a $2.6 million registered direct offering and private placement.

“We are making significant progress against our goals with the ongoing expansion of our OEM relationships and acquisition of several new OEM partnerships. New customers, including Scout Campers, Alaskan Campers, and K-Z Recreational Vehicles, are driving demand for high-quality lithium battery technology for their premium campers and vehicles.

“We are working with NeoVolta to combine our strengths toward a potential collaboration that aims to engineer a US-based state-of-the-art battery manufacturing facility and develop innovative lithium-ion battery cell and module product designs. A formal engagement would enable us to contribute our expertise in design and engineering, while NeoVolta plans to provide the necessary capital and manpower. Together we expect to bring high-performance, sustainable energy storage solutions to the market to address the growing demand for efficient energy management in both residential and commercial applications.

“We have continued our progress in our Home Energy Storage Solutions vertical, with production shipments   beginning in January 2025. We believe the HESS product line will benefit from a fast-growing battery energy storage market, and consumer uptake can rapidly scale with the introduction of products that improve price, flexibility, and integration. We also anticipate HESS will benefit from incentives available through California's Self-Generation Incentive Program and federal tax credits available through the Inflation Reduction Act for home battery systems.

“Looking ahead, we anticipate our new OEM partnerships and distributors to generate incremental revenue of approximately $5.0 million for fiscal year 2025, with additional new customers expressing interest across our product line, including our next generation GC2, Group 27, and new Edge batteries. The anticipated revenue growth is expected to increase gross profits by an estimated $1.4 million for fiscal year 2025. We are also highly focused on further development of HESS and the introduction of new technologies and batteries. We look forward to announcements of additional wins and milestones in the months ahead,” concluded Mr. Schaffner.

Fourth Quarter 2024 Financial Summary

Revenue in the fourth quarter of 2024 totaled $2.0 million, an increase of 131% from $0.9 million in the prior year period. The increase was primarily due to increased OEM sales with existing and new customers.

Gross profit in the fourth quarter of 2024 totaled $438,552 or 22.1% of revenue, as compared to $205,114 or 23.9% of revenue in the prior year period. The decrease in gross profit was primarily due to OEM customer discounts issued in connection with higher-volume purchases.

Selling, general and administrative expenses in the fourth quarter of 2024 decreased to $1.6 million compared to $2.4 million in the prior year period. The decrease was primarily due to reductions in salaries related to a lower employee headcount and lower stock-based compensation.

Net loss in the fourth quarter of 2024 totaled $251,647, an 88% improvement from a net loss of $2.2 million in the prior year period. The decrease in net loss was primarily due to our sales growth.

Full Year 2024 Financial Summary

For the year ended December 31, 2024, revenue totaled $5.6 million, decreasing 6.0% from $6.0 million in the prior year. The decrease was primarily attributable to softness in the recreational market during the first two quarters, driving decreases in OEM sales during those same two periods.

Gross profit for the full year of 2024 totaled $1.2 million, a 20.5% gross margin as compared to $1.6 million or 26.3% of revenue in the same year-ago period. The decrease in gross profit was primarily attributable to lower sales volumes due to the slowdown in the RV industry resulting in lower economies of scale on fixed costs, as well as the liquidation of non-core product increasing cost of sales above what they would have been without the liquidation.

Selling, general and administrative expenses for the full year of 2024 decreased 9.6% to $7.9 million compared to $8.7 million in the prior year period. The decrease was primarily due to decreases in legal and professional fees, as well as salaries and benefits, which was partially offset by an increase in license and fee cash premiums paid when making repayment on our convertible note, as well as fees incurred in connection with our termination of our warehouse lease.

Net loss for the year ended December 31, 2024, totaled $13.5 million or $(21.03) per share, compared to net loss of $7.5 million or $(108.25) per share in the prior year. The net loss was primarily the result of $5.0 million in suspended liability expense due to our reverse stock split cash true-up payment provision in the Series A Warrants issued and sold in a public offering we consummated in August 2024, as well as increased interest incurred under our convertible note, and increased settlement expenses.

Cash and cash equivalents totaled $0.5 million as of December 31, 2024, compared to $3.9 million as of December 31, 2023. On January 3, 2025, the Company closed a $2.6 million registered direct offering and private placement priced at the market under Nasdaq rules.

Net cash used in operating activities totaled $9.6 million for the year ended December 31, 2024, compared to $5.5 million in the prior year period.

The share, per share, and resulting financial amounts in this press release, including prior period metrics, have been adjusted to reflect the reverse stock split of the Company’s common stock, par value $0.001 per share, which was effective on October 8, 2024.

Fourth Quarter & Full Year 2024 Results Conference Call

Brian Schaffner, Chief Executive Officer of Expion360, will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Date:Monday, March 31, 2025
Time:4:30 p.m. Eastern Time (1:30 p.m. Pacific Time)
Dial-in:1-844-825-9789
International Dial-in:1-412-317-5180
Conference Code:10196334
Webcast:https://viavid.webcasts.com/starthere.jsp?ei=1705725&tp_key=ca73831ad8


A telephone replay will be available approximately three hours after the call and will remain available through April 14, 2025, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 10196334. The replay can also be viewed through the webcast link above and the presentation utilized during the call will be available via the investor relations section of the Company’s website here.

About Expion360

Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles, marine applications, Light EV and residential energy storage.

The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.

The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the Company, visit expion360.com.

Forward-Looking Statements

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements included in this press release include, but are not limited to, statements relating to the Company’s beliefs, plans, and expectations about its operations, product development and pipeline, growth prospects, market opportunity, potential partnership with NeoVolta, the anticipated incremental revenue to be generated from new OEM partnerships and distributors, and the expected timing of the Company’s next conference call to discuss the Company’s financial results. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Company Contact:
Brian Schaffner, CEO and Interim CFO
541-797-6714
Email Contact

External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
XPON@mzgroup.us
www.mzgroup.us

 
Expion360 Inc.
Balance Sheets
 
  As of December 31, 2024 As of December 31, 2023
Assets        
Current Assets        
Cash and cash equivalents $547,565  $3,932,698 
Accounts receivable, net  613,022   154,935 
Inventory  4,831,461   3,825,390 
Prepaid/in-transit inventory  1,612,686   163,948 
Prepaid expenses and other current assets  236,461   189,418 
Total current assets  7,841,195   8,266,389 
         
Property and equipment  914,081   1,348,326 
Accumulated depreciation  (430,191)  (430,295)
Property and equipment, net  483,890   918,031 
         
Other Assets        
Operating leases – right-of-use asset  754,832   2,662,015 
Deposits  27,471   58,896 
Total other assets  782,303   2,720,911 
Total assets $9,107,388  $11,905,331 
         
Liabilities and stockholders’ equity        
Current liabilities        
Accounts payable $338,091  $286,985 
Customer deposits  48,474   17,423 
Accrued expenses and other current liabilities  187,464   292,515 
Convertible note     2,082,856 
Current portion of operating lease liability  256,153   522,764 
Current portion of stockholder promissory notes     762,500 
Current portion of long-term debt  31,758   50,839 
Suspended Liability  4,985,948    
Total current liabilities  5,847,888   4,015,882 
         
Long-term debt, net of current portion and discount  198,412   298,442 
Operating lease liability, net of current portion  542,764   2,241,325 
Total liabilities $6,589,064  $6,555,649 
         
Stockholders’ equity        
Preferred stock, par value $.001; 20,000,000 shares authorized; zero shares issued and outstanding      
Common stock, par value $.001; 200,000,000 shares authorized; 2,096,082 and 69,230 issued and outstanding as of December 31, 2024 and 2023, respectively  2,096   69 
Additional paid-in capital  37,091,468   26,445,378 
Accumulated deficit  (34,575,240)  (21,095,765)
Total stockholders’ equity  2,518,324   5,349,682 
Total liabilities and stockholders’ equity $9,107,388  $11,905,331 


 
Expion360 Inc.
Statements of Operations
 
  For the Years Ended December 31,
  2024 2023
Net sales $5,624,939  $5,981,134 
Cost of sales  4,469,711   4,405,611 
Gross profit  1,155,228   1,575,523 
Selling, general and administrative  7,909,219   8,745,135 
Loss from operations  (6,753,991)  (7,169,612)
         
Other (Income) / Expense        
Interest income  (86,121)  (125,854)
Interest expense  976,618   124,511 
Loss on sale of property and equipment  146,760   3,426 
Settlement expense  709,900   281,680 
Suspended liability expense  4,985,948    
Other income  (6,073)  (394)
Total other expense  6,727,032   283,369 
Loss before taxes  (13,481,023)  (7,452,981)
         
Tax (income) / expense  (1,548)  3,293 
Net loss $(13,479,475) $(7,456,274)
         
Net loss per share (basic and diluted) $(21.03) $(108.25)
Weighted-average number of common shares outstanding  641,011   68,882 


 
Expion360 Inc.
Statements of Cash Flows
 
  For the Years Ended December 31,
  2024 2023
Cash flows from operating activities        
         
Net loss $(13,479,475) $(7,456,274)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
Depreciation  173,973   205,723 
Amortization of convertible note costs  667,144    
Loss on sale of property and equipment  146,760   3,426 
Decrease in allowance for doubtful accounts     (18,804)
Stock-based settlement  209,000   251,680 
Stock-based compensation  616,632   560,365 
Decrease in right-of-use assets and lease liabilities  (67,778)   
Increase in suspended liability  4,985,948    
         
Changes in operating assets and liabilities:        
(Increase) / Decrease in accounts receivable  (458,087)  161,904 
(Increase) / Decrease in inventory  (1,006,071)  704,746 
Increase in prepaid/in-transit inventory  (1,448,738)  (22,338)
Increase in prepaid expenses and other current assets  (47,043)  (17,626)
Decrease in deposits  31,425   5,005 
Increase in accounts payable  51,106   56,735 
Increase in customer deposits  31,051   17,365 
Increase / (Decrease) in accrued expenses and other current liabilities  21,819   (13,649)
Increase in right-of-use assets and lease liabilities  9,789   30,510 
Net cash used in operating activities  (9,562,545)  (5,531,232)
         
Cash flows from investing activities        
Purchases of property and equipment  (19,203)  (20,170)
Net proceeds from sale of property and equipment  132,611   36,748 
Net cash provided by investing activities  113,408   16,578 
         
Cash flows from financing activities        
Proceed from / (Principal payment on) convertible note  (2,750,000)  2,420,025 
Principal payments on long-term debt  (119,111)  (161,194)
Principal payments on stockholder promissory notes  (762,500)  (62,500)
Proceeds from exercise of warrants  185,434   49,800 
Settlement of fractional shares for cashless warrant exercise     (23)
Net proceeds from issuance of common stock  9,510,181    
Net cash provided by financing activities  6,064,004   2,246,108 
         
Net change in cash and cash equivalents  (3,385,133)  (3,268,546)
Cash and cash equivalents, beginning  3,932,698   7,201,244 
Cash and cash equivalents, ending  547,565   3,932,698 

FAQ

What was Expion360's (XPON) revenue growth in Q4 2024?

XPON's Q4 2024 revenue grew 131% year-over-year to $2.0 million and increased 43% sequentially from Q3 2024.

How much additional revenue does XPON expect from new OEM partnerships in 2025?

Expion360 anticipates approximately $5.0 million in incremental revenue for fiscal year 2025 from new OEM partnerships and distributors.

What was XPON's gross margin in Q4 2024 compared to Q4 2023?

XPON's Q4 2024 gross margin was 22.1%, compared to 23.9% in Q4 2023, primarily due to OEM customer volume discounts.

What new strategic partnership did XPON announce with NeoVolta?

XPON signed a non-binding LOI with NeoVolta to potentially collaborate on engineering a US-based battery manufacturing facility and develop new lithium-ion battery designs.

How much funding did XPON secure in January 2025?

Expion360 closed a $2.6 million registered direct offering and private placement in January 2025.
Expion360

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