Welcome to our dedicated page for Expion360 news (Ticker: XPON), a resource for investors and traders seeking the latest updates and insights on Expion360 stock.
Expion360 Inc. (Symbol: XPON) specializes in the design, assembly, manufacturing, and sales of advanced lithium iron phosphate (LiFePO4) batteries, along with supporting accessories. The company's primary focus is on recreational vehicles (RVs) and marine applications. They are renowned for their minimal-footprint batteries, providing more power for their size compared to other market alternatives.
Expion360’s innovative product line includes the Next Gen Group 27 and GC2 Series Batteries featuring proprietary Vertical Heat Conduction™ Technology, which meets the diverse needs of customers. Notably, these batteries offer exceptional flexibility and enhanced heating efficiency.
With plans to expand into the home energy storage and industrial sectors, Expion360 is poised to capture a broader market share. The company is committed to delivering high-quality and reliable energy storage solutions, which has earned them a solid reputation in the industry.
In recent developments, Expion360’s revenue for the year ended December 31, 2023, totaled $6.0 million, a 16.5% decrease from the previous year. This decline was primarily due to reduced demand in the consumer market, affecting OEM sales. Despite this, the company remains optimistic about future growth driven by continuous innovation and customer demand.
Expion360 has also announced new strategic initiatives and partnerships to enhance product availability. Their lithium batteries and accessories are now available online to customers across 49 states, broadening their market reach.
For more information, contact Brian Schaffner, CEO, at 541-797-6714 or via email. External investor relations are managed by Chris Tyson, Executive Vice President, MZ Group - MZ North America, reachable at 949-491-8235 or XPON@mzgroup.us.
Expion360, Inc. (NASDAQ:XPON), a leader in lithium-ion battery power storage solutions, announced CEO Brian Schaffner appeared on the Big Biz Show, discussing the company's superiority in battery design and construction. Schaffner highlighted the growing preference for lithium-ion batteries over lead-acid models and outlined Expion360's plans to expand into new markets, especially home energy storage. Recent OEM partnerships, including a strategic supply deal with a major U.S. SUV manufacturer, showcase their market penetration. The company’s successful IPO on Nasdaq in April 2022 positions it favorably as a pure play in the energy storage sector, aiming to gain significant market share in various applications.
Expion360, Inc. (NASDAQ:XPON) reported strong growth in its financial results for 2022, with revenue rising 59% to a record $7.2 million. Fourth-quarter revenue also increased by 8% to $1.45 million. Despite a net loss of $7.5 million for the year, the company showed improvement in Q4 with a reduced loss of $1.5 million compared to $4.0 million in Q4 2021. Cash and equivalents stood at $7.2 million, down from $8.1 million in Q3 2022. Expion360 has secured multiple exclusive supply agreements in the RV sector, enhancing market presence. The company also anticipates launching a new home energy storage product in 2024 to address sustainability challenges.
Expion360 (NASDAQ:XPON) has been selected as the exclusive supplier of lithium-ion batteries for Xtreme Outdoors, specifically for its Little Guy camper trailers. The e360™ 120Ah Li-ion batteries will be utilized across various models, including Max, Mini Max, and Micro Max, enhancing energy density and performance. This partnership is expected to boost Expion360's brand visibility within the camping community and validates its battery technology. With extensive orders already placed by Xtreme Outdoors, the expected impact on Expion360 includes growth in sales and potential upsell opportunities across its dealer network.
Expion360 (NASDAQ:XPON) has been invited to present at the 35th Annual ROTH Conference from March 12-14, 2023, at The Ritz Carlton in Laguna Niguel, California. The conference will feature various presentations, including one-on-one meetings with analysts. CEO Brian Schaffner, along with other executives, will discuss Expion360's leadership in lithium-ion battery solutions for recreational vehicles (RVs) and marine applications. The company recently secured its position as the exclusive lithium-ion battery supplier for several RV manufacturers, expanding its market presence significantly.
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