Expion360 Inc. - XPON STOCK NEWS

Expion360, Inc. (NASDAQ:XPON) has launched a new Value-Added Reseller (VAR) program for its e360 lithium-ion battery line. This initiative aims to strengthen the company’s market presence, complementing its existing network of over 175 dealers and private-label customers. Certified VARs will provide energy storage solutions, including installation and technical support, and will benefit from protected territories. The VAR program is expected to roll out by year-end 2022, with the first VAR anticipated in Q1 2023. Expion360's batteries offer significant advantages over traditional lead-acid models.

Expion360, Inc. (NASDAQ:XPON) reported a 4% year-over-year revenue increase to a record $1.4 million in Q3 2022, totaling $5.7 million for the first nine months, a 79% increase. However, gross profit fell 25% to $403,000 in Q3, partly due to expanded operations. Net loss increased to $1.3 million for the quarter and $6.1 million year-to-date, largely from non-cash expenses. The company is launching new lithium-ion products for RVs and small vehicles and has increased inventory levels to mitigate supply chain issues.

Expion360, Inc. (NASDAQ:XPON) announced that CEO John Yozamp will appear on the Big Biz Show on October 6, discussing the superiority of its lithium-ion batteries over lead-acid alternatives. The company recently reported a significant revenue increase of 122% to $2.2 million and a gross profit rise of 88% to $706,000. Expion360 aims to leverage its strong brand and product versatility to expand in the lithium battery market, which is seeing increased demand for energy storage solutions.

Expion360 (NASDAQ:XPON) reported a record revenue of $2.2 million for Q2 2022, a 122% increase year-over-year, driven by expanded product offerings and distribution. Gross profit rose 88% to $706,000. However, the net loss increased to $4.1 million mainly due to non-cash charges related to their IPO. Total assets reached $19.9 million, while total liabilities stood at $5.6 million. The company strengthened its customer base and distribution network, introducing new products and enhancing supply chain capabilities.

Expion360 (NASDAQ:XPON), a leader in lithium batteries for RVs and outdoor applications, has signed a Memorandum of Understanding (MOU) with Ioneer Ltd. to secure a domestic supply of lithium carbonate. This strategic move aims to enhance the company's supply chain amid increasing demand for their products. Additionally, Expion360 has engaged the Chesapeake Group for enhanced investor relations and corporate communication. The partnership is expected to bolster transparency and investor education initiatives as the company continues its growth trajectory.

Expion360, Inc. (NASDAQ:XPON) has launched its new Lithium Power Bundle, a clean energy solution tailored for recreational vehicles (RVs) and other applications. This integrated system, available at select Camping World Performance Centers, allows efficient management of energy from solar power through Expion360's lithium iron phosphate batteries. The batteries boast a lifespan of up to 12 years and offer three times the power of traditional lead-acid batteries while being lighter. Expion360 aims to enhance customer service quality in collaboration with Camping World.

Expion360 (NASDAQ:XPON) has signed a non-binding letter of intent with an Asian producer to procure lithium battery manufacturing equipment, aiming to establish a large-scale lithium cell manufacturing facility in Redmond, Oregon. This facility is designed to produce up to 250,000 Type 26650 lithium battery cells per day, supporting the U.S. transition to clean energy. The projected cost for the facility is approximately $450 million, funded through a mix of equity, debt, and federal grants. Expion360 anticipates starting engineering and site planning before year-end.

Expion360, Inc. (NASDAQ: XPON) has promoted Greg Aydelott to Chief Accounting Officer, overseeing day-to-day accounting alongside the CFO. Aydelott, who has two decades of experience in financial management, previously served as the company’s controller. CEO John Yozamp stated Aydelott will enhance financial management and support the company's growth strategies. Aydelott expressed enthusiasm for supporting Expion360's growth in the lithium-ion battery market for RVs and marine applications.

Expion360, Inc. (NASDAQ:XPON) announced impressive results for Q1 2022, with revenue soaring 144% to $2.2 million and gross profit increasing 213% to $862,000, reflecting a gross margin rise to 40.0%. The company achieved its first positive cash flow from operations and secured significant customers, including leading RV dealers and battery distributors. Expion360 is enhancing its production capabilities with new facilities in Oregon and Indiana to meet growing demand. Following its IPO on April 1, 2022, the company raised approximately $15.7 million to support expansion efforts.