Expion360 Financials
This page shows Expion360 (XPON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Expion360 has an operating margin of -110.9%, meaning the company retains $-111 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -120.1% the prior year.
Expion360's revenue surged 71.6% year-over-year to $9.7M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Expion360 carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.07, Expion360 holds $7.07 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Expion360 generates a -95.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -535.3% the prior year.
Expion360 passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Expion360 generates $0.99 in operating cash flow (-$6.1M OCF vs -$6.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Expion360 earns $-529.2 in operating income for every $1 of interest expense (-$10.7M vs $20K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Expion360 generated $9.7M in revenue in fiscal year 2025. This represents an increase of 71.6% from the prior year.
Expion360's EBITDA was -$10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 60.9% from the prior year.
Expion360 reported -$6.2M in net income in fiscal year 2025. This represents an increase of 53.7% from the prior year.
Expion360 earned $-1.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 94.6% from the prior year.
Cash & Balance Sheet
Expion360 held $3.0M in cash against $166K in long-term debt as of fiscal year 2025.
Expion360 had 10M shares outstanding in fiscal year 2025. This represents an increase of 366.7% from the prior year.
Margins & Returns
Expion360's gross margin was 13.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.7 percentage points from the prior year.
Expion360's operating margin was -110.9% in fiscal year 2025, reflecting core business profitability. This is up 9.2 percentage points from the prior year.
Expion360's net profit margin was -64.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 175.0 percentage points from the prior year.
Expion360's ROE was -95.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 439.9 percentage points from the prior year.
Capital Allocation
Expion360 invested $559K in research and development in fiscal year 2025. This represents an increase of 89.3% from the prior year.
XPON Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2M-7.3% | $2.4M-20.0% | $3.0M+45.9% | $2.0M+3.2% | $2.0M+42.9% | $1.4M+8.7% | $1.3M+31.5% | $972K |
| Cost of Revenue | $2.5M+37.7% | $1.9M-21.8% | $2.4M+53.0% | $1.5M+0.1% | $1.5M+26.7% | $1.2M+28.1% | $953K+27.1% | $749K |
| Gross Profit | -$329K-160.7% | $542K-12.9% | $623K+24.1% | $502K+14.4% | $439K+160.0% | $169K-48.2% | $325K+46.3% | $223K |
| R&D Expenses | $292K+293.6% | $74K-5.8% | $79K-30.7% | $114K+66.3% | $68K-0.3% | $69K-17.1% | $83K+9.7% | $76K |
| SG&A Expenses | $4.9M+37.5% | $3.5M+79.7% | $2.0M+19.6% | $1.6M+1.9% | $1.6M-22.8% | $2.1M+4.6% | $2.0M-8.5% | $2.2M |
| Operating Income | -$5.2M-73.3% | -$3.0M-122.4% | -$1.4M-17.6% | -$1.1M+2.8% | -$1.2M+38.8% | -$1.9M-14.8% | -$1.7M+14.6% | -$2.0M |
| Interest Expense | -$6K-45.8% | -$4K-21.6% | -$4K+35.6% | -$6K+98.9% | -$512K-9.4% | -$468K-86.7% | -$251K-198.9% | $253K |
| Income Tax | $37-2.6% | $38+2.7% | $37-2.6% | $38+101.3% | -$3K-736.5% | $4600.0% | $4600.0% | $460 |
| Net Income | -$4.4M-713.9% | $723K+152.8% | -$1.4M-18.8% | -$1.2M-357.8% | -$252K+97.1% | -$8.8M-297.0% | -$2.2M-1.2% | -$2.2M |
| EPS (Diluted) | N/A | $0.10+124.4% | $-0.41-10.8% | $-0.37 | N/A | $-24.55 | $-30.20 | $-31.30 |
XPON Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.1M-24.5% | $10.7M+24.2% | $8.6M-6.9% | $9.2M+1.5% | $9.1M-10.1% | $10.1M+15.7% | $8.8M-12.6% | $10.0M |
| Current Assets | $7.0M-26.3% | $9.6M+29.6% | $7.4M-8.7% | $8.1M+3.0% | $7.8M-10.6% | $8.8M+57.9% | $5.6M-16.3% | $6.6M |
| Cash & Equivalents | $3.0M-30.9% | $4.3M+526.9% | $685K-37.3% | $1.1M+99.5% | $548K-83.5% | $3.3M+268.5% | $902K-60.1% | $2.3M |
| Inventory | $2.9M-21.3% | $3.6M-29.3% | $5.1M-14.9% | $6.0M+24.9% | $4.8M+43.6% | $3.4M+0.1% | $3.4M-11.1% | $3.8M |
| Accounts Receivable | $719K+26.6% | $568K-20.6% | $716K+20.8% | $593K-3.3% | $613K+39.8% | $439K+24.2% | $353K+47.8% | $239K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.5M-8.4% | $1.7M-74.4% | $6.5M+8.1% | $6.0M-8.2% | $6.6M-13.1% | $7.6M+21.7% | $6.2M-1.7% | $6.3M |
| Current Liabilities | $997K-4.3% | $1.0M-82.1% | $5.8M+8.0% | $5.4M-8.0% | $5.8M-13.6% | $6.8M+67.2% | $4.0M+0.8% | $4.0M |
| Long-Term Debt | $166K-5.0% | $175K-4.3% | $183K-4.1% | $191K-4.0% | $198K-4.5% | $208K-3.7% | $216K-3.7% | $224K |
| Total Equity | $6.5M-27.5% | $9.0M+336.0% | $2.1M-35.3% | $3.2M+26.9% | $2.5M-1.0% | $2.5M+0.8% | $2.5M-31.3% | $3.7M |
| Retained Earnings | -$40.8M-12.2% | -$36.4M+1.9% | -$37.1M-3.8% | -$35.7M-3.3% | -$34.6M-0.7% | -$34.3M-34.6% | -$25.5M-9.5% | -$23.3M |
XPON Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.4M-15.7% | -$2.1M-422.6% | -$401K+67.4% | -$1.2M+57.8% | -$2.9M+10.2% | -$3.2M-87.0% | -$1.7M-3.7% | -$1.7M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $11K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$1.7M |
| Investing Cash Flow | $0 | $0-100.0% | $2K-45.5% | $3K+131.8% | -$9K-119.3% | $45K | $0-100.0% | $77K |
| Financing Cash Flow | $1.1M-80.7% | $5.7M+69451.1% | -$8K-100.5% | $1.8M+1127.8% | $144K-97.4% | $5.6M+1404.8% | $374K+599.5% | -$75K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
XPON Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -14.8%-37.5pp | 22.7%+1.9pp | 20.8%-3.7pp | 24.5%+2.4pp | 22.1%+10.0pp | 12.1%-13.3pp | 25.5%+2.6pp | 22.9% |
| Operating Margin | -234.4%-109.0pp | -125.4%-80.3pp | -45.2%+10.9pp | -56.0%+3.4pp | -59.5%+79.3pp | -138.7%-7.4pp | -131.3%+71.0pp | -202.4% |
| Net Margin | -199.9%-230.1pp | 30.2%+76.0pp | -45.8%+10.4pp | -56.2%-43.5pp | -12.7%+621.7pp | -634.4%-460.7pp | -173.7%+51.9pp | -225.6% |
| Return on Equity | -67.9%-75.9pp | 8.0%+74.2pp | -66.2%-30.2pp | -36.0%-26.1pp | -10.0%+336.4pp | -346.4%-258.4pp | -87.9%-28.3pp | -59.7% |
| Return on Assets | -55.0%-61.7pp | 6.8%+22.7pp | -15.9%-3.4pp | -12.5%-9.7pp | -2.8%+84.3pp | -87.0%-61.7pp | -25.4%-3.5pp | -21.9% |
| Current Ratio | 7.07-2.1 | 9.18+7.9 | 1.27-0.2 | 1.50+0.2 | 1.34+0.0 | 1.30-0.1 | 1.37-0.3 | 1.65 |
| Debt-to-Equity | 0.030.0 | 0.02-0.1 | 0.09+0.0 | 0.06-0.0 | 0.080.0 | 0.080.0 | 0.09+0.0 | 0.06 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -173.1% |
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Frequently Asked Questions
What is Expion360's annual revenue?
Expion360 (XPON) reported $9.7M in total revenue for fiscal year 2025. This represents a 71.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Expion360's revenue growing?
Expion360 (XPON) revenue grew by 71.6% year-over-year, from $5.6M to $9.7M in fiscal year 2025.
Is Expion360 profitable?
No, Expion360 (XPON) reported a net income of -$6.2M in fiscal year 2025, with a net profit margin of -64.6%.
What is Expion360's EBITDA?
Expion360 (XPON) had EBITDA of -$10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Expion360 have?
As of fiscal year 2025, Expion360 (XPON) had $3.0M in cash and equivalents against $166K in long-term debt.
What is Expion360's gross margin?
Expion360 (XPON) had a gross margin of 13.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Expion360's operating margin?
Expion360 (XPON) had an operating margin of -110.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Expion360's net profit margin?
Expion360 (XPON) had a net profit margin of -64.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Expion360's return on equity (ROE)?
Expion360 (XPON) has a return on equity of -95.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Expion360's operating cash flow?
Expion360 (XPON) generated -$6.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Expion360's total assets?
Expion360 (XPON) had $8.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Expion360 spend on research and development?
Expion360 (XPON) invested $559K in research and development during fiscal year 2025.
What is Expion360's current ratio?
Expion360 (XPON) had a current ratio of 7.07 as of fiscal year 2025, which is generally considered healthy.
What is Expion360's debt-to-equity ratio?
Expion360 (XPON) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Expion360's return on assets (ROA)?
Expion360 (XPON) had a return on assets of -77.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Expion360's cash runway?
Based on fiscal year 2025 data, Expion360 (XPON) had $3.0M in cash against an annual operating cash burn of $6.1M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Expion360's Piotroski F-Score?
Expion360 (XPON) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Expion360's earnings high quality?
Expion360 (XPON) has an earnings quality ratio of 0.99x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Expion360 cover its interest payments?
Expion360 (XPON) has an interest coverage ratio of -529.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Expion360?
Expion360 (XPON) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.