Expion360 Financials
Expion360 (XPON) reported $9.7M in revenue for fiscal year 2025, up 71.6% from the prior fiscal year. This page shows its 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).
Revenue recovery in FY2025 did not fix the core model because gross margin compression and overhead still overwhelmed sales.
Revenue jumped71.6% in FY2025, yet gross margin fell to13.9% ; more sales produced only a slightly larger gross profit pool. With SG&A at$12.0M , the operating loss widened to-$10.7M even though net loss narrowed, so the reported improvement came from below-operating items rather than a stronger core engine.
The balance sheet looked cleaner in FY2025 because financing brought in
Inventory fell from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Expion360's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Expion360 scores -7.71, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.2M) relative to total liabilities ($1.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Expion360 passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Expion360 reported a net loss of $6.2M while operations used $6.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Expion360 reported an operating loss of $10.7M against $20K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
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.
Cash & Balance Sheet
Expion360 held $3.0M in cash against $166K in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
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 net profit margin was -64.6% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
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.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Expion360 invested $559K in research and development in fiscal year 2025. This represents an increase of 89.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
XPON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Revenue | $8.2M | $9.7M+71.6% | $5.6M-6.0% | $6.0M-16.5% | $7.2M+58.6% | $4.5M |
| Cost of Revenue | $6.9M | $8.3M+86.0% | $4.5M+1.5% | $4.4M-9.6% | $4.9M+69.7% | $2.9M |
| Gross Profit | $1.3M | $1.3M+15.8% | $1.2M-26.7% | $1.6M-31.2% | $2.3M+39.1% | $1.6M |
| R&D Expenses | $538K | $559K+89.3% | $295K-25.7% | $398K+47.3% | $270K+365.3% | $58K |
| SG&A Expenses | $12.5M | $12.0M+52.2% | $7.9M-9.6% | $8.7M+6.1% | $8.2M+183.3% | $2.9M |
| Operating Income | -$11.3M | -$10.7M-58.5% | -$6.8M+5.8% | -$7.2M-20.4% | -$6.0M-371.2% | -$1.3M |
| Interest Expense | -$21K | -$20K+97.9% | -$977K-884.4% | $125K-92.2% | $1.6M+189.9% | $554K |
| Income Tax | N/A | $150+109.7% | -$2K-147.0% | $3K+137.2% | -$9K-195.2% | $9K |
| Net Income | -$6.8M | -$6.2M+53.7% | -$13.5M-80.8% | -$7.5M+1.1% | -$7.5M-59.6% | -$4.7M |
| EPS (Diluted) | — | -$1.13 | -$21.03 | -$108.25 | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
XPON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $8.1M-11.4% | $9.1M-23.5% | $11.9M-28.7% | $16.7M+155.9% | $6.5M |
| Current Assets | $7.0M-10.2% | $7.8M-5.1% | $8.3M-33.0% | $12.3M+159.7% | $4.8M |
| Cash & Equivalents | $3.0M+442.2% | $548K-86.1% | $3.9M-45.4% | $7.2M+831.3% | $773K |
| Inventory | $2.9M-40.8% | $4.8M+26.3% | $3.8M-15.6% | $4.5M+120.8% | $2.1M |
| Accounts Receivable | $719K+17.3% | $613K+295.7% | $155K-48.0% | $298K-61.6% | $775K |
| Total Liabilities | $1.5M-76.7% | $6.6M+0.5% | $6.6M+28.7% | $5.1M+19.3% | $4.3M |
| Current Liabilities | $997K-83.0% | $5.8M+45.6% | $4.0M+155.3% | $1.6M+0.1% | $1.6M |
| Long-Term Debt | $166K-16.2% | $198K-33.5% | $298K-32.0% | $439K-43.7% | $779K |
| Total Equity | $6.5M+159.5% | $2.5M-52.9% | $5.3M-53.9% | $11.6M+414.4% | $2.3M |
| Retained Earnings | -$40.8M-18.0% | -$34.6M-63.9% | -$21.1M-54.7% | -$13.6M-123.5% | -$6.1M |
Not reported in any period shown, so not listed: Goodwill.
XPON Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.1M | -$6.1M+35.7% | -$9.6M-72.9% | -$5.5M-1.1% | -$5.5M-40.3% | -$3.9M |
| Capital Expenditures | N/A | N/A | N/A | $20K-96.4% | $567K+399.0% | $114K |
| Free Cash Flow | N/A | N/A | N/A | -$5.6M+8.0% | -$6.0M-50.5% | -$4.0M |
| Investing Cash Flow | N/A | $4K-96.3% | $113K+584.1% | $17K+103.2% | -$516K-353.6% | -$114K |
| Financing Cash Flow | $8.0M | $8.6M+41.3% | $6.1M+170.0% | $2.2M-81.9% | $12.4M+176.3% | $4.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
XPON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Gross Margin | 13.9%-6.7pp | 20.5%-5.8pp | 26.3%-5.6pp | 31.9%-4.5pp | 36.4% |
| Operating Margin | -110.9% | -120.1% | -119.9% | -83.1%-55.2pp | -28.0% |
| Net Margin | -64.6% | -239.6% | -124.7% | -105.2% | -104.5% |
| Return on Equity | -95.4%+439.9pp | -535.3%-395.9pp | -139.4%-74.4pp | -64.9%+144.3pp | -209.2% |
| Return on Assets | -77.3%+70.8pp | -148.0%-85.4pp | -62.6%-17.5pp | -45.1%+27.2pp | -72.3% |
| Current Ratio | 7.07+5.7x | 1.34-0.7x | 2.06-5.8x | 7.85+4.8x | 3.02 |
| Debt-to-Equity | 0.03-0.1x | 0.080.0x | 0.060.0x | 0.04-0.3x | 0.35 |
| FCF Margin | N/A | N/A | -92.8%-8.6pp | -84.3%+4.5pp | -88.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
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Where Expion360 Ranks
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 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) recorded an outflow of $6.1M in operating cash flow during fiscal year 2025, representing cash used by 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 Altman Z-Score?
Expion360 (XPON) has an Altman Z-Score of -7.71, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Expion360's Piotroski F-Score?
Expion360 (XPON) has a Piotroski F-Score of 6 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Expion360's earnings high quality?
Expion360 (XPON) reported a net loss of $6.2M while operations used $6.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $10.7M against $20K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 42 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.