Expion Energy, Inc. (XPON) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XPON SEC filings page.
Expion Energy, Inc. (XPON) reported $8.2M in revenue over the twelve months to Jun 30, 2026, down 2.4% from the prior twelve months. 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 recovered in FY2025, but heavier operating costs kept margin pressure and losses dependent on external financing.
The FY2025 sales rebound to$9.7M coincided with gross margin falling from20.5% to13.9% , so added volume was not economically richer. Meanwhile, SG&A climbed to$12.0M from$7.9M , helping keep operating loss at-$10.7M despite the larger revenue base.
Cash conversion remains weak: operating cash flow was
The current ratio rose from 1.3x to 7.1x, indicating near-term balance-sheet pressure eased materially. Yet financing cash flow reached
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 Expion Energy, Inc.'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.
Expion Energy, Inc. held $3.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $6.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Expion Energy, Inc. scores 21/100 among other emerging companies.
Expion Energy, Inc. had 11M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Expion Energy, Inc. scores 32/100 among other emerging companies.
Expion Energy, Inc. spent $559K on research and development in fiscal year 2025, which was 2.7% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Expion Energy, Inc. scores 17/100 among other emerging companies.
Expion Energy, Inc. reported revenue of $9.7M in fiscal year 2025, against $5.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Expion Energy, Inc. scores 70/100 among other emerging companies.
Expion Energy, Inc.'s operations used $6.1M of cash in fiscal year 2025, against $9.6M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Expion Energy, Inc. scores 40/100 among other emerging companies.
Expion Energy, Inc.'s cash, cash equivalents and investments came to $3.0M at the end of fiscal year 2025, against $1.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Expion Energy, Inc. scores 74/100 among other emerging companies.
Expion Energy, Inc. scores -7.76, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.1M) 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.
Expion Energy, Inc. 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.
Expion Energy, Inc. 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.
Expion Energy, Inc. 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
Expion Energy, Inc. generated $2.0M in revenue in Q2 2026. This represents a decrease of 32.1% from the same quarter a year earlier. Against the prior quarter it is up 29.6%.
Expion Energy, Inc.'s EBITDA was -$1.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.2% from the same quarter a year earlier. Against the prior quarter it is up 26.9%.
Expion Energy, Inc. reported -$1.3M in net income in Q2 2026. This represents an increase of 6.4% from the same quarter a year earlier. Against the prior quarter it is up 27.3%.
Cash & Balance Sheet
Expion Energy, Inc. held $1.5M in cash against $143K in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Expion Energy, Inc.'s gross margin was 32.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 11.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.1 percentage points.
Expion Energy, Inc.'s operating margin was -64.1% in Q2 2026, reflecting core business profitability. This is down 18.9 percentage points from the same quarter a year earlier.
Expion Energy, Inc.'s net profit margin was -63.1% in Q2 2026, showing the share of revenue converted to profit. This is down 17.3 percentage points from the same quarter a year earlier.
Expion Energy, Inc.'s ROE was -26.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 39.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.
Capital Allocation
Expion Energy, Inc. invested $29K in research and development in Q2 2026. This represents a decrease of 63.0% from the same quarter a year earlier. Against the prior quarter it is down 79.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
XPON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0M-32.1% | $1.6M-23.6% | $2.2M+11.8% | $2.4M+72.2% | $3.0M+133.9% | $2.0M+110.9% | $2.0M+131.2% | $1.4M-26.5% |
| Cost of Revenue | $1.4M-42.1% | $1.2M-24.4% | $2.5M+64.8% | $1.9M+51.6% | $2.4M+148.5% | $1.5M+106.6% | $1.5M+136.7% | $1.2M-13.9% |
| Gross Profit | $658K+5.7% | $396K-21.0% | -$329K-175.1% | $542K+221.6% | $623K+91.3% | $502K+125.4% | $439K+113.8% | $169K-64.3% |
| R&D Expenses | $29K-63.0% | $143K+25.7% | $292K+327.2% | $74K+8.1% | $79K-4.8% | $114K+50.6% | $68K-15.9% | $69K-52.7% |
| SG&A Expenses | $2.0M-0.7% | $2.2M+31.4% | $4.9M+201.0% | $3.5M+69.1% | $2.0M-1.6% | $1.6M-24.7% | $1.6M-32.0% | $2.1M-8.5% |
| Operating Income | -$1.3M+3.6% | -$1.8M-54.3% | -$5.2M-340.8% | -$3.0M-55.7% | -$1.4M+19.6% | -$1.1M+41.6% | -$1.2M+45.8% | -$1.9M-6.0% |
| EBITDA | -$1.3M+3.2% | -$1.7M-56.8% | -$5.2M-351.7% | -$3.0M-58.1% | -$1.3M+19.2% | -$1.1M+41.9% | -$1.1M+46.0% | -$1.9M-6.5% |
| Interest Expense | $3K-12.4% | -$6K+2.6% | -$14K+97.3% | -$4K+99.1% | $4K+101.5% | -$6K-102.2% | -$512K-1677.0% | -$468K-1801.3% |
| Income Tax | N/A | $26-31.6% | $37+101.3% | $38-91.7% | $37-92.0% | $38-91.7% | -$3K | $460-66.7% |
| Net Income | -$1.3M+6.4% | -$1.8M-53.0% | -$4.4M-1663.2% | $723K+108.2% | -$1.4M+38.3% | -$1.2M+47.5% | -$252K+88.5% | -$8.8M-385.9% |
| EPS (Basic) | -$1.34+72.8% | -$0.17+54.1% | -$0.70-101.2% | $0.12+100.5% | -$4.93-16224.5% | -$0.37+98.8% | $57.60+282.1% | -$24.55+6.5% |
| EPS (Diluted) | -$1.34 | -$0.17 | -$0.70 | $0.10 | -$4.93 | -$0.37 | $57.60 | -$24.55 |
| Diluted Shares (Avg) | 953,192 | 10M | N/A | 8M | 277,939 | 3M | N/A | 358,990 |
XPON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.1M-28.7% | $7.5M-18.5% | $8.1M-11.4% | $10.7M+5.5% | $8.6M-1.7% | $9.2M-7.7% | $9.1M-23.5% | $10.1M-13.3% |
| Current Assets | $5.3M-27.9% | $6.6M-18.2% | $7.0M-10.2% | $9.6M+9.0% | $7.4M+32.8% | $8.1M+21.8% | $7.8M-5.1% | $8.8M+11.5% |
| Cash & Equivalents | $1.5M+124.9% | $3.1M+179.7% | $3.0M+442.2% | $4.3M+29.1% | $685K-24.1% | $1.1M-51.7% | $548K-86.1% | $3.3M+14.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $2.0M-60.1% | $2.4M-59.7% | $2.9M-40.8% | $3.6M+7.9% | $5.1M+52.8% | $6.0M+59.7% | $4.8M+26.3% | $3.4M-19.1% |
| Accounts Receivable | $638K-10.8% | $616K+4.0% | $719K+17.3% | $568K+29.5% | $716K+102.8% | $593K+148.0% | $613K+295.7% | $439K-7.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.3M-79.8% | $1.5M-75.5% | $1.5M-76.7% | $1.7M-77.9% | $6.5M+4.9% | $6.0M-4.7% | $6.6M+0.5% | $7.6M+56.3% |
| Current Liabilities | $959K-83.5% | $1.0M-80.9% | $997K-83.0% | $1.0M-84.6% | $5.8M+43.5% | $5.4M+34.0% | $5.8M+45.6% | $6.8M+244.5% |
| Non-Current Liabilities | $361K-50.5% | $455K-31.8% | $539K-27.3% | $635K-22.1% | $728K-66.6% | $667K-71.3% | $741K-70.8% | $815K-71.8% |
| Long-Term Debt | $143K-21.9% | $158K-17.0% | $166K-16.2% | $175K-15.8% | $183K-15.2% | $191K-14.9% | $198K-33.5% | $208K-33.3% |
| Total Equity | $4.8M+133.0% | $6.0M+89.3% | $6.5M+159.5% | $9.0M+254.1% | $2.1M-18.1% | $3.2M-13.0% | $2.5M-52.9% | $2.5M-62.7% |
| Retained Earnings | -$43.9M-18.2% | -$42.6M-19.2% | -$40.8M-18.0% | -$36.4M-6.0% | -$37.1M-45.4% | -$35.7M-53.4% | -$34.6M-63.9% | -$34.3M-81.5% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5M-268.9% | -$1.1M+8.2% | -$2.4M+16.8% | -$2.1M+35.4% | -$401K+76.9% | -$1.2M+26.5% | -$2.9M-120.1% | -$3.2M-372.6% |
| Depreciation & Amortization | $25K-20.3% | $25K-26.8% | $25K-26.7% | $26K-41.3% | $31K-31.3% | $34K-31.2% | $34K-34.4% | $45K-10.9% |
| Stock-Based Compensation | N/A | $53K+4.9% | N/A | N/A | N/A | $51K-83.9% | N/A | N/A |
| Investing Cash Flow | N/A | N/A | $0+100.0% | $0-100.0% | $2K | $3K-96.4% | -$9K | $45K+249.2% |
| Financing Cash Flow | -$37K-348.0% | $1.2M-31.4% | $1.1M+662.1% | $5.7M+1.5% | -$8K-102.2% | $1.8M+2468.6% | $144K-93.8% | $5.6M+46859.8% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
XPON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.4%+11.6pp | 25.3%+0.8pp | -14.8%-36.9pp | 22.7%+10.5pp | 20.8%-4.6pp | 24.5%+1.6pp | 22.1%-1.8pp | 12.1%-12.9pp |
| Operating Margin | -64.1%-18.9pp | -113.1% | -234.4% | -125.4% | -45.2% | -56.0% | -59.5% | -138.7% |
| Net Margin | -63.1%-17.3pp | -112.5% | -199.9% | 30.2% | -45.8% | -56.2% | -12.7% | -634.4% |
| Return on Equity | -26.6%+39.6pp | -29.1%+6.9pp | -67.9%-57.9pp | 8.0%+354.4pp | -66.2%+21.7pp | -36.0%+23.6pp | -10.0%+30.9pp | -346.4%-319.8pp |
| Return on Assets | -20.9%-5.0pp | -23.4%-10.9pp | -55.0%-52.2pp | 6.8%+93.8pp | -15.9%+9.4pp | -12.5%+9.4pp | -2.8%+15.6pp | -87.0%-71.5pp |
| Current Ratio | 5.55+4.3x | 6.44+4.9x | 7.07+5.7x | 9.18+7.9x | 1.27-0.1x | 1.50-0.2x | 1.34-0.7x | 1.30-2.7x |
| Debt-to-Equity | 0.03-0.1x | 0.030.0x | 0.03-0.1x | 0.02-0.1x | 0.090.0x | 0.060.0x | 0.080.0x | 0.080.0x |
| Asset Turnover | 0.330.0x | 0.210.0x | 0.28+0.1x | 0.22+0.1x | 0.35+0.2x | 0.22+0.1x | 0.22+0.1x | 0.140.0x |
Not reported in any period shown, so not listed: FCF Margin.
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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Expion Energy, Inc. XPON | FY2025 | $9.7M | -$6.2M | -64.6% | $4.1M | 42/100 |
| Solidion Technology, Inc. STI | FY2025 | $13K | N/A | N/A | $52.4M | — |
| Dragonfly Energy Holdings Corp. DFLI | FY2025 | $58.6M | -$69.9M | N/A | $12.9M | 39/100 |
| Advent Technologies Holdings, Inc. ADN | FY2024 | $3.3M | N/A | N/A | $3.0M | 29/100 |
| E-Power Inc. EPOW | FY2025 | $46.4M | -$16.6M | -35.8% | $11.2M | 22/100 |
| CCSC Technology International Holdings Limited CCTG | FY2026 | $17.3M | -$4.8M | -27.8% | $6.1M | 32/100 |
Where Expion Energy, Inc. Ranks
Frequently Asked Questions
What is Expion Energy, Inc.'s annual revenue?
Expion Energy, Inc. (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 Expion Energy, Inc.'s revenue growing?
Expion Energy, Inc. (XPON) revenue grew by 71.6% year-over-year, from $5.6M to $9.7M in fiscal year 2025.
Is Expion Energy, Inc. profitable?
No, Expion Energy, Inc. (XPON) reported a net income of -$6.2M in fiscal year 2025, with a net profit margin of -64.6%.
What is Expion Energy, Inc.'s EBITDA?
Expion Energy, Inc. (XPON) had EBITDA of -$10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Expion Energy, Inc. have?
As of fiscal year 2025, Expion Energy, Inc. (XPON) had $3.0M in cash and equivalents against $166K in long-term debt.
What is Expion Energy, Inc.'s gross margin?
Expion Energy, Inc. (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 Expion Energy, Inc.'s net profit margin?
Expion Energy, Inc. (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 Expion Energy, Inc.'s return on equity (ROE)?
Expion Energy, Inc. (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 Expion Energy, Inc.'s operating cash flow?
Expion Energy, Inc. (XPON) recorded an outflow of $6.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Expion Energy, Inc.'s total assets?
Expion Energy, Inc. (XPON) had $8.1M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Expion Energy, Inc. spend on research and development?
Expion Energy, Inc. (XPON) invested $559K in research and development during fiscal year 2025.
What is Expion Energy, Inc.'s current ratio?
Expion Energy, Inc. (XPON) had a current ratio of 7.07 as of fiscal year 2025, which is generally considered healthy.
What is Expion Energy, Inc.'s debt-to-equity ratio?
Expion Energy, Inc. (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 Expion Energy, Inc.'s return on assets (ROA)?
Expion Energy, Inc. (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 Expion Energy, Inc.'s P/E ratio?
Expion Energy, Inc. (XPON) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.1M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Expion Energy, Inc.'s price-to-sales ratio?
Expion Energy, Inc. (XPON) trades at 0.5x sales, its market capitalization divided by revenue of $8.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.1M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Expion Energy, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Expion Energy, Inc. (XPON) held $3.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $6.1M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Expion Energy, Inc.'s Altman Z-Score?
Expion Energy, Inc. (XPON) has an Altman Z-Score of -7.76, 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 Expion Energy, Inc.'s Piotroski F-Score?
Expion Energy, Inc. (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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Expion Energy, Inc.'s earnings high quality?
Expion Energy, Inc. (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 Expion Energy, Inc. cover its interest payments?
Expion Energy, Inc. (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 Expion Energy, Inc.?
Expion Energy, Inc. (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.