Expion360 Reports Fourth Quarter and Full Year 2025 Financial and Operational Results
Rhea-AI Summary
Expion360 (Nasdaq: XPON) reported FY2025 results: net sales $9.7M (72% YoY) and gross profit $1.3M (16% YoY). Cash rose to $3.0M, working capital to $6.0M, and stockholders’ equity to $6.5M. Company announced CEO appointment, a DASGen industrial partnership, and three next‑generation battery models expected H2 2026.
Gross margin fell to 14% due to a one‑time obsolete inventory adjustment; FY net loss improved to $6.2M from $13.5M in 2024. Management emphasized industrial market expansion and product launches to drive future growth.
Positive
- Net sales +72% YoY to $9.7M for FY2025
- Cash balance increased to $3.0M from $0.5M (442% increase)
- Working capital improved to $6.0M, up 203% year‑over‑year
- Stockholders’ equity rose to $6.5M, up 160% YoY
- Net loss narrowed by $7.3M to $6.2M in FY2025
Negative
- Gross margin decline to 14% from 21% due to obsolete inventory adjustment
- SG&A increased 52% to $12.0M, maintaining >100% of sales
- Fourth‑quarter gross loss of $0.3M driven by inventory adjustment
- Operating cash burn remained material at $6.1M for FY2025
News Market Reaction – XPON
On the day this news was published, XPON declined 7.26%, reflecting a notable negative market reaction. Argus tracked a peak move of +5.4% during that session. Argus tracked a trough of -21.6% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $533K from the company's valuation, bringing the market cap to $7M at that time. Trading volume was elevated at 2.8x the daily average, suggesting increased selling activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
XPON’s pre-news gain of 4.63% occurred while peers were mixed: DFLI down 25.34%, EPOW up 4.26%, CCTG up 3.51%. With peers moving both directions and scanner flagging divergent moves, action appears stock-specific rather than a sector-wide rotation.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 28 | FY25 prelim results | Positive | -6.8% | Preliminary FY25 revenue, gross profit and net loss guidance with cash balance update. |
| Nov 13 | Q3 2025 earnings | Positive | -8.7% | Strong Q3 sales growth, one-time swing to net income, and leadership changes. |
| Aug 13 | Q2 2025 earnings | Positive | +54.2% | Sixth consecutive quarter of sales growth and improved losses despite margin pressure. |
| Aug 04 | Q2 2025 prelim | Positive | +1.8% | Record preliminary quarterly revenue with sharply higher growth and lower cash burn. |
| May 15 | Q1 2025 earnings | Positive | -3.1% | Strong Q1 revenue growth, better margins, reduced net loss, and new HESS product line. |
Earnings updates often showed strong growth but produced mixed to negative next-day price reactions, with several divergences where shares fell on seemingly positive reports.
Across recent earnings releases in 2025–2026, Expion360 reported rapid revenue growth, recurring losses, and periodic margin pressure, while steadily improving cash and working capital. Q1–Q3 2025 results highlighted multi-quarter sales acceleration and a one-time swing to profitability from liability removal. Preliminary FY25 results on Jan 28, 2026 pointed to about $9.6M revenue and a $6.2M net loss. Today’s full-year 2025 report formalizes those trends and adds detail on inventory adjustments and operating expenses.
Historical Comparison
In the past year, XPON’s five earnings-related releases averaged a 7.48% move, with several instances of shares declining despite upbeat growth metrics and liquidity improvements.
Earnings updates trace a 2025 arc from Q1’s 111% revenue growth through Q2–Q3 acceleration and liability-driven profit, culminating in FY25 figures around $9.6–9.7M revenue and a narrowed net loss.
Market Pulse Summary
The stock moved -7.3% in the session following this news. A negative reaction despite revenue rising 72% to $9.7M and net loss improving to $6.2M would fit prior patterns where earnings strength did not prevent selloffs. The reported gross margin decline to 14%, heavy SG&A of $12.0M, and continued operating cash burn of $6.1M could have reinforced concerns about profitability and capital needs, prompting caution after earlier growth-driven optimism.
Key Terms
battery management systems technical
AI-generated analysis. Not financial advice.
FY 2025 Sales Growth of
Next Generation Products for Industrial and Construction Applications to Expand Market Opportunities
REDMOND, Ore., March 17, 2026 (GLOBE NEWSWIRE) -- Expion360 Inc. (Nasdaq: XPON) (“Expion360” or the “Company”), an industry leader in lithium iron phosphate (“LiFePO4”) battery power storage solutions, today reported its financial and operational results for the fourth quarter and year ended December 31, 2025.
Year Ended 2025 and Subsequent Financial and Operational Highlights
- Net sales for the year ended December 31, 2025 totaled
$9.7 million , a72% increase compared to$5.6 million for the same period in 2024. - Gross profit for the year ended December 31, 2025 totaled
$1.3 million , a16% increase compared to$1.2 million for the same period in 2024. - Net cash used in operations for the year ended December 31, 2025 was
$6.1 million , compared to$9.6 million for the same period in 2024, a36% improvement. - Cash and cash equivalents totaled
$3.0 million as of December 31, 2025, compared to$0.5 million as of December 31, 2024. - Working capital was
$6.0 million as of December 31, 2025, compared to$2.0 million as of December 31, 2024. - Stockholders’ equity totaled
$6.5 million as of December 31, 2025, compared to$2.5 million as of December 31, 2024. - Appointed veteran financial executive and director Joseph Hammer as Chief Executive Officer and Chairman of the Board of Directors to lead strategic direction and next phase of growth.
- Entered into a strategic partnership related to the launch of the DASGen Hybrid Energy Storage System, an energy storage solution intended for use on construction and industrial job sites, marking Expion360’s entry into the industrial market.
- Announced the upcoming release of three next-generation battery models, with commercial availability expected in the second half of 2026.
Management Commentary
"The year ended December 31, 2025 was highlighted by improved revenue and gross profit, driven by strong product sales of our next-generation technologies and batteries,” Joseph Hammer, Chief Executive Officer and Chairman of the Board of Directors of Expion360. “Net sales grew
“Moving into 2026, we remain focused on the expansion of our technology with the launch of three new next generation lithium battery models and entry into the industrial market, which has been one of our strategic targets for expanding into adjacent verticals. These new models are expected to be commercially available in the second half of 2026 and build on our established presence in the RV and marine markets while addressing the growing demand for higher energy density, fully-featured battery systems in industrial and commercial applications. The batteries are expected to be offered to customers at a lower cost than current equivalent models, while delivering higher capacity and improved performance. At the same time, the updated designs are expected to improve internal cost structure and margins, enabling increased reinvestment in product development and long-term customer value.
“We also recently partnered with Dealer Accessory Supply to launch the DASGen Hybrid Energy Storage System, an energy storage solution intended for use on construction and industrial job sites. The system will be powered by Expion360 battery technology and is designed to operate as an energy buffer between diesel generators and jobsite electrical loads. The system is intended to store and deploy energy based on load requirements, which may allow generators to operate fewer hours and at higher efficiency, depending on site conditions and usage patterns. With successful results from test-site performance and early interest from leading construction firms, we look forward to offering the system to end customers through our commercial sales organization.
“Our technology roadmap includes plans to expand our portfolio and explore the development of potential new revenue streams, including higher-density lithium-ion and LiFePO4 chemistries, modular platforms, and enhanced battery management systems aimed at improving safety, longevity, and overall cost efficiency for mobile and off-grid applications. We are also developing specialized energy storage solutions intended to be suitable for use in surveillance and monitoring applications. Development efforts continue to focus on next-generation storage technologies that may help lower costs, improve energy density, and support scalable manufacturing. We may also consider selective acquisitions and partnerships in power electronics and energy management as potential ways to strengthen vertical integration.
“Looking ahead, we are exploring new opportunities in the industrial and construction sectors. Our near-term priorities include expanding OEM market penetration through additional partnerships as well as the introduction of new battery features, technologies, and form factors aligned with OEM requirements. Across our end markets, we remain focused on innovation, thoughtful margin improvement, and measured growth in areas where we believe there is consistent demand and long-term growth opportunities,” concluded Mr. Hammer.
Full Year 2025 Financial Summary
For the year ended December 31, 2025, net sales totaled
Gross profit for the year ended December 31, 2025 totaled
Selling, general and administrative expenses for the year ended December 31, 2025 totaled
Net loss totaled
Cash and cash equivalents totaled
Net cash used in operating activities for the year ended December 31, 2025 decreased to
Fourth Quarter 2025 Financial Summary
Net sales in the fourth quarter of 2025 totaled
Gross loss in the fourth quarter of 2025 totaled
Selling, general, and administrative expenses in the fourth quarter of 2025 were
Net loss in the fourth quarter of 2025 totaled
About Expion360
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles, marine applications, Light EV and industrial applications.
The Company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS casing and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The Company is headquartered in Redmond, Oregon. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country.
To learn more about the Company, visit expion360.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements included in this press release include, but are not limited to, statements relating to the Company’s anticipated timing of commercial availability of its products, the expected demand for its products, expectations for product features and capabilities and market opportunity, the expansion of the Company’s portfolio and the development of potential new revenue streams, and the anticipated benefits associated with the Company’s development and expansion efforts. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Company Contact:
541-797-6714
Shawna.Bowin@expion360.com
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
XPON@mzgroup.us
www.mzgroup.us
| Expion360 Inc. Balance Sheets | ||||||||
| As of December 31, 2025 | As of December 31, 2024 | |||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 2,969,096 | $ | 547,565 | ||||
| Accounts receivable, net | 718,964 | 613,022 | ||||||
| Inventory | 2,858,780 | 4,831,461 | ||||||
| Prepaid/in-transit inventory | 318,440 | 1,612,686 | ||||||
| Prepaid expenses and other current assets | 179,645 | 236,461 | ||||||
| Total current assets | 7,044,925 | 7,841,195 | ||||||
| Property and equipment | 807,083 | 914,081 | ||||||
| Accumulated depreciation | (478,861 | ) | (430,191 | ) | ||||
| Property and equipment, net | 328,222 | 483,890 | ||||||
| Other Assets | ||||||||
| Operating leases – right-of-use asset | 666,199 | 754,832 | ||||||
| Deposits | 32,016 | 27,471 | ||||||
| Total other assets | 698,215 | 782,303 | ||||||
| Total assets | $ | 8,071,362 | $ | 9,107,388 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 403,792 | $ | 338,091 | ||||
| Customer deposits | 2,978 | 48,474 | ||||||
| Accrued expenses and other current liabilities | 221,863 | 187,464 | ||||||
| Current portion of operating lease liability | 337,246 | 256,153 | ||||||
| Current portion of long-term debt | 31,058 | 31,758 | ||||||
| Suspended liability | — | 4,985,948 | ||||||
| Total current liabilities | 996,937 | 5,847,888 | ||||||
| Long-term debt, net of current portion and discount | 166,187 | 198,412 | ||||||
| Operating lease liability, net of current portion | 372,478 | 542,764 | ||||||
| Total liabilities | $ | 1,535,602 | $ | 6,589,064 | ||||
| Stockholders’ equity | ||||||||
| Preferred stock, par value $.001; 20,000,000 shares authorized; zero shares issued and outstanding | — | — | ||||||
| Common stock, par value $.001; 200,000,000 shares authorized; 9,781,739 and 2,096,082 issued and outstanding as of December 31, 2025 and 2024, respectively | 9,782 | 2,096 | ||||||
| Additional paid-in capital | 47,336,405 | 37,091,468 | ||||||
| Accumulated deficit | (40,810,427 | ) | (34,575,240 | ) | ||||
| Total stockholders’ equity | 6,535,760 | 2,518,324 | ||||||
| Total liabilities and stockholders’ equity | $ | 8,071,362 | $ | 9,107,388 | ||||
| Expion360 Inc. Statements of Operations | ||||||||
| For the Years Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Net sales | $ | 9,651,870 | $ | 5,624,939 | ||||
| Cost of sales | 8,314,472 | 4,469,711 | ||||||
| Gross profit | 1,337,398 | 1,155,228 | ||||||
| Selling, general and administrative | 12,040,903 | 7,909,219 | ||||||
| Loss from operations | (10,703,505 | ) | (6,753,991 | ) | ||||
| Other (income) / expense | ||||||||
| Interest income | (16,147 | ) | (86,121 | ) | ||||
| Interest expense | 20,226 | 976,618 | ||||||
| Loss on sale of property and equipment | 13,353 | 146,760 | ||||||
| Settlement expense | — | 709,900 | ||||||
| Suspended liability expense / (income) | (4,485,948 | ) | 4,985,948 | |||||
| Other (income) / expense | 48 | (6,073 | ) | |||||
| Total other (income) / expense | (4,468,468 | ) | 6,727,032 | |||||
| Loss before taxes | (6,235,037 | ) | (13,481,023 | ) | ||||
| Tax (income) / expense | 150 | (1,548 | ) | |||||
| Net loss | $ | (6,235,187 | ) | $ | (13,479,475 | ) | ||
| Net loss per share (basic and diluted) | $ | (1.13 | ) | $ | (21.03 | ) | ||
| Weighted-average number of common shares outstanding | 5,511,875 | 641,011 | ||||||
| Expion360 Inc. Statements of Cash Flows | ||||||||
| For the Years Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities | ||||||||
| Net loss | $ | (6,235,187 | ) | $ | (13,479,475 | ) | ||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||||||||
| Depreciation | 116,645 | 173,973 | ||||||
| Amortization of convertible note costs | — | 667,144 | ||||||
| Loss on sale of property and equipment | 13,353 | 146,760 | ||||||
| Stock-based settlement | — | 209,000 | ||||||
| Stock-based compensation | 1,163,654 | 616,632 | ||||||
| Issuance of common stock in exchange for services | 489,500 | — | ||||||
| Non-cash expense in exchange for asset disposal | 21,420 | — | ||||||
| (Increase) / Decrease in inventory valuation | 903,717 | — | ||||||
| Decrease in right-of-use assets and lease liabilities | — | (67,778 | ) | |||||
| Increase / (Decrease) in suspended liability | (4,485,948 | ) | 4,985,948 | |||||
| Changes in operating assets and liabilities: | ||||||||
| Increase in accounts receivable | (105,942 | ) | (458,087 | ) | ||||
| (Increase) / Decrease in inventory | 1,068,964 | (1,006,071 | ) | |||||
| (Increase) / Decrease in prepaid/in-transit inventory | 1,294,246 | (1,448,738 | ) | |||||
| (Increase) / Decrease in prepaid expenses and other current assets | 56,816 | (47,043 | ) | |||||
| (Increase) / Decrease in deposits | (4,545 | ) | 31,425 | |||||
| Increase in accounts payable | 65,701 | 51,106 | ||||||
| Increase / (Decrease) in customer deposits | (45,496 | ) | 31,051 | |||||
| Increase in accrued expenses and other current liabilities | 34,399 | 21,819 | ||||||
| Increase / (Decrease) in right-of-use assets and lease liabilities | (560 | ) | 9,789 | |||||
| Decrease in suspended liability | (500,000 | ) | — | |||||
| Net cash used in operating activities | (6,149,263 | ) | (9,562,545 | ) | ||||
| Cash flows from investing activities | ||||||||
| Purchases of property and equipment | — | (19,203 | ) | |||||
| Net proceeds from sale of property and equipment | 4,250 | 132,611 | ||||||
| Net cash provided by investing activities | 4,250 | 113,408 | ||||||
| Cash flows from financing activities | ||||||||
| Principal payments on convertible note | — | (2,750,000 | ) | |||||
| Principal payments on long-term debt | (32,925 | ) | (119,111 | ) | ||||
| Principal payments on stockholder promissory notes | — | (762,500 | ) | |||||
| Net proceeds from exercise of warrants | 5,725,284 | 185,434 | ||||||
| Net proceeds from issuance of common stock | 2,874,185 | 9,510,181 | ||||||
| Net cash provided by financing activities | 8,566,544 | 6,064,004 | ||||||
| Net change in cash and cash equivalents | 2,421,531 | (3,385,133 | ) | |||||
| Cash and cash equivalents, beginning | 547,565 | 3,932,698 | ||||||
| Cash and cash equivalents, ending | $ | 2,969,096 | $ | 547,565 | ||||
FAQ
What were Expion360 (XPON) full‑year 2025 sales and growth?
Why did Expion360's gross margin decline in 2025 (XPON)?
How did Expion360's cash and working capital change at year‑end 2025 (XPON)?
What operational milestones did Expion360 announce for 2026 (XPON)?
How did Expion360's profitability metrics change in FY2025 (XPON)?
