Expion360 Inc
NASDAQ:XPON
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Expion360 Inc
Expion360 Inc is a US-based company operating in Electrical Equipment industry. The company is headquartered in Redmond, Oregon. The company went IPO on 2022-04-01. Expion360 Inc. is a manufacturer of storage batteries. The firm is focused on the design, assembly, manufacturing and sales of lithium iron phosphate (LiFePO4) batteries and supporting accessories for recreational vehicles (RV) and marine applications. The firm's product-offerings include some of dense and minimal-footprint batteries in the RV & Marine industry. The firm is also developing the e360 Home Energy Storage. Its VPR 4EVER product line, is manufactured for the RV and Marine industry.
Expion360 Inc is a US-based company operating in Electrical Equipment industry. The company is headquartered in Redmond, Oregon. The company went IPO on 2022-04-01. Expion360 Inc. is a manufacturer of storage batteries. The firm is focused on the design, assembly, manufacturing and sales of lithium iron phosphate (LiFePO4) batteries and supporting accessories for recreational vehicles (RV) and marine applications. The firm's product-offerings include some of dense and minimal-footprint batteries in the RV & Marine industry. The firm is also developing the e360 Home Energy Storage. Its VPR 4EVER product line, is manufactured for the RV and Marine industry.
Revenue Growth: Revenue rose 134% year-over-year to $3 million, marking the sixth straight quarter of sequential growth.
Gross Margin: Gross margin fell to 21% due to product mix and lower margin accessory sales, though dollar gross profit doubled to $0.6 million.
Net Loss: Net loss improved to $1.4 million, a 38% reduction from last year driven by higher sales and lower expenses.
Operational Focus: The company is building inventory to manage tariff risks and continues to reduce costs and diversify suppliers.
Home Energy Expansion: Expion360 is accelerating its home energy storage product line, with one product already UL certified and another near approval.
Selling Expenses: Selling and administrative expenses remained flat in dollars but decreased sharply as a percentage of sales.
Market Positioning: The company serves RV, marine, electric vehicle, home, and future industrial markets with a growing IP portfolio.
