Expion360, Inc. ( (XPON) ) has released its Q4 earnings. Here is a breakdown of the information Expion360, Inc. presented to its investors.
Expion360, Inc. is a leading provider of lithium-ion battery power storage solutions, specializing in products for recreational vehicles, marine applications, light electric vehicles, and residential energy storage. The company is known for its high-performance batteries that offer superior power and longevity compared to traditional options.
In its latest earnings report, Expion360 announced significant revenue growth for the fourth quarter of 2024, with a 131% increase year-over-year and a 43% sequential rise from the previous quarter. This growth was largely driven by the introduction of new products and technologies, as well as the establishment of new OEM and distributor relationships.
Key financial highlights include a fourth-quarter revenue of $2.0 million, a gross profit of $438,552, and a net loss of $251,647, marking an 88% improvement from the previous year’s net loss. The company also reported a full-year revenue of $5.6 million, a slight decrease from the prior year, attributed to a downturn in the recreational market. Expion360 has been proactive in expanding its OEM partnerships and has begun shipping its Home Energy Storage Solutions.
Strategically, Expion360 has partnered with NeoVolta Inc. to explore the development of a U.S.-based battery manufacturing facility, aiming to enhance its production capabilities and product offerings. The company anticipates that new OEM partnerships and distributors will generate approximately $5.0 million in incremental revenue for fiscal year 2025.
Looking ahead, Expion360 remains optimistic about its growth prospects, with plans to further develop its Home Energy Storage Solutions and introduce new battery technologies. The company expects continued revenue growth and increased gross profits in the coming year, driven by its expanding customer base and innovative product lines.