Expion360 Inc. Reports 111% Revenue Growth to $2.05 Million in Latest Quarter

Expion360 Inc. reported significant financial improvements in its latest quarterly filing, with net sales for the three months ending March 31, 2025, reaching $2.05 million, a 111% increase from $971,859 in the same period last year. The company's gross profit also saw a substantial rise, climbing to $501,567, compared to $222,522 in the prior year. Despite these gains, the company still recorded a net loss of $1.15 million, although this was a marked improvement from the $2.19 million loss reported in the first quarter of 2024.

The increase in revenue is attributed to a recovery in the recreational vehicle (RV) market and the launch of the e360 Home Energy Storage Solutions, which began shipping in January 2025. The company also noted a 25% reduction in selling, general, and administrative expenses, which fell to $1.65 million from $2.19 million, primarily due to lower salaries, benefits, and legal fees. This operational efficiency contributed to a 48% improvement in net loss compared to the previous year.

In terms of operational metrics, Expion360's inventory increased to $6.04 million from $4.83 million, reflecting the company's efforts to meet growing demand. The company reported a decrease in customer deposits, which fell to $41,920 from $48,474, indicating a shift in customer purchasing behavior. As of March 31, 2025, the company had 3,144,468 shares of common stock outstanding, up from 2,096,082 shares at the end of 2024, following a public offering that generated approximately $2.6 million in gross proceeds.

Looking ahead, Expion360 faces challenges related to its ongoing losses and the need for additional capital to sustain operations. The company has expressed concerns about its ability to continue as a going concern, given its accumulated deficit of $35.7 million and the substantial suspended liability of $4.49 million related to its Series A Warrants. Management is actively working to address these challenges by increasing product sales, managing inventory levels, and exploring alternative supply chain resources. The company remains optimistic about its growth potential, particularly in the home energy storage market, which is expected to expand significantly in the coming years.