Expion360 Reports 134% Revenue Growth to $2.99 Million, Net Loss Improves

Expion360 Inc. reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved net sales of $2.99 million for the three months ended June 30, 2025, marking a 134% increase from $1.28 million in the same period of 2024. For the first half of 2025, net sales reached $5.04 million, up 124% from $2.25 million in the prior year. Despite these gains, the company reported a net loss of $1.37 million for the quarter, an improvement from a loss of $2.22 million in the same quarter of 2024. The six-month net loss also decreased to $2.52 million from $4.41 million year-over-year.

The filing highlighted a decrease in selling, general, and administrative expenses, which fell by 1.6% to $1.97 million for the three months ended June 30, 2025, compared to $2.00 million in the same period of 2024. For the six months, these expenses decreased by 13.6% to $3.62 million from $4.19 million. The reduction in expenses was attributed to savings in salaries, benefits, and rent, although there were increases in travel and research and development costs. Additionally, other expenses saw a dramatic decline of 97% for both the three and six months ended June 30, 2025, primarily due to reduced interest and settlement expenses.

Operationally, Expion360 has been expanding its customer base and product offerings. The company has successfully onboarded new customers and enhanced its sales efforts, particularly in the recovering RV market. The introduction of the e360 Home Energy Storage Solutions in January 2025 is expected to further drive sales growth. The company reported a significant increase in customer concentration, with two customers accounting for approximately 53% of total sales in the latest quarter.

As of June 30, 2025, Expion360's total assets were approximately $8.61 million, a decrease from $9.11 million at the end of 2024. The company’s liabilities remained relatively stable at $6.54 million, with stockholders' equity decreasing to $2.07 million from $2.52 million. The company continues to face challenges related to its ability to generate sufficient revenue to achieve profitability, as indicated by its accumulated deficit of $37.1 million. Management is actively working to address these challenges through increased revenue generation, inventory management, and potential capital raises.

Looking ahead, Expion360 remains focused on expanding its market presence and product offerings, particularly in the home energy storage sector. However, the company has expressed concerns regarding its ability to continue as a going concern, citing the need for additional funding and the potential impact of macroeconomic conditions on consumer demand. The management's outlook emphasizes the importance of executing its growth strategy effectively to ensure long-term sustainability and profitability.