FY 2025 Sales Growth of 72% to $9.7 Million Driven by Strong Demand for Battery Products, Accessories and Technologies
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, a
72% 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, a
16% 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, a 36%
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 72% to $9.7 million in 2025 compared to $5.6 million in 2024. Gross profit rose by 16% to $1.3 million in 2025 compared to $1.2 million in 2024. Sales improved for our premium LiFePO4 batteries and accessories on strong demand as the RV market continued to gain momentum, and from our expanded outreach to OEMs and successful onboarding of new customers.
"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 $9.7 million, an increase of 72% from $5.6 million in the prior year period. The increase in net sales was primarily attributable to the expansion of our customer base, increased sales to key customers, and broader adoption of our lithium iron phosphate battery platforms across distribution and OEM channels.
Gross profit for the year ended December 31, 2025 totaled $1.3 million, an increase of 16% compared to $1.2 million in the prior year period. Gross margin as a percent of net sales decreased from 21% for 2024 to 14% for 2025. This change is primarily due to a one-time adjustment for obsolete inventory, which affected our cost of sales, resulting in a decrease in gross profit. Gross profit for the year ended December 31, 2025 prior to that adjustment would have been $2.2 million and would have represented 23% of net sales, compared to 21% in the prior year period.
Selling, general and administrative expenses for the year ended December 31, 2025 totaled $12.0 million compared to $7.9 million in the prior year period, an increase of 52% but an overall decrease as a percentage of sales from 141% of sales in 2024 to 125% of sales in 2025. The increase was primarily due to increases in salaries and benefits, legal and professional fees, and research and development, which was partially offset by a decrease in rent and associated expenses.
Net loss totaled $6.2 million for the year ended December 31, 2025, a $7.2 million improvement from a net loss of $13.5 million in the prior year period. The improvement was driven by increased sales resulting in improved gross profit, as well as improvements in other income and expense, including the removal of the suspended liability.
Cash and cash equivalents totaled $3.0 million as of December 31, 2025, compared to $0.5 million as of December 31, 2024, an increase of $2.4 million, or 442%. Working capital totaled $6.0 million as of December 31, 2025, compared to $2.0 million as of December 31, 2024, an increase of $4.0 million, or 203%. Stockholders' equity was $6.5 million as of December 31, 2025, compared to $2.5 million as of December 31, 2024, an increase of $4.0 million, or 160%.
Net cash used in operating activities for the year ended December 31, 2025 decreased to $6.1 million from $9.6 million in the prior year period. Change in inventory levels due to timing within our supply chain process accounted for the majority of the decrease.
Fourth Quarter 2025 Financial Summary
Net sales in the fourth quarter of 2025 totaled $2.2 million, an increase of 12% from $2.0 million in the prior year period. The increase in net sales was primarily attributable to the RV market recovering from its previous slowdown, and enhanced sales efforts including expanded outreach to OEM partners, strategic marketing initiatives, and the successful onboarding of new customers during this period.
Gross loss in the fourth quarter of 2025 totaled $0.3 million, compared to gross profit of $0.4 million in the prior year period. This change is due to adjusting the value of obsolete inventory, which affected our cost of sales. Without that adjustment, gross profit for the fourth quarter of 2025 would have been $0.6 million and would have represented 26% of net sales, compared to 22% in the prior year period.
Selling, general, and administrative expenses in the fourth quarter of 2025 were $4.9 million, an increase of 201% from $1.6 million in the fourth quarter of 2024. The increase was primarily due to increases in salaries and benefits as well as legal and professional fees.
Net loss in the fourth quarter of 2025 totaled $4.4 million, compared to $0.3 million in the fourth quarter of 2024. The change was driven by increased research and development, legal fees, and salary and benefit expenses.
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, As of December 31,
2025 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
============= ==============
(END) Dow Jones Newswires
March 17, 2026 08:31 ET (12:31 GMT)
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