Expion360 Reports Fourth Quarter and Full Year 2025 Financial and Operational Results
FY 2025 Sales Growth of 72% to
Next Generation Products for Industrial and Construction Applications to Expand Market Opportunities
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 ofDecember 31, 2025 , compared to$0.5 million as ofDecember 31, 2024 . - Working capital was
$6.0 million as ofDecember 31, 2025 , compared to$2.0 million as ofDecember 31, 2024 . - Stockholders’ equity totaled
$6.5 million as ofDecember 31, 2025 , compared to$2.5 million as ofDecember 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
“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
“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
Full Year 2025 Financial Summary
For the year ended
Gross profit for the year ended
Selling, general and administrative expenses for the year ended
Net loss totaled
Cash and cash equivalents totaled
Net cash used in operating activities for the year ended
Fourth Quarter 2025 Financial Summary
Net sales in the fourth quarter of 2025 totaled
Gross loss in the fourth quarter of 2025 totaled
Selling, general, and administrative expenses in the fourth quarter of 2025 were
Net loss in the fourth quarter of 2025 totaled
About
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.
The Company is headquartered in
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
Company Contact:
541-797-6714
Shawna.Bowin@expion360.com
External Investor Relations:
949-491-8235
XPON@mzgroup.us
www.mzgroup.us
Balance Sheets |
||||||||
| As of December 31, 2025 |
As of December 31, 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 |
— | — | ||||||
| Common stock, par value |
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 | ||||
Statements of Operations |
||||||||
| For the Years Ended |
||||||||
| 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 | ||||||
Statements of Cash Flows |
||||||||
| For the Years Ended |
||||||||
| 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 | ||||
Source: Expion360