Expion360 (US:XPON)2025-11-13 20:45Financial Performance - Net sales for Q3 2025 reached $2.4 million, a 72% increase from $1.4 million in Q3 2024[7] - Gross profit for Q3 2025 was $0.5 million, representing 23% of net sales, compared to $0.2 million or 12% in the prior year[8] - Net income for Q3 2025 improved to $0.7 million, a $9.5 million increase from a net loss of $8.8 million in Q3 2024[10] - For the nine months ended September 30, 2025, net sales totaled $7.4 million, up 104% from $3.6 million in the same period in 2024[11] - Gross profit for the nine months ended September 30, 2025, was $1,666,660, compared to $716,676 for the same period in 2024, indicating a growth of about 132%[27] - The net loss for the nine months ended September 30, 2025, was $1,798,066, a decrease from a loss of $13,227,828 in 2024, reflecting an improvement of approximately 86%[29] Cash and Working Capital - Cash and cash equivalents increased to $4.3 million as of September 30, 2025, up approximately $3.7 million or 684% from $0.5 million at the end of 2024[15] - Cash and cash equivalents at the end of Q3 2025 were $4,293,797, up from $3,325,177 at the end of Q3 2024, showing an increase of about 29%[29] - Working capital rose to $8.5 million as of September 30, 2025, an increase of $6.5 million or 327% from $2.0 million at the end of 2024[15] Stockholder Equity and Shares - Stockholders' equity increased to $9.0 million as of September 30, 2025, compared to $2.5 million at the end of 2024, marking a 258% increase[15] - The weighted-average number of common shares outstanding for Q3 2025 was 5,995,776, significantly higher than 358,990 in Q3 2024, indicating a substantial increase in share issuance[27] - Net proceeds from the issuance of common stock in financing activities for the nine months ended September 30, 2025, were $1,779,557, compared to $9,510,181 in 2024, showing a decrease of approximately 81%[29] Operational Expenses - Selling, general and administrative expenses for Q3 2025 were $3,544,666, compared to $2,096,468 in Q3 2024, representing an increase of about 69%[27] - The company recorded a loss from operations of $3,002,183 for Q3 2025, compared to a loss of $1,927,777 in Q3 2024, reflecting a deterioration of approximately 55%[27] - The company reported a net cash used in operating activities of $3,725,143 for the nine months ended September 30, 2025, compared to $6,649,331 in 2024, indicating a reduction of approximately 44%[29] Strategic Initiatives - The company aims to enhance OEM market penetration and develop new home energy storage solutions[6] - Leadership changes include the appointment of Joseph Hammer as CEO and Shawna Bowin as CFO to drive strategic growth[5] - The company regained Nasdaq listing compliance as of September 17, 2025[4] Inventory Management - The company experienced a decrease in inventory of $1,199,802 for the nine months ended September 30, 2025, compared to an increase of $460,100 in 2024, indicating a shift in inventory management strategy[29]