Expion360 (US:XPON) Globenewswireยท2025-05-15 20:05Core Insights - Expion360 Inc. reported a significant revenue growth of 111% year-over-year for Q1 2025, reaching $2.0 million, marking the fifth consecutive quarter of robust revenue growth [4][8][9] - The company began shipping its e360 Home Energy Storage Solutions (HESS) in January 2025, which is expected to enhance its market position in the residential energy sector [5][9] - The RV market is rebounding, with a reported 14% increase in total RV shipments in Q1 2025, contributing to the company's revenue growth [4][8] Financial Highlights - Revenue for Q1 2025 totaled $2.0 million, up from $1.0 million in Q1 2024, and increased by 3% sequentially from Q4 2024 [8][9] - Gross profit for the quarter was $0.5 million, representing 25% of revenue, compared to 23% in the prior year [10] - Selling, general, and administrative expenses decreased by 25% to $1.6 million from $2.2 million in the prior year, primarily due to reductions in salaries, benefits, and legal fees [11] Operational Developments - The company has taken proactive measures to prepare for growth by increasing inventory levels by 6-12 months early in the quarter to mitigate potential tariff impacts [6] - Expion360 is working on diversifying its supply chain and aims to onshore the manufacturing of most components to the U.S. [6] - The company closed a $2.6 million registered direct offering and private placement, strengthening its balance sheet for future growth initiatives [7][13] Market Outlook - The company anticipates continued growth in the RV market throughout 2025, supported by strong demand for its products [4] - Expion360 is focused on expanding its sales across its product portfolio and developing new technologies and batteries [7] - The company expects to announce additional milestones in the coming months, with substantial purchase orders already in hand [7]