Expion360 (US:XPON) Globenewswire·2025-11-13 21:05Core Insights - Expion360 Inc. reported a significant sales growth of 72% year-over-year, reaching $2.4 million in Q3 2025, driven by strong demand for lithium iron phosphate (LiFePO4) batteries and accessories, particularly in the RV market [4][9][7] - The company has appointed new leadership, including Joseph Hammer as CEO and Shawna Bowin as CFO, to guide the next phase of growth and expansion [5][4] - The financial results indicate a recovery in the RV market and successful onboarding of new customers, contributing to enhanced sales efforts and strategic marketing initiatives [9][13] Financial Performance - For Q3 2025, net sales totaled $2.4 million, a 72% increase from $1.4 million in Q3 2024 [9][7] - Gross profit for Q3 2025 increased by 222% to $0.5 million, representing 23% of net sales, compared to 12% in the prior year [10][7] - Selling, general, and administrative expenses rose to $3.5 million, a 69% increase from $2.1 million in Q3 2024, but decreased as a percentage of net sales from 151% to 148% [11][7] - Net income for Q3 2025 was $0.7 million, a significant improvement from a net loss of $8.8 million in the same period last year [12][7] Year-to-Date Performance - For the nine months ended September 30, 2025, net sales reached $7.4 million, up 104% from $3.6 million in the prior year [13][7] - Gross profit for the nine months increased by 133% to $1.7 million, or 22% of sales, compared to 20% in the previous year [14][7] - Selling, general, and administrative expenses for the nine months increased by 14% to $7.2 million, while decreasing as a percentage of sales from 173% to 96% [15][7] - The net loss for the nine months was $1.8 million, an improvement from a loss of $13.2 million in the prior year [16][7] Cash and Equity Position - Cash and cash equivalents as of September 30, 2025, totaled $4.3 million, a substantial increase of approximately $3.7 million from $0.5 million at the end of 2024 [17][7] - Working capital improved to $8.5 million from $2.0 million as of December 31, 2024, reflecting a 327% increase [17][7] - Stockholders' equity rose to $9.0 million from $2.5 million at the end of 2024, marking a 258% increase [17][7] Strategic Initiatives - The company plans to focus on expanding OEM market penetration, developing home energy storage solutions, and introducing new battery technologies [6][8] - Expion360 aims to leverage its strong financial foundation to drive growth and explore potential expansions into related energy storage markets [6][8]