Expion360 Inc.

Listed Company

XPONCIK 0001894954NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthMiscellaneous Electrical Machinery, Equipment & SuppliesNevadaFY ends Dec 31

Period

FY 2025

Revenue

$9.65M

Net Income

$-6.24M

Total Assets

$8.07M

Equity

$6.54M

Shares Out

11.44M

Op. Cash Flow

$-6.15M

Business

Expion360 Inc. designs, assembles, manufactures, and sells lithium iron phosphate (LiFePO4) batteries and related energy storage solutions. Its main products include LiFePO4 batteries for RV and marine applications, e360 Home Energy Storage Solutions, battery cells, and a suite of accessories such as chargers, inverters, monitors, and a mobile SmartTalk app. The company operates as a single reportable Energy Storage segment focused on battery pack design, engineering, and intellectual property development. It sells primarily in the United States through dealers, wholesalers, private-label customers, OEMs, national retail partners, and direct-to-consumer channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	10	6	6	7	5
Cost of sales	8	4	4	5	3
Gross profit	1	1	2	2	2
Selling, general and administrative	12	8	9	8	3
Loss from operations	−11	−7	−7	−6	−1
Interest income	−16,147	−86,121	—	—	—
Interest expense	20,226	976,618	124,511	—	—
Loss on sale of property and equipment	13,353	146,760	3,426	−13,312	—
Settlement expense	—	709,900	281,680	—	—
Suspended liability expense / (income)	−4	5	—	—	—
Other (income) / expense	48	−6,073	−394	—	—
Total other (income) / expense	−4	7	283,369	2	3
Loss before taxes	−6	−13	−7	−8	−5
Tax (income) / expense	150	−1,548	3,293	−8,850	9,300
Net loss	−6	−13	−7	−8	−5
Net loss per share basic	−1.13	−21.03	−108.25	—	—
Net loss per share diluted	−1.13	−21.03	−108.25	—	—
Weighted-average number of common shares outstanding basic	6	641,011	68,882	—	—
Weighted-average number of common shares outstanding diluted	6	641,011	68,882	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-07-31	FY 2025 2025-01-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash and cash equivalents	3	—	—	547,565	4
Accounts receivable, net	718,964	—	—	613,022	154,935
Inventory	3	—	—	5	4
Prepaid/in-transit inventory	318,440	—	—	2	163,948
Prepaid expenses and other current assets	179,645	—	—	236,461	189,418
Total current assets	7	—	—	8	8
Property and equipment	807,083	—	—	914,081	1
Accumulated depreciation	−478,861	—	—	−430,191	−430,295
Property and equipment, net	328,222	—	—	483,890	918,031
Operating leases right-of-use asset	666,199	—	—	754,832	3
Deposits	32,016	—	—	27,471	58,896
Total other assets	698,215	—	—	782,303	3
Total assets	8	—	—	9	12
Accounts payable	403,792	—	—	338,091	286,985
Customer deposits	2,978	—	—	48,474	17,423
Accrued expenses and other current liabilities	221,863	—	—	187,464	292,515
Current portion of operating lease liability	337,246	—	—	256,153	522,764
Current portion of long-term debt	31,058	—	—	31,758	50,839
Suspended liability	—	4	4	5	—
Total current liabilities	996,937	—	—	6	4
Long-term debt, net of current portion and discount	166,187	—	—	198,412	298,442
Operating lease liability, net of current portion	372,478	—	—	542,764	2
Total liabilities	2	—	—	7	7
Preferred stock, par value $.001; 20,000,000 shares authorized; 0zero 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	69
Additional paid-in capital	47	—	—	37	26
Accumulated deficit	−41	—	—	−35	−21
Total stockholders equity	7	—	—	3	5
Total liabilities and stockholders equity	8	—	—	9	12

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−6	−13	−7	−8	−5
Depreciation	116,645	173,973	205,723	164,767	61,084
Amortization of convertible note costs	—	667,144	—	1	117,588
Loss on sale of property and equipment	13,353	146,760	3,426	−13,312	−8,521
Stock-based settlement	—	209,000	251,680	—	—
Stock-based compensation	1	616,632	560,365	2	188,100
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	5	—	—	—
Increase in accounts receivable	−105,942	−458,087	161,904	458,322	—
(Increase) / Decrease in inventory	1	−1	704,746	−2	−2
(Increase) / Decrease in prepaid/in-transit inventory	1	−1	−22,338	—	—
(Increase) / Decrease in prepaid expenses and other current assets	56,816	−47,043	−17,626	−100,088	−69,552
(Increase) / Decrease in deposits	−4,545	31,425	5,005	—	−55,784
Increase in accounts payable	65,701	51,106	56,735	−3,792	11,177
Increase / (Decrease) in customer deposits	−45,496	31,051	17,365	−436,590	—
Increase in accrued expenses and other current liabilities	34,399	21,819	−13,649	165,546	—
Increase / (Decrease) in right-of-use assets and lease liabilities	−560	9,789	30,510	41,286	19,248
Decrease in suspended liability	−500,000	—	—	—	—
Net cash used in operating activities	−6	−10	−6	−5	−4
Purchases of property and equipment	—	−19,203	−20,170	—	—
Net proceeds from sale of property and equipment	4,250	132,611	36,748	51,678	—
Net cash provided by investing activities	4,250	113,408	16,578	−515,692	−113,694
Principal payments on convertible note	—	−3	2	—	—
Principal payments on long-term debt	−32,925	−119,111	−161,194	−2	−26,687
Principal payments on stockholder promissory notes	—	−762,500	−62,500	—	—
Net proceeds from exercise of warrants	6	185,434	49,800	—	—
Net proceeds from issuance of common stock	3	10	—	15	838,400
Net cash provided by financing activities	9	6	2	12	4
Net change in cash and cash equivalents	2	−3	−3	6	482,563
Cash paid for interest	20,894	220,714	121,894	435,152	341,257
Cash paid / (received) for franchise taxes	150	−258	1,853	300	1,829
Acquisition/modification of operating lease right-of-use asset and lease liability	198,216	—	—	—	—
Issuance of common stock for payment on accrued interest	—	90,839	—	—	—
Issuance of common stock for payment on accrued compensation	—	36,029	—	—	—

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