--- title: "Expion360 | 10-K: FY2025 Revenue: USD 9.652 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/279435067.md" datetime: "2026-03-17T12:49:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279435067.md) - [en](https://longbridge.com/en/news/279435067.md) - [zh-HK](https://longbridge.com/zh-HK/news/279435067.md) --- # Expion360 | 10-K: FY2025 Revenue: USD 9.652 M Revenue: As of FY2025, the actual value is USD 9.652 M. EPS: As of FY2025, the actual value is USD -1.13. EBIT: As of FY2025, the actual value is USD -10.7 M. #### Net Sales (Revenue) Net sales for Expion360 Inc.’s Energy Storage (ES) segment increased by $4.0 million, or 71.6%, to $9.7 million for the year ended December 31, 2025, from $5.6 million for the year ended December 31, 2024, driven by an expanded customer base, increased sales to key customers, and broader adoption of LiFePO4 battery platforms . #### Cost of Sales Cost of sales for the ES segment increased by $3.8 million, or 86.0%, reaching $8.3 million for the year ended December 31, 2025, compared to $4.5 million for the year ended December 31, 2024 . As a percentage of sales, cost of sales increased by 6.7 percentage points to 86.1% in 2025 from 79.5% in 2024, including a one-time $0.9 million adjustment for obsolete inventory . Excluding this adjustment, cost of sales as a percentage of sales would have decreased by 2.7 percentage points to 76.8% in 2025 . #### Gross Profit Gross profit for the ES segment increased by $0.2 million, or 15.8%, to $1.3 million for the year ended December 31, 2025, from $1.2 million for the year ended December 31, 2024 . Gross profit as a percentage of sales decreased by 6.7% to 13.9% in 2025, down from 20.5% in 2024, primarily due to the one-time adjustment for obsolete inventory . Prior to this adjustment, gross profit for 2025 would have been $2.2 million, and as a percentage of sales, would have increased by 2.7 percentage points to 23.2% . #### Selling, General, and Administrative (SG&A) Expenses SG&A expenses increased by $4.1 million, or 52.2%, to $12.0 million for the year ended December 31, 2025, compared to $7.9 million for the year ended December 31, 2024, primarily due to higher salaries and benefits, increased stock-based compensation, and higher legal and professional fees . As a percentage of net sales, SG&A decreased to 124.8% in 2025 from 140.6% in 2024 . #### Loss from Operations Loss from operations for the ES segment was - $10.7 million for the year ended December 31, 2025, compared to - $6.8 million for the year ended December 31, 2024 . #### Other (Income) / Expense - Net Expion360 Inc. reported other income of $4.5 million for the year ended December 31, 2025, a significant change from an expense of - $6.7 million in 2024 . This income was mainly due to the reversal of a previously recognized - $4.5 million suspended liability expense associated with the Series A Warrants’ cash true-up provision . #### Net Loss Expion360 Inc. reported a net loss of - $6.2 million for the year ended December 31, 2025, a reduction from a net loss of - $13.5 million for the year ended December 31, 2024 . #### Cash Flow from Operating Activities Net cash used in operating activities decreased to - $6.1 million for the year ended December 31, 2025, from - $9.6 million in 2024, an improvement primarily due to lower net losses and favorable changes in working capital . #### Cash Flow from Investing Activities Net cash provided by investing activities was $4,250 for the year ended December 31, 2025, related to the sale of small vehicles, compared to $113,408 in 2024, primarily from the sale of property and equipment . #### Cash Flow from Financing Activities Net cash provided by financing activities was $8.6 million for the year ended December 31, 2025, driven by $5.7 million from warrant exercises and $2.9 million from common stock issuance . In 2024, financing activities provided $6.1 million . #### Cash and Cash Equivalents Cash and cash equivalents increased to $3.0 million as of December 31, 2025, from $0.5 million as of December 31, 2024 . #### Customer Concentration Sales to four customers accounted for approximately 60% of gross sales during 2025 and represented 69% of outstanding accounts receivable as of December 31, 2025 . In 2024, sales to one customer accounted for approximately 14% of gross sales, and four other customers held 60% of total accounts receivable . #### Long-Term Debt and Operating Lease Liabilities As of December 31, 2025, long-term debt totaled $197,000, and total operating lease liabilities were $710,000 . #### Outlook / Guidance Management anticipates potential additional tariffs on products sourced from Asian third-party manufacturers in 2026, which Expion360 Inc. aims to mitigate through various strategies . The company plans to release three new lithium-ion battery models in the second half of 2026 to increase capacity and meet UL 1973 safety standards . Additionally, Expion360 Inc. entered into a strategic partnership with Dealer Accessory Supply (DAS) in February 2026 to launch the DASGen Hybrid Energy Storage System, marking its entry into the industrial energy storage market . ### Related Stocks - [XPON.US](https://longbridge.com/en/quote/XPON.US.md) ## Related News & Research - [Expion360 GAAP EPS of -$1.13, revenue of $9.65M](https://longbridge.com/en/news/279483561.md) - [Expion360 Q4 net loss widens on higher R&D and legal expenses](https://longbridge.com/en/news/279433499.md) - [Expion360 Enters $15M Sales Agreement with Aegis](https://longbridge.com/en/news/269783725.md) - [Expion360 Q1 revenue falls 24%, net loss widens](https://longbridge.com/en/news/286608400.md)