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Highlights

  • XPON's Q2 2025 net sales rose 134% year-on-year to AUD 3.0 million, marking the sixth consecutive quarter of sales growth.

  • First-half 2025 net loss reduced by 43% year-on-year to AUD 2.5 million, supported by higher sales and lower operating expenses.

  • XPON's Cash and cash equivalents were AUD 0.7 million as of 30 June 2025.

Expion360 Inc. (Nasdaq:XPON), a lithium iron phosphate battery power storage provider, has announced its financial and operational results for the second quarter and first half ended 30 June 2025.

Second Quarter 2025 Performance
Net sales in Q2 2025 totaled AUD 3.0 million, up 134% from AUD 1.3 million in Q2 2024 and up 46% from Q1 2025. The increase was driven primarily by sales growth in the recreational vehicle (RV) market and accessory sales through integrator partners. This marked the sixth consecutive quarter of sales growth.

Gross profit for the quarter was AUD 0.6 million, representing 21% of sales, compared with AUD 0.3 million, or 25% of sales, in the prior year period. The decline in gross margin percentage was mainly due to differences in product mix sold across periods.

Selling, general and administrative (SG&A) expenses totaled AUD 2.0 million, broadly in line with the prior year’s level. As a percentage of sales, SG&A fell from 157% in Q2 2024 to 66% in Q2 2025, reflecting higher sales volume. Lower rent and related expenses were partially offset by increases in travel, research and development, and other costs.

Net loss for the quarter was AUD 1.4 million, improving 38% from AUD 2.2 million in Q2 2024, due mainly to higher sales combined with stable SG&A spending.

First Half 2025 Results

For the six months ended 30 June 2025, net sales were AUD 5.0 million, an increase of 124% from AUD 2.2 million in the first half of 2024. Sales growth was attributed to expansion in the RV segment and higher accessory sales via integrator partners.

Gross profit for the first half was AUD 1.1 million, representing 22% of sales, compared with AUD 0.5 million, or 24% of sales, in the prior year. The change in margin percentage was attributed to product mix differences.

SG&A expenses fell 14% year-on-year to AUD 3.6 million, driven by lower salaries and benefits, rent, and legal and professional fees. This was partially offset by higher research and development costs. As a percentage of sales, SG&A declined from 186% in the first half of 2024 to 72% in the first half of 2025.

Net loss for the first half was AUD 2.5 million, a 43% improvement from AUD 4.4 million in the same period last year, supported by higher sales and reduced operating expenses.

Cash and cash equivalents were AUD 0.7 million as of 30 June 2025, compared with AUD 0.5 million at 31 December 2024. Net cash used in operating activities for the first half was AUD 1.6 million, compared with AUD 3.4 million in the prior year, primarily due to the receipt of prepaid inventory.