Expion360 Inc. reported its financial and operational results for the first quarter ended March 31, 2025. The company achieved $2.0 million in revenue, representing a 111% increase year-over-year from $1.0 million in Q1 2024, marking its fifth consecutive quarter of sequential revenue growth.
Gross profit for the quarter totaled $0.5 million, or 25% of revenue, an increase from 23% in the prior year period. Selling, general and administrative (SG&A) expenses decreased by 25% to $1.6 million, driven by reductions in salaries, benefits, and legal fees.
The net loss for Q1 2025 improved by 48% to $1.2 million, compared to a net loss of $2.2 million in the prior year period, primarily due to higher net sales and decreased SG&A expenses. Cash and cash equivalents stood at $1.1 million as of March 31, 2025.
The company confirmed that production shipments for its Home Energy Storage Solutions began in January and that it closed a $2.6 million registered direct offering on January 3, 2025. Expion360 also noted its efforts to mitigate tariff impacts by building 6-12 months of inventory and continuing discussions with NeoVolta for a potential U.S.-based manufacturing facility.
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