Expion360 Inc. (Nasdaq: XPON), a leader in lithium-ion battery power storage, announced its financial results for the first quarter ended March 31, 2025. The company reported a revenue of $2.0 million, marking a significant increase of 111% from the $1.0 million recorded in the same period last year, and a 3% increase from the fourth quarter of 2024. This growth was driven by new products and technologies, as well as the start of fulfilling purchase orders for the e360 Home Energy Storage Solutions. The gross profit for the first quarter of 2025 was $0.5 million, representing 25% of the revenue. This is an increase from $0.2 million or 23% of revenue in the prior year period, attributed mainly to higher sales and a lower cost of goods sold as a percentage of sales. Selling, general, and administrative expenses saw a notable decrease of 25% to $1.6 million, down from $2.2 million in the previous year, primarily due to reduced salaries and benefits. Expion360 also closed a $2.6 million registered direct offering and private placement under Nasdaq rules, strengthening its financial position. The company continues to focus on expanding its Home Energy Storage Solutions vertical and entering new OEM partnerships and distributor relationships.
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