XPON Delivers 72% Sales Growth and Swings to Profit as Leadership Signals Next Expansion Phase
New CEO Guides XPON to Substantial Turnaround with Sales Momentum and Net Profit
Expion360 (NASDAQ:XPON), a provider of lithium-ion battery solutions, reported a third quarter defined by explosive sales growth and a decisive move back into profitability. With Joseph Hammer stepping in as CEO and new appointments across the finance team, XPON is building a platform for its next stage of expansion after a turbulent period.
Financial Highlights: Net Sales Up 72%, Gross Margin Doubles
Net sales for Q3 2025 soared 72% year over year to $2.39 million, outpacing the $1.39 million posted in Q3 2024. The company’s gross profit margin improved dramatically—more than doubling from 12% last year to 23% in Q3 2025, as product mix and cost management took hold. This combination fueled a $0.7 million net profit for the quarter, a major improvement from an $8.81 million net loss a year ago.
| Key Metrics | Q3 2025 | Q3 2024 | % Change |
|---|---|---|---|
| Net Sales | $2.39M | $1.39M | +72% |
| Gross Profit | $0.54M | $0.17M | +222% |
| Gross Margin (%) | 23% | 12% | +11 pts |
| Net Income / (Loss) | $0.72M | ($8.81M) | N/A |
Balance Sheet Strength: Cash Quadruples and Equity Rises
XPON’s cash and cash equivalents grew from $0.55 million at the end of 2024 to $4.29 million as of September 30, 2025—up 684%. Working capital increased fourfold to $8.5 million. The boost was largely fueled by new capital, cost reductions, and better working capital management. Notably, stockholders’ equity climbed from $2.5 million to $9 million, while total liabilities dropped by over 70%—setting the stage for flexibility in expansion and R&D investments.
| Balance Sheet Snapshot | Sep 30, 2025 | Dec 31, 2024 | % Change |
|---|---|---|---|
| Cash & Equivalents | $4.29M | $0.55M | +684% |
| Working Capital | $8.5M | $2.0M | +325% |
| Stockholders’ Equity | $9.0M | $2.5M | +258% |
| Total Liabilities | $1.68M | $6.59M | -74% |
Leadership and Strategy: Management Changes Aim at Market Expansion
With Mr. Hammer taking the helm as CEO and Shawna Bowin promoted to CFO, the company signals a push for strategic growth in both OEM penetration and residential energy storage. Management notes robust demand in the RV battery segment and plans for further product innovation, technology development, and new customer onboarding—moves expected to sustain momentum.
In their commentary, leadership highlighted the regained compliance with Nasdaq, expansion into adjacent markets, and long-term focus on both profitability and market leadership within lithium iron phosphate (LiFePO4) solutions.
Takeaway: Solid Growth Foundation for Future Expansion
XPON’s third quarter performance demonstrates more than a bounce-back—it shows significant structural improvement in margin, balance sheet strength, and operational discipline. Investors watching XPON may find the alignment of new management, strengthened finances, and clear growth strategy as potential drivers for continued outperformance, though execution and competitive dynamics remain important factors to watch.
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