What is Expion360's operating income?

Expion360's total operating income in 2025 was -$10.70 million, based on the following breakdown: Total Gross Profit: $1.34 million Total Operating Expenses: $12.04 million

Expion360 (XPON) Financials

$3.30 -0.20 (-5.71%)

Closing price 07/24/2026 04:00 PM Eastern

Extended Trading

$3.31 +0.01 (+0.30%)

As of 07/24/2026 07:34 PM Eastern

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Annual Income Statements for Expion360

This table shows Expion360's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	4.52	-7.54	-6.89	-5.16	-11
Consolidated Net Income / (Loss)	-4.72	-7.54	-7.46	-13	-6.24
Net Income / (Loss) Continuing Operations	4.52	-7.54	-6.89	-5.16	-11
Total Pre-Tax Income	-4.71	-7.55	-7.45	-13	-6.24
Total Operating Income	-1.26	-5.95	-7.17	-6.75	-11
Total Gross Profit	1.65	2.29	1.58	1.16	1.34
Total Revenue	4.52	7.16	5.98	5.62	9.65
Operating Revenue	4.52	7.16	5.98	5.62	9.65
Total Cost of Revenue	2.87	4.87	4.41	4.47	8.31
Operating Cost of Revenue	2.87	4.87	4.41	4.47	8.31
Total Operating Expenses	2.92	8.24	8.75	7.20	12
Selling, General & Admin Expense	2.91	8.24	8.75	7.91	12
Other Special Charges / (Income)	0.01	0.00	-	-0.71	0.00
Total Other Income / (Expense), net	5.80	-1.61	0.28	0.88	0.02
Interest Expense	-2.24	1.61	-0.12	-0.98	-0.02
Other Income / (Expense), net	3.56	-	0.16	-0.09	-0.00
Income Tax Expense	0.01	-0.01	0.00	-0.00	0.00
Basic Earnings per Share	($1.63)	($1.23)	($108.25)	($21.03)	($1.13)
Weighted Average Basic Shares Outstanding	2.89M	6.14M	68.88K	641.01K	5.51M
Diluted Earnings per Share	($1.63)	($1.23)	($108.25)	($21.03)	($1.13)
Weighted Average Diluted Shares Outstanding	2.89M	6.14M	68.88K	641.01K	5.51M
Weighted Average Basic & Diluted Shares Outstanding	2.89M	6.14M	6.89M	3.14M	10.85M

This table shows Expion360's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.81	-1.62	-2.19	-1.14	-8.81	6.99	-1.15	-1.35	0.72	-8.91	-1.76
Consolidated Net Income / (Loss)	-1.81	-2.19	-1.49	-2.22	5.97	-16	-1.15	-1.37	-6.72	3.01	-1.76
Net Income / (Loss) Continuing Operations	-1.81	-1.62	-1.49	-1.14	5.97	-8.50	-1.15	-1.35	-6.72	-1.46	-1.76
Total Pre-Tax Income	-1.81	-2.18	-2.19	-2.22	-8.81	-0.25	-1.15	-1.37	0.72	-4.44	-1.76
Total Operating Income	-1.82	-2.18	-1.97	-1.68	-1.93	-1.18	-1.15	-1.35	-3.00	-5.20	-1.77
Total Gross Profit	0.47	0.21	0.22	0.33	0.17	0.44	0.50	0.62	0.54	-0.33	0.40
Total Revenue	1.89	0.86	0.97	1.28	1.39	1.99	2.05	2.99	2.39	2.22	1.57
Operating Revenue	1.89	0.86	0.97	1.28	1.39	1.99	2.05	2.99	2.39	2.22	1.57
Total Cost of Revenue	1.42	0.65	0.75	0.95	1.22	1.55	1.55	2.37	1.85	2.55	1.17
Operating Cost of Revenue	1.42	0.65	0.75	0.95	1.22	1.55	1.55	2.37	1.85	2.55	1.17
Total Operating Expenses	2.29	2.38	2.19	2.00	1.55	1.46	1.65	1.97	3.54	4.87	2.17
Selling, General & Admin Expense	2.29	2.38	2.19	2.00	2.10	1.62	1.65	1.97	3.54	4.87	2.17
Other Special Charges / (Income)	0.00	-	-0.00	-	-0.55	-	-	0.00	0.00	-	0.00
Total Other Income / (Expense), net	0.02	0.53	0.48	0.54	7.35	-7.49	0.00	0.00	-3.72	3.73	-0.00
Interest Expense	-0.03	-0.11	-0.25	-0.25	-0.47	-0.01	-0.01	-0.00	-0.00	-0.01	-0.01
Other Income / (Expense), net	-0.01	-	0.23	0.31	6.89	-7.51	-0.00	0.00	-3.73	3.72	-0.01
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	-0.00	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	($26.25)	($23.51)	($31.30)	($30.20)	($24.55)	$10.90	($0.37)	($0.41)	$0.12	($1.62)	($0.17)
Weighted Average Basic Shares Outstanding	69.11K	68.88K	70.06K	73.52K	358.99K	641.01K	3.11M	3.34M	6.00M	5.51M	10.46M
Diluted Earnings per Share	($26.25)	($23.51)	($31.30)	($30.20)	($24.55)	$10.90	($0.37)	($0.41)	$0.10	($1.62)	($0.17)
Weighted Average Diluted Shares Outstanding	69.11K	68.88K	70.06K	73.52K	358.99K	641.01K	3.11M	3.34M	7.57M	5.51M	10.46M
Weighted Average Basic & Diluted Shares Outstanding	0.00	6.89M	7.01M	55.58M	2.10M	3.14M	3.37M	3.47M	9.66M	10.85M	11.44M

This table details how cash moves in and out of Expion360's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.48	11	-3.27	-3.39	2.42
Net Cash From Operating Activities	-3.90	-5.47	-5.53	-9.56	-6.15
Net Cash From Continuing Operating Activities	-0.04	-1.40	-5.53	-9.56	-6.15
Net Income / (Loss) Continuing Operations	4.72	-7.54	-7.46	-13	-6.24
Consolidated Net Income / (Loss)	4.72	-7.54	-7.46	-13	-6.24
Depreciation Expense	0.06	0.16	0.21	0.17	0.12
Amortization Expense	0.21	1.20	0.00	0.67	0.00
Non-Cash Adjustments To Reconcile Net Income	-3.22	3.13	0.81	-0.44	3.88
Changes in Operating Assets and Liabilities, net	-1.81	1.65	0.91	3.52	-3.91
Net Cash From Investing Activities	-0.11	-0.52	0.02	0.11	0.00
Net Cash From Continuing Investing Activities	-0.11	-0.62	0.02	0.11	0.00
Purchase of Property, Plant & Equipment	-0.11	-0.57	-0.02	-0.02	0.00
Sale of Property, Plant & Equipment	0.00	-0.05	0.04	0.13	0.00
Net Cash From Financing Activities	4.49	12	2.25	6.06	8.57
Net Cash From Continuing Financing Activities	4.49	14	2.25	6.06	8.57
Repayment of Debt	-0.31	-1.25	2.20	-3.63	-0.03
Issuance of Common Equity	0.84	15	0.00	9.51	2.87
Other Financing Activities, net	-0.20	-0.01	0.05	0.19	5.73
Cash Interest Paid	0.34	0.44	0.12	0.22	0.02
Cash Income Taxes Paid	0.00	0.00	0.00	-0.00	0.00

This table details how cash moves in and out of Expion360's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.69	1.02	-1.67	-1.36	2.42	-2.78	0.55	-0.41	3.61	-1.32	0.09
Net Cash From Operating Activities	-0.69	-1.32	-1.67	-1.73	-3.24	-2.91	-1.23	-0.40	-2.10	-2.42	-1.13
Net Cash From Continuing Operating Activities	-0.69	-1.32	-1.67	-1.73	-3.24	-2.91	-1.23	-0.40	-2.10	-2.42	-1.13
Net Income / (Loss) Continuing Operations	-1.81	-2.19	-2.19	-2.22	-8.81	-0.25	-1.15	-1.37	0.72	-4.44	-1.76
Consolidated Net Income / (Loss)	-1.81	-2.19	-2.19	-2.22	-8.81	-0.25	-1.15	-1.37	0.72	-4.44	-1.76
Depreciation Expense	0.05	0.05	0.05	0.05	0.05	0.03	0.03	0.03	0.03	0.03	0.02
Non-Cash Adjustments To Reconcile Net Income	0.26	0.32	0.37	-0.27	-0.36	-0.19	1.51	-0.57	0.91	2.02	0.13
Changes in Operating Assets and Liabilities, net	0.81	0.49	-0.06	0.54	5.55	-2.51	-1.62	1.50	-3.76	-0.03	0.48
Net Cash From Investing Activities	0.01	-	0.08	-	0.04	-0.01	0.00	0.00	-	-	0.00
Net Cash From Continuing Investing Activities	0.01	-	0.08	-	0.04	-0.01	0.00	0.00	-	-	0.00
Sale of Property, Plant & Equipment	-0.00	-	0.09	-	0.04	-	0.00	0.00	-	-	0.00
Net Cash From Financing Activities	-0.01	2.35	-0.07	0.37	5.62	0.14	1.77	-0.01	5.70	1.10	1.22
Net Cash From Continuing Financing Activities	-0.01	2.35	-0.07	0.37	5.62	0.14	1.77	-0.01	5.70	1.10	1.22
Repayment of Debt	-0.01	2.35	-0.20	-0.33	-3.09	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01
Issuance of Common Equity	-	-	0.13	0.70	8.68	-	1.78	-	-	1.09	1.22
Cash Interest Paid	0.03	0.03	0.01	0.05	-0.01	0.16	0.01	0.00	0.00	0.01	0.01
Cash Income Taxes Paid	0.00	0.00	0.00	-	-	-0.00	0.00	-	0.00	-	0.00

This table presents Expion360's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	6.53	17	12	9.11	8.07
Total Current Assets	4.75	12	8.27	7.84	7.04
Cash & Equivalents	0.77	7.20	3.93	0.55	2.97
Accounts Receivable	0.78	0.30	0.15	0.61	0.72
Inventories, net	3.13	4.67	3.99	6.44	3.18
Prepaid Expenses	0.07	0.17	0.19	0.24	0.18
Plant, Property, & Equipment, net	0.43	1.14	0.92	0.48	0.33
Plant, Property & Equipment, gross	0.52	1.39	1.35	0.91	0.81
Accumulated Depreciation	0.10	0.25	0.43	0.43	0.48
Total Noncurrent Assets	1.35	3.21	2.72	0.78	0.70
Other Noncurrent Operating Assets	1.35	3.21	2.72	0.78	0.70
Total Liabilities & Shareholders' Equity	6.53	17	12	9.11	8.07
Total Liabilities	4.27	5.09	6.56	6.59	1.54
Total Current Liabilities	1.57	1.57	4.02	5.85	1.00
Short-Term Debt	0.70	0.07	0.05	0.03	0.03
Accounts Payable	0.06	0.23	0.29	0.34	0.40
Accrued Expenses	0.14	0.31	0.29	0.19	0.22
Customer Deposits	0.44	0.00	0.02	0.05	0.00
Other Current Liabilities	0.23	0.97	3.37	5.24	0.34
Total Noncurrent Liabilities	2.70	3.52	2.54	0.74	0.54
Long-Term Debt	1.60	0.76	0.30	0.20	0.17
Other Noncurrent Operating Liabilities	-	2.75	2.24	0.54	0.37
Total Equity & Noncontrolling Interests	2.26	12	5.35	2.52	6.54
Total Preferred & Common Equity	2.26	12	5.35	2.52	6.54
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2.26	12	5.35	2.52	6.54
Common Stock	8.36	25	26	37	47
Retained Earnings	-6.10	-14	-21	-35	-41

This table presents Expion360's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	10	8.76	10	9.24	8.61	11	7.53
Total Current Assets	6.63	5.55	8.77	8.08	7.38	9.56	6.61
Cash & Equivalents	2.26	0.90	3.33	1.09	0.68	4.29	3.06
Accounts Receivable	0.24	0.35	0.44	0.59	0.72	0.57	0.62
Inventories, net	3.90	4.08	4.73	6.19	5.62	4.21	2.61
Prepaid Expenses	0.23	0.22	0.28	0.21	0.35	0.49	0.33
Plant, Property, & Equipment, net	0.79	0.75	0.51	0.45	0.38	0.35	0.30
Plant, Property & Equipment, gross	1.21	1.21	0.91	0.91	0.81	0.81	0.81
Accumulated Depreciation	0.42	0.47	0.40	0.46	0.43	0.45	0.50
Total Noncurrent Assets	2.59	2.46	0.85	0.71	0.85	0.78	0.62
Other Noncurrent Operating Assets	2.59	2.46	0.85	0.71	0.85	0.78	0.62
Total Liabilities & Shareholders' Equity	10	8.76	10	9.24	8.61	11	7.53
Total Liabilities	6.34	6.23	7.58	6.05	6.54	1.68	1.48
Total Current Liabilities	4.02	4.05	6.77	5.38	5.81	1.04	1.03
Short-Term Debt	0.73	0.73	0.03	0.03	0.03	0.03	0.03
Accounts Payable	0.28	0.43	0.33	0.37	0.68	0.52	0.42
Accrued Expenses	0.25	0.28	0.21	0.20	0.25	0.15	0.24
Customer Deposits	0.01	0.01	0.04	0.04	0.05	0.01	0.00
Other Current Liabilities	2.74	2.59	6.15	4.74	4.80	0.33	0.33
Total Noncurrent Liabilities	2.33	2.18	0.81	0.67	0.73	0.63	0.45
Long-Term Debt	0.22	0.22	0.21	0.19	0.18	0.18	0.16
Other Noncurrent Operating Liabilities	2.10	1.97	0.61	0.48	0.55	0.46	0.30
Total Equity & Noncontrolling Interests	3.68	2.52	2.54	3.20	2.07	9.01	6.05
Total Preferred & Common Equity	3.68	2.52	2.54	3.20	2.07	9.01	6.05
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3.68	2.52	2.54	3.20	2.07	9.01	6.05
Common Stock	27	28	37	39	39	45	49
Retained Earnings	-23	-26	-34	-36	-37	-36	-43

This table displays calculated financial ratios and metrics derived from Expion360's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	6,802,464.00	6,910,717.00	2,096,082.00	9,656,739.00
DEI Adjusted Shares Outstanding	0.00	68,025.00	69,107.00	2,096,082.00	9,656,739.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-110.79	-99.69	-2.46	-1.11
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	58.56%	-16.50%	-5.96%	71.59%
EBITDA Growth	0.00%	-278.59%	-48.21%	11.76%	-76.34%
EBIT Growth	0.00%	-359.18%	-17.76%	2.35%	-56.38%
NOPAT Growth	0.00%	-371.24%	-20.43%	5.80%	-58.48%
Net Income Growth	0.00%	-59.64%	1.07%	-80.78%	53.74%
EPS Growth	0.00%	24.54%	1.07%	80.57%	94.63%
Operating Cash Flow Growth	0.00%	-40.33%	-1.15%	-72.88%	35.69%
Free Cash Flow Firm Growth	0.00%	0.00%	65.90%	-234.40%	-75.41%
Invested Capital Growth	0.00%	7.36%	-66.30%	24.61%	71.01%
Revenue Q/Q Growth	0.00%	1.62%	-8.60%	25.05%	2.55%
EBITDA Q/Q Growth	0.00%	-13.17%	-9.15%	12.86%	-61.55%
EBIT Q/Q Growth	0.00%	-8.30%	-8.90%	11.66%	-60.26%
NOPAT Q/Q Growth	0.00%	-8.30%	-11.37%	12.85%	-60.22%
Net Income Q/Q Growth	0.00%	25.07%	-10.63%	-17,287.07%	75.05%
EPS Q/Q Growth	0.00%	0.00%	-10.63%	45.15%	-228.41%
Operating Cash Flow Q/Q Growth	0.00%	6.10%	-11.14%	-19.94%	7.37%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-133.02%	-5.69%	10.70%
Invested Capital Q/Q Growth	0.00%	-42.91%	0.00%	507.28%	-23.56%
Profitability Metrics	-	-	-	-	-
Gross Margin	36.43%	31.95%	26.34%	20.54%	13.86%
EBITDA Margin	56.91%	-64.10%	-113.77%	-106.76%	-109.72%
Operating Margin	-27.97%	-83.12%	-119.87%	-120.07%	-110.90%
EBIT Margin	50.85%	-83.12%	-117.21%	-121.71%	-110.92%
Profit (Net Income) Margin	-104.50%	-105.22%	-124.66%	-239.64%	-64.60%
Tax Burden Percent	100.20%	99.88%	100.04%	99.99%	100.00%
Interest Burden Percent	-205.12%	126.74%	106.31%	196.91%	58.24%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-18.12%	-82.34%	-143.24%	-238.34%	-251.22%
ROIC Less NNEP Spread (ROIC-NNEP)	-164.25%	97.81%	-94.24%	210.37%	-332.62%
Return on Net Nonoperating Assets (RNNOA)	-191.10%	-26.39%	55.29%	-104.30%	113.49%
Return on Equity (ROE)	-209.21%	-108.73%	-87.95%	-342.64%	-137.73%
Cash Return on Invested Capital (CROIC)	0.00%	-89.44%	-44.06%	-260.26%	-303.63%
Operating Return on Assets (OROA)	35.20%	-51.27%	-49.02%	-65.16%	-124.65%
Return on Assets (ROA)	-72.34%	-64.90%	-52.13%	-128.30%	-72.59%
Return on Common Equity (ROCE)	-209.21%	-108.73%	-87.95%	-342.64%	-137.73%
Return on Equity Simple (ROE_SIMPLE)	-209.21%	-64.93%	-139.38%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.88	-4.17	-5.02	-4.73	-7.49
NOPAT Margin	-19.58%	-58.18%	-83.91%	-84.05%	-77.63%
Net Nonoperating Expense Percent (NNEP)	146.14%	-180.14%	-49.00%	-448.71%	81.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-88.06%	-172.01%	-111.28%
Cost of Revenue to Revenue	63.57%	68.05%	73.66%	79.46%	86.14%
SG&A Expenses to Revenue	64.40%	115.06%	146.21%	140.61%	124.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	64.58%	115.06%	146.21%	127.99%	124.75%
Earnings before Interest and Taxes (EBIT)	2.30	-5.95	-7.01	-6.85	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2.57	-4.59	-6.81	-6.01	-11
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	6.65	1.35	6.96	1.99	1.00
Price to Tangible Book Value (P/TBV)	6.65	1.35	6.96	1.99	1.00
Price to Revenue (P/Rev)	3.32	2.18	6.23	0.89	0.68
Price to Earnings (P/E)	3.32	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	30.14%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.61	1.77	19.06	2.13	1.00
Enterprise Value to Revenue (EV/Rev)	3.90	1.30	5.63	0.83	0.39
Enterprise Value to EBITDA (EV/EBITDA)	6.86	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	7.68	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	1.51	0.07	0.07	0.09	0.03
Long-Term Debt to Equity	1.20	0.07	0.06	0.08	0.03
Financial Leverage	1.16	-0.27	-0.59	-0.50	-0.34
Leverage Ratio	2.89	1.68	1.69	2.67	1.90
Compound Leverage Factor	-5.93	2.12	1.79	5.26	1.11
Debt to Total Capital	60.10%	6.71%	6.13%	8.37%	2.93%
Short-Term Debt to Total Capital	12.40%	0.57%	0.89%	1.16%	0.46%
Long-Term Debt to Total Capital	47.70%	6.14%	5.24%	7.22%	2.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.90%	93.29%	93.87%	91.63%	97.07%
Debt to EBITDA	1.32	-0.18	-0.05	-0.04	-0.02
Net Debt to EBITDA	1.02	1.39	0.53	0.05	0.26
Long-Term Debt to EBITDA	1.05	-0.17	-0.04	-0.03	-0.02
Debt to NOPAT	-3.84	-0.20	-0.07	-0.05	-0.03
Net Debt to NOPAT	-2.97	1.53	0.71	0.07	0.37
Long-Term Debt to NOPAT	-3.05	-0.18	-0.06	-0.04	-0.02
Altman Z-Score	3.24	0.73	-0.08	-6.46	-6.80
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	3.02	7.85	2.06	1.34	7.07
Quick Ratio	0.99	4.77	1.02	0.20	3.70
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-4.53	-1.54	-5.16	-9.06
Operating Cash Flow to CapEx	-3,427.47%	-883.38%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-2.82	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	-3.41	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-3.79	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.69	0.62	0.42	0.54	1.12
Accounts Receivable Turnover	5.83	13.35	26.41	14.65	14.49
Inventory Turnover	0.92	1.25	1.02	0.86	1.73
Fixed Asset Turnover	10.57	9.12	5.80	8.02	23.77
Accounts Payable Turnover	45.45	33.22	17.04	14.30	22.41
Days Sales Outstanding (DSO)	62.63	27.34	13.82	24.92	25.19
Days Inventory Outstanding (DIO)	398.22	292.22	358.78	426.00	211.19
Days Payable Outstanding (DPO)	8.03	10.99	21.43	25.52	16.28
Cash Conversion Cycle (CCC)	452.82	308.58	351.18	425.40	220.09
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	4.88	5.24	1.77	2.20	3.76
Invested Capital Turnover	0.93	1.42	1.71	2.84	3.24
Increase / (Decrease) in Invested Capital	0.00	0.36	-3.47	0.43	1.56
Enterprise Value (EV)	18	9.28	34	4.69	3.77
Market Capitalization	15	16	37	5.01	6.55
Book Value per Share	$0.78	$1.71	$0.77	$1.20	$0.68
Tangible Book Value per Share	$0.78	$1.71	$0.77	$1.20	$0.68
Total Capital	5.65	12	5.70	2.75	6.73
Total Debt	3.40	0.84	0.35	0.23	0.20
Total Long-Term Debt	2.70	0.76	0.30	0.20	0.17
Net Debt	2.63	-6.37	-3.58	-0.32	-2.77
Capital Expenditures (CapEx)	0.11	0.62	-0.02	-0.11	-0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.11	3.64	0.37	1.48	3.11
Debt-free Net Working Capital (DFNWC)	3.88	11	4.30	2.03	6.08
Net Working Capital (NWC)	3.18	11	4.25	1.99	6.05
Net Nonoperating Expense (NNE)	3.84	3.37	2.44	8.75	-1.26
Net Nonoperating Obligations (NNO)	2.63	-6.37	-3.58	-0.32	-2.77
Total Depreciation and Amortization (D&A)	0.27	1.36	0.21	0.84	0.12
Debt-free, Cash-free Net Working Capital to Revenue	68.83%	50.82%	6.16%	26.27%	32.22%
Debt-free Net Working Capital to Revenue	85.94%	151.35%	71.92%	36.00%	62.98%
Net Working Capital to Revenue	70.42%	150.36%	71.07%	35.44%	62.66%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.23)	($108.00)	($21.03)	($1.13)
Adjusted Weighted Average Basic Shares Outstanding	0.00	6.85M	70.37K	641.01K	5.51M
Adjusted Diluted Earnings per Share	$0.00	($1.23)	($108.00)	($21.03)	($1.13)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	6.85M	70.37K	641.01K	5.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.23)	($108.00)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	6.14M	68.88K	3.14M	10.85M
Normalized Net Operating Profit after Tax (NOPAT)	-0.88	-4.17	-5.02	-5.22	-7.49
Normalized NOPAT Margin	-19.44%	-58.18%	-83.91%	-92.89%	-77.63%
Pre Tax Income Margin	-104.30%	-105.34%	-124.61%	-239.67%	-64.60%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	-3.71	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-2.60	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-4.09	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-2.98	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Expion360's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	6,910,717.00	6,910,717.00	7,036,937.00	7,445,261.00	55,576,947.00	2,096,082.00	3,144,468.00	3,374,468.00	3,474,720.00	9,656,739.00	10,846,135.00
DEI Adjusted Shares Outstanding	69,107.00	69,107.00	70,369.00	74,453.00	555,769.00	2,096,082.00	3,144,468.00	3,374,468.00	3,474,720.00	9,656,739.00	10,846,135.00
DEI Earnings Per Adjusted Shares Outstanding	-26.25	-23.43	-31.16	-15.29	-15.86	3.33	-0.37	-0.40	0.21	-0.92	-0.16
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	36.67%	-39.60%	-35.52%	-25.91%	-26.49%	131.21%	110.87%	133.94%	72.23%	11.78%	-23.59%
EBITDA Growth	-48.85%	-52.25%	20.18%	19.80%	401.16%	-307.60%	26.87%	-13.94%	-225.55%	83.20%	-57.32%
EBIT Growth	-47.22%	-50.67%	11.11%	8.51%	371.86%	-299.43%	33.99%	1.43%	-235.67%	82.98%	-54.83%
NOPAT Growth	-44.42%	-50.67%	-17.26%	-12.12%	-6.02%	45.76%	41.64%	19.57%	-122.46%	-340.78%	-54.28%
Net Income Growth	-41.81%	-48.77%	24.71%	-50.14%	429.25%	-620.22%	22.61%	38.35%	-212.55%	119.11%	-52.97%
EPS Growth	0.00%	0.00%	24.71%	-50.14%	429.25%	146.36%	98.82%	98.64%	100.41%	-114.86%	54.05%
Operating Cash Flow Growth	65.20%	-72.12%	-17.52%	17.37%	-372.62%	-120.11%	26.50%	76.88%	35.39%	16.79%	8.23%
Free Cash Flow Firm Growth	178.59%	242.37%	140.77%	190.37%	-110.23%	-164.62%	-144.74%	-98.74%	-946.45%	-312.79%	-175.13%
Invested Capital Growth	0.00%	-66.30%	-56.54%	-57.55%	0.00%	24.61%	-1.75%	-37.91%	1,011.15%	71.01%	36.84%
Revenue Q/Q Growth	9.56%	-54.57%	13.18%	31.51%	8.71%	42.89%	3.22%	45.90%	-19.96%	-7.26%	-29.45%
EBITDA Q/Q Growth	-22.78%	-19.88%	28.21%	24.10%	561.07%	-262.25%	87.12%	-18.25%	-408.03%	78.29%	-20.65%
EBIT Q/Q Growth	-21.82%	-19.33%	19.99%	21.34%	462.00%	-275.32%	86.78%	-17.47%	-398.24%	78.01%	-20.30%
NOPAT Q/Q Growth	-21.45%	-19.69%	9.63%	14.65%	-14.83%	38.77%	2.76%	-17.63%	-217.63%	-21.33%	65.97%
Net Income Q/Q Growth	-22.68%	-20.49%	31.90%	-49.15%	369.04%	-363.57%	92.68%	-18.82%	-391.12%	144.75%	-158.57%
EPS Q/Q Growth	-22.68%	-20.49%	31.90%	-49.15%	369.04%	144.40%	-103.39%	-10.81%	124.39%	-1,720.00%	89.51%
Operating Cash Flow Q/Q Growth	67.31%	-92.88%	-26.32%	-3.73%	-86.99%	10.17%	57.82%	67.37%	-422.56%	-15.70%	53.48%
Free Cash Flow Firm Q/Q Growth	409.46%	-75.33%	-12.71%	35.57%	-135.03%	-55.86%	39.57%	103.82%	-29,188.90%	38.52%	59.72%
Invested Capital Q/Q Growth	-100.00%	0.00%	34.03%	8.57%	-121.03%	507.28%	5.68%	-31.38%	208.53%	-23.56%	-15.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	25.00%	23.89%	22.90%	25.46%	12.14%	22.09%	24.47%	20.82%	22.67%	-14.84%	25.29%
EBITDA Margin	-93.76%	-247.40%	-156.94%	-90.57%	384.11%	-436.14%	-54.43%	-44.11%	-279.99%	-65.53%	-112.06%
Operating Margin	-96.21%	-253.46%	-202.39%	-131.35%	-138.74%	-59.46%	-56.01%	-45.16%	-125.45%	-234.44%	-113.10%
EBIT Margin	-96.50%	-253.46%	-179.19%	-107.17%	356.87%	-437.86%	-56.09%	-45.16%	-281.10%	-66.66%	-113.66%
Profit (Net Income) Margin	-95.98%	-254.56%	-153.17%	-173.71%	429.89%	-792.95%	-56.21%	-45.78%	-280.91%	135.55%	-112.54%
Tax Burden Percent	100.08%	100.09%	67.90%	100.02%	-67.77%	6,184.41%	100.00%	100.00%	-930.07%	-67.80%	100.00%
Interest Burden Percent	99.39%	100.35%	125.90%	162.05%	-177.75%	2.93%	100.22%	101.38%	-10.74%	299.92%	99.01%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-302.87%	-197.45%	-106.58%	0.00%	-118.02%	-111.99%	-127.60%	-538.68%	-531.11%	-263.53%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-289.56%	-193.59%	-17.73%	0.00%	646.83%	-79.99%	71.38%	-434.94%	-961.68%	-235.57%
Return on Net Nonoperating Assets (RNNOA)	0.00%	169.90%	82.40%	3.80%	0.00%	-320.68%	25.36%	-6.62%	269.97%	328.12%	95.22%
Return on Equity (ROE)	0.00%	-132.98%	-115.05%	-102.78%	3.08%	-438.70%	-86.63%	-134.22%	-268.71%	-202.98%	-168.30%
Cash Return on Invested Capital (CROIC)	0.00%	-44.06%	-54.80%	-43.22%	0.00%	-260.26%	-175.27%	-141.63%	-205.95%	-303.63%	-318.97%
Operating Return on Assets (OROA)	0.00%	-106.00%	-75.16%	-48.50%	158.48%	-234.42%	-39.04%	-43.74%	-254.17%	-74.90%	-124.25%
Return on Assets (ROA)	0.00%	-106.46%	-64.25%	-78.62%	190.91%	-424.53%	-39.13%	-44.34%	-254.00%	152.32%	-123.03%
Return on Common Equity (ROCE)	0.00%	-132.98%	-115.05%	-102.78%	3.08%	-438.70%	-86.63%	-134.22%	-268.71%	-202.98%	-168.30%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	-189.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.27	-1.52	-1.38	-1.18	-1.35	-0.83	-0.80	-0.95	-3.00	-3.64	-1.24
NOPAT Margin	-67.34%	-177.42%	-141.67%	-91.95%	-97.12%	-41.62%	-39.21%	-31.61%	-125.44%	-164.11%	-79.17%
Net Nonoperating Expense Percent (NNEP)	0.00%	-13.32%	-3.86%	-88.85%	474.69%	-764.84%	-31.99%	-198.97%	-103.74%	430.57%	-27.96%
Return On Investment Capital (ROIC_SIMPLE)	-	-26.73%	-29.74%	-33.84%	-48.46%	-30.06%	-23.51%	-41.44%	-32.57%	-54.10%	-19.87%
Cost of Revenue to Revenue	75.00%	76.11%	77.10%	74.54%	87.86%	77.91%	75.53%	79.18%	77.33%	114.84%	74.71%
SG&A Expenses to Revenue	121.21%	277.35%	225.29%	156.81%	150.88%	81.54%	80.49%	65.98%	148.11%	219.61%	138.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	121.21%	277.35%	225.26%	156.81%	111.49%	73.37%	80.49%	65.98%	148.11%	219.61%	138.39%
Earnings before Interest and Taxes (EBIT)	-1.82	-2.18	-1.74	-1.37	4.96	-8.69	-1.15	-1.35	-6.73	-1.48	-1.78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.77	-2.12	-1.53	-1.16	5.34	-8.66	-1.12	-1.32	-6.70	-1.45	-1.75
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	6.96	5.97	2.95	1.13	1.99	0.93	1.49	0.56	1.00	1.02
Price to Tangible Book Value (P/TBV)	0.00	6.96	5.97	2.95	1.13	1.99	0.93	1.49	0.56	1.00	1.02
Price to Revenue (P/Rev)	4.34	6.23	4.03	1.49	0.64	0.89	0.44	0.37	0.53	0.68	0.67
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.94	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	106.01%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	19.06	8.72	2.91	0.00	2.13	0.90	1.63	0.19	1.00	1.04
Enterprise Value to Revenue (EV/Rev)	0.00	5.63	3.79	1.50	0.00	0.83	0.31	0.31	0.10	0.39	0.36
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.07	0.26	0.38	0.09	0.09	0.07	0.10	0.02	0.03	0.03
Long-Term Debt to Equity	0.00	0.06	0.06	0.09	0.08	0.08	0.06	0.09	0.02	0.03	0.03
Financial Leverage	0.00	-0.59	-0.43	-0.21	-1.21	-0.50	-0.32	-0.09	-0.62	-0.34	-0.40
Leverage Ratio	0.00	1.69	1.91	2.01	3.98	2.67	2.80	3.78	1.80	1.90	1.81
Compound Leverage Factor	0.00	1.69	2.40	3.26	-7.08	0.08	2.81	3.83	-0.19	5.69	1.80
Debt to Total Capital	0.00%	6.13%	20.63%	27.29%	8.62%	8.37%	6.49%	9.37%	2.23%	2.93%	3.04%
Short-Term Debt to Total Capital	0.00%	0.89%	15.80%	21.08%	1.16%	1.16%	0.91%	1.35%	0.33%	0.46%	0.51%
Long-Term Debt to Total Capital	0.00%	5.24%	4.84%	6.21%	7.46%	7.22%	5.57%	8.02%	1.90%	2.47%	2.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	93.87%	79.37%	72.71%	91.38%	91.63%	93.51%	90.63%	97.77%	97.07%	96.96%
Debt to EBITDA	0.00	-0.05	-0.15	-0.13	-0.03	-0.04	-0.04	-0.04	-0.03	-0.02	-0.02
Net Debt to EBITDA	0.00	0.53	0.20	-0.01	0.45	0.05	0.14	0.09	0.62	0.26	0.26
Long-Term Debt to EBITDA	0.00	-0.04	-0.03	-0.03	-0.03	-0.03	-0.03	-0.04	-0.03	-0.02	-0.01
Debt to NOPAT	0.00	-0.07	-0.18	-0.18	-0.04	-0.05	-0.05	-0.05	-0.04	-0.03	-0.02
Net Debt to NOPAT	0.00	0.71	0.25	-0.01	0.57	0.07	0.21	0.12	0.87	0.37	0.36
Long-Term Debt to NOPAT	0.00	-0.06	-0.04	-0.04	-0.04	-0.04	-0.05	-0.05	-0.04	-0.02	-0.02
Altman Z-Score	0.00	1.26	-0.89	-3.10	-2.22	-7.13	-4.45	-5.08	-3.21	-3.03	-4.09
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.06	1.65	1.37	1.30	1.34	1.50	1.27	9.18	7.07	6.44
Quick Ratio	0.00	1.02	0.62	0.31	0.56	0.20	0.31	0.24	4.67	3.70	3.58
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.91	1.95	1.70	2.31	-0.81	-1.26	-0.76	0.03	-8.47	-5.21	-2.10
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	-33,667.10%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.42	0.42	0.45	0.44	0.54	0.70	0.97	0.90	1.12	1.09
Accounts Receivable Turnover	0.00	26.41	12.55	13.12	10.26	14.65	16.12	15.73	18.70	14.49	15.17
Inventory Turnover	0.00	1.02	0.90	0.82	0.76	0.86	1.04	1.38	1.64	1.73	1.81
Fixed Asset Turnover	0.00	5.80	5.74	5.62	8.83	8.02	10.81	14.94	21.82	23.77	24.38
Accounts Payable Turnover	0.00	17.04	5.81	11.57	10.69	14.30	16.21	12.06	17.06	22.41	20.17
Days Sales Outstanding (DSO)	0.00	13.82	29.08	27.83	35.59	24.92	22.64	23.20	19.52	25.19	24.07
Days Inventory Outstanding (DIO)	0.00	358.78	403.89	445.44	482.46	426.00	349.37	265.03	223.13	211.19	202.21
Days Payable Outstanding (DPO)	0.00	21.43	62.83	31.54	34.15	25.52	22.51	30.26	21.40	16.28	18.10
Cash Conversion Cycle (CCC)	0.00	351.18	370.13	441.73	483.89	425.40	349.50	257.97	221.25	220.09	208.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	1.77	2.37	2.57	-0.54	2.20	2.33	1.60	4.92	3.76	3.18
Invested Capital Turnover	0.00	1.71	1.39	1.16	-16.65	2.84	2.86	4.04	4.29	3.24	3.33
Increase / (Decrease) in Invested Capital	-9.18	-3.47	-3.08	-3.48	-0.54	0.43	-0.04	-0.97	5.46	1.56	0.86
Enterprise Value (EV)	0.00	34	21	7.49	-0.21	4.69	2.10	2.60	0.92	3.77	3.31
Market Capitalization	28	37	22	7.45	2.87	5.01	2.97	3.07	5.00	6.55	6.17
Book Value per Share	$0.00	$0.77	$0.52	$0.34	$0.05	$1.20	$1.53	$0.61	$2.59	$0.68	$0.56
Tangible Book Value per Share	$0.00	$0.77	$0.52	$0.34	$0.05	$1.20	$1.53	$0.61	$2.59	$0.68	$0.56
Total Capital	0.00	5.70	4.63	3.47	2.78	2.75	3.42	2.28	9.22	6.73	6.24
Total Debt	0.00	0.35	0.96	0.95	0.24	0.23	0.22	0.21	0.21	0.20	0.19
Total Long-Term Debt	0.00	0.30	0.22	0.22	0.21	0.20	0.19	0.18	0.18	0.17	0.16
Net Debt	0.00	-3.58	-1.31	0.05	-3.09	-0.32	-0.87	-0.47	-4.09	-2.77	-2.87
Capital Expenditures (CapEx)	-0.01	0.00	-0.08	0.00	-0.04	0.01	-0.00	-0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.37	1.09	1.33	-1.29	1.48	1.64	0.91	4.26	3.11	2.56
Debt-free Net Working Capital (DFNWC)	0.00	4.30	3.35	2.24	2.03	2.03	2.73	1.60	8.55	6.08	5.61
Net Working Capital (NWC)	0.00	4.25	2.62	1.50	2.00	1.99	2.70	1.57	8.52	6.05	5.58
Net Nonoperating Expense (NNE)	0.54	0.66	0.11	1.05	-7.32	15	0.35	0.42	3.72	-6.65	0.52
Net Nonoperating Obligations (NNO)	0.00	-3.58	-1.31	0.05	-3.09	-0.32	-0.87	-0.47	-4.09	-2.77	-2.87
Total Depreciation and Amortization (D&A)	0.05	0.05	0.22	0.21	0.38	0.03	0.03	0.03	0.03	0.03	0.02
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	6.16%	19.97%	26.67%	-28.74%	26.27%	24.45%	10.84%	45.21%	32.22%	27.88%
Debt-free Net Working Capital to Revenue	0.00%	71.92%	61.53%	44.73%	45.18%	36.00%	40.75%	18.99%	90.84%	62.98%	61.22%
Net Working Capital to Revenue	0.00%	71.07%	48.10%	30.08%	44.46%	35.44%	40.28%	18.62%	90.51%	62.66%	60.87%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($26.00)	($2,351.00)	($31.00)	($30.00)	($24.55)	$10.90	($0.37)	($0.41)	$0.12	($1.62)	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	69.11K	689.00	74.45K	73.57K	358.99K	641.01K	3.11M	3.34M	6.00M	5.51M	10.46M
Adjusted Diluted Earnings per Share	($26.00)	($2,351.00)	($31.00)	($30.00)	($24.55)	$10.90	($0.37)	($0.41)	$0.10	($1.62)	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	69.11K	689.00	74.45K	73.57K	358.99K	641.01K	3.11M	3.34M	7.57M	5.51M	10.46M
Adjusted Basic & Diluted Earnings per Share	($26.00)	($2,351.00)	($31.00)	$0.00	$0.00	$10.90	$0.00	$0.00	$0.00	($1.62)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	69.11K	68.88K	70.07K	555.77K	2.10M	3.14M	3.37M	3.47M	9.66M	10.85M	11.44M
Normalized Net Operating Profit after Tax (NOPAT)	-1.27	-1.52	-1.38	-1.18	-1.73	-0.83	-0.80	-0.95	-3.00	-3.64	-1.24
Normalized NOPAT Margin	-67.34%	-177.42%	-141.70%	-91.95%	-124.69%	-41.62%	-39.21%	-31.61%	-125.44%	-164.11%	-79.17%
Pre Tax Income Margin	-95.91%	-254.34%	-225.60%	-173.68%	-634.35%	-12.82%	-56.21%	-45.78%	30.20%	-199.92%	-112.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Expion360’s latest quarter showed a sharp revenue rebound, but profitability and cash flow remain under significant pressure. In Q1 2026, revenue rose to $1.57 million, up from $2.22 million in Q4 2025 but still well below some of the stronger periods in the past year. The company posted a net loss of $1.76 million and burned $1.13 million in operating cash, though it ended the quarter with $3.06 million in cash and equivalents.

Revenue improved sequentially versus Q1 2025: Q1 2026 revenue of $1.57 million was up from $1.28 million in Q2 2025 and $0.97 million in Q1 2024, showing that sales have recovered from earlier lows.
Gross profit turned positive again: Q1 2026 gross profit was $396,076, reflecting a gross margin of about 25%, which is much healthier than the negative gross profit seen in Q4 2025.
Cash balance remains solid for a microcap: The company held $3.06 million in cash and equivalents at the end of Q1 2026, up from $684,920 in Q2 2025.
Balance sheet equity improved materially: Total equity rose to $6.05 million in Q1 2026 from $2.07 million in Q2 2025, helped by fresh capital raising.
Operating capital swing helped offset losses: Changes in operating assets and liabilities contributed $481,280 in Q1 2026, which softened the cash burn relative to the reported net loss.
Financing remains the main source of liquidity: Q1 2026 included $1.22 million of common equity issuance, which funded the company but also suggests ongoing reliance on external capital.
Debt load is modest but not gone: Short-term debt was $31,572 and long-term debt was $158,106 in Q1 2026, both relatively small, but still worth monitoring given the company’s losses.
Inventory remains significant: Inventory stood at $2.61 million in Q1 2026, which is a meaningful share of current assets and could become a concern if demand softens.
The company is still posting large losses: Q1 2026 net loss was $1.76 million, and the company has not shown sustained quarterly profitability over the period reviewed.
Operating cash flow remains negative: Q1 2026 operating cash flow was negative $1.13 million, continuing a long trend of cash consumption from operations.
Margins have been volatile: Q4 2025 showed negative gross profit and very weak operating performance, highlighting how quickly profitability can deteriorate.
Share dilution is an ongoing risk: Common equity issuance has repeatedly funded operations, which may dilute existing shareholders over time.
Retained earnings are deeply negative: Retained earnings were $(42.57) million in Q1 2026, reflecting a long history of accumulated losses.

Bottom line: Expion360 appears to have enough cash to keep operating in the near term, and its latest quarter showed better sales and gross profit than some recent periods. However, the business still relies on financing to support operations, and the lack of consistent operating profitability remains the biggest issue for investors.

07/25/26 09:49 PM ETAI Generated. May Contain Errors.

Expion360 Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Expion360's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Expion360's net income appears to be on an upward trend, with a most recent value of -$6.24 million in 2025, rising from -$4.72 million in 2021. The previous period was -$13.48 million in 2024. See Expion360's forecast for analyst expectations on what's next for the company.

Expion360's total operating income in 2025 was -$10.70 million, based on the following breakdown:

Total Gross Profit: $1.34 million
Total Operating Expenses: $12.04 million

Over the last 4 years, Expion360's total revenue changed from $4.52 million in 2021 to $9.65 million in 2025, a change of 113.7%.

Expion360's total liabilities were at $1.54 million at the end of 2025, a 76.7% decrease from 2024, and a 64.0% decrease since 2021.

In the past 4 years, Expion360's cash and equivalents has ranged from $547.57 thousand in 2024 to $7.20 million in 2022, and is currently $2.97 million as of their latest financial filing in 2025.

Over the last 4 years, Expion360's book value per share changed from 0.78 in 2021 to 0.68 in 2025, a change of -13.4%.

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Financial statements for NASDAQ:XPON last updated on 7/21/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Expion360 (XPON) Financials

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Expion360 (XPON) Financials

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