Expion360 Q3 revenue up 8.7% sequentially to $1.4M; net loss widens to $8.8M

Expion360 Inc.

2024-Q3 EPS reported -$78.63 vs consensus -$20.40 ▼ miss (-285.4%)

Q3 net loss totaled $8.8M vs $1.8M a year ago, driven by lower sales, change in fair value of warrants, and settlement expense.
Q3 revenue of $1.4M down 26.5% YoY; gross margin fell to 12.1% from 25.0%.
Closed $10M public offering in August; net proceeds used to repay convertible note and fund home energy storage development.
Added three OEM customers: Scout Campers, Alaskan Camper, and K-Z RV (Thor subsidiary) for standard battery installations.
President/COO/Chairman Paul Shoun taking temporary COO leave through Feb 2025; VP Carson Heagen assumes COO duties.

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