Expion360 reported increased sales in its preliminary, unaudited 2024 fourth-quarter results.
CEO Brian Schaffner said, “We believe we are making significant progress against our goals with the ongoing expansion of our OEM relationships and distribution network to meet the increasing demand for high-quality lithium battery technology.”
The battery supplier’s preliminary, unaudited revenue for the quarter is expected to be around $1.8 million to $2 million. The figures increased from $1.4 million in the 2023 fourth quarter.
Expion360’s preliminary gross profit is expected to range between $350,000 and $450,000. The 2024 figure compares with the company’s $205,000 gross profit in the same 2023 period.
The preliminary results estimate a $350,000 to $450,000 net loss for the fourth quarter of 2024 compared with a $2.2 million net loss in the fourth quarter of 2023.
