Expion360, a lithium-ion battery supplier, has reported strong sequential growth in its fourth-quarter financial results. The result highlighted the RV industry showed signs of recovery after a challenging year.
Despite a slowdown in the broader RV market, Expion360’s revenue for Q4 2024 reached $2.0 million, marking a 131% increase year-over-year and a 43% jump from the previous quarter.
The RV sector, impacted by high interest rates and market uncertainties in 2024, faced lower OEM sales in the first half of the year. However, Expion360 said it has seen growing demand for its high-performance lithium batteries, particularly in premium camper models.
The company announced a new partnership with Scout Campers, which will now offer Expion360’s lithium batteries as a standard option, enhancing the energy efficiency and reliability of its campers.
Expion360 added several new OEMs and one new distributor to expand its customer base across the U.S. The company said the new addition of Alaskan Campers and K-Z RV could help boost sales in 2025.
Expion360 CEO and Interim Chief Financial Officer Brian Schaffner said, “We believe the RV market will continue to gain ground through 2025, with shipments remaining steady in the short term and increasing traction heading into next year.”
In addition to its RV-focused growth, Expion360 also broadened its product portfolio with Home Energy Storage Solutions (HESS), which began shipping in early 2025. The company said it is exploring a potential collaboration with NeoVolta aimed at manufacturing lithium-ion battery cells in the U.S.
“The anticipated revenue growth is expected to increase gross profits by an estimated $1.4 million for fiscal year 2025,” Schaffner said. “We are also highly focused on further development of HESS and the introduction of new technologies and batteries.”
Expion360 said it remains hopeful for 2025 with the added partnerships and revenue growth.
“We look forward to announcements of additional wins and milestones in the months ahead,” Schaffner said.
