10-Q · May 15, 2026
Expion360 (XPON) reported a significant 24% decline in revenue year-over-year, totaling $1.57 million in Q1 2026, while posting a net loss of approximately $1.77 million. The company's gross profit decreased to $0.40…
Earnings analysis · 10-Q
XPON earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Expion360 delivered mixed Q2 results: revenue of $2.03 million recovered modestly sequentially but declined 32% year over year, while gross margin improved to 32.4% from 20.8% and diluted EPS improved to $(1.34) from…
Read full summary
Expion360 delivered mixed Q2 results: revenue of $2.03 million recovered modestly sequentially but declined 32% year over year, while gross margin improved to 32.4% from 20.8% and diluted EPS improved to $(1.34) from $(4.92). The filing provides no numeric financial guidance, although management continues to target a next-generation lithium battery launch in the second half of 2026. Nasdaq compliance was restored as of August 4, 2026, but ongoing revenue contraction and the company’s prior liquidity and listing risks remain important concerns.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.34
- Gross margin
- 32.4%
What stood out
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Revenue recovered sequentially
Q2 revenue was $2.03 million, up modestly from approximately $2 million in Q1 2026 but down 32% from $3 million in Q2 2025.
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Gross margin expanded materially
Gross margin expanded to 32.4% from 20.8% a year earlier, a 11.6-percentage-point improvement.
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Per-share loss improved
Diluted EPS improved to $(1.34) from $(4.92) in Q2 2025 and $(2.04) in Q1 2026.
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Nasdaq compliance restored
The company regained compliance with Nasdaq’s Minimum Bid Price Requirement as of August 4, 2026, after completing a reverse stock split on July 21, 2026.
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Disclosure controls remained effective
Management reported that disclosure controls were effective at a reasonable assurance level as of June 30, 2026, with no material changes in internal control during the quarter.
What to watch
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Persistent revenue contraction
Revenue was $2.03 million in Q2 2026, down 32% from $3 million in Q2 2025, indicating continued top-line contraction despite sequential recovery.
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Nasdaq listing risk
The company previously faced a Nasdaq delisting determination with a compliance period expiring July 28, 2026; although compliance was regained on August 4, 2026, continued listing remains an execution risk.
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Prior-period risks remain applicable
The filing states that management is not aware of material changes to the risk factors in the Annual Report or Q1 2026 Quarterly Report, but those prior risks remain applicable to the company’s liquidity, results and prospects as of June 30, 2026.
Management's outlook
No numeric revenue or EPS guidance was provided. Management remains on track to launch its first next-generation lithium battery in the second half of 2026.
Earlier filings 4
10-K · April 30, 2026
Expion360 (XPON) continues to experience operational challenges despite top-line growth driven by new products and distribution relationships. The company acknowledges substantial doubt about its ability to continue as…
10-K · March 17, 2026
Expion360 (XPON) reports material top-line growth alongside continuing operational strain. The filing notes product and distribution progress (new models, partnerships, national retailers) but reiterates a substantial…
10-Q · November 13, 2025
Expion360 reported Q3 net sales of $2,393,192 (up from $1,389,495 in Q3 2024) and delivered GAAP net income of $722,792 (diluted EPS $0.10) for the quarter. Gross profit improved to $542,483 and cash rose to $4,293,797…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.