Expion360 Sees Lower Loss, Higher Revenue In Q4; Stock Up In Pre-market

(RTTNews) - Expion360 Inc. (XPON), a provider of lithium-ion battery power storage solutions, Thursday provided preliminary results for the fourth quarter, better than the previous year. The company's shares were more than 50 percent up in pre-market.

Expion360 expects a loss of $450,000 to $350,000 for the fourth quarter, lower than $2.2 million reported in the same quarter a year ago.

Preliminary revenue for the fourth quarter was $1.8 million to $2.0 million, up from $0.9 million a year ago.

"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 from existing and recent new customers including Scout Campers, Alaskan Campers, and K-Z Recreational Vehicles," said Brian Schaffner, Chief Executive Officer of Expion360.

Expion360 stock had closed at $2.39, down 14 percent on Tuesday. It has traded in the range of $1.76 - 535.50 in the last 1 year.