Expion360 Inc. (XPON) is a Industrials stock trading at $3.54 (as of 2026-08-20), with a market capitalization of $40.49M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Understand Expion360 Inc.: how it makes money
Expion360 Inc. sells electrical equipment, and makes money from product sales.
The company shows gross margin 25%, but operating margin is -113%, so operating expenses overwhelm gross profit.
Business quality (Unprofitable): Unprofitable (operating margin -113%)
Bull case
Gross margin supports unit economics: The company reports gross margin 25%, which indicates it can generate gross profit on sales. If it can control operating costs, the gross-profit base could help it move closer to profitability.
Bear case
Operating costs drive heavy losses: Operating margin is -113%, which means losses at the operating level are far larger than gross profit. This makes the business model structurally hard to sustain without major cost or profitability improvements.
Valuation — source: SEC EDGAR (first-party)
Price
$3.54
Market Cap
$40.49M
Price / Book
6.69
Price / Sales
4.50
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)
$9.65M
Net Margin
-64.6%
Revenue Growth (YoY)
71.6%
EPS Growth (YoY)
-94.6%
Financial Health — source: SEC EDGAR
Altman Z-Score
6.46 (safe)
Piotroski F-Score
5/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Industrials)
25.9
Industry P/E (Electrical Equipment)
37.8
Company
Sector
Industrials
Industry
Electrical Equipment
Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)