XPON on Nasdaq

Expion Energy, Inc.

Volt GC2 LiFePO4 battery was the first model to incorporate e360 SmartTalk for electric golf carts and other light electric vehicle applications.³ From its latest annual report

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Last updated Oct 19, 2026.

Overview

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TickerXPON on Nasdaq¹
IndustryMiscellaneous Electrical Machinery, Equipment & Supplies¹
HeadquartersRedmond, Oregon¹
Incorporated inNV²
Business address2025 Sw Deerhound Ave, Redmond, Or 97756²
Filer category, Emerging growth company²
Legal formCorporation

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Volt GC2 LiFePO4 battery was the first model to incorporate e360 SmartTalk for electric golf carts and other light electric vehicle applications.³ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

13.9%Gross margin⁴

-110.9%Operating margin⁴

-64.6%Net margin⁴

71.6%Revenue growth, 2025⁴

-95.4%Return on equity⁴

0.03×Debt to equity⁴

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueSelling, general and admin

Cost of revenue40¢$8.3M
Research and development3¢$558.9K
Selling, general and admin58¢$12.0M
Income tax0¢$150

Out of $9.7M in revenue.⁴ The company lost money this year.

Financial statements

Revenue⁵⁶⁷⁴$9.7M in 2025+114% since 2021

Gross profit⁵⁶⁷⁴$1.3M in 2025−19% since 2021

Operating income⁵⁶⁷⁴-$10.7M in 2025+747% since 2021

Net income⁵⁶⁷⁴-$6.2M in 2025+32% since 2021

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Net sales	$9.7M	$5.6M
Cost of sales	$8.3M	$4.5M
Gross profit	$1.3M	$1.2M
Selling, general and administrative	$12.0M	$7.9M
Loss from operations	-$10.7M	-$6.8M
Interest income	-$16.1K	-$86.1K
Interest expense	$20.2K	$976.6K
Loss on sale of property and equipment	$13.4K	$146.8K
Settlement expense		$709.9K
Suspended liability expense / (income)	-$4.5M	$5.0M
Other (income) / expense	$48	-$6.1K
Total other (income) / expense	-$4.5M	$6.7M
Loss before taxes	-$6.2M	-$13.5M
Tax (income) / expense	$150	-$1.5K
Net loss	-$6.2M	-$13.5M
Net loss per share basic	-$1.13	-$21.03
Net loss per share diluted	-$1.13	-$21.03
Weighted-average number of common shares outstanding basic	5.5M shares	641.0K shares
Weighted-average number of common shares outstanding diluted	5.5M shares	641.0K shares

Total assets⁵⁶⁷⁴$8.1M in 2025+24% since 2021

Total liabilities⁵⁶⁷⁴$1.5M in 2025−64% since 2021

Shareholders’ equity⁵⁶⁷⁴$6.5M in 2025

Cash⁵⁶⁷⁴$3.0M in 2025+921% since 2020

Long-term debt⁵⁶⁷⁴$166.2K in 2025−79% since 2021

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.⁴

Period ending	2025-12-31	2025-07-31	2025-01-31	2024-12-31	2023-12-31
Cash and cash equivalents	$3.0M			$547.6K
Accounts receivable, net	$719.0K			$613.0K
Inventory	$2.9M			$4.8M
Prepaid/in-transit inventory	$318.4K			$1.6M
Prepaid expenses and other current assets	$179.6K			$236.5K
Total current assets	$7.0M			$7.8M
Property and equipment	$807.1K			$914.1K
Accumulated depreciation	-$478.9K			-$430.2K
Property and equipment, net	$328.2K			$483.9K
Operating leases right-of-use asset	$666.2K			$754.8K
Deposits	$32.0K			$27.5K
Total other assets	$698.2K			$782.3K
Total assets	$8.1M			$9.1M
Accounts payable	$403.8K			$338.1K
Customer deposits	$3.0K			$48.5K
Accrued expenses and other current liabilities	$221.9K			$187.5K
Current portion of operating lease liability	$337.2K			$256.2K
Current portion of long-term debt	$31.1K			$31.8K
Suspended liability		$4.5M	$4.5M	$5.0M
Total current liabilities	$996.9K			$5.8M
Long-term debt, net of current portion and discount	$166.2K			$198.4K
Operating lease liability, net of current portion	$372.5K			$542.8K
Total liabilities	$1.5M			$6.6M
Common stock, par value $.001; 200,000,000 shares authorized; 9,781,739 and 2,096,082 issued and outstanding as of December 31, 2025 and 2024, respectively	$9.8K			$2.1K
Additional paid-in capital	$47.3M			$37.1M
Accumulated deficit	-$40.8M			-$34.6M
Total stockholders equity	$6.5M			$2.5M	$5.3M
Total liabilities and stockholders equity	$8.1M			$9.1M
Preferred stock, par value	$0.00			$0.00
Preferred stock, shares authorized	20.0M shares			20.0M shares
Preferred stock, shares issued	0 shares			0 shares
Preferred stock, shares outstanding	0 shares			0 shares
Common stock, par value	$0.00			$0.00
Common stock, shares authorized	200.0M shares			200.0M shares
Common stock, shares issued	9.8M shares			2.1M shares
Common stock, shares outstanding	9.8M shares			2.1M shares

Period ending	2025-12-31	2025-07-31	2025-01-31	2024-12-31	2023-12-31
Cash and cash equivalents	$3.0M			$547.6K
Accounts receivable, net	$719.0K			$613.0K
Inventory	$2.9M			$4.8M
Prepaid/in-transit inventory	$318.4K			$1.6M
Prepaid expenses and other current assets	$179.6K			$236.5K
Total current assets	$7.0M			$7.8M
Property and equipment	$807.1K			$914.1K
Accumulated depreciation	-$478.9K			-$430.2K
Property and equipment, net	$328.2K			$483.9K
Operating leases right-of-use asset	$666.2K			$754.8K
Deposits	$32.0K			$27.5K
Total other assets	$698.2K			$782.3K
Total assets	$8.1M			$9.1M
Accounts payable	$403.8K			$338.1K
Customer deposits	$3.0K			$48.5K
Accrued expenses and other current liabilities	$221.9K			$187.5K
Current portion of operating lease liability	$337.2K			$256.2K
Current portion of long-term debt	$31.1K			$31.8K
Suspended liability		$4.5M	$4.5M	$5.0M
Total current liabilities	$996.9K			$5.8M
Long-term debt, net of current portion and discount	$166.2K			$198.4K
Operating lease liability, net of current portion	$372.5K			$542.8K
Total liabilities	$1.5M			$6.6M
Common stock, par value $.001; 200,000,000 shares authorized; 9,781,739 and 2,096,082 issued and outstanding as of December 31, 2025 and 2024, respectively	$9.8K			$2.1K
Additional paid-in capital	$47.3M			$37.1M
Accumulated deficit	-$40.8M			-$34.6M
Total stockholders equity	$6.5M			$2.5M	$5.3M
Total liabilities and stockholders equity	$8.1M			$9.1M
Preferred stock, par value	$0.00			$0.00
Preferred stock, shares authorized	20.0M shares			20.0M shares
Preferred stock, shares issued	0 shares			0 shares
Preferred stock, shares outstanding	0 shares			0 shares
Common stock, par value	$0.00			$0.00
Common stock, shares authorized	200.0M shares			200.0M shares
Common stock, shares issued	9.8M shares			2.1M shares
Common stock, shares outstanding	9.8M shares			2.1M shares

Cash from operations⁵⁶⁷⁴-$6.1M in 2025+58% since 2021

Capital spending⁵⁶$20.2K in 2023−82% since 2021

Free cash flow⁵⁶⁷-$5.6M in 2023+38% since 2021

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31
Net loss	-$6.2M	-$13.5M
Depreciation	$116.6K	$174.0K
Amortization of convertible note costs		$667.1K
Loss on sale of property and equipment	$13.4K	$146.8K
Stock-based settlement		$209.0K
Stock-based compensation	$1.2M	$616.6K
Issuance of common stock in exchange for services	$489.5K
Non-cash expense in exchange for asset disposal	$21.4K
(Increase) / Decrease in inventory valuation	$903.7K
Decrease in right-of-use assets and lease liabilities		-$67.8K
Increase / (Decrease) in suspended liability	-$4.5M	$5.0M
Increase in accounts receivable	-$105.9K	-$458.1K
(Increase) / Decrease in inventory	$1.1M	-$1.0M
(Increase) / Decrease in prepaid/in-transit inventory	$1.3M	-$1.4M
(Increase) / Decrease in prepaid expenses and other current assets	$56.8K	-$47.0K
(Increase) / Decrease in deposits	-$4.5K	$31.4K
Increase in accounts payable	$65.7K	$51.1K
Increase / (Decrease) in customer deposits	-$45.5K	$31.1K
Increase in accrued expenses and other current liabilities	$34.4K	$21.8K
Increase / (Decrease) in right-of-use assets and lease liabilities	-$560	$9.8K
Decrease in suspended liability	-$500.0K
Net cash used in operating activities	-$6.1M	-$9.6M
Purchases of property and equipment		-$19.2K
Net proceeds from sale of property and equipment	$4.2K	$132.6K
Net cash provided by investing activities	$4.2K	$113.4K
Principal payments on convertible note		-$2.8M
Principal payments on long-term debt	-$32.9K	-$119.1K
Principal payments on stockholder promissory notes		-$762.5K
Net proceeds from exercise of warrants	$5.7M	$185.4K
Net proceeds from issuance of common stock	$2.9M	$9.5M
Net cash provided by financing activities	$8.6M	$6.1M
Net change in cash and cash equivalents	$2.4M	-$3.4M
Cash paid for interest	$20.9K	$220.7K
Cash paid / (received) for franchise taxes	$150	-$258
Acquisition/modification of operating lease right-of-use asset and lease liability	$198.2K
Issuance of common stock for payment on accrued interest		$90.8K
Issuance of common stock for payment on accrued compensation		$36.0K

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Leadership

Who has led Expion Energy, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Paul Thomas Shoun2025–now

Chief financial officer

Chief operating officer

2025

Chief executive officerKevin Sellers Aug 31, 2026 to now¹⁰
Chief executive officerJoseph D. Hammer Nov 18, 2025 to Aug 31, 2026¹¹
Chief executive officerBrian Paul Schaffner Jan 17, 2024 to Nov 18, 2025¹²
Chief executive officerJohn Henry Yozamp Apr 11, 2022 to Dec 28, 2022¹³
PresidentPaul Thomas Shoun Apr 10, 2025 to now¹⁴
Chief financial officerRobert L. Winspear Aug 31, 2026 to now¹⁵
Chief financial officerShawna Lee Bowin Oct 21, 2025 to Aug 31, 2026¹⁶
Chief financial officerGregory Scott Aydelott Aug 28, 2023 to Jan 17, 2024¹⁷
Chief financial officerBrian Paul Schaffner Apr 5, 2022 to Aug 28, 2023¹⁸
Chief operating officerCarson E. Heagen Apr 10, 2025 to now¹⁹
Chief operating officerBrian Paul Schaffner Aug 28, 2023 to Aug 28, 2023²⁰
Chief operating officerPaul Thomas Shoun Apr 6, 2022 to Jan 17, 2024²¹

Board members and other officers (14)

VP, FinanceShawna Lee Bowin Aug 25, 2026 to now²²
Business Development OfficerJohn Henry Yozamp Aug 28, 2023 to Dec 19, 2023²³
Chief Accounting OfficerGregory Scott Aydelott May 20, 2022 to Dec 28, 2022²⁴
Board memberKevin Sellers Aug 31, 2026 to now¹⁰
Board memberMarcus Wesley Jarvis Sep 9, 2026 to now²⁵
Board memberScott R. Burell Oct 21, 2025 to now²⁶
Board memberJoseph D. Hammer Nov 18, 2025 to now¹¹
Board memberBrian Paul Schaffner Aug 28, 2023 to now²⁰
Board memberTien Quoc Nguyen Aug 28, 2023 to now²⁷
Board memberPaul Thomas Shoun Apr 6, 2022 to now²¹
Board memberDavid Leigh Hendrickson Apr 8, 2022 to Dec 28, 2022²⁸
Board memberJohn Henry Yozamp Apr 11, 2022 to Dec 28, 2022¹³
Board memberGeorge Lefevre Apr 12, 2022 to now²⁹
Board memberSteve Shum Apr 12, 2022 to now³⁰

Former names

Expion Energy Inc.Aug 24, 2026 to Aug 24, 2026²
Expion360 Inc.Nov 29, 2021 to Aug 24, 2026²

Timeline

Aug 31, 2026New chief executive Kevin Sellers becomes CEO¹⁰
Nov 18, 2025New chief executive Joseph D. Hammer becomes CEO¹¹
Jan 17, 2024New chief executive Brian Paul Schaffner becomes CEO¹²
Apr 11, 2022New chief executive John Henry Yozamp becomes CEO¹³

Filings

242 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 65 major events, 67 insider forms, 15 large holders, 3 private raises, 71 other. The latest 20:

Sep 18, 2026DEFA14A EDGAR
Sep 18, 2026DEFA14A EDGAR
Sep 18, 2026DEF 14A EDGAR
Sep 9, 20263 EDGAR
Sep 8, 2026D EDGAR
Sep 8, 2026PRE 14A EDGAR
Aug 31, 2026144 EDGAR
Aug 31, 20264 EDGAR
Aug 31, 20264 EDGAR
Aug 31, 20263 EDGAR
Aug 31, 20263 EDGAR
Aug 31, 20268-K EDGAR
Aug 28, 2026SCHEDULE 13D EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR
Aug 25, 20264 EDGAR

The 242 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

6 open-market trades by officers, directors and large owners since October 2021: 0 buys and 6 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Jun 5, 2024	Yozamp John Henry10% owner	Sale	29,727	$1.57	$46.7K	Form 4
Jun 4, 2024	Yozamp John Henry10% owner	Sale	5,273	$1.67	$8.8K	Form 4
Jan 16, 2024	Yozamp John Henry10% owner	Sale	23,035	$4.72	$108.7K	Form 4
Dec 18, 2023	Yozamp John Henry10% owner	Sale	23,035	$4.60	$106.0K	Form 4
Nov 16, 2023	Yozamp John Henry10% owner	Sale	23,035	$3.92	$90.3K	Form 4
Nov 16, 2023	Yozamp John Henry10% owner	Sale	23,035	$3.92	$90.3K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Five Narrow Lane LPSCHEDULE 13D, 2 filings Aug 24, 2026 to Aug 28, 2026³¹
L1 Capital Global Opportunities Master Fund, Ltd.SCHEDULE 13G/A, 3 filings Aug 15, 2024 to Feb 17, 2026³²
Altium Capital Management LLCSCHEDULE 13G/A, 2 filings Aug 16, 2024 to Nov 4, 2025³³
S.H.N. Financial Investments Ltd.SCHEDULE 13G/A, 2 filings Aug 15, 2024 to Mar 18, 2025³⁴
3i, LPSCHEDULE 13G/A, 3 filings Feb 5, 2024 to Feb 13, 2025³⁵
Masaya OtsukaSC 13G/A, 2 filings Sep 23, 2024 to Sep 27, 2024³⁶
John Henry YozampSC 13G, 1 filing Feb 8, 2024³⁷

Money raised

Private offerings the company reported to the SEC on Form D.

Aug 21, 2026Raised $9 million in a private offering of debt Form D: $100 million offered in all Form D
Jan 2, 2025Raised $2.5 million in a private offering of securities Form D: 2 investors so far Form D
Oct 27, 2021Raised $250,000 in a private offering of equity Form D: 4 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Copia Wealth Management	5	$2	0.0%	New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARExpion Energy, Inc. filings on SEC EDGAR
2
SEC EDGARExpion Energy, Inc. filings on SEC EDGAR
3
SEC EDGARExpion Energy, Inc. annual report, Item 1 (Business)
4
SEC EDGARExpion Energy, Inc. 10-K for fiscal 2025
5
SEC EDGARExpion Energy, Inc. 10-K for fiscal 2021
6
SEC EDGARExpion Energy, Inc. 10-K for fiscal 2022
7
SEC EDGARExpion Energy, Inc. 10-K for fiscal 2023
8
SEC EDGARExpion Energy, Inc. 10-Q for fiscal 2026
9
SEC EDGARExpion Energy, Inc. 10-Q for fiscal 2026
10
SEC EDGARKevin Sellers, Chief executive officer
11
SEC EDGARJoseph D. Hammer, Chief executive officer
12
SEC EDGARBrian Paul Schaffner, Chief executive officer
13
SEC EDGARJohn Henry Yozamp, Chief executive officer
14
SEC EDGARPaul Thomas Shoun, President
15
SEC EDGARRobert L. Winspear, Chief financial officer
16
SEC EDGARShawna Lee Bowin, Chief financial officer
17
SEC EDGARGregory Scott Aydelott, Chief financial officer
18
SEC EDGARBrian Paul Schaffner, Chief financial officer
19
SEC EDGARCarson E. Heagen, Chief operating officer
20
SEC EDGARBrian Paul Schaffner, Chief operating officer
21
SEC EDGARPaul Thomas Shoun, Chief operating officer
22
SEC EDGARShawna Lee Bowin, VP, Finance
23
SEC EDGARJohn Henry Yozamp, Business Development Officer
24
SEC EDGARGregory Scott Aydelott, Chief Accounting Officer
25
SEC EDGARMarcus Wesley Jarvis, Board member
26
SEC EDGARScott R. Burell, Board member
27
SEC EDGARTien Quoc Nguyen, Board member
28
SEC EDGARDavid Leigh Hendrickson, Board member
29
SEC EDGARGeorge Lefevre, Board member
30
SEC EDGARSteve Shum, Board member
31
SEC EDGARFive Narrow Lane LP SCHEDULE 13D on Expion Energy, Inc.
32
SEC EDGARL1 Capital Global Opportunities Master Fund, Ltd. SCHEDULE 13G/A on Expion Energy, Inc.
33
SEC EDGARAltium Capital Management LLC SCHEDULE 13G/A on Expion Energy, Inc.
34
SEC EDGARS.H.N. Financial Investments Ltd. SCHEDULE 13G/A on Expion Energy, Inc.
35
SEC EDGAR3i, LP SCHEDULE 13G/A on Expion Energy, Inc.
36
SEC EDGARMasaya Otsuka SC 13G/A on Expion Energy, Inc.
37
SEC EDGARJohn Henry Yozamp SC 13G on Expion Energy, Inc.