Expion360 Inc. (NASDAQ: XPON), a specialist in lithium-ion battery energy storage solutions, announced preliminary fourth-quarter results on Thursday, surpassing the previous year's performance. The company's stock surged over 50% in pre-market trading.
For the fourth quarter, Expion360 anticipates a narrowed loss of between $450,000 and $350,000, compared to a $2.2 million loss recorded during the same period last year.
Estimated revenue for the fourth quarter is projected to be between $1.8 million and $2.0 million, showing an increase from the $0.9 million reported a year earlier.
"We are making considerable strides towards our objectives, evidenced by the continuous growth of our OEM partnerships and distribution network. This expansion enables us to fulfill the rising demand for premium lithium battery technology among our longstanding and newly acquired clients, such as Scout Campers, Alaskan Campers, and K-Z Recreational Vehicles," stated Brian Schaffner, CEO of Expion360.
On Tuesday, Expion360's stock closed at $2.39, reflecting a 14% decline. Over the past year, the stock has fluctuated between $1.76 and $35.50.
