Expion360 Inc. Q4 FY2023 earnings call

• Expion360 focuses on lithium iron phosphate batteries for RV, marine, LEV, and home energy applications. - Milestones include UL certifications for batteries, launch of e360 SmartTalk app, entry into home energy storage, and $22.5 million financing commitments. - Technology advantages: compact design, fast charging, high energy density, long lifespan (12+ years), IP66-rated enclosure, and Bluetooth/CAN Bus communication. - Plans to expand into industrial applications and continue developing IP strategies.

For the fourth quarter ended December 31, 2023, revenue totaled $900,000, down 40% from $1.4 million in the prior year period. Gross profit was $205,000 (23.9% of revenue) compared to $317,000 (22.3% of revenue) in the prior year period. For the year ended December 31, 2023, revenue totaled $6 million, decreasing 16.5% from $7.2 million in the prior year. Gross profit for 2023 was $1.6 million (26.3% of revenue) compared to $2.3 million (31.9% of revenue) in the prior year. The decrease in gross profit percentage was due to lower sales volume in the RV market.

• Anticipates beginning to take orders for e360 Home Energy Storage System in Q2 2024 with shipments in H2 2024. - Confident in growth trajectory for 2024, noting RV market recovery potential and focus on custom solutions in home energy and other segments.

• Forward-looking statements subject to risks and uncertainties, as detailed in SEC filings. - Potential differences between actual results and forward-looking statements due to various factors outlined in the company's risk disclosures.

Q: What's the outlook for the RV industry bounce back?

A: Seeing an uptick in interest, and as a premium product, not seeing a shift away from premium RVs.

Q: Distribution strategy for home energy product?

A: Look forward to developments throughout 2024.

Q: Conversations with LEV manufacturers?

A: Focus on cart converters, custom cart builders, electric forklifts, and other electrified material moving systems beyond top 3 cart manufacturers.

Q: Strategy for home energy storage OEMs?

A: Anticipate taking orders in Q2 with deliveries in H2, material announcements to investors.

Q: New products development?

A: Will disclose new or developing products when appropriate.

Q: When will data sheets for home energy storage be released?

A: Starting to release in April.

Q: Partnerships for LEV market?

A: Focus on cart conversions, custom cart builders, electric forklifts, etc.

Q: Need for more capital?

A: Will continue to explore capital needs and employ strategies as appropriate.

Q: Industry verticals for GC2 battery?

A: Designed for LEVs, RVs, and off grid applications.

Q: Lithium supply chain impact?

A: Current outlook positive, experienced cost reductions, monitor worldwide supply.