Expion360 Inc. (XPON) Balance Sheet
XPON balance sheet, 2025
December 31, 2025 · U.S. dollars$8.1M assets = $1.5M liabilities + $6.5M equity
Both columns are drawn to the same scale: what XPON owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XPON financial health
Descriptive bands, not a rating. Fiscal 2025.
XPON balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $838,8842019 | $8.1M2025 | +45.8%/yr | |
| Total liabilities | $1.3M2019 | $1.5M2025 | +2.3%/yr | |
| Shareholders’ equity | −$503,1822019 | $6.5M2025 | — | |
| Cash & short-term investments | $139,5102019 | $3.0M2025 | +66.5%/yr | |
| Total debt | $1.2M2019 | $906,9692025 | −4.8%/yr | |
| Net cash (debt) | −$1.1M2019 | $2.1M2025 | +$3.1M | |
| Working capital | $513,5592019 | $6.0M2025 | +$5.5M | |
| Current ratio | 3.522019 | 7.072025 | +3.55 | |
| Debt / equity | 1.602021 | 0.142025 | −1.46 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XPON assets
XPON liabilities and equity
XPON debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XPON balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $3.0M | $547,565 | $3.9M | $7.2M | $773,238 | $290,675 | $139,510 |
| Cash & equivalents | $3.0M | $547,565 | $3.9M | $7.2M | $773,238 | $290,675 | $139,510 |
| Receivables | $718,964 | $613,022 | $154,935 | $298,035 | $775,160 | $208,725 | $32,125 |
| Inventory | $2.9M | $4.8M | $4.0M | $4.5M | $2.1M | $368,278 | $362,788 |
| Other current assets | $498,085 | $1.8M | $189,418 | $313,402 | $1.2M | $357,342 | $183,290 |
| Total current assets | $7.0M | $7.8M | $8.3M | $12.3M | $4.8M | $1.2M | $717,713 |
| Property, plant & equipment (net) | $1.5M | $1.2M | $3.6M | $4.3M | $1.7M | $371,259 | $118,060 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $27,471 | $58,896 | $63,901 | $63,901 | $8,117 | $3,111 |
| Total assets | $8.1M | $9.1M | $11.9M | $16.7M | $6.5M | $1.6M | $838,884 |
| Liabilities | |||||||
| Accounts payable | $403,792 | $338,091 | $286,985 | $230,250 | $63,180 | $52,003 | $86,406 |
| Short-term debt | $368,304 | $287,911 | $3.4M | $1.0M | $919,923 | $915,542 | $83,998 |
| Deferred revenue | $20,732 | $4,549 | $4,445 | $58 | $461,840 | $120,844 | — |
| Total current liabilities | $996,937 | $5.8M | $4.0M | $1.6M | $1.6M | $1.2M | $204,154 |
| Long-term debt | $166,187 | $198,412 | $298,442 | $764,049 | $1.6M | $1.6M | $1.1M |
| Lease obligations | $709,724 | $798,917 | $2.8M | $3.2M | $1.3M | $221,248 | $94,336 |
| Other long-term liabilities | $372,478 | $542,764 | $2.2M | $2.8M | $1.1M | $153,146 | $62,912 |
| Total liabilities | $1.5M | $6.6M | $6.6M | $5.1M | $4.3M | $3.0M | $1.3M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $9,782 | $2,096 | $6,923 | $6,802 | $4,300 | $2,431 | — |
| Retained earnings (deficit) | −$40.8M | −$34.6M | −$21.1M | −$13.6M | −$6.1M | −$1.4M | −$503,182 |
| Accumulated other comprehensive income | — | — | — | $0 | $0 | — | — |
| Total shareholders' equity | $6.5M | $2.5M | $5.3M | $11.6M | $2.3M | −$1.4M | −$503,182 |
| Key figures | |||||||
| Total debt | $906,969 | $1.0M | $6.0M | $4.6M | $3.6M | $2.7M | $1.2M |
| Net cash (debt) | $2.1M | −$481,522 | −$2.0M | $2.6M | −$2.8M | −$2.4M | −$1.1M |
| Working capital | $6.0M | $2.0M | $4.3M | $10.8M | $3.2M | −$9,265 | $513,559 |
| Tangible book value | $6.5M | $2.5M | $5.3M | $11.6M | $2.3M | −$1.4M | −$503,182 |
| Book value per share | $14.23 | — | — | — | — | — | — |
| Shares outstanding | 459K | — | — | — | — | — | — |
| Current ratio | 7.07 | 1.34 | 2.06 | 7.85 | 3.02 | 0.99 | 3.52 |
| Quick ratio | 3.70 | 0.20 | 1.02 | 4.77 | 0.99 | 0.40 | 0.84 |
| Debt / equity | 0.14 | 0.41 | 1.11 | 0.39 | 1.60 | — | — |
| Equity / assets | 81.0% | 27.7% | 44.9% | 69.5% | 34.6% | −86.0% | −60.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.5M | $3.1M | $3.0M | $4.3M | $684,920 | $1.1M | $547,565 | $3.3M | $902,323 | $2.3M | $3.9M | $2.9M |
| Cash & equivalents | $1.5M | $3.1M | $3.0M | $4.3M | $684,920 | $1.1M | $547,565 | $3.3M | $902,323 | $2.3M | $3.9M | $2.9M |
| Receivables | $638,281 | $616,448 | $718,964 | $567,991 | $715,724 | $592,625 | $613,022 | $438,572 | $353,006 | $238,921 | $154,935 | $473,284 |
| Inventory | $2.0M | $2.4M | $2.9M | $3.6M | $5.1M | $6.0M | $4.8M | $3.4M | $3.4M | $3.9M | $4.0M | $4.2M |
| Other current assets | $1.1M | $500,715 | $498,085 | $1.1M | $836,355 | $357,914 | $1.8M | $1.6M | $935,946 | $233,171 | $189,418 | $320,196 |
| Total current assets | $5.3M | $6.6M | $7.0M | $9.6M | $7.4M | $8.1M | $7.8M | $8.8M | $5.6M | $6.6M | $8.3M | $7.9M |
| Property, plant & equipment (net) | $1.3M | $1.4M | $994,421 | $1.1M | $1.2M | $1.1M | $1.2M | $1.3M | $3.1M | $3.3M | $3.6M | $3.8M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $32,016 | $32,015 | $32,016 | $25,471 | $27,471 | $27,471 | $58,896 | $58,896 | $58,896 | $58,896 |
| Total assets | $6.1M | $7.5M | $8.1M | $10.7M | $8.6M | $9.2M | $9.1M | $10.1M | $8.8M | $10.0M | $11.9M | $11.7M |
| Liabilities | ||||||||||||
| Accounts payable | $349,095 | $419,599 | $403,792 | $522,794 | $675,351 | $367,457 | $338,091 | $334,632 | $432,550 | $282,420 | $286,985 | $437,236 |
| Short-term debt | $340,926 | $363,982 | $368,304 | $358,236 | $349,107 | $286,951 | $287,911 | $292,201 | $3.3M | $3.5M | $3.4M | $1.2M |
| Deferred revenue | $59,216 | $12,300 | $20,732 | $6,516 | $48,693 | $41,920 | $4,549 | $4,549 | $18,643 | $4,549 | $4,445 | $50,693 |
| Total current liabilities | $958,864 | $1.0M | $996,937 | $1.0M | $5.8M | $5.4M | $5.8M | $6.8M | $4.0M | $4.0M | $4.0M | $2.0M |
| Long-term debt | $142,784 | $158,106 | $166,187 | $175,022 | $182,842 | $190,564 | $198,412 | $207,752 | $215,731 | $223,954 | $298,442 | $511,431 |
| Lease obligations | $545,535 | $628,913 | $709,724 | $787,625 | $863,870 | $731,791 | $798,917 | $6.8M | $2.5M | $2.6M | $2.8M | $2.9M |
| Other long-term liabilities | $218,008 | $296,503 | $372,478 | $459,942 | $545,535 | $476,115 | $542,764 | $606,969 | $2.0M | $2.1M | $2.2M | $2.4M |
| Total liabilities | $1.3M | $1.5M | $1.5M | $1.7M | $6.5M | $6.0M | $6.6M | $7.6M | $6.2M | $6.3M | $6.6M | $4.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $953 | $11,438 | $9,782 | $8,644 | $3,374 | $3,144 | $2,096 | $919 | $7,560 | $7,047 | $6,923 | $6,911 |
| Retained earnings (deficit) | −$43.9M | −$42.6M | −$40.8M | −$36.4M | −$37.1M | −$35.7M | −$34.6M | −$34.3M | −$25.5M | −$23.3M | −$21.1M | −$18.9M |
| Total shareholders' equity | $4.8M | $6.0M | $6.5M | $9.0M | $2.1M | $3.2M | $2.5M | $2.5M | $2.5M | $3.7M | $5.3M | $6.8M |
| Key figures | ||||||||||||
| Total debt | $701,718 | $818,591 | $906,969 | $993,200 | $1.1M | $953,630 | $1.0M | $1.1M | $5.5M | $5.8M | $6.0M | $4.1M |
| Net cash (debt) | $838,630 | $2.2M | $2.1M | $3.3M | −$392,564 | $138,977 | −$481,522 | $2.2M | −$4.6M | −$3.5M | −$2.0M | −$1.2M |
| Working capital | $4.4M | $5.6M | $6.0M | $8.5M | $1.6M | $2.7M | $2.0M | $2.0M | $1.5M | $2.6M | $4.3M | $5.9M |
| Tangible book value | $4.8M | $6.0M | $6.5M | $9.0M | $2.1M | $3.2M | $2.5M | $2.5M | $2.5M | $3.7M | $5.3M | $6.8M |
| Book value per share | $5.05 | $6.94 | $8.02 | $14.29 | $7.44 | $12.34 | — | — | — | — | — | — |
| Shares outstanding | 953K | 872K | 815K | 631K | 278K | 259K | — | — | — | — | — | — |
| Current ratio | 5.55 | 6.44 | 7.07 | 9.18 | 1.27 | 1.50 | 1.34 | 1.30 | 1.37 | 1.65 | 2.06 | 4.00 |
| Quick ratio | 2.27 | 3.58 | 3.70 | 4.67 | 0.24 | 0.31 | 0.20 | 0.56 | 0.31 | 0.62 | 1.02 | 1.72 |
| Debt / equity | 0.15 | 0.14 | 0.14 | 0.11 | 0.52 | 0.30 | 0.41 | 0.43 | 2.18 | 1.58 | 1.11 | 0.60 |
| Equity / assets | 78.5% | 80.3% | 81.0% | 84.3% | 24.0% | 34.6% | 27.7% | 25.1% | 28.8% | 36.7% | 44.9% | 58.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 17, 2026); data from EODHD.
XPON financial position
At the end of fiscal 2025 (December 31, 2025), Expion360 had total assets of $8.1 million (down 11.4% from a year earlier), total liabilities of $1.5 million and shareholders' equity of $6.5 million. It held $3.0 million in cash and short-term investments against $0.9 million of debt, a net cash position of $2.1 million. Its current ratio was 7.07. In the latest quarter (ended June 30, 2026) total assets were $6.1 million and equity $4.8 million.
Related: XPON income statement, XPON cash flow statement, XPON key metrics. See the XPON stock overview for the latest quote and news.
XPON balance sheet FAQ
What are Expion360's total assets?
Expion360 reported total assets of $8.1 million at the end of fiscal 2025 (December 31, 2025), compared with $9.1 million a year earlier.
How much debt does Expion360 have?
Expion360 had $0.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.14.
How much cash does Expion360 have?
Expion360 held $3.0 million in cash and short-term investments at the end of fiscal 2025; with $0.9 million of debt that is net cash of $2.1 million.
What is Expion360's book value?
Expion360's shareholders' equity (book value) was $6.5 million at the end of fiscal 2025, or $14.23 per share.
What is Expion360's current ratio?
Expion360 had current assets of $7.0 million and current liabilities of $1.0 million, a current ratio of 7.07 (it can cover its short-term obligations).