The following is a summary of the Expion360 Inc. (XPON) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Expion360 reported a Q1 2024 revenue of $1 million, a 35.5% decrease compared to the same period in the previous year.

• Gross profit was 22.9% of revenue, down from the previous year's 29.4%.

• Selling, general, and administrative expenses rose to $2.2 million, an increase from the prior year's $2.1 million.

• The company incurred a net loss for Q1 2024, totalling $2.2 million or $0.31 per share, up from a net loss of $2 million or $0.29 per share from the previous year.

Business Progress:

• Expion360 launched its new Group 27 and GC2 Series batteries, which have prompted substantial pre-orders.

• A new 'Edge' battery for off-grid power solutions was introduced, with shipping slated for Q3 2024.

• The company released details and began pre-orders for its forthcoming Home Energy Storage Solutions, set to ship in the latter half of 2024.

• Expion360 secured a contract to sell its products via the Tractor Supply website starting in June.

• The company sustains its R&D investment with 11 patents currently pending.

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