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Side-by-side financial comparison of Solid Power, Inc. (SLDP) and Expion360 Inc. (XPON). Click either name above to swap in a different company.
Solid Power, Inc. is the larger business by last-quarter revenue ($3.6M vs $2.2M, roughly 1.6× Expion360 Inc.). On growth, Expion360 Inc. posted the faster year-over-year revenue change (11.8% vs -18.6%). Over the past eight quarters, Expion360 Inc.'s revenue compounded faster (51.1% CAGR vs -21.9%).
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
Expion360 Inc. is a provider of high-performance lithium iron phosphate (LFP) battery solutions and supporting energy storage products. Its core customer segments cover recreational vehicle owners, marine users, off-grid lifestyle enthusiasts and residential users across the U.S. market, delivering safe, durable and low-carbon energy storage options.
SLDP vs XPON — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6M | $2.2M |
| Net Profit | — | $-4.4M |
| Gross Margin | — | -14.8% |
| Operating Margin | -730.1% | -234.4% |
| Net Margin | — | -199.9% |
| Revenue YoY | -18.6% | 11.8% |
| Net Profit YoY | — | -1663.2% |
| EPS (diluted) | $-0.15 | $-0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.6M | $2.2M | ||
| Q3 25 | $3.7M | $2.4M | ||
| Q2 25 | $6.5M | $3.0M | ||
| Q1 25 | $6.0M | $2.0M | ||
| Q4 24 | $4.5M | $2.0M | ||
| Q3 24 | $4.7M | $1.4M | ||
| Q2 24 | $5.1M | $1.3M | ||
| Q1 24 | $6.0M | $971.9K |
| Q4 25 | — | $-4.4M | ||
| Q3 25 | $-25.9M | $722.8K | ||
| Q2 25 | $-25.3M | $-1.4M | ||
| Q1 25 | $-15.2M | $-1.2M | ||
| Q4 24 | — | $-251.6K | ||
| Q3 24 | $-22.4M | $-8.8M | ||
| Q2 24 | $-22.3M | $-2.2M | ||
| Q1 24 | $-21.2M | $-2.2M |
| Q4 25 | — | -14.8% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | 12.1% | ||
| Q2 24 | — | 25.5% | ||
| Q1 24 | — | 22.9% |
| Q4 25 | -730.1% | -234.4% | ||
| Q3 25 | -654.4% | -125.4% | ||
| Q2 25 | -398.9% | -45.2% | ||
| Q1 25 | -399.4% | -56.0% | ||
| Q4 24 | -561.1% | -59.5% | ||
| Q3 24 | -593.2% | -138.7% | ||
| Q2 24 | -530.8% | -131.4% | ||
| Q1 24 | -433.1% | -202.4% |
| Q4 25 | — | -199.9% | ||
| Q3 25 | -693.1% | 30.2% | ||
| Q2 25 | -390.7% | -45.8% | ||
| Q1 25 | -251.8% | -56.2% | ||
| Q4 24 | — | -12.7% | ||
| Q3 24 | -482.0% | -634.4% | ||
| Q2 24 | -438.9% | -173.7% | ||
| Q1 24 | -356.2% | -225.6% |
| Q4 25 | $-0.15 | $-0.45 | ||
| Q3 25 | $-0.14 | $0.10 | ||
| Q2 25 | $-0.14 | $-0.41 | ||
| Q1 25 | $-0.08 | $-0.37 | ||
| Q4 24 | $-0.16 | $65.02 | ||
| Q3 24 | $-0.13 | $-24.55 | ||
| Q2 24 | $-0.13 | $-30.20 | ||
| Q1 24 | $-0.12 | $-31.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.8M | $3.0M |
| Total DebtLower is stronger | — | $197.2K |
| Stockholders' EquityBook value | $415.7M | $6.5M |
| Total Assets | $455.1M | $8.1M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.8M | $3.0M | ||
| Q3 25 | $251.2M | $4.3M | ||
| Q2 25 | $230.9M | $684.9K | ||
| Q1 25 | $240.9M | $1.1M | ||
| Q4 24 | $118.2M | $547.6K | ||
| Q3 24 | $132.0M | $3.3M | ||
| Q2 24 | $140.5M | $902.3K | ||
| Q1 24 | $146.6M | $2.3M |
| Q4 25 | — | $197.2K | ||
| Q3 25 | — | $205.6K | ||
| Q2 25 | — | $213.6K | ||
| Q1 25 | — | $221.8K | ||
| Q4 24 | — | $230.2K | ||
| Q3 24 | — | $239.9K | ||
| Q2 24 | — | $247.7K | ||
| Q1 24 | — | $255.4K |
| Q4 25 | $415.7M | $6.5M | ||
| Q3 25 | $381.2M | $9.0M | ||
| Q2 25 | $370.6M | $2.1M | ||
| Q1 25 | $397.1M | $3.2M | ||
| Q4 24 | $410.3M | $2.5M | ||
| Q3 24 | $439.4M | $2.5M | ||
| Q2 24 | $456.8M | $2.5M | ||
| Q1 24 | $479.4M | $3.7M |
| Q4 25 | $455.1M | $8.1M | ||
| Q3 25 | $416.1M | $10.7M | ||
| Q2 25 | $398.0M | $8.6M | ||
| Q1 25 | $419.4M | $9.2M | ||
| Q4 24 | $448.3M | $9.1M | ||
| Q3 24 | $470.9M | $10.1M | ||
| Q2 24 | $492.6M | $8.8M | ||
| Q1 24 | $516.2M | $10.0M |
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.10× | ||
| Q1 24 | — | 0.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-18.4M | $-2.4M |
| Free Cash FlowOCF − Capex | $-23.0M | — |
| FCF MarginFCF / Revenue | -633.0% | — |
| Capex IntensityCapex / Revenue | 126.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-83.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.4M | $-2.4M | ||
| Q3 25 | $-14.3M | $-2.1M | ||
| Q2 25 | $-14.4M | $-401.0K | ||
| Q1 25 | $-26.3M | $-1.2M | ||
| Q4 24 | $-13.9M | $-2.9M | ||
| Q3 24 | $-9.9M | $-3.2M | ||
| Q2 24 | $-11.1M | $-1.7M | ||
| Q1 24 | $-29.1M | $-1.7M |
| Q4 25 | $-23.0M | — | ||
| Q3 25 | $-14.8M | — | ||
| Q2 25 | $-17.1M | — | ||
| Q1 25 | $-28.6M | — | ||
| Q4 24 | $-18.6M | — | ||
| Q3 24 | $-12.6M | — | ||
| Q2 24 | $-15.5M | — | ||
| Q1 24 | $-33.1M | $-1.7M |
| Q4 25 | -633.0% | — | ||
| Q3 25 | -397.6% | — | ||
| Q2 25 | -264.2% | — | ||
| Q1 25 | -476.1% | — | ||
| Q4 24 | -416.5% | — | ||
| Q3 24 | -271.5% | — | ||
| Q2 24 | -305.8% | — | ||
| Q1 24 | -556.3% | -173.1% |
| Q4 25 | 126.5% | — | ||
| Q3 25 | 15.3% | — | ||
| Q2 25 | 41.5% | — | ||
| Q1 25 | 39.1% | — | ||
| Q4 24 | 105.5% | — | ||
| Q3 24 | 59.7% | — | ||
| Q2 24 | 86.8% | — | ||
| Q1 24 | 68.1% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | -2.90× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
