Expion360 designs, assembles, and sells lithium iron phosphate (LiFePO4) batteries and accessories, primarily targeting RV and marine customers looking to replace lead-acid batteries with longer-lasting lithium alternatives. The core product line, e360, offers higher energy density, a roughly 12-year lifespan, and significantly more charge cycles than lead-acid batteries, making it an appealing upgrade for off-grid power users. Expion360 sells through approximately 300 dealers, wholesalers, and OEMs nationwide — including Camping World, Keystone Automotive, and Meyer Distributing — and also sells direct-to-consumer via e-commerce. Four customers account for roughly 60% of gross sales, reflecting high customer concentration. Manufacturing is fully outsourced to Asian third-party manufacturers, making battery cell costs, FX, and U.S. tariffs key margin drivers. Expion360 makes money on the markup between its cost of goods and selling price, with batteries carrying higher margins than accessory sales (chargers, inverters, solar components). Beyond RV and marine, Expion360 is expanding into home energy storage, light electric vehicles, and industrial applications. The home energy storage vertical, launched in early 2025, targets residential and small commercial solar users and is viewed by management as the primary long-term growth driver. Expion360 is also pursuing OEM relationships with RV manufacturers and exploring a U.S.-based manufacturing joint venture with NeoVolta to reduce tariff exposure.