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XOS

Xos, Inc.

XOS

Xos, Inc. • NASDAQ
$2.36 ▲ 2.61% (+0.06)
Market Cap $20.12 M
52w High $9.15
52w Low $2.12
Dividend Yield 0%
P/E -0.56
Volume 27.13K
Outstanding Shares 8.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $16.5M ▼ $9.525M ▲ $2.123M ▲ 12.867% ▲ $0.22 ▲ $3.57M ▲
Q2-2025 $18.393M ▲ $8.7M ▼ $-7.505M ▲ -40.804% ▲ $-0.91 ▲ $-6.517M ▲
Q1-2025 $5.879M ▼ $10.48M ▼ $-10.186M ▲ -173.261% ▼ $-1.26 ▲ $-8.762M ▲
Q4-2024 $11.474M ▼ $10.855M ▼ $-18.981M ▼ -165.426% ▼ $-2.36 ▼ $-13.211M ▼
Q3-2024 $15.79M $12.555M $-10.512M -66.574% $-1.32 $-8.505M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.066M ▲ $73.81M ▼ $42.75M ▼ $31.06M ▲
Q2-2025 $8.785M ▲ $80.349M ▼ $62.021M ▼ $18.328M ▼
Q1-2025 $4.758M ▼ $87.681M ▼ $62.874M ▼ $24.807M ▼
Q4-2024 $10.996M ▲ $98.333M ▼ $64.723M ▼ $33.61M ▼
Q3-2024 $8.432M $120.513M $69.672M $50.841M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.123M ▲ $3.077M ▼ $43K ▲ $2.161M ▲ $5.281M ▲ $3.077M ▼
Q2-2025 $-7.505M ▲ $4.645M ▲ $0 $-618K ▲ $4.027M ▲ $4.645M ▲
Q1-2025 $-10.186M ▲ $-4.756M ▼ $0 $-1.482M ▲ $-6.238M ▼ $-4.756M ▼
Q4-2024 $-18.981M ▼ $3.298M ▲ $0 ▲ $-1.488M ▼ $1.81M ▲ $3.298M ▲
Q3-2024 $-10.512M $-11.517M $-23K $40K $-11.5M $-11.665M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
Ancillary
Ancillary
 $0 ▲$0 ▲$0 ▲$0 ▲
Manufactured Product Other
Manufactured Product Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $20.00M ▲$20.00M ▲$40.00M ▲$20.00M ▼
Stepvans And Vehicle Incentives
Stepvans And Vehicle Incentives
 $10.00M ▲$10.00M ▲$20.00M ▲$20.00M ▲
Automotive Regulatory Credits
Automotive Regulatory Credits
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been slowly increasing from a very low base, but the business is still in an early, sub‑scale stage. Gross profits hover around breakeven or slightly negative, showing that the cost to build and deliver vehicles is still high relative to what they sell for. Operating losses remain sizable, reflecting heavy spending on engineering, manufacturing ramp‑up, and overhead against modest sales. Net results have been consistently in the red over time, with one unusual profitable year that looks more like a one‑off item than a sign of sustainable earnings. Overall, the income statement tells the story of a young company still investing heavily and far from consistent profitability.

Balance Sheet

Balance Sheet The company operates with a relatively small asset base and a limited cash cushion, which underscores its early stage and modest scale. Debt exists but is not extreme in absolute terms; however, given the small size of the business, even moderate borrowings matter. Shareholders’ equity is positive but has been drifting down as losses accumulate, gradually eroding the financial buffer. The balance sheet looks thin and somewhat fragile, leaving less room for missteps or prolonged periods of weak performance without the need for fresh capital.

Cash Flow

Cash Flow Cash flow from day‑to‑day operations has been negative for years, meaning the business consumes cash rather than generates it. Capital spending has been fairly light, so most of the cash burn comes from operating losses rather than big factory or equipment investments. Free cash flow is consistently negative and closely tracks operating cash outflows. In practical terms, the company depends on external financing—whether equity raises, debt, or other instruments—to fund its growth and cover ongoing costs until it can reach scale and improve margins.

Competitive Edge

Competitive Edge Xos is aiming at a clear niche in commercial electric vehicles: last‑mile, back‑to‑base fleets such as parcel delivery and similar routes. This focused strategy avoids direct head‑to‑head battles with long‑haul truck makers and passenger EV giants, and plays into predictable routes where charging is easier to manage. Its ecosystem approach—vehicles, batteries, charging, and software—can be attractive to fleet operators that want a single partner. At the same time, the company is small, in a crowded field, and competes against better‑capitalized players and established truck manufacturers entering the EV space. Winning large, repeat fleet orders and proving reliable performance at scale will be critical to strengthening its competitive position.

Innovation and R&D

Innovation and R&D The company’s main strengths lie in its technology stack: a purpose‑built electric chassis, in‑house battery systems, and connected fleet management software, plus mobile and fixed charging solutions. This combination allows for customizable vehicles, tailored range, and integrated charging and data services, which can help lower operating costs for fleets over time. The “Fleet‑as‑a‑Service” and “Powered by Xos” concepts show an attempt to move beyond just selling trucks into recurring services and technology licensing. The main risk is execution: turning strong concepts and prototypes into reliable, cost‑effective products at volume, while continuing to invest in R&D despite limited financial resources. Partnerships and successful deployments will be key signals that the technology edge is translating into commercial traction.

Summary

Xos is a specialized commercial EV maker with promising technology and a clear niche focus, but it remains an early‑stage, loss‑making business with a lean balance sheet and steady cash burn. The financials show gradual revenue progress but persistent operating losses and negative cash flow, indicating that scale and cost improvements are still ahead rather than behind. On the strategic side, its integrated platform—vehicles, batteries, charging, and software—along with service‑based offerings and partnerships, provides a differentiated story in last‑mile electrification. The big questions going forward are whether Xos can grow volumes, improve unit economics, secure ongoing funding when needed, and establish durable relationships with major fleet customers to move from a promising concept to a sustainable, profitable enterprise.

NEWS

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