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XOSWW

Xos, Inc.

XOSWW

Xos, Inc. • NASDAQ
$0.01 ▲ 4.88% (+0.00)
Market Cap $24.33 M
52w High $0.01
52w Low $0.01
Dividend Yield 0%
P/E -0.01
Volume 2.00K
Outstanding Shares 2.79B

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 Q1-2024Q2-2024Q1-2025Q2-2025
Ancillary
Ancillary
 $0 ▲$0 ▲$0 ▲$0 ▲
Manufactured Product Other
Manufactured Product Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $0 ▲$20.00M ▲$10.00M ▼$20.00M ▲
Stepvans And Vehicle Incentives
Stepvans And Vehicle Incentives
 $10.00M ▲$10.00M ▲$0 ▼$20.00M ▲
FleetAsA Service
FleetAsA Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Powertrains
Powertrains
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The company is still very early in its commercial ramp. Revenue has been slowly growing from a very small base, but the business is far from scale. Gross profit has hovered around break-even to slightly negative, which suggests pricing and production costs are not yet optimized. Operating results have been consistently in the red, though the size of losses has eased somewhat in the most recent year compared with earlier, heavier loss periods. Net results are still clearly loss‑making, with one earlier year flattered by one‑off SPAC‑related accounting rather than true underlying profitability. Overall, this is still a development-stage business with modest sales and persistent operating losses.

Balance Sheet

Balance Sheet The balance sheet looks lightweight and somewhat fragile. Total assets have come down from earlier highs, and the cash balance is limited relative to the ongoing losses. Debt is present and has ticked up compared with prior years, adding financial obligations that must be serviced from a small and unprofitable base. Equity remains positive but has shrunk as losses accumulate, which reduces the cushion against future setbacks. In simple terms, the company has enough assets to operate today but does not have a deep financial buffer, so access to outside capital remains important.

Cash Flow

Cash Flow The company has been burning cash from its core operations each year, although the pace of that burn has improved versus the period of heaviest outflows. Free cash flow is negative and closely tracks operating cash flow, because spending on property and equipment is relatively modest. This means most cash use is going into running and building the business rather than into large physical assets. The pattern is typical for an early‑stage industrial and technology company, but it also means the business is not yet self‑funding and remains dependent on raising capital or using its balance sheet to cover ongoing cash needs.

Competitive Edge

Competitive Edge Xos operates in a focused niche within commercial electric vehicles: last‑mile and back‑to‑base delivery fleets. This is a segment well suited to electrification, and the company has tailored its vehicles, charging solutions, and service model specifically for these use cases. Its “Fleet‑as‑a‑Service” approach, which bundles vehicles, charging, and maintenance into a single offering, can create stickier customer relationships and higher switching costs. Relationships with well‑known delivery partners validate the product and provide valuable feedback loops. However, the broader commercial EV market is crowded, with larger and better‑funded players also targeting fleets. Xos’s competitive strength depends on its ability to scale manufacturing efficiently, maintain product reliability, and keep deepening its integrated service offering despite its relatively small financial base.

Innovation and R&D

Innovation and R&D Innovation is a clear strong point. Xos has developed its own battery systems, a modular vehicle platform, and a software suite (Xosphere) that ties vehicles, charging, and fleet management together. This vertical integration gives it control over performance, cost, and customer experience, and creates multiple potential revenue streams. The “Powered by Xos” initiative extends its powertrain technology to other manufacturers, while Xos Energy Solutions addresses charging bottlenecks with mobile and flexible infrastructure. The product roadmap includes expansion into more vehicle types and new applications through partnerships, such as work with specialty vehicle makers. The key question is whether the company can fund and execute this innovation pipeline at the pace needed to stay ahead in a fast‑moving, capital‑intensive industry.

Summary

Xos is an early‑stage, highly innovative commercial EV company with a sharp focus on last‑mile and back‑to‑base fleets. Its strengths lie in proprietary technology, an integrated fleet and charging solution, and strategic relationships that provide both credibility and learning opportunities. Financially, it remains a small, loss‑making business with a thin balance sheet and ongoing cash burn, which introduces funding and execution risks. The long‑term opportunity is tied to successful scaling of production, continued technology improvement, and the ability to win and retain fleet customers in the face of strong competition. Outcomes are likely to be volatile, with meaningful upside if plans are executed well, but also significant risk if growth, funding, or reliability fall short.