What is Xos Inc's earnings per share (EPS)?

Xos Inc (XOS) reported diluted earnings per share of $-2.71 for fiscal year 2025. This represents a 59.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Xos Inc Financials

XOS

Source SEC Filings (10-K/10-Q) Updated Mar 30, 2026 Currency USD FYE March

This page shows Xos Inc (XOS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 30/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Xos Inc has an operating margin of -71.9%, meaning the company retains $-72 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -82.0% the prior year.

Growth

Xos Inc's revenue declined 17.8% year-over-year, from $56.0M to $46.0M. This contraction results in a growth score of 4/100.

Leverage

Xos Inc carries a low D/E ratio of 0.79, meaning only $0.79 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Xos Inc's current ratio of 2.11 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Xos Inc has a free cash flow margin of 11.0%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Xos Inc generates a -108.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -149.2% the prior year.

Piotroski F-Score Neutral

5/9

Xos Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.21x

For every $1 of reported earnings, Xos Inc generates $-0.21 in operating cash flow ($5.4M OCF vs -$25.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$46.0M

YoY-17.8%

5Y CAGR+77.1%

Xos Inc generated $46.0M in revenue in fiscal year 2025. This represents a decrease of 17.8% from the prior year.

EBITDA

-$30.8M

YoY+26.0%

Xos Inc's EBITDA was -$30.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.0% from the prior year.

Net Income

-$25.3M

YoY+49.5%

Xos Inc reported -$25.3M in net income in fiscal year 2025. This represents an increase of 49.5% from the prior year.

EPS (Diluted)

$-2.71

YoY+59.5%

Xos Inc earned $-2.71 per diluted share (EPS) in fiscal year 2025. This represents an increase of 59.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$5.1M

YoY+110.3%

Xos Inc generated $5.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 110.3% from the prior year.

Cash & Debt

$14.0M

YoY+27.7%

5Y CAGR+6.3%

Xos Inc held $14.0M in cash against $18.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

12M

YoY+48.9%

5Y CAGR-30.2%

Xos Inc had 12M shares outstanding in fiscal year 2025. This represents an increase of 48.9% from the prior year.

Margins & Returns

Gross Margin

5.9%

YoY-1.2pp

5Y CAGR-5.4pp

Xos Inc's gross margin was 5.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.

Operating Margin

-71.9%

YoY+10.0pp

5Y CAGR+377.6pp

Xos Inc's operating margin was -71.9% in fiscal year 2025, reflecting core business profitability. This is up 10.0 percentage points from the prior year.

Net Margin

-55.0%

YoY+34.6pp

5Y CAGR+576.0pp

Xos Inc's net profit margin was -55.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 34.6 percentage points from the prior year.

Return on Equity

-108.7%

YoY+40.5pp

Xos Inc's ROE was -108.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 40.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$8.0M

YoY-24.7%

5Y CAGR+2.7%

Xos Inc invested $8.0M in research and development in fiscal year 2025. This represents a decrease of 24.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$304K

YoY+0.0%

5Y CAGR-5.7%

Xos Inc invested $304K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.

XOS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$46.0M-17.8%	$56.0M+25.7%	$44.5M+22.4%	$36.4M+620.6%	$5.0M+91.1%	$2.6M
Cost of Revenue	$43.3M-16.8%	$52.0M+13.5%	$45.8M-31.0%	$66.4M+796.2%	$7.4M+216.5%	$2.3M
Gross Profit	$2.7M-31.3%	$4.0M+407.4%	-$1.3M+95.7%	-$30.0M-1171.3%	-$2.4M-887.3%	$300K
R&D Expenses	$8.0M-24.7%	$10.6M-45.8%	$19.6M-36.1%	$30.7M+52.8%	$20.1M+186.2%	$7.0M
SG&A Expenses	$24.8M-29.3%	$35.1M-6.9%	$37.7M-8.3%	$41.1M+51.1%	$27.2M+653.6%	$3.6M
Operating Income	-$33.1M+27.9%	-$45.9M+29.4%	-$65.0M+41.7%	-$111.3M-109.5%	-$53.2M-347.7%	-$11.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$23K-37.8%	$37K+76.2%	$21K+162.5%	$8K+300.0%	$2K	$0
Net Income	-$25.3M+49.5%	-$50.2M+33.9%	-$75.8M-3.4%	-$73.3M-413.3%	$23.4M+240.4%	-$16.7M
EPS (Diluted)	$-2.71+59.5%	$-6.69+49.0%	$-13.11+1.6%	$-13.32-6154.5%	$0.22+195.7%	$-0.23

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$16.5M-10.3%	$18.4M+212.9%	$5.9M-48.8%	$11.5M-27.3%	$15.8M+1.6%	$15.5M+18.0%	$13.2M-28.4%	$18.4M
Cost of Revenue	$14.0M-16.7%	$16.8M+259.3%	$4.7M-69.3%	$15.2M+17.5%	$12.9M-4.3%	$13.5M+30.2%	$10.4M-39.2%	$17.0M
Gross Profit	$2.5M+56.3%	$1.6M+33.7%	$1.2M+132.6%	-$3.7M-229.8%	$2.9M+41.1%	$2.0M-27.2%	$2.8M+110.1%	$1.3M
R&D Expenses	$2.1M+0.7%	$2.1M+8.1%	$1.9M-0.3%	$1.9M-26.1%	$2.6M-12.6%	$3.0M-2.5%	$3.1M-25.8%	$4.1M
SG&A Expenses	$6.5M+9.3%	$5.9M-25.2%	$7.9M-1.9%	$8.1M-9.5%	$8.9M-3.0%	$9.2M+2.4%	$9.0M+15.8%	$7.7M
Operating Income	-$7.0M+1.2%	-$7.1M+23.6%	-$9.3M+36.4%	-$14.6M-50.4%	-$9.7M+14.8%	-$11.4M-11.0%	-$10.2M+13.4%	-$11.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$2K-115.4%	$13K+8.3%	$12K-50.0%	$24K+500.0%	$4K0.0%	$4K-20.0%	$5K-64.3%	$14K
Net Income	$2.1M+128.3%	-$7.5M+26.3%	-$10.2M+46.3%	-$19.0M-80.6%	-$10.5M-8.8%	-$9.7M+12.2%	-$11.0M+20.4%	-$13.8M
EPS (Diluted)	$0.22+124.2%	$-0.91+27.8%	$-1.26	N/A	$-1.32-7.3%	$-1.23+31.7%	$-1.80	N/A

XOS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$60.4M-38.6%	$98.3M+5.0%	$93.7M-50.7%	$189.9M-17.0%	$228.7M+1560.4%	$13.8M
Current Assets	$49.9M-39.4%	$82.3M+14.8%	$71.7M-56.1%	$163.2M-1.7%	$166.0M+1207.8%	$12.7M
Cash & Equivalents	$14.0M+27.7%	$11.0M-5.5%	$11.6M-67.3%	$35.6M+120.7%	$16.1M+55.8%	$10.4M
Inventory	$25.0M-31.7%	$36.6M-3.4%	$37.8M-34.2%	$57.5M+86.3%	$30.9M+1554.2%	$1.9M
Accounts Receivable	$6.0M-77.5%	$26.9M+77.5%	$15.1M+83.8%	$8.2M+145.7%	$3.4M+721.8%	$408K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$37.1M-42.7%	$64.7M+33.5%	$48.5M-37.7%	$77.9M+43.4%	$54.3M+32.6%	$41.0M
Current Liabilities	$23.7M-49.3%	$46.7M+138.4%	$19.6M-57.2%	$45.8M+186.3%	$16.0M-51.5%	$32.9M
Long-Term Debt	$18.5M	N/A	N/A	N/A	N/A	N/A
Total Equity	$23.3M-30.7%	$33.6M-25.6%	$45.2M-59.7%	$112.1M-35.7%	$174.4M+741.2%	-$27.2M
Retained Earnings	-$228.7M-12.4%	-$203.4M-32.7%	-$153.3M-98.0%	-$77.4M-1791.5%	-$4.1M+85.1%	-$27.5M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$73.8M-8.1%	$80.3M-8.4%	$87.7M-10.8%	$98.3M-18.4%	$120.5M-2.4%	$123.4M-8.6%	$135.0M+44.1%	$93.7M
Current Assets	$62.5M-6.2%	$66.6M-8.8%	$73.1M-11.2%	$82.3M-15.7%	$97.6M-2.5%	$100.1M-11.2%	$112.8M+57.3%	$71.7M
Cash & Equivalents	$14.1M+60.1%	$8.8M+84.6%	$4.8M-56.7%	$11.0M+30.4%	$8.4M-57.1%	$19.7M-57.4%	$46.2M+296.6%	$11.6M
Inventory	$25.2M-18.7%	$31.0M-18.4%	$38.0M+3.9%	$36.6M-13.8%	$42.4M+2.5%	$41.4M+12.9%	$36.6M-3.2%	$37.8M
Accounts Receivable	$15.4M-15.0%	$18.1M-18.6%	$22.2M-17.3%	$26.9M-26.3%	$36.4M+22.5%	$29.7M+46.4%	$20.3M+34.2%	$15.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$42.8M-31.1%	$62.0M-1.4%	$62.9M-2.9%	$64.7M-7.1%	$69.7M+8.5%	$64.2M-4.4%	$67.2M+38.5%	$48.5M
Current Liabilities	$26.0M-13.7%	$30.1M-33.7%	$45.4M-2.8%	$46.7M-7.0%	$50.2M+150.3%	$20.1M-10.1%	$22.3M+14.0%	$19.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$31.1M+69.5%	$18.3M-26.1%	$24.8M-26.2%	$33.6M-33.9%	$50.8M-14.2%	$59.2M-12.7%	$67.8M+50.0%	$45.2M
Retained Earnings	-$219.0M+1.0%	-$221.1M-3.5%	-$213.6M-5.0%	-$203.4M-10.3%	-$184.4M-6.0%	-$173.9M-5.9%	-$164.3M-7.2%	-$153.3M

XOS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$5.4M+111.0%	-$48.8M-24.2%	-$39.3M+69.3%	-$128.0M-43.9%	-$88.9M-620.5%	-$12.3M
Capital Expenditures	$304K0.0%	$304K-78.1%	$1.4M-90.2%	$14.1M+187.1%	$4.9M+1107.6%	$407K
Free Cash Flow	$5.1M+110.3%	-$49.1M-20.7%	-$40.7M+71.4%	-$142.1M-51.4%	-$93.8M-636.1%	-$12.7M
Investing Cash Flow	$61K-99.9%	$51.2M+1.1%	$50.6M-38.8%	$82.7M+153.3%	-$155.1M-38018.7%	-$407K
Financing Cash Flow	-$2.4M+21.3%	-$3.0M+92.1%	-$38.4M-159.3%	$64.7M-74.4%	$252.9M+995.3%	$23.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$0-100.0%	$3K

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$3.1M-33.8%	$4.6M+197.7%	-$4.8M-244.4%	$3.3M+128.6%	-$11.5M+55.7%	-$26.0M-78.1%	-$14.6M-2212.0%	-$631K
Capital Expenditures	$0	$0	$0	$0-100.0%	$148K+17.5%	$126K+320.0%	$30K-86.4%	$221K
Free Cash Flow	$3.1M-33.8%	$4.6M+197.7%	-$4.8M-244.4%	$3.3M+128.2%	-$11.7M+55.3%	-$26.1M-78.6%	-$14.6M-1615.8%	-$852K
Investing Cash Flow	$43K	$0	$0	$0+100.0%	-$23K+81.7%	-$126K-100.2%	$51.3M+23324.0%	-$221K
Financing Cash Flow	$2.2M+449.7%	-$618K+58.3%	-$1.5M+0.4%	-$1.5M-3820.0%	$40K+108.3%	-$484K+55.7%	-$1.1M+89.9%	-$10.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XOS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	5.9%-1.2pp	7.1%+10.0pp	-2.9%+79.7pp	-82.5%-35.8pp	-46.8%-58.1pp	11.4%
Operating Margin	-71.9%+10.0pp	-82.0%+63.9pp	-145.9%+160.2pp	-306.1%+746.9pp	-1053.0%-603.5pp	-449.5%
Net Margin	-55.0%+34.6pp	-89.6%+80.7pp	-170.3%+31.2pp	-201.6%-665.2pp	463.6%+1094.7pp	-631.1%
Return on Equity	-108.7%+40.5pp	-149.2%+18.6pp	-167.8%-102.4pp	-65.4%-78.8pp	13.4%	N/A
Return on Assets	-41.9%+9.1pp	-51.0%+29.9pp	-81.0%-42.4pp	-38.6%-48.8pp	10.2%+131.2pp	-121.0%
Current Ratio	2.11+0.3	1.76-1.9	3.66+0.1	3.57-6.8	10.38+10.0	0.39
Debt-to-Equity	0.79-1.1	1.93+0.9	1.07+0.4	0.69+0.4	0.31+1.8	-1.51
FCF Margin	11.0%+98.8pp	-87.8%+3.6pp	-91.3%+299.2pp	-390.6%+1467.8pp	-1858.4%-1375.8pp	-482.6%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	15.3%+6.5pp	8.8%-11.8pp	20.6%+53.0pp	-32.4%-50.5pp	18.1%+5.1pp	13.1%-8.1pp	21.2%+14.0pp	7.2%
Operating Margin	-42.4%-3.9pp	-38.5%+119.2pp	-157.7%-30.7pp	-127.0%-65.6pp	-61.4%+11.8pp	-73.2%+4.6pp	-77.8%-13.4pp	-64.4%
Net Margin	12.9%+53.7pp	-40.8%+132.5pp	-173.3%-7.8pp	-165.4%-98.9pp	-66.6%-4.4pp	-62.2%+21.4pp	-83.6%-8.4pp	-75.2%
Return on Equity	6.8%+47.8pp	-40.9%+0.1pp	-41.1%+15.4pp	-56.5%-35.8pp	-20.7%-4.4pp	-16.3%-0.1pp	-16.2%+14.4pp	-30.6%
Return on Assets	2.9%+12.2pp	-9.3%+2.3pp	-11.6%+7.7pp	-19.3%-10.6pp	-8.7%-0.9pp	-7.8%+0.3pp	-8.2%+6.6pp	-14.8%
Current Ratio	2.41+0.2	2.22+0.6	1.61-0.2	1.76-0.2	1.94-3.0	4.99-0.1	5.06+1.4	3.66
Debt-to-Equity	1.38-2.0	3.38+0.8	2.53+0.6	1.93+0.6	1.37+0.3	1.08+0.1	0.99-0.1	1.07
FCF Margin	18.6%-6.6pp	25.3%+106.2pp	-80.9%-109.6pp	28.7%+102.6pp	-73.9%+94.2pp	-168.1%-57.0pp	-111.1%-106.4pp	-4.6%

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Frequently Asked Questions

What is Xos Inc's annual revenue?

Xos Inc (XOS) reported $46.0M in total revenue for fiscal year 2025. This represents a -17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Xos Inc's revenue growing?

Xos Inc (XOS) revenue declined by 17.8% year-over-year, from $56.0M to $46.0M in fiscal year 2025.

Is Xos Inc profitable?

No, Xos Inc (XOS) reported a net income of -$25.3M in fiscal year 2025, with a net profit margin of -55.0%.

What is Xos Inc's EBITDA?

Xos Inc (XOS) had EBITDA of -$30.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Xos Inc have?

As of fiscal year 2025, Xos Inc (XOS) had $14.0M in cash and equivalents against $18.5M in long-term debt.

What is Xos Inc's gross margin?

Xos Inc (XOS) had a gross margin of 5.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Xos Inc's operating margin?

Xos Inc (XOS) had an operating margin of -71.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Xos Inc's net profit margin?

Xos Inc (XOS) had a net profit margin of -55.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Xos Inc's return on equity (ROE)?

Xos Inc (XOS) has a return on equity of -108.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Xos Inc's free cash flow?

Xos Inc (XOS) generated $5.1M in free cash flow during fiscal year 2025. This represents a 110.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Xos Inc's operating cash flow?

Xos Inc (XOS) generated $5.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Xos Inc's total assets?

Xos Inc (XOS) had $60.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Xos Inc's capital expenditures?

Xos Inc (XOS) invested $304K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Xos Inc spend on research and development?

Xos Inc (XOS) invested $8.0M in research and development during fiscal year 2025.

How many shares does Xos Inc have outstanding?

Xos Inc (XOS) had 12M shares outstanding as of fiscal year 2025.

What is Xos Inc's current ratio?

Xos Inc (XOS) had a current ratio of 2.11 as of fiscal year 2025, which is generally considered healthy.

What is Xos Inc's debt-to-equity ratio?

Xos Inc (XOS) had a debt-to-equity ratio of 0.79 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xos Inc's return on assets (ROA)?

Xos Inc (XOS) had a return on assets of -41.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Xos Inc's Piotroski F-Score?

Xos Inc (XOS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Xos Inc's earnings high quality?

Xos Inc (XOS) has an earnings quality ratio of -0.21x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Xos Inc?

Xos Inc (XOS) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.