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Xos, Inc. (NASDAQ: XOS) is a pioneering electric mobility company based in Los Angeles, specializing in the design and development of fully electric battery mobility systems for commercial fleets. With a strategic focus on medium- and heavy-duty commercial vehicles, Xos offers innovative solutions particularly suited for last-mile delivery routes.
Founded with the mission to provide sustainable and cost-effective transportation, Xos leverages proprietary technologies to deliver zero-emission vehicles that are not only easier to maintain but also more cost-efficient over their total life cycle when compared to traditional internal combustion engines and other commercial EV options. The company's vehicles and fleet management software are tailored to meet the unique needs of back-to-base routes, ensuring efficiency and reliability.
Recent achievements highlight Xos' significant progress in the industry. The company reported a 22% year-over-year increase in full-year revenue, with strong positive gross margins in the third and fourth quarters of 2023. In a move that strengthens its financial position, Xos has entered a definitive agreement to acquire ElectraMeccanica, which is expected to bolster its balance sheet.
During 2023, Xos set delivery records in consecutive quarters, thanks to robust demand for its electric vehicles (EVs). The company also launched a gross margin-positive stepvan and significantly reduced operating expenses. These milestones position Xos to capitalize on future growth opportunities with an optimistic outlook for 2024, forecasting a revenue growth of approximately 88% year-over-year at the midpoint of their guidance range.
Xos is committed to advancing the electric vehicle industry, navigating challenges such as supply chain shortages and regulatory changes. Despite facing cost increases and delays in component production, the company remains focused on meeting production milestones and fulfilling backlog orders. Xos continues to innovate and expand its offerings, aiming to enhance the sustainability and efficiency of commercial transportation.
For more information, visit the Xos website, or contact Xos Investor Relations at investors@xostrucks.com, and Xos Media Relations at press@xostrucks.com.
Xos Inc reported Q3 2024 financial results with revenues of $15.8 million, slightly up from $15.5 million last quarter but down from $16.7 million year-over-year. The company delivered 94 units and achieved gross margins of 18.1%, marking their fifth consecutive quarter of positive gross margins. Notable developments include the start of serial production of Xos Hub mobile charger units in Tennessee. The company maintains strategic partnerships with Blue Bird, Winnebago, UPS, and FedEx Ground. Xos revised its 2024 outlook, projecting revenue between $54.1-67.6 million and unit deliveries of 320-400 units.
Xos, a leading electric truck manufacturer and fleet services provider, has scheduled its third quarter 2024 earnings release for Wednesday, November 13, 2024, after U.S. market close. Management will host a conference call at 4:30 p.m. EDT to discuss the results. The earnings call will be accessible via webcast and telephone, with replay options available until November 27, 2024, through both audio dial-in and the company's website.
Xos, a leader in electric commercial vehicles, has launched the 2025 Xos SV Stepvan with new wheelbase options of 158" and 208", alongside the existing 178". These additions enhance flexibility for fleet operators, catering to diverse needs such as urban deliveries and larger shipments. The Xos SV Stepvan now offers five body lengths from 14 to 22 feet. CEO Dakota Semler highlights the importance of customization in supporting unique operational requirements. Key features include efficient battery performance, high cargo capacity, and minimal maintenance, making it a versatile choice across various industries. The new models are available for order now.
Xos, a leading electric truck manufacturer, reported strong Q2 2024 financial results. Highlights include:
- Revenue of $15.5 million, up 18% quarter-over-quarter and 227% year-over-year
- Unit deliveries of 90, up 45% quarter-over-quarter and 137% year-over-year
- Gross margin of 13.1%, down from 21.2% last quarter but up from -78.4% in Q2 2023
- Announced strategic powertrain partnership with Blue Bird
The company reaffirmed its 2024 outlook, projecting revenue of $66.7-$100.4 million and 400-600 unit deliveries. Xos aims to become the first self-sustaining commercial EV company in the U.S. by focusing on strong fleet relationships, maintaining margins, and leveraging partnerships.
Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, has rescheduled its second quarter 2024 earnings release to Tuesday, August 13, 2024, after the U.S. financial markets close. The company will host a conference call at 4:30 p.m. EDT / 1:30 p.m. PDT on the same day to discuss the financial results. Investors can access the call via webcast or by dialing in. An audio replay will be available until August 27, 2024. Xos specializes in battery-electric vehicles for medium- and heavy-duty commercial use, focusing on last-mile and back-to-base routes. The company aims to provide more cost-efficient and easier-to-maintain alternatives to traditional internal combustion engine vehicles.
Xos, a leader in electric truck manufacturing and fleet services, will release its second quarter 2024 financial results on August 12, 2024, after U.S. market close. A conference call to discuss these results will occur at 4:30 p.m. EDT/1:30 p.m. PDT the same day. To participate, attendees should dial in ten minutes before the call using either the U.S. toll-free number 1-866-250-8117 or the international number 1-412-317-6011 with conference ID 10190972. An audio replay of the call will be available until August 26, 2024. The results will also be accessible via a webcast and archived on the company's website. Xos specializes in battery-electric trucks for medium- and heavy-duty commercial use, providing cost-efficient, low-maintenance alternatives to traditional internal combustion engine vehicles.
Xos, Inc. (NASDAQ: XOS) has announced the delivery of their Xos SV Stepvans and comprehensive charging solutions to Morgan Services, a family-owned textile company.
The delivery includes the first set of Class 6 battery-electric stepvans, with additional orders for facilities in Los Angeles and San Diego. Xos also installed nine charging stations at Morgan Services' Los Angeles site, covering everything from design and permitting to physical installation and activation.
CEO Dakota Semler expressed enthusiasm about the partnership, emphasizing the significance of this milestone for both companies in the realm of fleet electrification. This collaboration underscores Xos' commitment to providing turnkey solutions for businesses transitioning to electric vehicles and solidifies its position as a leader in the commercial fleet electrification space.
Blue Bird (Nasdaq: BLBD), a leader in electric and low-emission school buses, will debut an electric-powered step van at the 2024 Advanced Clean Transportation (ACT) Expo from May 20-23, 2024, in Las Vegas. Partnering with Xos (Nasdaq: XOS) and Morgan Olson, Blue Bird aims to expand its zero-emission solutions to the commercial vehicle market. The step van features a 140kWh Lithium-ion battery offering a range of up to 130 miles and various safety features such as 'hill hold' and 'electric creep.' Blue Bird's stripped chassis provides a 55-degree wheel cut for better maneuverability in urban settings. The company anticipates commercial availability of the stripped chassis by late 2024.
Xos, a leading electric truck manufacturer, reported a significant financial turnaround in Q1 2024, with a 180% year-over-year revenue growth to $13.2 million and industry-leading gross margins of 21.2%. The company completed the acquisition of ElectraMeccanica, boosting its cash position by approximately $50.2 million. Xos delivered 62 units in the quarter and launched the updated Xos Hub mobile charging solution. Despite the progress, Xos still reported a net loss of $11 million, which is an improvement compared to the $24.3 million net loss in the same period last year. The outlook for 2024 includes expected revenue between $66.7 million and $100.4 million, and unit deliveries ranging from 400 to 600 units.
Xos, Inc. has received approval from CARB for their 2024 Xos SV Battery Electric Stepvan to be listed on the HVIP catalog, offering a base incentive of $85,000 per vehicle. This presents a significant opportunity for Xos to provide cost-effective electrification solutions and reduce upfront costs for customers. The HVIP approval underscores Xos's commitment to making electrification more affordable and breaking barriers for businesses transitioning to electric fleets.
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