Welcome to our dedicated page for Xos news (Ticker: XOS), a resource for investors and traders seeking the latest updates and insights on Xos stock.
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. (NASDAQ: XOS) reported its Q4 and full-year 2021 financial results, revealing $3.3 million in Q4 revenue and $5.0 million for the full year. The company experienced a net income of $11.4 million but faced an operating loss of $25.5 million. Xos continues to expand its customer base, notably delivering vehicles to FedEx and UniFirst, and forming partnerships with Yancey Bros. and Merchants Fleet. Cash reserves stand at $168.7 million, and the company aims for Q1 2022 revenues between $4.5 million and $6.3 million, with expected deliveries of 40 to 50 units.
Xos, Inc. (NASDAQ: XOS) is set to host Xos Fleet Week, featuring a main product reveal party on May 10th in Long Beach, California. The event will include ride-and-drives, facility tours, and executive presentations. Xos specializes in manufacturing battery-electric vehicles for medium- and heavy-duty commercial use, focusing on zero-emission solutions and fleet management software. With a commitment to lower total cost of ownership, Xos aims to revolutionize commercial transportation.
Xos, Inc. (NASDAQ: XOS) has successfully delivered three Class 5 through Class 8 battery-electric vehicles to UniFirst in Southern California. This marks the initial rollout in a series of vehicle deliveries aimed at transitioning UniFirst’s fleet to electric, assisting them in reducing emissions. The remaining vehicles are slated for delivery in Boston later in 2022. Xos emphasizes the environmental and business benefits of this partnership, underscoring its commitment to providing sustainable transportation solutions.
Xos, Inc. (NASDAQ: XOS), a premier manufacturer of battery-electric vehicles and related technologies, will announce its Q4 2021 results on March 28, 2022, after market close. This will be followed by a conference call at 5:00 p.m. ET. The presentation will be available via a live Zoom webinar, accessible through Xos’ investor relations website. Xos focuses on providing zero-emission vehicles and fleet management solutions that are cost-efficient, specifically for commercial fleets operating on short daily routes.
Xos, Inc. (NASDAQ: XOS) recently showcased a video featuring the collaboration with CITE Armored and Loomis, highlighting their partnership in developing fully-electric armored vehicles for cash-in-transit services. These vehicles leverage Xos' customizable X-Platform chassis and battery systems, boasting ballistic protection for safety. The collaboration has been ongoing since 2018, emphasizing reliability and safety in transporting valuables. CITE Armored recently celebrated its 20th anniversary, marking a long-term relationship with Loomis as its first customer.
Xos, Inc. (NASDAQ: XOS) has partnered with MHC Xos to enhance sales and service for electric vehicles across six states: Colorado, Illinois, Oklahoma, Missouri, Pennsylvania, and Texas. This strategic partnership aims to improve customer experience with dedicated service bays and a full inventory of replacement parts. The collaboration takes advantage of MHC's extensive dealership network, increasing Xos's reach. The initiative is expected to address the growing demand for commercial electric vehicles, emphasizing customer support and maximizing vehicle uptime.
Xos, Inc. (Nasdaq: XOS) reported preliminary results for Q4 2021, delivering 32 units and achieving revenue of $3.1 million, surpassing earlier projections of 15 to 25 unit deliveries and $1.7 to $3.0 million in revenue. CEO Dakota Semler highlighted the company’s resilience amid global supply chain disruptions and noted the installation of the next-generation Lyra Series™ battery packs in these deliveries. Xos plans to release complete financial results in March 2022, cautioning that preliminary figures may change upon final review.
Xos at Manifest Conference 2022
On January 26, 2022, Giordano Sordoni, COO and Co-Founder of Xos, will speak at the Manifest logistics conference in Las Vegas. He will join other industry leaders to discuss commercial fleet electrification, addressing challenges, investments in charging infrastructure, and sharing success stories. Xos will also showcase its X-Platform chassis and Lyra Series™ battery at the event, emphasizing its commitment to zero-emission commercial vehicles designed for efficiency on short routes.
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