STOCK TITAN

Xos, Inc. - XOS STOCK NEWS

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.

Rhea-AI Summary
Xos successfully completes first launch of over-the-air updates for its 2023 Xos SV Stepvans, revolutionizing the commercial electric vehicle industry. Updates include new vehicle features, powertrain tuning, and charging enhancements. Over-the-air diagnostics also available. A major parcel and delivery operator has already received charging enhancements. Xos leads in providing advanced and reliable electric vehicles.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.29%
Tags
none
-
Rhea-AI Summary
Xos Hub now eligible for CARB's CORE Incentive, saving customers $160K
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
24.45%
Tags
none
-
Rhea-AI Summary
Xos successfully demonstrates the capability of the Xos Hub across multiple use cases and electric vehicles in California. The Hub can charge up to 5 vehicles at once and is a flexible and scalable mobile charging solution. Each demo was successful and interoperability was established with each vehicle type.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.26%
Tags
none
Rhea-AI Summary
Xos hires experienced VPs for Tennessee manufacturing facility, aims for gross margin positive units by Q3 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.3%
Tags
management
-
Rhea-AI Summary
Xos, Inc. reported Q2 2023 financial results, with revenue of $4.8 million and deliveries of 38 units. The company produced and shipped its first positive gross margin units and secured a 30-truck purchase order from UniFirst. Xos revised its outlook for 2023, expecting 250 to 350 unit deliveries and a revenue of $36.3 to $54.7 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.9%
Tags
-
Rhea-AI Summary
Uniform and facility services company UniFirst has placed an order for 30 additional Xos SV Stepvans from Xos, as part of a larger purchase agreement for 200 vehicles. Deliveries are expected between Q4 2023 and Q1 2024. Xos Energy Solutions will also provide charging infrastructure for UniFirst's Ontario location. UniFirst has previously purchased Xos stepvans and implemented Xosphere fleet management software. UniFirst's Executive Vice President of Operations, Michael Croatti, praised Xos' solutions for their successful electrification program.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
31.19%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.37%
Tags
-
Rhea-AI Summary

Xos, Inc. (NASDAQ: XOS) has introduced the second generation Xos Hub™, a mobile DC fast charging solution designed for electric vehicles (EVs). This Hub boasts a 60% increase in charger output, raising the capacity from 25 kW to 40 kW for faster charging. The integrated battery storage has an energy capacity of 390 kWh and can charge up to five EVs simultaneously. Key features include a 43% smaller footprint and advanced safety mechanisms. Additionally, the Hub incorporates software and telematics for optimized charging schedules, further reducing electricity costs. The first unit is currently operational with a major parcel delivery operator in Northern California and is available for lease or purchase. This development addresses the significant barrier of charging infrastructure for fleet operators, aiming to accelerate fleet electrification.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.41%
Tags
none
Rhea-AI Summary

Xos, Inc. (NASDAQ: XOS) announced the release of its first quarter 2023 operating results will occur on May 10, 2023, after U.S. market close. Management will conduct a conference call at 4:30 PM EDT / 1:30 PM PDT to discuss these results. A webcast will be available for those wishing to follow along. The company specializes in manufacturing electric trucks and providing services for battery-electric fleets, focusing on medium- and heavy-duty vehicles. Xos aims to deliver cost-efficient solutions through its proprietary technologies, which enhance the maintenance and overall ownership experience of commercial fleets. For additional details, including dialing instructions for the conference call, visit the company’s website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.41%
Tags

FAQ

What is the current stock price of Xos (XOS)?

The current stock price of Xos (XOS) is $4.505 as of November 1, 2024.

What is the market cap of Xos (XOS)?

The market cap of Xos (XOS) is approximately 35.0M.

What does Xos, Inc. specialize in?

Xos, Inc. specializes in designing and developing fully electric battery mobility systems for medium- and heavy-duty commercial vehicles.

Where is Xos, Inc. located?

Xos, Inc. is based in Los Angeles, California.

What was Xos' revenue growth in 2023?

Xos reported a 22% year-over-year increase in full-year revenue for 2023.

What recent acquisition has Xos made?

Xos has entered into a definitive agreement to acquire ElectraMeccanica to strengthen its balance sheet.

What types of vehicles does Xos focus on?

Xos focuses on medium- and heavy-duty commercial vehicles that operate on last-mile, back-to-base routes.

How do Xos vehicles compare to traditional internal combustion engines?

Xos vehicles are easier to maintain and more cost-efficient on a total cost of ownership basis than traditional internal combustion engines.

What are Xos' goals for 2024?

Xos aims to deliver strong revenue growth of approximately 88% year-over-year at the midpoint of their guidance range.

How can I contact Xos Investor Relations?

You can contact Xos Investor Relations by email at investors@xostrucks.com.

What are some of Xos' recent achievements?

Xos achieved record back-to-back quarters in 2023, launched a gross margin-positive stepvan, and significantly reduced operating expenses.

Where can I find more information about Xos' financial performance?

More information about Xos' financial performance can be found on their Investor Relations website at investors.xostrucks.com.

Xos, Inc.

Nasdaq:XOS

XOS Rankings

XOS Stock Data

34.97M
8.00M
59.2%
2.18%
3.72%
Farm & Heavy Construction Machinery
Motor Vehicle Parts & Accessories
Link
United States of America
LOS ANGELES