[Q2 2025 Earnings Release](index=1&type=section&id=Q2%202025%20Earnings%20Release) [Performance Highlights & Management Commentary](index=1&type=section&id=Performance%20Highlights%20%26%20Management%20Commentary) The company achieved record Q2 2025 revenue and deliveries, minimized its operating loss, and generated positive free cash flow through disciplined execution and strategic partnerships - Achieved record unit deliveries of **135 units** and record revenue of **$18.4 million** in Q2 2025[1](index=1&type=chunk)[4](index=4&type=chunk) - Posted the lowest operating loss since going public at **$7.1 million**, reflecting a **$4.7 million (35%) year-over-year reduction** in operating expenses[1](index=1&type=chunk)[4](index=4&type=chunk) - Generated the highest-ever positive free cash flow and net cash from operating activities of **$4.6 million**[1](index=1&type=chunk)[4](index=4&type=chunk) - Management emphasized a **"fleet-first" growth strategy** and diversification into a complete electrification platform, including powertrain systems and mobile charging Hubs[3](index=3&type=chunk)[5](index=5&type=chunk) [Financial Results](index=2&type=section&id=Financial%20Results) [Q2 2025 Financial Performance](index=2&type=section&id=Q2%202025%20Financial%20Performance) The company reported significant Q2 2025 revenue growth to $18.4 million and narrowed its net loss to $7.5 million, despite a lower gross margin from product mix changes Q2 2025 Key Financial Metrics (in millions) | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Revenues | $18.4 | $5.9 | $15.5 | | Gross Profit | $1.6 | $1.2 | $2.0 | | Loss from Operations | $(7.1) | $(9.3) | $(11.4) | | Net Loss | $(7.5) | $(10.2) | $(9.7) | - Gross margin for Q2 2025 was **8.8%**, a decrease from 20.6% in the previous quarter and 13.1% in Q2 2024, attributed to product mix and unfavorable inventory adjustments[4](index=4&type=chunk) Six Months Ended June 30 Financials (in thousands) | Metric | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Revenues | $24,272 | $28,697 | | Gross Profit | $2,830 | $4,818 | | Loss from Operations | $(16,350) | $(21,611) | | Net Loss | $(17,691) | $(20,666) | [Balance Sheet](index=6&type=section&id=Balance%20Sheet) The company's balance sheet as of June 30, 2025, showed total assets of $80.3 million and cash of $8.8 million, with reductions in both assets and liabilities from year-end 2024 Key Balance Sheet Items (in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $8,785 | $10,996 | | Inventories | $31,012 | $36,567 | | Total Assets | $80,349 | $98,333 | | Total Liabilities | $62,021 | $64,723 | | Total Stockholders' Equity | $18,328 | $33,610 | [2025 Full-Year Outlook](index=2&type=section&id=2025%20Full-Year%20Outlook) The company maintained its 2025 revenue and delivery guidance but revised its Non-GAAP operating loss forecast upward due to changes in product mix and tariff costs 2025 Full-Year Guidance | Metric | Outlook | | :--- | :--- | | Revenue | $50.2 to $65.8 million | | Unit Deliveries | 320 to 420 units | | Non-GAAP operating loss | $26.9 to $24.4 million | - The Non-GAAP operating loss guidance was revised upward from a previous range of $14.0 to $17.2 million due to expected product mix changes and increased tariff-related costs[7](index=7&type=chunk)[8](index=8&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) The company's non-GAAP measures show improved operational performance, highlighted by a positive $4.6 million in Free Cash Flow and a narrowed Non-GAAP operating loss of $6.9 million - The company uses non-GAAP measures including Free Cash Flow (Operating cash flow less CapEx), Non-GAAP operating loss (adjusted for stock-based compensation and inventory items), and Non-GAAP gross profit (adjusted for inventory items)[14](index=14&type=chunk)[15](index=15&type=chunk) Reconciliation of Key Non-GAAP Measures (Q2 2025 vs Q2 2024, in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Free Cash Flow | $4,645 | $(26,113) | | Non-GAAP Operating Loss | $(6,860) | $(9,737) | | Non-GAAP Gross Profit | $266 | $2,027 | [Supplementary Information](index=3&type=section&id=Supplementary%20Information) This section provides details for the investor conference call, an overview of the company's business, and cautionary statements on forward-looking information - The company scheduled a conference call and webcast on August 13, 2025, to discuss the quarterly results[10](index=10&type=chunk) - Xos positions itself as a technology company, electric truck manufacturer, and fleet services provider for last-mile, back-to-base commercial vehicles[12](index=12&type=chunk) - The report includes a "Cautionary Statement Regarding Forward-Looking Statements" detailing numerous risks and uncertainties, including liquidity, supply chain issues, and industry competition, that could affect future results[17](index=17&type=chunk)[18](index=18&type=chunk)

Core Viewpoint - Xos, Inc. reported a breakout quarter in Q2 2025, achieving record unit volumes, highest revenue to date, and the lowest operating loss since going public, alongside positive free cash flow for the second time in its history [1][3][9]. Financial Performance - Generated $4.6 million in net cash from operating activities, marking the highest in the company's history [1][5]. - Delivered 135 units, generating $18.4 million in revenue, compared to 90 units and $15.5 million in Q2 2024, representing the highest quarterly deliveries and revenues in the company's history [5][21]. - Achieved gross margins of 8.8%, down from 20.6% in the previous quarter and 13.1% in Q2 2024, attributed to product mix and unfavorable inventory adjustments [5][21]. - Reported an operating loss of $7.1 million, the lowest since going public, with a 35% year-over-year reduction in operating expenses [5][21]. Strategic Developments - Xos's fleet-first growth strategy is outperforming in a volatile industry, with significant deliveries to UPS and steady deployments to FedEx ISPs and other large fleet operators [3][4]. - The company is diversifying revenue streams beyond vehicle sales, with powertrain systems and mobile charging hubs gaining traction [3][4]. - Xos is transitioning from a truck manufacturer to a complete electrification platform, reinforcing its market position [3][4]. Outlook for 2025 - Xos maintains its revenue and unit delivery outlook for 2025, projecting revenues between $50.2 million and $65.8 million, with unit deliveries expected to range from 320 to 420 units [7][9]. - The company revised its Non-GAAP operating loss outlook for 2025 to between $26.9 million and $24.4 million due to changes in expected product mix and increased costs from tariffs [7][9].

Core Insights - Xos, Inc. is set to release its second quarter 2025 operating results on August 13, 2025, after U.S. market close [1] - A conference call will be held on the same day at 4:30 p.m. Eastern Time to discuss the financial results [1][2] Company Overview - Xos, Inc. is a prominent electric truck manufacturer and fleet services provider, focusing on battery-electric fleets [3] - The company specializes in medium- and heavy-duty commercial vehicles designed for last-mile and back-to-base routes [3] - Xos leverages proprietary technologies to offer battery-electric vehicles that are more cost-efficient on a total cost of ownership basis compared to internal combustion engine vehicles [3]

Financial Performance - Revenues for Q1 2025 were $5,879,000, a decrease of 55.4% compared to $13,162,000 in Q1 2024[24]. - Gross profit for Q1 2025 was $1,211,000, down 56.5% from $2,788,000 in Q1 2024[24]. - Net loss for Q1 2025 was $10,186,000, compared to a net loss of $11,003,000 in Q1 2024, representing a 7.4% improvement[24]. - Operating expenses for Q1 2025 totaled $10,480,000, down 19.5% from $13,031,000 in Q1 2024[24]. - The company reported a basic net loss per share of $1.26 for Q1 2025, an improvement from $1.80 in Q1 2024[24]. - Total revenues for the three months ended March 31, 2025, were $5,879,000, a decrease of 55% compared to $13,162,000 for the same period in 2024[69]. - Vehicle sales accounted for $3,600,000 (61% of total revenue) in Q1 2025, down from $11,600,000 (88% of total revenue) in Q1 2024, reflecting a significant decline in deliveries[162]. - The company delivered 22 vehicles in Q1 2025, compared to 60 vehicles in Q1 2024, primarily due to delays in executing sales orders[162]. - The net loss for Q1 2025 was $10.2 million, compared to a net loss of $11.0 million in Q1 2024, reflecting a decrease of $0.8 million or 7%[189]. - Revenues decreased by $7.3 million, or 55%, from $13.2 million in Q1 2024 to $5.9 million in Q1 2025, primarily due to a decrease in unit sales and average selling price[190]. Assets and Liabilities - Total current assets decreased to $73,089,000 as of March 31, 2025, from $82,301,000 as of December 31, 2024, a decline of 11.1%[21]. - Total liabilities decreased to $62,874,000 as of March 31, 2025, from $64,723,000 as of December 31, 2024, a reduction of 2.6%[21]. - Cash and cash equivalents at the end of Q1 2025 were $4,758,000, down from $10,996,000 at the end of Q4 2024, a decrease of 56.7%[21]. - As of March 31, 2025, accounts receivable totaled $22.2 million, net of an allowance of $0.3 million[61]. - Inventory as of March 31, 2025, was $38,006,000, an increase from $36,567,000 as of December 31, 2024[81]. - Other current liabilities increased to $18,878,000 as of March 31, 2025, compared to $17,768,000 as of December 31, 2024[88]. - As of March 31, 2025, total other non-current liabilities amounted to $17.325 million, a decrease from $17.933 million as of December 31, 2024, reflecting a reduction of approximately 3.4%[91]. Cash Flow - The Company reported negative cash flow from operating activities of $4.8 million for the three months ended March 31, 2025, compared to $14.6 million for the same period in 2024[42]. - The net cash used in operating activities was $4.8 million for Q1 2025, compared to $14.6 million for Q1 2024[209]. - Net cash provided by investing activities was $0 for Q1 2025, down from $51.3 million in Q1 2024 due to the acquisition of ElectraMeccanica[213]. - Net cash used in financing activities was $1.5 million for Q1 2025, primarily related to short-term insurance financing and equipment lease principal payments[214]. Acquisitions and Investments - The Company acquired ElectraMeccanica Vehicles Corp. on March 26, 2024, converting each ElectraMeccanica Share into 0.0143739 of a share of the Company's Common Stock, totaling 1,766,388 shares[36]. - As of March 31, 2025, the Company's cash and cash equivalents totaled $4.8 million, reflecting the acquisition of ElectraMeccanica[42]. - The total identifiable assets acquired from ElectraMeccanica amounted to $54,630,000, while total liabilities assumed were $19,042,000, resulting in net assets acquired of $35,588,000[73]. - The acquisition of ElectraMeccanica on March 26, 2024, involved the issuance of 1,766,388 shares of Xos Common Stock, resulting in Xos stockholders owning approximately 79% of the combined entity[72]. Operational Challenges - The Company is experiencing ongoing supply chain disruptions, particularly in power electronics and harnesses, impacting its ability to source inventory[49]. - The Company has significant reliance on single-source suppliers, which poses a risk to its operations and financial condition[62]. - The company is subject to ongoing supply chain disruptions and is actively working with vendors to find alternative solutions[173]. - The company is continuing efforts to find more cost-effective vendors and sources of parts to lower overall production costs[183]. Future Outlook and Strategies - The company is focused on expanding its fleet electrification solutions and charging infrastructure to support electric vehicle fleets[33]. - The company expects future revenue growth to be supported by the increasing demand for e-commerce and last-mile delivery solutions, influenced by regulatory and consumer interest in sustainability[163][164]. - The company plans to raise additional capital through various strategies, including debt financing and equity financing, to support its operations[44]. - The company plans to continue seeking opportunities to reduce costs and cash expenditures to address liquidity and working capital needs[167]. Stock and Equity - The Company issued a convertible promissory note with a principal amount of $20.0 million, maturing on August 11, 2025, bearing an interest rate of 10.0% per annum[97][98]. - The Company entered into a Standby Equity Purchase Agreement allowing it to sell up to $125.0 million of Common Stock until February 11, 2026, with $119.4 million remaining available under the agreement as of March 31, 2025[108][113]. - The Company has a contingent obligation to issue 547,000 shares of Common Stock upon achieving certain market share price milestones, with specific tranches based on the volume-weighted average closing share price[92]. - As of March 31, 2025, the Company had 18,633,301 Public Warrants and 199,997 Private Placement Warrants outstanding, with fair values of $0.2 million and $2,000, respectively[114]. Tax and Compliance - The Company recognized stock-based compensation expense totaling approximately $1.5 million for the three months ended March 31, 2025, compared to $2.0 million for the same period in 2024[132]. - The Company's effective tax rate for the three months ended March 31, 2025, was (0.12)%, lower than the statutory tax rate of 21% due to state taxes and losses not benefited[140]. - The Company reported a net asset position in deferred income taxes at March 31, 2025, primarily due to deferred tax assets from net operating losses[143]. - The company is evaluating the impact of new accounting standards effective after December 15, 2024, which will require additional income tax disclosures[67].

Financial Performance - Xos, Inc. reported a quarterly loss of $1.26 per share, which was worse than the Zacks Consensus Estimate of a loss of $1.09, and an improvement from a loss of $1.80 per share a year ago [1] - The company posted revenues of $5.88 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 42.27%, and down from $13.16 million in the same quarter last year [2] - Over the last four quarters, Xos has surpassed consensus EPS estimates two times, but has not beaten consensus revenue estimates [2] Stock Performance - Xos shares have increased approximately 21.6% since the beginning of the year, significantly outperforming the S&P 500, which gained only 0.1% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.98 on revenues of $12.97 million, and for the current fiscal year, it is -$3.97 on revenues of $57.6 million [7] Industry Outlook - The Automotive - Domestic industry, to which Xos belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Xos stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8] Earnings Outlook - The estimate revisions trend for Xos is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] - Future earnings expectations and management's commentary during the earnings call will be crucial for determining the sustainability of the stock's price movement [3][4]

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenue of $5.9 million, down from $11.5 million in Q4 2024 and $13.2 million in Q1 2024, with 29 units delivered compared to 51 units in Q4 2024 and 62 units in Q1 2024 [24][27] - Cost of goods sold decreased to $4.7 million from $15.2 million in Q4 2024 and $10.4 million in Q1 2024 [24] - GAAP gross margin was a profit of $1.2 million or 20.6%, compared to a loss of $3.7 million or negative 32.4% in Q4 2024 and a profit of $2.8 million or 21.2% in Q1 2024 [25] - Non-GAAP gross margin was approximately $900,000 or 15%, down from $2.7 million or 23.2% in the prior quarter and a profit of $1.7 million or 12.8% in Q1 2024 [25][26] - Operating expenses for Q1 2025 were $10.5 million, down from $10.9 million in Q4 2024 and $13 million in Q1 2024 [27] - The operating loss for Q1 2025 was $9.3 million, an improvement from a loss of $14.6 million in Q4 2024 and $10.2 million in Q1 2024 [27] Business Line Data and Key Metrics Changes - The company shipped a total of 60 units in Q1 2025, including 31 additional strip chassis for UPS, but only recognized revenue for 29 units due to GAAP revenue recognition rules [24][7] - The MD XT, a new medium-duty chassis cab, was launched, targeting a total addressable market of up to 100,000 units per year in the U.S. [11][12] Market Data and Key Metrics Changes - Customer demand remains consistent, with growing interest from national fleets, while smaller regional operators are leveraging state incentive programs [8] - The company is experiencing increased visibility into near-term tariff exposure and has implemented mitigation strategies expected to take effect in the second half of the year [27] Company Strategy and Development Direction - The company is focused on three pillars: growth, liquidity, and margins, aiming to grow sales, manage cash discipline, and improve margin performance [17][18] - The MD XT is seen as a natural extension of the company's existing product line, leveraging existing technology and components to minimize costs and maximize reliability [12][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as new emissions rules, tariffs, and a tough interest rate environment, emphasizing the importance of customer trust and reliable product performance [6][7] - The company reaffirmed its full-year 2025 guidance for revenue between $50.2 million and $65.8 million, with unit deliveries expected between 320 and 420 units [29] Other Important Information - The company is actively exploring options to enhance liquidity and has made significant progress in collecting receivables, totaling $10.2 million in Q1 2025 [29] - The MD XT is currently undergoing safety certifications and is expected to ramp production by Q3 2026 [16] Q&A Session Summary Question: Can you speak about the parts commonality between your step vans and the MD XT? - The MD XT shares over 90% of the same commodity components with the step van, which reduces costs and training requirements [35][36] Question: What are potential customers saying about the MD XT? - The market for conventional chassis cab products like the MD XT can sell up to 100,000 units per year, indicating a larger market opportunity compared to the strip chassis product [40] Question: How should we think about revenue recognition for the UPS units? - The company expects a heavy concentration of revenue recognition in Q2 and Q3, with smaller orders in Q4 generally at higher margins [44] Question: Can you provide an update on the ChargeHub? - The ChargeHub has received significant interest and orders beyond just truck customers, addressing charging issues faced by many fleets [46][47]

Financial Data and Key Metrics Changes - For Q1 2025, revenue was $5.9 million, down from $11.5 million in Q4 2024 and $13.2 million in Q1 2024, with 29 units recognized compared to 51 units and 62 units in the previous quarters [24][25] - Cost of goods sold decreased to $4.7 million from $15.2 million in Q4 2024 and $10.4 million in Q1 2024 [24] - GAAP gross margin was a profit of $1.2 million or 20.6%, compared to a loss of $3.7 million in Q4 2024 and a profit of $2.8 million in Q1 2024 [25] - Non-GAAP gross margin was approximately $900,000 or 15%, down from $2.7 million in Q4 2024 but up from $1.7 million in Q1 2024 [25][26] - Operating expenses were $10.5 million, down from $10.9 million in Q4 2024 and $13 million in Q1 2024 [26] - Operating loss for Q1 2025 was $9.3 million, improved from a loss of $14.6 million in Q4 2024 and $10.2 million in Q1 2024 [27] - Cash and cash equivalents totaled $4.8 million, with free cash flow negative at $4.8 million [28][29] Business Line Data and Key Metrics Changes - The company shipped a total of 60 units in Q1 2025, including 31 additional strip chassis for UPS, but only recognized revenue for 29 units due to GAAP standards [24][7] - The MD XT, a new medium-duty chassis cab, was launched, targeting a total addressable market of up to 100,000 units per year in the U.S. [12][15] Market Data and Key Metrics Changes - Customer demand remains consistent, with growing interest from national fleets, while smaller regional operators are leveraging state incentive programs [8] - The market for conventional chassis cab products like the MD XT can sell up to 100,000 units per year, significantly larger than the strip chassis market [39] Company Strategy and Development Direction - The company aims to focus on growth, protecting margins, and managing liquidity with discipline [6][18] - Plans to reduce exposure to tariffs through reshoring and resourcing strategies [10] - The MD XT is positioned as a more affordable and reliable option compared to legacy players, which are pricing their electric chassis cabs over $300,000 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as new emissions rules, tariffs, and interest rates, emphasizing customer trust and reliable truck performance [7] - The company reaffirmed its full-year 2025 guidance for revenue between $50.2 million and $65.8 million, with unit deliveries between 320 and 420 units [29] Other Important Information - The company has made significant progress in collecting receivables, totaling $10.2 million in Q1 2025 [29] - The MD XT is still undergoing safety certifications and is targeted for production ramp-up by Q3 2026 [17] Q&A Session Summary Question: Can you speak about the parts commonality between your step vans and the MD XT? - The MD XT shares over 90% of the same commodity components with the step van, reducing costs and training requirements [35][36] Question: What are potential customers saying about the MD XT? - The market for the MD XT is larger, with several sizable fleets already interested, and it is expected to take time to ramp up orders [40] Question: How should we think about revenue recognition for the UPS units? - The margin profile for large national customers is lower, but this will be offset by other products in the portfolio, with a concentration of deliveries expected in Q2 and Q3 [42][43] Question: Can you provide an update on the ChargeHub? - There is significant interest in the ChargeHub, with orders coming from outside the truck customer base, and the company is exploring additional features for future versions [46][47]

Financial Performance - Revenues for Q1 2025 were $5.9 million, compared to $11.5 million in Q4 2024 and $13.2 million in Q1 2024[5]. - Revenues for Q1 2025 were $5,879,000, a decrease of 55.4% compared to $13,162,000 in Q1 2024[21]. - Gross profit for Q1 2025 was $1,211,000, down 56.5% from $2,788,000 in Q1 2024[21]. - Net loss for Q1 2025 was $10,186,000, compared to a net loss of $11,003,000 in Q1 2024, reflecting a 7.4% improvement[21]. - Non-GAAP operating loss for Q1 2025 was $8,076,000, an improvement from $9,338,000 in Q1 2024[22]. - Free cash flow for Q1 2025 was $(4,756,000), an improvement from $(14,619,000) in Q1 2024[22]. - Basic net loss per share for Q1 2025 was $(1.26), an improvement from $(1.80) in Q1 2024[21]. Unit Deliveries and Revenue Generation - Delivered 29 units generating $5.9 million in revenue, down from 62 units and $13.2 million in Q1 2024, while shipping a total of 60 units[4]. - The company expects 2025 revenue to range from $50.2 million to $65.8 million, with unit deliveries forecasted between 320 to 420 units[6]. Operating Expenses and Cost Management - Operating expenses were reduced by $2.6 million, a 19.6% decrease compared to Q1 2024[4]. - Total operating expenses in Q1 2025 were $10,480,000, a reduction of 19.6% from $13,031,000 in Q1 2024[21]. - Research and development expenses for Q1 2025 were $1,930,000, down 37.1% from $3,074,000 in Q1 2024[21]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $4.8 million from $47.3 million in Q1 2024[5]. - Xos anticipates improved cash flow performance and increased deliveries in Q2 2025[3]. Gross Margin and Revenue Growth Strategy - Xos achieved a positive gross margin of approximately 20% for Q1 2025[1]. - The company is focused on driving revenue growth and strengthening gross margin despite ongoing tariff headwinds[6]. Inventory Management - Inventory reserves for Q1 2025 were $(517,000), compared to $(803,000) in Q1 2024, indicating a reduction in inventory-related losses[22]. Market and Incentives - Xos continues to explore state-level vehicle incentives while facing federal tax credit uncertainties[3].

Core Insights - Xos, Inc. reported a positive gross margin of approximately 20% for Q1 2025, despite a seasonal slowdown [1] - The company experienced a reduction in cash flow due to a planned inventory buildup to fulfill current orders [3] - Xos anticipates improved liquidity in subsequent quarters as vehicle deliveries increase [3] Financial Performance - Revenues for Q1 2025 were $5.9 million, down from $13.2 million in Q1 2024, with 29 units delivered compared to 62 units in the same period last year [5][6] - Gross profit for Q1 2025 was $1.2 million, a significant improvement from a loss of $3.7 million in Q4 2024 [5] - The net loss for Q1 2025 was $10.2 million, reduced from $19.0 million in Q4 2024 [5] Operational Highlights - Xos shipped 60 vehicles in Q1 2025, including 31 stripped chassis for UPS, with revenue recognition expected in future quarters [6] - The company achieved a 19.6% reduction in operating expenses, cutting costs by $2.6 million compared to Q1 2024 [6] - Xos is focused on driving revenue growth and strengthening gross margins while managing costs effectively [9] 2025 Outlook - Xos projects revenues between $50.2 million and $65.8 million for 2025, with unit deliveries expected to range from 320 to 420 units [7] - The company aims to reduce non-GAAP operating loss to between $17.2 million and $14.0 million for the year [7] - Xos is proactively planning for 2026 and beyond to mitigate external pressures, including tariff impacts [9]

Core Viewpoint - Xos, Inc. is set to release its first quarter 2025 operating results on May 14, 2025, after U.S. market close, followed by a conference call to discuss these results [1] Group 1: Conference Call and Webcast Details - The conference call will take place on May 14, 2025, at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time [2] - Participants can access the call via a U.S. toll-free number or an international dial-in number, with instructions to join approximately ten minutes early [2] - An audio replay of the call will be available until midnight on May 14, 2025, with specific access codes provided for both U.S. and international listeners [3] Group 2: Company Overview - Xos, Inc. is a prominent technology company specializing in electric truck manufacturing and fleet services for battery-electric fleets [4] - The company focuses on medium- and heavy-duty commercial vehicles designed for last-mile and back-to-base routes, utilizing proprietary technologies for enhanced maintenance and cost-efficiency compared to internal combustion engine vehicles [4]