Financial Data and Key Metrics Changes - The company generated $15.8 million in revenue for Q3 2024, an increase from $15.5 million in Q2 2024, with a gross margin of 18.1% compared to 13.1% in the previous quarter [5][25][26] - Operating expenses decreased to $12.6 million from $13.4 million in the prior quarter, leading to a non-GAAP operating loss of $6.6 million, improved from a loss of $9.7 million [27][28] - Cash and cash equivalents totaled $9.2 million, with negative free cash flow of $11.7 million, significantly improved from negative $26.1 million in Q2 2024 [28][29] Business Line Data and Key Metrics Changes - The company delivered 94 units in Q3 2024, a 4.4% increase from the previous quarter, with a notable ramp-up in hub product deliveries, shipping nearly 12 units [5][9][10] - The StepVan business saw a positive shift with increased strip chassis deliveries, enhancing working capital turnover [9][10] - The powertrain business delivered its first product for a Blue Bird school bus, indicating growth in the electric school bus market [9][10] Market Data and Key Metrics Changes - The company is experiencing growing momentum in customer and product diversity, with significant deliveries to major clients like Waymo and Xcel Energy [10][11][12] - The hub product is gaining traction, with increasing interest from various industries, reflecting strong demand for mobile charging solutions [12][13] Company Strategy and Development Direction - The company is focused on reducing operational expenses and improving cash flow, with measures including workforce reduction and temporary salary cuts for executives [16][29] - There is a strategic emphasis on enhancing production efficiency and cost reductions, particularly in the Tennessee facility, which is central to operations [19][20][23] - The company is adapting to potential federal changes, including tariffs on imported components, by reshoring production and diversifying supplier sources [21][22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the industry, including delays in charging infrastructure and customer pressures for competitively priced vehicles, but remains optimistic about long-term potential [33] - The company updated its revenue guidance for 2024, expecting a range of $54.1 million to $67.6 million, with a narrower non-GAAP operating loss forecast [31] Other Important Information - The backlog of delivered incentives exceeds $25 million, with efforts underway to streamline the collection process [14][30] - The company has implemented over $10,000 in cost reductions over the past year, with additional reductions planned [19] Q&A Session Summary Question: Opportunity on the drivetrain side - Management highlighted the immense opportunity in the powertrain business, leveraging intellectual property for other OEMs, with markets like mobile command centers and school buses showing strong growth potential [36][37][39] Question: Inventory clarification - The company builds products to order, with raw materials accounting for about 70% of total inventory, and aims to optimize inventory flows [43][45] Question: Working capital improvements - Management acknowledged the need to reduce inventory turns and improve accounts receivable collection, anticipating significant progress in Q4 [56][60] Question: Convertible note and balance sheet - The convertible note has moved to current liabilities, with ongoing discussions about future plans as it matures in Q3 2025 [63][64] Question: Sale of energy credits - The company does not anticipate regular transactions of energy credits but expects periodic opportunities that could enhance margins [66][67]

Group 1: Earnings Performance - Xos, Inc. reported a quarterly loss of $1.32 per share, which was better than the Zacks Consensus Estimate of a loss of $1.39, and an improvement from a loss of $2.40 per share a year ago, resulting in an earnings surprise of 5.04% [1] - The company has surpassed consensus EPS estimates for the last four quarters, but reported revenues of $15.79 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 28.67% and down from $16.7 million year-over-year [2] Group 2: Stock Performance and Outlook - Xos shares have declined approximately 35.6% since the beginning of the year, contrasting with the S&P 500's gain of 25.5% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] Group 3: Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is -$1.34 on revenues of $25.16 million, and for the current fiscal year, it is -$5.37 on revenues of $75.99 million [7] - The Automotive - Domestic industry, to which Xos belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

LOS ANGELES, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS) (“Xos” or the “Company”), a leading electric truck manufacturer and fleet services provider, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights: Generated revenues of $15.8 million, up from $15.5 million last quarter and down from $16.7 million in the third quarter of 2023Delivered 94 units, up from 90 units last quarter and down from 105 units in the third quarter of 2023Achiev ...

LOS ANGELES, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it is scheduling the release of its third quarter 2024 operating results for Wednesday, November 13, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time:Wedn ...

LOS ANGELES, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading manufacturer of fully electric commercial vehicles, today announced the launch of the 2025 Xos SV Stepvan, featuring two new wheelbase options: 158" and 208". These additions complement the existing 178" wheelbase, offering fleet operators enhanced flexibility to meet their specific operational needs. The introduction of the 158" and 208" wheelbases reflects Xos' commitment to delivering solutions that meet the evolving needs ...

XPENG launches its first major synchronized global OTA upgrade for eligible users across Europe, the Middle East, Southeast Asia, and other markets During the 28-day beta, global users engaged enthusiastically, and nearly a hundred feedback items were integrated into the final OTA update. Additionally, there's a plan to roll out at least four OTA updates in the forthcoming year. XPENG hosted its inaugural global user OTA salon in Denmark, focusing on customer feedback and advancing smart mobility on a world ...

Xos, Inc. (XOS) came out with a quarterly loss of $1.23 per share versus the Zacks Consensus Estimate of a loss of $1.94. This compares to loss of $4.20 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 36.60%. A quarter ago, it was expected that this company would post a loss of $2.19 per share when it actually produced a loss of $1.80, delivering a surprise of 17.81%. Over the last four quarters, the company has surpassed con ...

LOS ANGELES, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it is rescheduling the release of its second quarter 2024 operating results to Tuesday, August 13, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time: Tuesd ...

Core Insights - XPENG Motors has launched the Tianji XOS 5.2, an advanced in-car operating system featuring 484 upgrades, marking a significant advancement in AI technology for smart driving and smart cockpit functionalities [3][4][18] - The company has accelerated its Go Global 2.0 strategy, entering 30 countries and regions, and has achieved the highest export volume among Chinese pure electric brands for mid-to-high-end models in the first half of 2024 [2][4] - XPENG's XNGP system has transitioned to nationwide availability, eliminating reliance on HD maps and enabling smart driving across all cities, routes, and road conditions [10][20][21] Product and Technology Developments - The Tianji XOS 5.2 integrates AI technology into both smart cockpit and smart driving, enhancing user experience with features like remote voice control, gesture control, and customizable dashboard themes [19][18] - XPENG has achieved a rapid OTA update cycle, with one version iteration every two days and five full-scale updates within 70 days since the global launch of Tianji XOS [7][17] - The XNGP system has been tested in over 2,595 cities with a cumulative mileage exceeding 7.56 million km, showcasing its capability to adapt to complex driving scenarios [21][11] Market Position and Strategy - XPENG has positioned itself as a leader among Chinese smart electric vehicle brands, focusing on technology-driven mobility solutions for tech-savvy consumers [15][17] - The company aims to enhance its smart driving capabilities further by reducing user safety interventions and improving overall user experience by the end of 2025 [12][22] - XPENG's new S5 liquid-cooled ultra-fast charging station, set to launch in Q3 2024, will offer a maximum charging speed of "adding 1 km of range per second," enhancing the convenience of electric vehicle charging [13]

LOS ANGELES, July 11, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet services provider, announced it will release its second quarter 2024 operating results on Monday, August 12, 2024 after the close of the U.S. financial markets. Management will host a conference call to discuss these financial results at 4:30 p.m. Eastern Daylight Time / 1:30 p.m. Pacific Daylight Time that same day. Conference Call and Webcast Details Date / Time: Monday, August 12, 2024, ...