Financial Performance - Revenues for Q1 2025 were 5.9million,comparedto11.5 million in Q4 2024 and 13.2millioninQ12024[5].−RevenuesforQ12025were5,879,000, a decrease of 55.4% compared to 13,162,000inQ12024[21].−GrossprofitforQ12025was1,211,000, down 56.5% from 2,788,000inQ12024[21].−NetlossforQ12025was10,186,000, compared to a net loss of 11,003,000inQ12024,reflectinga7.48,076,000, an improvement from 9,338,000inQ12024[22].−FreecashflowforQ12025was(4,756,000), an improvement from (14,619,000)inQ12024[22].−BasicnetlosspershareforQ12025was(1.26), an improvement from (1.80)inQ12024[21].UnitDeliveriesandRevenueGeneration−Delivered29unitsgenerating5.9 million in revenue, down from 62 units and 13.2millioninQ12024,whileshippingatotalof60units[4].−Thecompanyexpects2025revenuetorangefrom50.2 million to 65.8million,withunitdeliveriesforecastedbetween320to420units[6].OperatingExpensesandCostManagement−Operatingexpenseswerereducedby2.6 million, a 19.6% decrease compared to Q1 2024[4]. - Total operating expenses in Q1 2025 were 10,480,000,areductionof19.613,031,000 in Q1 2024[21]. - Research and development expenses for Q1 2025 were 1,930,000,down37.13,074,000 in Q1 2024[21]. Cash Flow and Liquidity - Cash and cash equivalents decreased to 4.8millionfrom47.3 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),comparedto(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].
Xos(XOS)2025-05-14 20:16