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Xos Hits New Milestones in Q2 2025 with Highest Revenue and Deliveries in the Company's History
XosXos(US:XOS) Globenewswireยท2025-08-13 20:03

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].