Xos Delivers First Quarter Results, Highlighting GAAP Margin Gains

About this update from Xos, Inc.

[{"type":"image","alt":"Xos, Inc.","displaySize":"","headline":null,"caption":"Xos, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":101,"url":"https://media.zenfs.com/en/globenewswire.com/7de267ac25ea48fd49e1502a55cc8fc5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/TAinEtAOdXuqf9iq65Jb7g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE0MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/7de267ac25ea48fd49e1502a55cc8fc5","width":300,"height":101}},"lazy":false},{"type":"text","content":"Achieved positive gross margin of approximately 20%, for the first quarter 2025","length":79,"tagName":"p"},{"type":"text","content":"LOS ANGELES, May 14, 2025 (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 first quarter ended March 31, 2025.","length":239,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights:","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Delivered 29 units and generated $5.9 million in revenue during the first quarter of 2025, compared to 62 units and $13.2 million in revenue in the first quarter of 2024. Although Xos only recognized revenue in the first quarter of 2025 for the delivery of 29 units, the Company shipped 60 units, which included an additional 31 stripped chassis to our upfitter during the period in support of our previously announced order from UPS for 193 vehicles, which we expect to be delivered to the customer and recognize revenue in subsequent quarters in 2025.","length":553,"tagName":"p"}]},{"val":[{"type":"text","content":"Achieved a substantial reduction in operating expenses, cutting operating costs by $2.6 million, a 19.6% decrease compared to Q1 2024, reflecting strong operational discipline.","length":176,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":729,"olType":false},{"type":"text","content":"Xos began 2025 with continued momentum despite a seasonal slowdown in the first quarter, as fleets across the country initiated their procurement planning for the year ahead. Xos experienced a reduction in cash flow in the first quarter of 2025, primarily driven by a planned inventory buildup designed to facilitate fulfillment of current orders on hand later in the fiscal year. We expect our l...

More updates from Xos, Inc.