Xos, Inc. · NASDAQ:XOS
Xos — Credit Suisse 9th Annual Industrials Conference 2021
24 slides from Xos's conference presentation, Dec 1, 2021
Slide 1: Credit Suisse 9th Annual Industrials Conference
Credit Suisse 9th Annual Industrials Conference December 1, 2021
Slide 2: Disclaimer: Forward-Looking Statements
DISCLAIMER Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regardi
Slide 3: Disclaimer Continued: Non-GAAP Financial Measures
DISCLAIMER CONTINUED Non-GAAP Financial Measures The financial information in this presentation has been presented in accordance with United States generally accepted accounting principles (“GAAP”) as well as on a non-GAAP basis to supplement our consolidated financial results. Our non-GAAP financia
Slide 4: Our mission is to decarbonize transportation with electric trucks
(1) U.S. Last-Mile MD & HD Truck Sales. Based on data provided by ACT Research Commercial Vehicle Sales Forecasts, and reflects Xos assumed average selling price applied to medium-duty and 20% of heavy-duty commercial truck sales assumed to be used for last mile applications. (2) Assumes facilities
Slide 5: Investment Thesis
Investment Thesis Technology | Total Addressable Market | Team Proprietary Commercial EV Powertrain Technology ● Proprietary air-cooled, battery system designed for rigors of the commercial vehicle environment ● Improved modular battery architecture launched and in ramp-up Large Total Addressable Ma
Slide 6: Platform Vehicle Classes
PLATFORM VEHICLE CLASSES X-PLATFORM CHASSIS VEHICLES MD X-PLATFORM Class 5-6 Adaptable chassis for on-highway, pickup and delivery. HD X-PLATFORM Class 7-8 Adaptable chassis for on-highway, vocational, and severe work condition. POWERTRAIN Various Powertrain solutions for both off-highway, industria
Slide 7: Lyra Series Batteries
Lyra Series Batteries Xos reveals a new series of batteries ● Newly launched Lyra 30 and Lyra 60 batteries ● 30kWh and 60kWh models ● 52% improvement in Gravimetric Density ● 45% improvement in Volumetric Density ● Provides more compact packaging and improved range ● Builds on air cooling modular te
Slide 8: TCO Advantage Driven by Core Proprietary Technologies
TCO Advantage Driven by Core Proprietary Technologies Xos Battery System, X-Pack and Lyra 30 and Lyra 60 ● Proprietary “cut-to-length” battery architecture reduces acquisition cost by eliminating unnecessary battery capacity ● Forced air-cooling technology ensures maximum pack longevity and weight s
Slide 9: 3Q21 Updates
3Q21 Updates Product | Growth | Validation ● Xos announces launch of new products and solutions ○ Lyra Series Batteries. Began production of proprietary Lyra Series battery system, improving vehicle range. ○ The Hub. Xos announces The Hub—a mobile, free-standing fleet charging station. ● Xos signifi
Slide 10: 3Q21 Commercial Update
3Q21 Commercial Update Additional Orders and Traction from Key Customers ● FedEx Ground operators order 120 additional zero-emission electric trucks ● Leading Uniform Rental companies, including Unifirst, Cintas, and Morgan Services, purchase 13 vehicles with LOIs for up to 200 units ● Orders from l
Slide 11: Manufacturing Partners
MANUFACTURING PARTNERS Manufacturing Partners STAFFING SUPPLY CHAIN MANUFACTURING ENGINEERING FACILITY AUTOMATION ENGINEERING QUALITY MANAGEMENT ● Leading global manufacturer of frame and chassis systems for commercial vehicles generating ~$2B in annual revenue ● Contract manufacturer of commercial
Slide 12: Flex1 | Byrdstown, TN Update
Facility Focus X-Platform production with battery line addition to begin in 2022 Capacity Production capacity of 1,000 units per year Expansion Preparations underway for battery production in 2022 Ability to expand the vehicle assembly line to 5,000 units per year on multiple shifts Partnership Chas
Slide 13: Flex 2 | Monterrey, MX Update
Flex 2 | Monterrey, MX Update © Copyright Xos Inc. 2021. All rights reserved. Facility Focus X-Platform production Capacity Production capacity of 1,000 units per year on a single shift Ability to expand the line to 5,000 units per year on multiple shifts Partnership Chassis assembled in partnership
Slide 14: HQ, Los Angeles, CA Update
Production Ramp Production delays due to transition to Lyra battery pack system Challenges overcome and regular production has resumed New Automation Automated cell inspection and clip cell was delayed due to chip shortage, but is now providing parts Flexible layout and equipment for future cell and
Slide 15: Stepvan Durability Update
Key Durability Milestone Stepvan completed 4,000 miles on the durability course, simulating 200,000 miles of on-road use Testing performed at a proving grounds in Indiana, and included loaded testing over harsh surfaces such as impact bumps and cobblestone Reinforces design and engineering of Xos’ p
Slide 16: Xos Energy Solutions
New Services Launch: XES Launched Xos Energy Solutions (XES) to provide fleets with charging infrastructure and related services XES serves as an extension of our Fleet-as-a-Service strategy Xos Hub Launched a mobile charging station capable of charging five medium-duty trucks at once The Hub helps
Slide 17: Third Quarter Financial Overview
● Revenue impacted by new battery development and supply chain. ● Expense increases in G&A and R&D in line with production ramp and new product development expectations. ● Non cash income/loss from change in fair value of derivatives and earn-out liability. © Copyright Xos Inc. 2021. All rights rese
Slide 18: Third Quarter Financial Overview (cont): Balance Sheet & Other Highlights
(1) Accounts Receivable plus Inventories plus pre-paid Inventories less Accounts Payable. (2) Current portion of equipment loans payable of $151 Thousand plus Equipment loans payable, net of current portion of $876 Thousand. (3) See Non-GAAP reconciliation. Capital expenditures were $2.6 million in
Slide 19: 2021 Business Update
(1) Excludes Stock Based Compensation. ● Increase in deliveries post resumption of Lyra battery production. 2021 Business Update © Copyright Xos Inc. 2021. All rights reserved. 4Q21 E FY 21E Unit Deliveries 15-25 units 27-37 units Revenues $1.7 million - $3.0 million $3.5 million - $4.7 million Non-
Slide 20: Appendix: Financial Reports & Non-GAAP Reconciliations
APPENDIX Financial Reports & Non-GAAP Reconciliations
Slide 21: Consolidated Balance Sheet
© Copyright Xos Inc. 2021. All rights reserved. 21 (in thousands) September 30, 2021 (Unaudited) December 31, 2020 Assets Cash and cash equivalents $ 207,388 $ 10,359 Accounts receivable, net 583 408 Inventories 20,834 1,867 Prepaid expenses and other current assets 17,840 56 Total current assets 24
Slide 22: Consolidated Statements of Operations
© Copyright Xos Inc. 2021. All rights reserved. 22 Three Months Ended September 30 Nine Months Ended September 30 (in thousands, except per share data) 2021 2020 2021 2020 Revenues $ 357 $ 1,125 $ 1,746 $ 1,698 Cost of Goods Sold 418 1,161 1,675 1,639 Gross Margin (61) (36) 71 59 Operating Expenses
Slide 23: Reconciliation: Free Cash Flow and Non-GAAP Operating Loss
© Copyright Xos Inc. 2021. All rights reserved. 23 Reconciliation: Operating Cash Flow less CapEx (Free Cash Flow) Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2021 2020 2021 2020 Net cash used in operating activities $ (32,982) $ (5,809) $ (53,135) $ (9,849) Purchas
Slide 24: and Privileged, Property of Xos, Inc.
Confidential and Privileged, Property of Xos, Inc. © Copyright Xos Inc. 2021. All rights reserved.
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