XOS Overview

Management Highlights: Xos, Inc. reported a milestone quarter with 130 vehicle shipments generating $16.5 million in revenue, a record low operating loss of $7 million, and a GAAP gross margin of 15.3%. CEO Dakota Semler emphasized strong customer relationships, particularly with UPS and FedEx, and a strategic restructuring with Aljomaih Automotive Company.

Financial Performance: The company experienced a decline in revenue from the previous quarter but improved gross margins and positive free cash flow of $3.1 million. Xos ended the quarter with $14.1 million in cash, and inventory decreased to $25.2 million, indicating better liquidity management.

Outlook and Guidance: Xos reaffirmed its full-year 2025 guidance for revenue between $50.2 million and $65.8 million, with unit deliveries projected between 320 and 420 units. Management is focused on expanding higher-margin product lines and capital strategies to support growth into 2026.

Risks and Strategic Focus: Key risks include ongoing tariff changes and supply chain volatility, with management implementing strategies like reshoring and supplier collaboration. The company is also expanding its focus on higher-margin products, including powertrains and energy infrastructure, while maintaining confidence in its operational execution and financial trajectory.

Upcoming Financial Results: Xos, Inc. will release its third quarter 2025 operating results on November 13, 2025, after U.S. market close, followed by a conference call at 4:30 p.m. ET.

Conference Call Details: Interested parties can join the call via U.S. toll-free number 1-833-816-1411 or international number 1-412-317-0507, with a replay available after the call.

Company Overview: Xos, Inc. specializes in electric truck manufacturing and fleet services, focusing on battery-electric vehicles designed for medium- and heavy-duty commercial use.

Forward-Looking Statements: The press release includes cautionary statements about future projections and risks that could affect Xos's performance, emphasizing the uncertainties in the electric vehicle industry.

HVIP Program Reopening: The Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) in California is reopening, offering incentives of $85,000 to $160,000 per Class 6 vehicle for fleets, with funding available on a first-come, first-served basis.

Key Requirements and Support: Fleets must adhere to specific requirements, including 90-day check-ins and voucher renewals, while Xos provides support in managing the application process and ensuring compliance to secure funding efficiently.

Appointment of John F Smith: Xos, Inc. has appointed John F Smith to its Board of Directors, increasing the board size from eight to nine members, effective August 18, 2025.

Mr. Smith's Background: He is the Principal of Eagle Advisors LLC and has extensive experience in corporate governance, having served on various boards and as a former Group Vice President at General Motors.

Xos's Strategic Growth: CEO Dakota Semler highlighted Mr. Smith's expertise in OEM strategy and supply-chain leadership as crucial for scaling production and expanding partnerships in the medium-duty electric vehicle market.

Company Overview: Xos, Inc. specializes in manufacturing medium-duty battery-electric vehicles and mobile energy solutions, aiming to support fleets in transitioning to zero-emission operations.