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Mar 31, 2025
XOS Inc Q1 2025 Earnings Report
Xos reported a decline in revenue and deliveries in Q1 2025, while achieving improved gross margin and reduced operating expenses.
Key Takeaways
Xos, Inc. delivered 29 units and generated $5.9 million in revenue in Q1 2025, marking a decrease from the prior year. However, it reported positive GAAP gross profit and a 19.6% reduction in operating expenses, highlighting operational improvements despite macroeconomic challenges.
Delivered 29 units and generated $5.9 million in revenue, down from 62 units and $13.2 million in Q1 2024.
Gross profit reached $1.2 million, a turnaround from a loss in Q4 2024.
Operating expenses decreased by $2.6 million year-over-year, reflecting cost control.
Net loss was $10.2 million, slightly improved from the $11.0 million net loss a year ago.
Forward Guidance
Xos expects revenue of $50.2M to $65.8M and delivery of 320–420 units for the full year 2025, supported by customer orders including UPS.
Positive Outlook
- Forecast of 320 to 420 units to be delivered in 2025.
- Revenue guidance between $50.2M and $65.8M for the year.
- Operational improvements expected to continue in upcoming quarters.
- Customer demand and momentum increasing in Q2 and beyond.
- State-level vehicle incentives continue to support sales.
Challenges Ahead
- First quarter revenue and deliveries significantly declined from last year.
- Federal tax credit uncertainty remains a risk.
- Tariff headwinds continue to impact cost structures.
- Net losses and negative cash flow persisted in Q1.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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