XOS Inc Q2 2024 Earnings Report
Key Takeaways
Xos, Inc. reported a revenue of $15.5 million, a 227% increase year-over-year. The company delivered 90 units, up 137% year-over-year, and achieved a gross margin of 13.1%.
Generated revenues of $15.5 million, up from $13.2 million last quarter and $4.8 million in the second quarter of 2023
Delivered 90 units, up from 62 units last quarter and 38 units in the second quarter of 2023
Achieved gross margins of 13.1%, down from 21.2% last quarter, due to product mix shift and inventory adjustments, and up from negative 78.4% in the second quarter of 2023
Announced strategic powertrain partnership with Blue Bird, a prominent school bus manufacturer leading the charge in EVs
XOS Inc
XOS Inc
Forward Guidance
Xos's outlook for 2024 includes revenue between $66.7 million and $100.4 million, non-GAAP operating loss between $48.7 million and $43.7 million, and unit deliveries between 400 and 600 units.