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Jun 30
XOS Inc Q2 2025 Earnings Report
Xos delivered a record 135 units and achieved its highest-ever quarterly revenue of $18.4 million while significantly reducing its operating loss.
Key Takeaways
Xos reached new milestones in Q2 2025, posting record revenue and unit deliveries. The company achieved positive free cash flow of $4.6 million, reduced its operating loss to the lowest level since going public, and improved cost efficiency. Despite gross margin pressure, Xos continued executing its fleet-first strategy and strengthened its position in the electric vehicle market.
Delivered a record 135 units, the highest in company history.
Revenue reached $18.4 million, up from $15.5 million in Q2 2024.
Operating loss narrowed to $7.1 million, lowest since becoming public.
Achieved positive free cash flow of $4.6 million for the quarter.
XOS Inc
XOS Inc
Forward Guidance
Xos maintained its 2025 outlook for revenue and deliveries, adjusting non-GAAP operating loss projections due to expected tariffs and product mix changes.
Positive Outlook
- Revenue guidance reaffirmed at $50.2M to $65.8M for FY 2025.
- Expected unit deliveries remain in the range of 320 to 420 units.
- Company continues to post positive free cash flow.
- Diversified growth in powertrain and mobile charging segments.
- Operational efficiency improved with cost reductions and lean execution.
Challenges Ahead
- Gross margin decreased to 8.8% from 20.6% in Q1 2025.
- Tariff-related costs expected to impact second half of 2025.
- Non-GAAP operating loss guidance increased to $26.9M–$24.4M.
- Product mix contributed to unfavorable margin shift.
- Inventory adjustments negatively affected gross profit.