Loading...
•
Sep 30, 2021
XOS Inc Q3 2021 Earnings Report
Reported financial results for the quarter ended September 30, 2021.
Key Takeaways
Xos, Inc. reported third quarter 2021 revenues of $357 thousand, a net income of $34.9 million, and cash and cash equivalents of $207.4 million. The company delivered 3 customer units during the quarter and launched the new Lyra Series of next-generation commercial vehicle battery packs.
Third quarter revenues were $357 thousand.
Net income was $34.9 million and operating loss was $14.3 million.
Cash and cash equivalents totaled $207.4 million as of September 30, 2021.
Customer unit deliveries were 3 for the third quarter.
XOS Inc
XOS Inc
Forward Guidance
Xos anticipates delivering 15-25 units and generating $1.7 million - $3.0 million in revenues for the fourth quarter of 2021. Non-GAAP operating loss is projected to be $18.0 million - $22.0 million for the fourth quarter.
Positive Outlook
- Expected unit deliveries between 15 and 25 for Q4 2021.
- Projected revenues of $1.7 million to $3.0 million for Q4 2021.
Challenges Ahead
- Anticipated Non-GAAP Operating Loss between $18.0 million and $22.0 million for Q4 2021.