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Sep 30, 2022
XOS Inc Q3 2022 Earnings Report
Xos, Inc. reported third quarter 2022 results with revenue increasing by 12% quarter-over-quarter and unit deliveries increasing by 21% quarter-over-quarter.
Key Takeaways
Xos, Inc. reported a revenue of $11.0 million for the third quarter of 2022, a 12% increase compared to the previous quarter. The company delivered 88 units, a 21% increase compared to the previous quarter. Net loss was $23.3 million and loss from operations was $31.2 million for the third quarter of 2022; non-GAAP operating loss for the quarter was $26.6 million.
Revenue for the third quarter of 2022 was $11.0 million, up 12% compared to the previous quarter.
Deliveries of 88 units in the third quarter of 2022, up 21% compared to 73 units in the previous quarter.
Net loss was $23.3 million and loss from operations was $31.2 million for the third quarter of 2022; non-GAAP operating loss for the quarter was $26.6 million.
Company remains on track to achieve positive gross margin at a unit level by the end of the first half of 2023.
XOS Inc
XOS Inc
Forward Guidance
The Company is reaffirming its previously provided outlook for the second half of 2022.