XOS Inc

Nov 10, 2022

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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.