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Sep 30, 2024
XOS Inc Q3 2024 Earnings Report
Delivered strong unit delivery and promising gross profit performance.
Key Takeaways
Xos, Inc. reported revenues of $15.8 million and a gross margin of 18.1% for the third quarter ended September 30, 2024. The company delivered 94 units and began serial production of Xos Hub in Tennessee.
Generated revenues of $15.8 million, up from $15.5 million last quarter and down from $16.7 million in the third quarter of 2023
Delivered 94 units, up from 90 units last quarter and down from 105 units in the third quarter of 2023
Achieved gross margins of 18.1%, up from 13.1% last quarter, and up from 11.9% in the third quarter of 2023
Began serial production in Tennessee of Xos Hub, the company’s multi-EV mobile charger units
Forward Guidance
Xos is revising its outlook for 2024. Revenue expected to be between $54.1 to $67.6 million. Non-GAAP operating loss expected to be between $42.2 to $33.7 million. Unit deliveries expected to be between 320 to 400 units.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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