May. 14 at 8:22 PM
$XOS
First Quarter Highlights:
•Xos delivered 95 units, including leases, and generated
$11.2 million in revenue in the first quarter, compared to 29 units and
$5.9 million in Q1 2025, as the Company executed its strategic focus on powertrain and hubs production.
•Gross margins improved to a record-high 38.6%, compared to 20.6% in Q1 2025. Non-GAAP gross margins also reached a record 37.8%, compared to 15.0% in Q1 2025. The increase was driven by a shift in product mix towards high-margin powertrains and hubs.
•Xos reported record-lows in operating loss and non-GAAP operating loss since going public, achieving reductions of 49.5% and 67.2% year-over-year, respectively. Operating loss improved to
$4.7 million, compared to
$9.3 million in Q1 2025, and non-GAAP operating loss of
$2.6 million in Q1 2026, compared to
$8.1 million in Q1 2025.
•Operating expenses decreased by
$1.5 million, or 14.0% year-over-year.
