Xos, Inc. ( (XOS) ) has released its Q3 earnings. Here is a breakdown of the information Xos, Inc. presented to its investors.
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Xos, Inc. is a technology company specializing in electric commercial vehicles and fleet services, focusing on battery-electric fleets for medium- and heavy-duty vehicles. In the third quarter of 2025, Xos reported a strong financial performance, delivering 130 units and generating $16.5 million in revenue. The company achieved a 15.3% gross margin and positive free cash flow for the second consecutive quarter, highlighting its commitment to operational excellence and sustainable growth.
Key financial metrics include a reduction in operating expenses by 24% year-over-year and an operating loss of $7.0 million, which is an improvement from previous quarters. Xos also strengthened its balance sheet by amending its convertible note, enhancing liquidity and extending its financial runway. The company raised $2.4 million through its at-the-market offering program, further supporting its growth initiatives.
Xos’s strategic moves, such as terminating the lease of its Mesa, Arizona facility, resulted in significant long-term savings. The company ended the quarter with $14.1 million in cash and cash equivalents, up from $8.8 million in the previous quarter, showcasing its growing financial flexibility.
Looking ahead, Xos maintains its revenue and unit delivery outlook for 2025, demonstrating confidence in its business model and operational strategy. The company continues to focus on improving unit economics and operational efficiency to drive sustained profitability and growth.