NASDAQ$XOS
XOS Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported financial results for the first quarter ended March 31, 2023.
Xos, Inc. reported revenue of $4.7 million, a net loss of $24.3 million, and a non-GAAP operating loss of $18.9 million for the first quarter of 2023. The company delivered 31 units and is focused on achieving positive gross margin at a unit level by mid-2023.
- Revenue was $4.7 million, compared to $7.0 million in the quarter ended March 31, 2022.
- 31 units were delivered, compared to 58 deliveries in the quarter ended December 31, 2022.
- Net loss was $24.3 million, and the loss from operations was $20.0 million.
- The company is focused on achieving positive gross margin at a unit level by mid-2023 through strategic price increases, optimization of operations, direct material cost reduction, and continued scale of deliveries.
Headline financials
Revenue & EPS history
XOS Inc · Revenue · Quarterly
$4.7M
Revenue by segment
XOS Inc · $11.2M total across 4 segments · Q1 2026
- Powertrains & Hubs$9.12M—81.2%
- Stepvans & Vehicle Incentives$1.62M—14.4%
- Other Product Revenue$292K—2.6%
- Ancillary Revenue$197K—1.8%
Forward guidance
Xos is reiterating its outlook for 2023, expecting strong deliveries and revenue growth for the year, with deliveries weighted to the second half of the year. The company believes it has sufficient capital to fund the business through the remainder of 2023 and into 2024.
Tailwinds
- Expect strong deliveries and revenue growth for the year.
- Demand for EV stepvans and solutions remains healthy.
- Expect deliveries to be weighted to the second half of the year.
- Balance sheet is strong.
- Sufficient capital to fund the business through the remainder of 2023 and into 2024.
Headwinds
- Lack of charging infrastructure has caused some bottlenecks that are expected to continue in the near term.
- Ongoing charging infrastructure delays.
- Results may be materially affected by many factors.
- Variations may be material.
- Actual results may vary from the outlook.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-1.0%
Avg return
Earnings day
-2.8%
Avg return
5 days after
-14.6%
Avg return
30 days after
32%
7 / 22 earnings
Positive
+35.1%
Q3 2023
Best reaction
-13.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | +0.5% | — | |
| Q4 2025 | -4.2% | -14.1% | -16.1% | |
| Q3 2025 | -4.0% | -13.5% | -7.9% | |
| Q2 2025 | +10.4% | -11.5% | -31.2% | |
| Q1 2025 | -7.9% | -7.4% | -18.3% | |
| Q4 2024 | -12.5% | -10.2% | +11.6% | |
| Q3 2024 | -13.4% | -20.2% | -30.0% | |
| Q2 2024 | -0.8% | +3.9% | -8.7% | |
| Q1 2024 | +11.9% | +3.4% | -7.3% | |
| Q4 2023 | -2.3% | -1.7% | -36.1% | |
| Q3 2023 | +35.1% | +73.0% | -16.9% | |
| Q2 2023 | -9.8% | -19.5% | -26.3% | |
| Q1 2023 | +5.8% | -5.0% | -19.4% | |
| Q4 2022 | -0.5% | +12.0% | -0.4% | |
| Q3 2022 | +1.0% | -11.3% | -37.9% | |
| Q2 2022 | -7.2% | -5.8% | -23.6% | |
| Q1 2022 | -9.9% | -22.6% | +5.8% | |
| Q2 2021 | -5.7% | -3.2% | -5.0% | |
| Q4 2021 | -0.9% | +0.9% | -9.1% | |
| Q3 2021 | -6.0% | -8.5% | -31.2% | |
| Q1 2021 | +0.2% | +0.2% | +1.2% | |
| Q4 2020 | +0.6% | -0.3% | -0.3% | |
| Q3 2020 | — | — | — |
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