NASDAQ$XOS
XOS Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Xos Inc's revenue increased driven by higher deliveries, but experienced a net loss and operating loss during the quarter.
Xos, Inc. reported a ~40% increase in revenue compared to the previous quarter, driven by increased deliveries. The company secured additional financing of $55 million in convertible securities. However, the company experienced a net loss of $9.5 million and an operating loss of $27.8 million for the quarter.
- Revenue for the second quarter of 2022 was $9.8 million, up ~40% compared to the previous quarter.
- Sequential quarterly growth of 30% in unit deliveries with 73 units delivered in the second quarter compared to 56 units in the previous quarter.
- Net loss was $9.5 million and loss from operations was $27.8 million for the three months ended June 30, 2022; Non-GAAP operating loss for the quarter was $25.8 million.
- Entered key strategic partnerships, including Allison Transmission to produce a next generation purpose built e-axle and Thermo King to co-develop an electric refrigeration technology built on the Xos platform.
Headline financials
Revenue & EPS history
XOS Inc · Revenue · Quarterly
$9.77M
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
The Company expects revenue between $18.75 to $25.60 million, deliveries between 150 to 200 units and Non-GAAP Operating Loss between $43 to $52 million for the second half of 2022.
Tailwinds
- Unit deliveries and revenue met our outlook for the quarter as we continue to see strong demand for our products from both new and existing customers.
- We ended the quarter with a solid balance sheet that allows us to strategically use our cash reserves to scale our manufacturing capabilities.
- Our recent convertible security financings highlight our continued access to capital as we ramp deliveries.
- As we scale, we believe other forms of financing - such as asset backed debt financing - will become available.
- Xos benefits from a flexible and variable cost structure, and has taken steps in Q3 to focus operations on deliveries of key products.
Headwinds
- This outlook assumes that no business acquisitions, investments, restructurings, or legal settlements are concluded in the quarter.
- The results are based on assumptions that are believed to be reasonable as of this date, but may be materially affected by many factors, as discussed below in “Forward-Looking Statements”.
- Actual results may vary from the outlook above and the variations may be material.
- The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
- Cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’ vehicle chassis and battery system
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2022
-1.0%
Avg return
Earnings day
+4.5%
Avg return
5 days after
-10.2%
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 |
|---|---|---|---|---|
| Q4 2025 | -4.2% | +146.6% | — | |
| Q1 2026 | -1.0% | +0.5% | +77.3% | |
| 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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