Xos, Inc.
Business
Xos, Inc. manufactures and sells battery-electric commercial vehicles, mobile charging and energy storage systems, and powertrain solutions for medium- and heavy-duty commercial applications. The company produces Class 5 and 6 electric stepvans and strip chassis for parcel delivery, armored transport, and linen distribution; the Xos Hub mobile charging platform for fleet and infrastructure charging; and Powered by Xos powertrains for school buses and specialty vehicles. Products are sold directly to national fleet operators and small-to-medium regional fleets, supported by third-party service networks across North America and proprietary fleet management software.
Summary from 10-K filed 2026-03-30
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 46 | 56 | 45 | 36 | 5 | |
| Cost of goods sold | 43 | 52 | 46 | 66 | 7 | |
| Gross profit | 3 | 4 | −1 | −30 | −2 | |
| General and administrative | 25 | 35 | 38 | 41 | 27 | |
| Research and development | 8 | 11 | 20 | 31 | 20 | |
| Sales and marketing | 3 | 4 | 6 | 10 | 4 | |
| Total operating expenses | 36 | 50 | 64 | 81 | 51 | |
| Loss from operations | −33 | −46 | −65 | −111 | −53 | |
| Gain on operating lease termination | 10 | 0 | — | — | — | |
| Other expense, net | −2 | −5 | −12 | −5 | 38,000 | |
| Change in fair value of derivative instruments | 48,000 | 274,000 | 671,000 | 14 | 18 | |
| Change in fair value of earn-out shares liability | 0 | 39,000 | 500,000 | 29 | 73 | |
| Loss before provision for income taxes | −25 | −50 | −76 | −73 | 23 | |
| Provision for income taxes | 23,000 | 37,000 | 21,000 | 8,000 | 2,000 | |
| Net loss | −25 | −50 | −76 | −73 | 23 | |
| Basic (in dollars per share) | −2.71 | −6.69 | −13.11 | −13.31 | 0.22 | |
| Diluted (in dollar per share) | −2.71 | −6.69 | −13.11 | −13.32 | 0.22 | |
| Basic (in shares) | 9 | 8 | 6 | 6 | 106 | |
| Diluted (in shares) | 9 | 8 | 6 | 6 | 108 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 14 | 11 | 12 | 36 | 16 | |
| Accounts receivable, net | 6 | 27 | 15 | 8 | 3 | |
| Inventories | 25 | 37 | 38 | 58 | 31 | |
| Prepaid expenses and other current assets | 5 | 8 | 7 | 8 | 18 | |
| Total current assets | 50 | 82 | 72 | 163 | 166 | |
| Property and equipment, net | 4 | 6 | 15 | 19 | 7 | |
| Operating lease right-of-use assets, net | 2 | 3 | 5 | 7 | 0 | |
| Other non-current assets | 5 | 7 | 2 | 2 | 506,000 | |
| Total assets | 60 | 98 | 94 | 190 | 229 | |
| Accounts payable | 2 | 9 | 3 | 3 | 10 | |
| Convertible debt, current | 7 | 20 | 0 | — | — | |
| Other current liabilities | 15 | 18 | 17 | 16 | 6 | |
| Total current liabilities | 24 | 47 | 20 | 46 | 16 | |
| Common stock warrant liability | 73,000 | 121,000 | 395,000 | 661,000 | 7 | |
| Other non-current liabilities | 1 | 18 | 9 | 11 | 2 | |
| Convertible debt, non-current | 12 | 0 | 20 | 20 | 0 | |
| Total liabilities | 37 | 65 | 48 | 78 | 54 | |
| Commitments and contingencies (Note 15) | — | — | — | — | — | |
| Common Stock $0.0001 par value, authorized 1,000,000 shares, 11,403 and 8,046 shares issued and outstanding at December 31, 2025 and 2024, respectively | 1,000 | 1,000 | 1,000 | 1,000 | 16,000 | |
| Preferred Stock $0.0001 par value, authorized 10,000 shares, 0 shares issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 252 | 237 | 198 | 190 | 179 | |
| Accumulated deficit | −229 | −203 | −153 | −77 | −4 | |
| Total stockholders equity | 23 | 34 | 45 | 112 | 174 | |
| Total liabilities and stockholders equity | 60 | 98 | 94 | 190 | 229 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 2 | 3 | 3 | 2 | 736,000 | |
| Amortization of right-of-use assets | 2 | 2 | 2 | 2 | 0 | |
| Amortization of debt discounts and issuance costs | 30,000 | 50,000 | 6 | 3 | 0 | |
| Amortization of insurance premiums | 2 | 3 | 4 | 1 | 0 | |
| Inventory reserves | −263,000 | 3 | — | — | — | |
| Impairment of property and equipment and assets held-for-sale | 564,000 | 5 | 2 | — | — | |
| Stock-based compensation expense | 7 | 8 | 8 | 5 | 2 | |
| Bad debt expense | 2,000 | 962,000 | 78,000 | — | — | |
| Other non-cash items | 1 | −148,000 | 56,000 | 1 | 364,000 | |
| Accounts receivable | 21 | −13 | −7 | −5 | −3 | |
| Inventories | 11 | −2 | 22 | −31 | −30 | |
| Prepaid expenses and other current assets | −501,000 | −2 | −4 | 6 | −18 | |
| Other assets | 907,000 | −3 | −739,000 | −1 | −506,000 | |
| Accounts payable | −6 | 5 | −133,000 | −7 | 9 | |
| Other liabilities | −148,000 | −10 | 5 | — | — | |
| Net cash provided by (used in) operating activities | 5 | −49 | −39 | −128 | −89 | |
| Proceeds from the disposal of assets held for sale | 61,000 | 125,000 | 1 | 0 | — | |
| Purchases of property and equipment | 0 | −304,000 | −1 | −14 | −5 | |
| Net cash acquired in acquisition of ElectraMeccanica Vehicles Corp | 0 | 51 | 0 | — | — | |
| Net cash provided by investing activities | 61,000 | 51 | 51 | 83 | −155 | |
| Principal payment for equipment leases | −2 | −2 | −3 | −1 | −444,000 | |
| Proceeds from short-term insurance financing note | 3 | 3 | 4 | 4 | 0 | |
| Payment for short-term insurance financing note | −3 | −3 | −5 | −2 | 0 | |
| Payments on convertible notes | −2 | 0 | −33 | 0 | — | |
| Stock option exercises | 0 | 10,000 | 8,000 | 6,000 | 11,000 | |
| Taxes paid related to net share settlement of stock-based awards | −1 | −1 | −1 | −449,000 | −335,000 | |
| Proceeds from sale and issuance of common stock | 2 | 47,000 | 1 | 4 | 0 | |
| Net cash used in financing activities | −2 | −3 | −38 | 65 | 253 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 3 | −644,000 | −27 | 19 | 9 | |
| Cash paid for income taxes | 51,000 | 17,000 | 0 | — | — | |
| Operating lease termination | −10 | 0 | — | — | — | |
| Issuance of common stock for equipment lease termination | −200,000 | 0 | — | — | — | |
| Settlement of accrued interest with shares of Xos common stock | −6 | 0 | — | — | — | |
| Purchase of property and equipment in accounts payable | −30,000 | −35,000 | 7,000 | 42,000 | — | |
| Net assets acquired in acquisition of ElectraMeccanica Vehicles Corp. | 0 | 55 | 0 | — | — | |
| Xos common stock issued in exchange for ElectraMeccanica Vehicles Corp. | 0 | −32 | 0 | 0 | 2 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Xos, Inc.'s CIK number?
Xos, Inc.'s SEC CIK number is 0001819493 (1819493). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Xos, Inc.'s SEC filings?
All of Xos, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Xos, Inc. last report earnings?
Xos, Inc. (XOS) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001819493-26-000043). This is Xos, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Xos, Inc.'s most recent earnings 8-K?
Xos, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001819493-26-000043. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Xos, Inc.'s latest earnings 8-K →
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