Earnings ·
Xos, Inc. reported financial results for the second quarter ended June 30, 2026, delivering 30 units and generating…
XOSWWXos, Inc.
Xos, Inc. reported financial results for the second quarter ended June 30, 2026, delivering 30 units and generating $4.7 million in revenue, a decline from 135 units and $18.4 million in Q2 2025. The company raised $7.6 million net of offering costs through at-the-market and registered direct offerings during the quarter. Gross margins improved to 12.1% GAAP and 7.2% non-GAAP, while operating expenses decreased by 2.1% year-over-year to $8.5 million. For the first half of 2026, Xos delivered 125 units with $16.0 million in revenue, expanding GAAP gross margin to 31.0%. The company revised its full-year 2026 outlook to project revenues between $35 and $43 million and unit deliveries between 250 and 350 units. Xos operates in the energy storage and fleet electrification solutions industry.