Xos, Inc.
- Open
- 3.09
- Day high
- 3.19
- Day low
- 2.97
- Prev close
- 3.10
- Volume
- 264K
- Mkt cap
- $43M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.9
- P/S
- 1.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$438K over the last 3 months (0 open-market buys, 11 sales)
- 🏛Institutions accumulating (13F)
Xos, Inc. (XOS) is a Industrials company listed on NASDAQ. The stock is up 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 11 sales (SEC Form 4).
Xos, Inc. (XOS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
XOS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 13, 2026 | $-0.53 | $-0.55 | -3.8% | $5M | -66.9% |
| May 14, 2026 | $-0.72 | $-0.43 | +40.3% | $11M | +80.3% |
| Mar 26, 2026 | $-0.60 | $-0.86 | -43.3% | $5M | -54.6% |
| Nov 13, 2025 | $-0.73 | $0.22 | +130.1% | $17M | +43.5% |
| Aug 13, 2025 | $-1.06 | $-0.91 | +14.2% | $18M | +1.9% |
| Mar 28, 2025 | $-1.13 | $-2.36 | -108.8% | $11M | -35.5% |
| May 15, 2024 | $-2.19 | $-1.80 | +17.8% | $13M | -16.3% |
| Mar 21, 2024 | $-2.40 | $-2.33 | +2.9% | $18M | +16.9% |
| Nov 9, 2023 | $-3.00 | $-2.40 | +20.0% | $17M | -4.2% |
| Aug 10, 2023 | $-3.30 | $-4.20 | -27.3% | $5M | -55.6% |
| Mar 8, 2023 | — | $-2.65 | — | $11M | — |
| May 5, 2022 | $-3.60 | $-3.90 | -8.3% | $3M | -37.4% |
XOS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 27, 2026 | Richardson Michael Pauldirector | Sell | 3,118 | $2.15 |
| Aug 27, 2026 | Richardson Michael Pauldirector | Sell | 3,119 | $2.31 |
| Aug 27, 2026 | Yake Alicedirector | Sell | 2,500 | $2.30 |
| Aug 27, 2026 | OSTERMANN DIETMARdirector | Sell | 4,158 | $2.16 |
| Aug 27, 2026 | OSTERMANN DIETMARdirector | Sell | 4,159 | $2.30 |
| Aug 24, 2026 | OSTERMANN DIETMARdirector | Sell | 10,000 | $3.49 |
| Aug 24, 2026 | Sordoni Giordanodirector, officer: Chief Operating Officer | Sell | 49,370 | $4.00 |
| Aug 20, 2026 | Bernstein Stuart N.director | Sell | 30,000 | $4.19 |
| Aug 12, 2026 | Pogosyan Lianaofficer: Chief Financial Officer | Tax | 3,163 | $2.70 |
| Aug 12, 2026 | Semler Dakotadirector, officer: Chief Executive Officer | Tax | 14,538 | $2.70 |
| Aug 12, 2026 | Sordoni Giordanodirector, officer: Chief Operating Officer | Tax | 13,663 | $2.70 |
| Jul 14, 2026 | Smith John F.director | Grant | 60,584 | — |
| Jul 14, 2026 | Semler Dakotadirector, officer: Chief Executive Officer | Tax | 14,538 | $2.47 |
| Jul 14, 2026 | RAPP EDWARD Jdirector | Grant | 60,584 | — |
| Jul 14, 2026 | RAPP EDWARD Jdirector | Grant | 2,670 | — |
Source: XOS SEC Form 4 filings, latest Aug 27, 2026. For informational purposes only — not investment advice.
See the full XOS insider & 13F page →Xos, Inc. company profile
Overview
Xos, Inc. (NASDAQ:XOS) is a Los Angeles-based mobility solutions company that manufactures and sells battery-electric commercial vehicles. Founded in 2020, the company went public through a SPAC merger in December 2020. Xos specializes in electric commercial vehicles, particularly step vans used for last-mile delivery, along with charging infrastructure and powertrain solutions. The company operates manufacturing facilities in Tennessee and has positioned itself as a provider of comprehensive fleet electrification solutions for commercial customers.
Business
Xos operates in the commercial electric vehicle industry, which is experiencing rapid growth driven by environmental regulations and corporate sustainability initiatives. The company's core business revolves around three main product segments: **StepVan Chassis (Primary Revenue Driver - approximately 70-80% of revenue):** These are electric commercial delivery vehicles designed for last-mile logistics. Step vans are the boxy trucks commonly used by companies like UPS, FedEx, and other delivery services. Xos manufactures the chassis (the vehicle's frame and drivetrain) which customers then outfit with cargo bodies. The company offers multiple wheelbase configurations, including a 208-inch variant for larger cargo needs. **Powertrain Solutions (Growing Segment - targeting 10-25% of future revenue):** Xos sells electric powertrains - the combination of electric motors, batteries, and control systems - to other vehicle manufacturers. This B2B segment includes partnerships with companies like Blue Bird (school buses) and Winnebago, allowing these manufacturers to electrify their existing vehicle platforms without developing their own electric technology. **Xos Hub Charging Infrastructure (Emerging High-Margin Segment):** The Hub is a mobile charging solution designed to address infrastructure gaps that often delay commercial fleet electrification. These units can charge multiple vehicles simultaneously and are particularly valuable for fleets that lack permanent charging infrastructure. Each Hub can support approximately 8 vehicles and represents a high-margin product with significant recurring service potential. The commercial electric vehicle market is driven by increasingly stringent emissions regulations, such as California's Advanced Clean Fleet Rule, and federal incentives including up to $40,000 in tax credits through the Inflation Reduction Act.
Revenue model
Xos generates revenue through direct product sales across its three business segments. The company's primary customers are commercial fleet operators, vehicle manufacturers, and government agencies. **Revenue Streams:** The StepVan business generates revenue through chassis sales to delivery companies and their contractors, with major customers including UPS contractors and FedEx Ground independent service providers. Average selling prices have increased approximately 20% as the company has implemented strategic pricing to improve margins. The powertrain segment operates on a B2B model, selling complete electric drivetrain systems to OEM partners. The Hub charging business combines equipment sales with potential ongoing service contracts. **Margin Dynamics:** Several factors significantly impact Xos's profitability. **Positive margin drivers** include economies of scale as production volumes increase, product mix optimization toward higher-margin Hub and powertrain products, cost reduction initiatives that have achieved $10,000 in savings per vehicle over 12 months, and premium pricing supported by federal tax incentives. **Negative margin pressures** come from tariffs on imported components (potentially increasing costs by 10-30%), intense competition in the commercial EV space, supply chain disruptions, and the capital-intensive nature of vehicle manufacturing that requires significant upfront investment before achieving scale efficiencies. The company has achieved positive gross margins for seven consecutive quarters as of Q1 2025, with non-GAAP gross margins reaching 23.2% in Q4 2024. However, the business remains operationally unprofitable as it scales production and invests in product development.
Competitive moat
Xos operates in a highly competitive and rapidly evolving market with limited sustainable competitive advantages. The company's primary defensive positions include established relationships with major logistics customers like UPS and FedEx Ground contractors, which provide some customer stickiness due to the complexity of fleet transitions. The company's integrated approach, offering vehicles, charging infrastructure, and service support, creates some differentiation in a market where many competitors focus on single solutions. However, Xos faces significant competitive threats from multiple directions. **Large automotive manufacturers** like Ford, GM, and Stellantis are rapidly entering the commercial EV space with substantially greater resources and manufacturing scale. **Specialized commercial EV companies** such as Rivian's commercial division and BrightDrop compete directly for the same customers. **Tesla's Semi and Cybertruck** programs target overlapping market segments with superior brand recognition and financial resources. The company's moat is relatively weak due to the commoditized nature of commercial vehicles, where customers primarily focus on total cost of ownership rather than brand loyalty. The electric vehicle powertrain technology is becoming increasingly standardized, reducing technological differentiation. Xos's small scale (delivering only 320-420 units projected for 2025) puts it at a significant disadvantage compared to established manufacturers who can achieve much lower per-unit costs. The company's survival likely depends on either achieving rapid scale, finding a strategic acquirer, or carving out profitable niche markets before larger competitors dominate the space.
Risks & safety
**Overall Assessment:** Xos presents significant financial risk with limited margin of safety, operating as a cash-burning startup in a capital-intensive industry. **Liquidity and Solvency Risk:** • Cash position of only $4.8 million as of Q1 2025, down from $11.0 million in Q4 2024 • Negative free cash flow of $49.1 million for FY 2024 • Current ratio of 1.61, providing minimal working capital cushion • Debt-to-equity ratio of 0.0 (Q1 2025), indicating low leverage but also limited access to debt financing • Convertible note with Aljomaih maturing Q3 2025 requiring refinancing or repayment **Valuation Metrics:** • Trading at 0.98x book value, suggesting market skepticism about asset values • Negative EBITDA makes traditional valuation metrics meaningless • Enterprise value reflects distressed valuation due to ongoing losses **Other Considerations:** • $25 million in receivables from government incentives provides some asset backing • Inventory of $42.4 million (70% raw materials) represents both asset value and obsolescence risk • Minimal tangible book value relative to ongoing cash burn rate suggests potential dilution risk for equity holders
Recent development
Over the past few years, Xos has undergone significant strategic evolution from a pure-play step van manufacturer to a diversified commercial EV solutions provider. **Product Portfolio Expansion** has been a key focus, with the company launching the MDXT medium-duty chassis cab in 2025, targeting a much larger addressable market of up to 100,000 units annually with 90% parts commonality with existing platforms. The powertrain business has emerged as a strategic growth driver, with partnerships established with Blue Bird for school buses and Winnebago for recreational vehicles, targeting 10-25% of future revenue. **Manufacturing and Operational Improvements** have centered around the Tennessee facility, with the company achieving seven consecutive quarters of positive gross margins through cost reduction initiatives totaling $10,000 per vehicle. The second-generation Xos Hub charging solution has been launched with production capacity reaching 2 units per week, addressing critical infrastructure gaps that often delay fleet electrification projects. **Strategic Partnerships and Customer Diversification** have expanded beyond the original UPS and FedEx Ground contractor base. Major recent wins include nearly 200 strip chassis for UPS, 20 Hub units for Caltrans, and the first production order of 20 Blue Bird powertrains. The company has also begun exploring dealer partnerships to improve inventory management and market reach. **Financial Discipline Initiatives** have included workforce reductions, temporary executive salary cuts, and aggressive working capital management as the company navigates a challenging funding environment while preparing for potential tariff impacts on component costs.
XOS company profile · for informational purposes only — not investment advice.
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