XOSWW

Key Points

• Q3 2025 showed unmistakable momentum with 130 vehicles shipped (actual 140 units) generating $16.5M revenue, demand real and customers returning.
• Fulfilled the largest single order in company history, a 200-plus unit order program, working with UPS and FedEx ISPs.
• GAAP gross margin was 15.3%, operating loss reduced to $7M, the lowest since going public, and ninth consecutive quarter of positive non-GAAP gross margin.
• Amended convertible note repayment structure with Alger Mae Automotive Company, making them the largest shareholder, enhancing liquidity.
• Expanded into higher margin categories like powertrains and energy infrastructure, delivered 18 powertrains to Bluebird and received nearly 80 additional orders post-quarter end.
• Xos Hub deployments and demonstrations accelerated, showcased at RE plus, with preparation for 2026 update to expand market.
• Tennessee plant operated efficiently, production teams responded to customer requests, and engineering teams developed product improvements.

Guidance

• Reaffirmed full-year 2025 guidance: revenue between $50,200,000 and $65,800,000.
• Non-GAAP operating loss between $24,400,000 to $26,900,000.
• Unit deliveries between 320 and 420 units.

In Q3 2025, Xos shipped 130 vehicles generating $16,500,000 in revenue, with an actual total of 140 units shipped including 10 strip chassis for a major customer program. Regarding product segments, the company delivered 18 powertrain systems to Bluebird Corporation in Q3 and received nearly 80 additional powertrain orders since quarter end. The Xos Hub saw accelerated deployments and demonstrations in Q3, with interest broadening and preparation for the 2026 update to enhance power resilience, energy cost optimization, and load balancing capabilities.

Risks

• Ability to access capital when needed and continue as a going concern.
• Ability to implement business plans and identify and realize additional opportunities.
• Potential supply chain disruptions, including as a result of changes to or uncertainty around trade policies and tariffs.

Q: Craig Irwin asked about the opportunity for the Xos Hub platform, especially in the autonomous vehicle space and backup power applications.

A: Dakota Semler responded that the EV charging segment for the hub will have double-digit growth, and the power resiliency and backup power functions offer significant opportunities exceeding the EV charging market growth, targeting commercial and industrial energy cost reduction.

Q: Ted Jackson inquired about tariffs, pricing adjustment across product offering, powertrain deliveries, Hub deliveries, and margin improvement in 2026.

A: Dakota Semler and Giordano Sordoni addressed tariff mitigation efforts, powertrain orders shipping in 2026, Hub deliveries, and mentioned that margin mix is expected to shift towards higher ends of the margin spectrum in 2026 due to business mix changes