Xos reports 2022 revenue $36.4M (up 6x YoY), net loss $73.3M; expects gross margin positive units by Q2 2023

Xos, Inc.

Revenue $36.4M in 2022 vs $5.0M in 2021; deliveries 275 units vs 44.
Gross loss $30.0M; net loss $73.3M vs net income $23.4M in 2021.
Non-GAAP operating loss $92.5M; cash and equivalents $89.3M (down from $168.7M).
Expects to begin delivering gross margin positive units in Q2 2023.
Subsequent to year end: 150-vehicle order from Loomis; introduced Next-Gen 2023 Stepvan.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Xos, Inc. reported financial results for fourth quarter and year ended December 31, 2022.

Period: fourth quarter and year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 29, 2023, Xos, Inc. (the “Company”) issued a press release announcing its financial position as of December 31, 2022, results of operations for the three months and year ended December 31, 2022 and other related information.

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Source: SEC EDGAR

accession 0001819493-23-000062

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