Xos Q1 revenue $4.7M, net loss $24.3M; CFO Kingsley Afemikhe resigns

Xos, Inc.

Revenue of $4.7M in Q1 2023, down from $7.0M in Q1 2022; 31 units delivered.
Net loss $24.3M, operating loss $20.0M; non-GAAP operating loss $18.9M.
Reaffirms FY 2023 guidance; targeting positive gross margin at unit level by mid-2023.
CFO Kingsley Afemikhe to resign effective May 26, 2023; not due to disagreement.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Kingsley Afemikhe

Chief Financial Officer

XOS · Xos, Inc.

Effective: 2023-05-26
Filed: May 10, 2023, 7:59 PM ET

On May 6, 2023, Kingsley Afemikhe notified the Company of his intention to resign from his position as Chief Financial Officer of the Company, effective on or about May 26, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Xos, Inc. reported three months ended March 31, 2023 results: revenue $4.7 million, net income $24.3 million. Guidance reaffirmed.

Period: three months ended March 31, 2023
Revenue: $4.7 million
Net income: $24.3 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

electric truck manufacturer and fleet services provider, today reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights: • Revenue of $4.7 million, compared to $7.0 million in the quarter ended March 31, 2022. • Deliveries of 31 units, compared to 58 deliveries in the quarter ended December 31, 2022 to leading companies

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kingsley Afemikhe resigned as Chief Financial Officer at Xos, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On May 6, 2023, Kingsley Afemikhe notified the Company of his intention to resign from his position as Chief Financial Officer of the Company, effective on or about May 26, 2023.

View on SEC.gov

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Xos, Inc. filing history →

Source: SEC EDGAR

accession 0001819493-23-000107

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