Xos delivers 105 units in Q3, first quarter with positive GAAP gross margin (8-15%)

Xos, Inc.

2023-Q3 EPS reported -$0.36 revenue$26,147,000

Q3 2023 deliveries of 105 units highest quarterly volume to date; first quarter with positive unit-level gross margins.
Preliminary GAAP gross margin estimated at 8% to 15%; unit gross margins on new 2023 stepvan +10% to 20%.
Margins driven by proprietary software, long-term battery supply agreements, and cost-efficient design.
2023 stepvan offers 30-40% TCO savings vs. comparable ICE last-mile delivery vehicles.
Acting CFO expects margins to improve and be sustained as demand for medium-duty EVs grows.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Xos, Inc. reported preliminary financial results for the third quarter of 2023.

Period: the third quarter of 2023
Result: preliminary results

Exact text from the filing

Xos Achieves Largest Quarter with Profitable Deliveries to National Fleet Customers Xos has delivered 105 units in the third quarter to multiple global fleets and parcel delivery operators. LOS ANGELES — October 18, 2023 — Xos, Inc. (NASDAQ: XOS) is pleased to announce that it has delivered 105 units to end customers in the third quarter of 2023.

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Source: SEC EDGAR

accession 0001819493-23-000241

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