Xos Q3 revenue $15.8M, delivers 94 units; gross margin expands to 18.1%

Xos, Inc.

2024-Q3 EPS reported -$4.26 revenue$44,487,000

Revenue of $15.8M down 5% YoY from $16.7M but up 2% QoQ from $15.5M.
Unit deliveries of 94 vehicles, down 10% YoY from 105 and up 4% QoQ from 90.
Gross margin 18.1%, up from 13.1% QoQ and 11.9% YoY; fifth straight quarter of positive gross margins.
Began serial production of Xos Hub mobile charger; NextEra, Duke Energy, Xcel Energy deploying units.
Net loss $10.5M; operating loss $9.7M; cash & restricted cash $9.2M vs $20.7M at Q2 end.

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