Xos Q1 revenue down 55% to $5.9M; positive GAAP gross margin of 20%

Xos, Inc.

2025-Q1 EPS reported -$1.26 revenue$5,879,000

Delivered 29 units ($5.9M) vs 62 units ($13.2M) in Q1 2024; shipped 60 units including 31 for UPS order.
GAAP gross profit turned positive at $1.2M (20% margin) compared to a loss in Q4 2024.
Operating expenses cut $2.6M (19.6%) YoY; net loss narrowed slightly to $10.2M from $11.0M.
Cash and equivalents fell to $4.8M from $47.3M a year ago; inventory built to $38.0M for order fulfillment.
Management expects liquidity to improve in Q2 from increased deliveries; UPS 193-vehicle order progressing.

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