Xos Q2 2025: record revenue $18.4M, highest deliveries 135 units, positive free cash flow $4.6M

Xos, Inc.

2025-Q2 EPS reported -$2.16 revenue$24,272,000

Revenue $18.4M (+19% YoY), deliveries 135 units (90 in Q2 2024); both records.
Gross margin 8.8% vs 13.1% YoY and 20.6% QoQ; product mix and inventory adjustments cited.
Operating loss -$7.1M, lowest as public company; operating expenses down $4.7M (-35% YoY).
Net cash from operating activities $4.6M, highest ever; positive free cash flow for second time.
UPS accounted for substantial portion of Q2 deliveries; FedEx ISP deployments expanded.

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