XOS (NASDAQ:XOS) Issues Earnings Results

XOS (NASDAQ:XOS) released its quarterly earnings results on Thursday. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.26), FiscalAI reports. The business had revenue of $5.22 million during the quarter, compared to the consensus estimate of $11.50 million. XOS had a negative return on equity of 102.38% and a negative net margin of 55.05%.

Here are the key takeaways from XOS’s conference call:

• Xos reported a structural turnaround in 2025, generating $5.4M of positive free cash flow (vs -$49.1M in 2024), $46M revenue on 328 units, and a narrowed operating loss of $33.1M, which management frames as proof the business model is working.
• Execution on large fleet programs accelerated scale — the company largely shipped a >200‑unit UPS program (many units already on the road) and recognized $5.2M in Q4 revenue on 34 units, with additional revenue to be recognized as upfits complete.
• Product diversification is progressing — Xos expanded its Hub mobile energy platform (new 210–630 kWh variants, with a 400 kWh unit already shipped) and grew its powertrain business with Blue Bird (~100 orders since Q2), expecting high double‑ to triple‑digit growth in hubs and powertrains in 2026.
• Q4 GAAP gross margin swung to a $2.6M loss due to inventory reserves, write‑offs and tariff-related cost pressures, and full‑year margins were compressed by a shift toward lower‑ASP stripped chassis units.
• Balance sheet and guidance — receivables fell to $6M, cash rose to $14M, the $20M convertible was restructured through 2028, and 2026 guidance calls for $40–50M revenue, 350–500 units, and a non‑GAAP operating loss of $11.9–13.3M.

XOS Stock Down 18.0%

NASDAQ XOS opened at $1.68 on Friday. XOS has a 12 month low of $1.63 and a 12 month high of $5.60. The company has a market capitalization of $19.03 million, a P/E ratio of -0.60 and a beta of 1.66. The company’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.41 and a quick ratio of 1.44.

Institutional Investors Weigh In On XOS

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC bought a new stake in shares of XOS during the 4th quarter worth $33,000. Geode Capital Management LLC lifted its holdings in shares of XOS by 29.9% during the fourth quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock valued at $129,000 after purchasing an additional 16,357 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of XOS in the 3rd quarter valued at $27,000. Finally, Two Sigma Investments LP acquired a new position in shares of XOS in the 3rd quarter valued at $331,000. Institutional investors and hedge funds own 12.86% of the company’s stock.

Analysts Set New Price Targets

XOS has been the subject of several research analyst reports. Zacks Research downgraded shares of XOS from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of XOS in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, XOS presently has an average rating of “Hold” and an average target price of $7.00.

XOS Company Profile

Xos, Inc (NASDAQ: XOS) is a U.S.-based manufacturer of commercial electric vehicles, offering Class 5 through Class 8 electric trucks, chassis and proprietary battery systems. The company’s core business spans vehicle design, powertrain integration, battery management and telematics, aimed at supporting last-mile delivery, beverage distribution and vocational fleets. Xos combines modular vehicle architectures with advanced software to deliver route-optimized performance and zero-emission operation for commercial customers.

Founded in 2016 as a spin-off from a specialty vehicle division, Xos designs, engineers and assembles its electric trucks at a manufacturing facility in Morristown, Tennessee, while maintaining research and development operations in California.