Xos' Q2 revenue drops sharply as deliveries shift to later quarters

Xos

13/08/2026 21:20

Overview
U.S. energy storage provider's Q2 revenue fell sharply yr/yr as deliveries shifted to later quarters
Gross margin improved to 12.1% from 8.9% on inventory discipline and favorable product mix
Company raised $7.6 mln in new capital to reinforce liquidity and support growth initiatives

Outlook
Xos sees 2026 revenue between $35 mln and $43 mln
Company expects 2026 non-GAAP operating loss of $(14.7) mln to $(11.4) mln
Xos forecasts 2026 unit deliveries of 250 to 350 units

Result Drivers
DELIVERY TIMING - Co said Q2 revenue decline was due to deliveries shifting into later quarters as it focused on powertrain and hub production
MARGIN IMPROVEMENT - Gross margin rose to 12.1% from 8.9% on inventory discipline and a more favorable product mix
COST CONTROL - Operating expenses fell 2.1% yr/yr and 5.4% sequentially, reflecting ongoing operational efficiency and cost discipline

Company press release: ID:nGNX4pHgr2

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$4.7 mln
$14.30 mln (1 Analyst)
Q2 Net Loss
 
$6.9 mln
 
Q2 Adjusted Operating Income
 
-$6.2 mln
 
Q2 Income From Operations
 
-$7.9 mln
 
Q2 Operating Expenses
 
$8.52 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto & truck manufacturers peer group is "buy"
Wall Street's median 12-month price target for Xos Inc is $4.00, about 52.1% above its August 12 closing price of $2.63

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Aug 11 - ESS Tech Q2 net loss widens on fewer deliveries, higher operating costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)