Q2 2025 Xos Inc Earnings Call Transcript
Key Points
- Xos Inc (XOS) achieved record quarterly revenue of $18.4 million and delivered 135 vehicles, marking the highest quarterly revenue and unit deliveries in the company's history.
- The company secured a significant order of over 200 units from a single customer, the largest in its history, indicating strong customer relationships and demand.
- Xos Inc (XOS) reported its lowest operating loss since going public, approximately $7.1 million, due to effective cost control and prioritization of expenditures.
- The company maintained positive non-GAAP gross margins for the eighth consecutive quarter, demonstrating financial sustainability.
- Xos Inc (XOS) expanded its product offerings with higher-margin powertrain systems and charging infrastructure, aiming to diversify revenue and reduce customer concentration.
- GAAP gross margin declined to 8.8% in Q2, impacted by tariffs and structured pricing for large orders, resulting in lower near-term margins.
- Non-GAAP gross margin decreased to 1.4% in the second quarter, down from 15% in the first quarter, reflecting challenges in inventory management and tariff costs.
- Operating expenses, although reduced, still amounted to $8.7 million, highlighting ongoing financial pressures.
- The company revised its non-GAAP operating loss guidance to a range of $24.4 million to $26.9 million due to changes in product mix and increased tariff-related costs.
- Xos Inc (XOS) continues to face supply chain challenges and tariff uncertainties, which could impact future profitability and operational performance.
Good day, and welcome to Xos Inc., second quarter 2025 earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to David Zlotchew, General Counsel. Please go ahead.
Thank you, everyone, for joining us today. Hosting the call with me are Xos' Chief Executive Officer, Dakota Semler; Xos' Chief Operating Officer, Giordano Sordoni; and Xos' Chief Financial Officer, Liana Pogosyan. Today, after the close of regular trading, Xos issued its second quarter 2025 earnings press release.
As you listen to today's conference call, we encourage you to have our press release in front of you, which includes our financial results as well as commentary of the quarter in six months into the June 30, 2025.
Management statements today reflect management's views as of today, August 13, 2025 only, and will include forward-looking statements, including statements regarding our fiscal year 2025, management's expectations for future
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