Q1 2026 Xos Inc Earnings Call Transcript
Key Points
- Xos Inc (XOS) reported its highest gross margins in company history, driven by a strategic shift towards higher-margin products like hubs and powertrains.
- Revenue for Q1 2026 nearly doubled from the previous year, reaching $11.2 million, indicating strong sales performance.
- The company achieved a significant reduction in operating loss, marking the lowest since going public, showcasing improved operational efficiency.
- Xos Inc (XOS) is expanding its product offerings beyond electric trucks to include mobile energy infrastructure and powertrain systems, diversifying its revenue streams.
- The company is experiencing strong demand for its hub product, with plans to expand production capacity and introduce new iterations to meet customer needs.
- Xos Inc (XOS) faces potential risks from regulatory changes, such as the EPA's removal of California's CARB waiver, which could impact zero-emissions adoption.
- The company is still waiting for some of its sales pipeline to firm up for the second half of the year, creating uncertainty in future revenue projections.
- Despite improvements, Xos Inc (XOS) continues to operate at a loss, with a non-GAAP operating loss of $2.6 million for the quarter.
- The company has a wide range of unit guidance due to variability in product mix, which could affect revenue consistency.
- Xos Inc (XOS) is navigating challenges related to tariffs, regulatory shifts, and capital markets, which could impact future operations and profitability.
Good day, and welcome to the Xos Inc first-quarter 2026 earnings call. (Operator Instructions) Please note this event is being recorded.
I would now like to send 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 first-quarter 2026 earnings press release. As you listened 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 on the quarter ended March 31, 2026.
Management's statements today reflect management's views as of today, May 14, 2026, only and will include forward-looking statements, including statements regarding our fiscal year 2026, management's expectations for future financial and operational
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