Xos, Inc. Reports Record Revenue and Growth Despite Challenges

Xos, Inc. reported record revenue of $18.4 million and deliveries of 135 vehicles in Q2, with a GAAP gross margin of 8.8%. The company fulfilled a 200-plus unit order for a single customer and achieved positive free cash flow of $4.6 million. Despite declining gross margins and tariff impacts, Xos reaffirmed its full-year guidance with revenue expected between $50.2 million and $65.8 million and unit deliveries between 320 and 420.