Filing Flows › Xos (XOS) › Q1 2025
Xos (XOS) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Xos (XOS) reported revenue of $5.9M for the first quarter 2025 (Q1 2025), -55% from a year earlier and -49% from the quarter before. Operating margin was -157.7%, net loss $10.2M (172.8% of revenue).
Xos, Q1 2025: revenue $5.9M (-55% year over year), operating margin -157.7%, net loss $10.2M, operating cash flow −$4.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.9M | -49% | -55% |
| Operating profit | −$9.3M | — | — |
| Net earnings | −$10.2M | — | — |
| Operating cash flow | −$4.8M | -244% | — |
What changed
Revenue was $5.9M in Q1 2025, down 55% year over year and down 49% from the previous quarter. Stepvans & vehicle incentives was the largest line at 61% of revenue. Stepvans & vehicle incentives lost $8.0M year over year (down 69%), 110% of the total change.
Gross margin was 20.6%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $9.3M, an operating margin of -157.7%. Operating expenses fell 20% while revenue fell 55%. The quarter ended with a net loss of $10.2M, narrower than the previous quarter's $19.0M loss.
Operating cash flow was −$4.8M. Non-cash charges added back $500K of depreciation and $1.5M of share-based compensation. Working capital and other items added $3.4M.
Questions
What was Xos' revenue in the first quarter 2025?
Xos (XOS) reported revenue of $5.9M for the first quarter 2025 (Q1 2025), -55% from a year earlier and -49% from the quarter before.
Was Xos profitable in the first quarter 2025?
Operating loss was $9.3M (-157.7% of revenue) and net loss $10.2M.
Source: Xos 10-Q on SEC EDGAR.