Filing Flows › Xos (XOS) › Q1 2026
Xos (XOS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Xos (XOS) reported revenue of $11.2M for the first quarter 2026 (Q1 2026), +91% from a year earlier and +115% from the quarter before. Operating margin was -41.7%, net loss $4.9M (43.8% of revenue).
Xos, Q1 2026: revenue $11.2M (+91% year over year), operating margin -41.7%, net loss $4.9M, operating cash flow −$1.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.2M | +115% | +91% |
| Operating profit | −$4.7M | — | — |
| Net earnings | −$4.9M | — | — |
| Operating cash flow | −$1.6M | -165% | — |
What changed
Revenue was $11.2M in Q1 2026, up 91% year over year and up 115% from the previous quarter. Powertrains & hubs was the largest line at 81% of revenue. Powertrains & hubs added $7.5M year over year (up 473%), 141% of the total change. Stepvans & vehicle incentives declined 55%.
Gross margin was 38.6%, up 18.0 points from Q1 2025. Operating costs exceeded revenue by $4.7M, an operating margin of -41.7%. Operating expenses fell 14% while revenue rose 91%. The fastest-growing cost line was Sales & marketing (+40%). The quarter ended with a net loss of $4.9M, narrower than the previous quarter's $9.8M loss.
Operating cash flow was −$1.6M. Non-cash charges added back $600K of depreciation and $2.1M of share-based compensation. Working capital and other items added $609K. Capital expenditures of $19K exceeded it, leaving free cash flow of −$1.6M.
Questions
What was Xos' revenue in the first quarter 2026?
Xos (XOS) reported revenue of $11.2M for the first quarter 2026 (Q1 2026), +91% from a year earlier and +115% from the quarter before.
Was Xos profitable in the first quarter 2026?
Operating loss was $4.7M (-41.7% of revenue) and net loss $4.9M.
Source: Xos 10-Q on SEC EDGAR.