Filing Flows › Xos (XOS) › Q3 2025
Xos (XOS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Xos (XOS) reported revenue of $16.5M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -10% from the quarter before. Operating margin was -42.4%, net earnings $2.1M (12.9% of revenue).
Xos, Q3 2025: revenue $16.5M (+4% year over year), operating margin -42.4%, net earnings $2.1M, operating cash flow $3.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.5M | -10% | +4% |
| Operating profit | −$7.0M | — | — |
| Net earnings | $2.1M | — | — |
| Operating cash flow | $3.1M | -34% | — |
What changed
Revenue was $16.5M in Q3 2025, up 4% year over year and down 10% from the previous quarter. Stepvans & vehicle incentives was the largest line at 83% of revenue. Stepvans & vehicle incentives added $1.6M year over year (up 13%), 218% of the total change. Ancillary revenue declined 91%.
Gross margin was 15.3%, down 2.8 points from a year earlier. Operating costs exceeded revenue by $7.0M, an operating margin of -42.4%. Operating expenses fell 24% while revenue rose 4%. Net earnings were $2.1M. The effective tax rate was -0.1%. Non-operating items added $9.1M, 430% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.1M, 145% of net earnings. Non-cash charges added back $500K of depreciation and $2.1M of share-based compensation. Working capital and other items used $1.7M.
Questions
What was Xos' revenue in the third quarter 2025?
Xos (XOS) reported revenue of $16.5M for the third quarter 2025 (Q3 2025), +4% from a year earlier and -10% from the quarter before.
Was Xos profitable in the third quarter 2025?
Operating loss was $7.0M (-42.4% of revenue) and net earnings $2.1M.
Source: Xos 10-Q on SEC EDGAR.