Quarterly ResultMay 14, 2026, 04:20 PM
Xos Reports Record 38.6% Gross Margin; Q1 Operating Loss $4.7M
AI Summary
Xos, Inc. reported its first-quarter 2026 financial results, achieving its highest quarterly gross margin and lowest operating loss since going public. The company generated $11.2 million in revenue, delivering 95 units, including 63 powertrains for Blue Bird school buses. Gross margins expanded significantly to 38.6%, while operating loss improved by 49.5% year-over-year to $4.7 million. Xos also highlighted product milestones, including the reliability of its Xos Hub energy storage, the launch of new Hub variants, and offering its electric truck chassis at a competitive price of $99,000. The company maintained its 2026 outlook for revenue and unit deliveries.
Key Highlights
- Gross margin reached a record 38.6% in Q1 2026, up from 20.6% in Q1 2025.
- Operating loss improved by 49.5% year-over-year to $4.7 million.
- Non-GAAP operating loss decreased by 67.2% year-over-year to $2.6 million.
- Revenue grew to $11.2 million in Q1 2026, compared to $5.9 million in Q1 2025.
- Delivered 95 units in Q1 2026, including 63 powertrains, more than triple Q1 2025.
- Operating expenses decreased by 14.0% year-over-year to $9.0 million.
- Electric truck chassis now offered at $99,000, making it competitively priced.
- Maintained 2026 outlook: Revenue $40.0-$50.0 million, 350-500 unit deliveries.
Price Impact
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