Xos, Inc.

Xos, Inc. announced a multi-million-dollar follow-on purchase order for 12 Xos Hub ™ mobile energy storage and charging systems from a leading autonomous fleet operator. The order, valued at approximately $3 million, will power the operator's charging needs as it scales autonomous operations across North America and Europe. This deal positions Xos at the center of a rapidly growing mobile storage market, enabling rapid charging deployment without extensive utility upgrades.

Xos, Inc. announced the completion of a registered direct offering, raising approximately $6.0 million in gross proceeds before fees and expenses. The company sold 1,090,910 shares of its common stock at $5.50 per share to certain institutional investors. Roth Capital Partners, LLC served as the exclusive placement agent for the offering, receiving a 6.5% fee and reimbursement for expenses.

Xos, Inc. announced its participation in the Government Fleet Expo and Conference (GFX) 2026, taking place from June 9-12. The company will exhibit its full product portfolio, including the Charger Hub mobile and stationary energy storage system, electric powertrains, and electric step vans and Class 8 trucks, at Booth 1416. This marks Xos's first appearance at GFX, aiming to engage directly with municipal, state, and federal fleet decision-makers to advance their electrification commitments and address challenges like grid upgrades and budget constraints.

Xos, Inc. announced a registered direct offering of 1,090,910 shares of its common stock at $5.50 per share, expected to generate approximately $6.0 million in gross proceeds. The company intends to use the net proceeds to fund its growth plans, including the expansion of its Power Hub and energy storage business into grid-independent power markets serving AI data centers and industrial facilities. Additionally, funds will be allocated for working capital, general corporate purposes, and debt repayment. Roth Capital Partners is acting as the exclusive placement agent for the offering, which is anticipated to close around June 5, 2026.

Xos, Inc. announced the launch of its 2.5MWh Power Hub series, a new line of fully integrated, behind-the-meter energy storage and hybrid power systems. These systems are designed to deliver megawatt-scale power rapidly, addressing the multi-year grid interconnection delays faced by data centers and industrial facilities. Built on Xos's proven energy storage architecture, the Power Hub scales from 1.2 MWh to 4 MWh and ships as a single, factory-integrated unit, significantly reducing deployment time and costs compared to traditional infrastructure.

Xos, Inc. reported a significant increase in Q1 2026 revenue to $11.2 million, up from $5.9 million in the prior year, and a reduced net loss of $(4.9) million compared to $(10.2) million. Despite these improvements, the company disclosed substantial doubt about its ability to continue as a going concern due to ongoing net losses, cash outflows, and the critical need for additional capital. Xos is exploring various financing strategies, including debt and equity, but acknowledges that access to capital is not assured, and failure to secure funding could lead to bankruptcy.

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.

Xos, Inc. reported strong financial results for the first quarter ended March 31, 2026, achieving its highest quarterly gross margin and lowest operating loss since going public. The company delivered 95 units, including 63 powertrains, generating $11.2 million in revenue. Xos also highlighted platform milestones, including gigawatt-hours charged by Xos Hub units and millions of cumulative miles driven by customer fleets, alongside offering its electric truck chassis at a competitive price of $99,000. The company maintained its 2026 outlook for revenue and unit deliveries.

Xos, Inc. and Aljomaih Automotive Co. executed a Third Amended and Restated Convertible Promissory Note on May 8, 2026, for the original $20 million note. The amendment significantly reduced the conversion price from $71.451 to $12.00 per share. It also introduced a mandatory conversion feature, allowing Xos to compel conversion if its common stock's Daily VWAP exceeds $16.00 for a specified period. The note carries a 10.0% annual interest rate, payable in shares, and has a maturity date of February 11, 2028, with a schedule of mandatory prepayments.

Xos, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on June 23, 2026. Key proposals include the election of three Class II directors, ratification of Grant Thornton LLP as independent auditors, and an amendment to the 2021 Equity Incentive Plan to increase reserved shares. Stockholders will also vote on a significant proposal to approve the potential issuance of 20% or more of outstanding common stock at prices below the Nasdaq Minimum Price to holders of Convertible Promissory Notes, which may also involve a change of control.