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Xos, Inc. (XOS) SEC Filing 10-Q Quarterly Report for the period ending Saturday, September 30, 2023

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Xos, Inc.

HISTORY TOOLS
CIK: 1819493 Ticker: XOS
Exhibit 99.1
Xos Achieves Largest Quarter with Profitable Deliveries to National Fleet Customers

Xos has delivered 105 units in the third quarter to multiple global fleets and parcel delivery operators.

LOS ANGELES — October 18, 2023 — Xos, Inc. (NASDAQ: XOS) is pleased to announce that it has delivered 105 units to end customers in the third quarter of 2023. The period marks the highest quarterly delivery volumes to date for the company and the company’s first quarter delivering positive gross margin units to customers. Vehicles delivered in the third quarter include the first 2023 Xos SV Stepvans delivered to customers. The new Xos 2023 stepvan is designed to meet or exceed margin performance of legacy diesel trucks on a host of performance metrics. This makes Xos among the first gross margin positive commercial EV manufacturers in the entire commercial EV industry and propels Xos towards its stated objective of positive free cash flows.

xos.jpg

For the third quarter of 2023, Xos' preliminary estimate of GAAP gross margin is between 8% to 15%. This result was driven by unit gross margins of the new 2023 Xos SV Stepvan that range from approximately +10% to 20% per unit, depending on configuration. Three pillars underscore this milestone achievement:

1.Proprietary software technology;
2.Long-term supply agreements with one of the largest global Tier 1 battery cell and electronics suppliers; and
3.Robust design, engineering, and testing processes that reduce manufacturing costs.

Proprietary technology enables Xos vehicles to deliver top performance to customers from a more cost efficient battery system. Xos’ 140kWh Stepvan fulfills the needs of most last-mile delivery routes at a competitive purchase price. Xos’ long-range 280kWh stepvan option doubles the usable range for fleets with longer routes or heavier payloads.


The following information was filed by Xos, Inc. (XOS) on Wednesday, October 18, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Xos, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

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  • Peers / Competitors

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Inside Xos, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Condensed Consolidated Statements Of Operations And Comprehensive Loss (Parenthetical)
Condensed Consolidated Statements Of Stockholders??? Equity
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Narrative (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Product Warranty Liability (Details)
Commitments And Contingencies
Convertible Notes
Convertible Notes (Details)
Derivative Instruments
Derivative Instruments - Narrative (Details)
Description Of Business
Description Of Business (Details)
Earn-Out Shares Liability
Earn-Out Shares Liability (Details)
Equity
Equity (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured On A Recurring Basis (Details)
Fair Value Measurements - Changes In The Fair Value Of The Financial Liabilities (Details)
Fair Value Measurements - Significant Unobservable Inputs Related To Level 3 Earn-Out Shares Liability (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Tables)
Inventories - Narrative (Details)
Inventories - Schedule Of Inventory (Details)
Investments
Investments (Tables)
Investments - Amortized Cost And Fair Value Of Marketable Debt Securities, Available-For-Sale By Contractual Maturity (Details)
Investments - Amortized Cost, Gross Unrealized Gains/Losses In Accumulated Other Comprehensive Loss And Fair Value Of Marketable Debt Securities, Available-For-Sale (Details)
Investments - Continuous Unrealized Loss Position (Details)
Investments - Gross Realized Gains (Losses) (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Computation Of Basic And Diluted Net Income (Loss) Per Share (Details)
Net Loss Per Share - Potential Weighted Average Shares That Were Excluded From The Computation Of Diluted Net Income (Loss) Per Share (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Narrative (Details)
Related Party Transactions
Related Party Transactions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Disaggregated Revenues By Major Source (Details)
Selected Balance Sheet Data
Selected Balance Sheet Data (Tables)
Selected Balance Sheet Data - Other Current Liabilities (Details)
Selected Balance Sheet Data - Other Non-Current Liabilities (Details)
Selected Balance Sheet Data - Prepaid Expenses And Other Current Assets (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Recognized Stock-Based Compensation Expense Activity (Details)
Share-Based Compensation - Rsu Activity (Details)
Share-Based Compensation - Stock Options Activity (Details)
Subsequent Events
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

Xos, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: XOS
CIK: 1819493
Form Type: 10-Q Quarterly Report
Accession Number: 0001819493-23-000252
Submitted to the SEC: Thu Nov 09 2023 4:35:57 PM EST
Accepted by the SEC: Thu Nov 09 2023
Period: Saturday, September 30, 2023
Industry: Motor Vehicle Parts And Accessories

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