Xos, Inc.
2.7500-0.03 (-1.08%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · XOS · USD
Key Stats
Market Cap
28.86MP/E (TTM)
-Basic EPS (TTM)
-5.89Dividend Yield
0%Recent Filings
8-K
Xos terminates Mesa lease
Xos terminated its 235,094-square-foot Mesa, Arizona manufacturing lease, assumed in the 2024 ElectraMeccanica acquisition, via an agreement on August 21, 2025, contingent on the lessor securing a replacement tenant. The company will pay approximately $2.7 million in monthly installments over 18 months, forfeit a $1.2 million security deposit, and cover $1.3 million in leasing commissions. Operations continue uninterrupted at other facilities. Termination hinges on a new lease by year-end.
8-K
Xos appoints GM veteran to board
Xos, Inc. expanded its board from eight to nine directors on August 18, 2025, electing automotive veteran John F. Smith as a Class I director until the 2028 annual meeting and appointing him to the Audit Committee. With over 42 years at General Motors, including as Group Vice President of Corporate Planning and Alliances, plus board roles at TI Fluid Systems and American Axle, Smith bolsters governance amid scaling MDXT production and charging solutions. His expertise aids strategic partnerships. Yet risks could derail growth.
8-K
Xos caps note stock issuance
Xos, Inc. and Aljomaih Automotive executed a letter agreement on August 14, 2025, capping common stock issuances under their $20 million convertible note at 1,737,247 shares—19.99% of outstanding shares—to comply with Nasdaq rules. This limits interest payments in shares when the 10-day VWAP falls below $3.04, shifting excess to cash by August 11, 2026, or sooner with stockholder approval. Xos commits to seeking that approval promptly. The cap curbs dilution yet preserves conversion flexibility.
8-K
Xos launches $20M stock sales
Xos, Inc. entered a sales agreement on August 14, 2025, with Roth Capital Partners to offer up to $20 million in common stock via at-the-market sales, though limited to $5.4 million under current S-3 rules. The agent earns a 3% commission on gross proceeds, with Xos reimbursing expenses. Funds will support working capital, debt servicing, and general purposes, including note payments. This flexible capital raise bolsters liquidity amid obligations.
10-Q
Q2 FY2025 results
Xos posted Q2 revenue of $18.4M, up 18% y/y but with gross profit dipping to $1.6M from $2.0M amid higher costs, while operating expenses fell 35% to $8.7M on headcount cuts. YTD revenue slid 15% y/y to $24.3M, yet net loss narrowed 22% to $7.5M quarterly and 14% to $17.7M YTD, thanks to disciplined spending. Cash dipped to $8.8M, with operating cash use minimal at $0.1M YTD; debt stands at $20M principal, now payable in quarterly installments through 2028 after August amendment. EPS held at -$0.91 basic/diluted, matching 8.3M weighted shares. One customer drove 70% of Q2 revenue. Supply chain snarls from tariffs and geopolitics loom large.
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