Key Takeaways:
Xos, Inc. (NASDAQ: XOS) reported first-quarter revenue of $11.2 million and a record gross margin of 38.6 percent, beating analyst estimates on both top and bottom lines as the company reduced its operating loss.
“Q1 was a defining proof point for this team. We delivered the highest gross margin in our history as a public company and the lowest operating loss since going public,” said Dakota Semler, Chief Executive Officer of Xos. “Xos is building a multi-product platform that wins on reliability, wins on economics, and wins regardless of where the incentive landscape goes.”
The fleet electrification company beat expectations across the board. The quarterly loss of $0.43 per share was a significant improvement over the Zacks Consensus Estimate of a $0.72 loss, while revenue of $11.23 million surpassed the consensus estimate by over 80 percent.
Shares of Xos have gained about 12.2 percent since the beginning of the year, outperforming the S&P 500’s 8.8 percent gain. The company maintained its full-year 2026 guidance, projecting revenue between $40 million and $50 million and deliveries of 350 to 500 units.
“We delivered record gross margins of 38.6% and significantly reduced operating loss, with GAAP operating loss improving by nearly 50% and non-GAAP operating loss by 67% year-over-year, while continuing to scale revenue,” said Liana Pogosyan, Chief Financial Officer. “Importantly, these results are driven by structural improvements across sourcing, inventory management, and cost control—not one-time actions.”
The company reported a record 95 unit deliveries in the quarter, a more than threefold increase from the prior-year quarter. This included 63 powertrains for Blue Bird school buses.
Xos reaffirmed its 2026 financial outlook:
The strong quarterly performance and improved operational efficiencies signal that the company's cost-control measures are taking hold. Investors will be watching the company's earnings call on May 14, 2026, for management's commentary on the sustainability of these margins and future demand.
This article is for informational purposes only and does not constitute investment advice.
