Xos, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:36 pm EST
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Xos, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 16.7 million compared to USD 11.01 million a year ago. Net loss was USD 14.11 million compared to USD 19.96 million a year ago. Basic loss per share from continuing operations was USD 2.4 compared to USD 3.6 a year ago. Diluted loss per share from continuing operations was USD 2.4 compared to USD 3.9 a year ago.
For the nine months, sales was USD 26.15 million compared to USD 27.81 million a year ago. Net loss was USD 62.02 million compared to USD 53.64 million a year ago. Basic loss per share from continuing operations was USD 10.8 compared to USD 9.9 a year ago. Diluted loss per share from continuing operations was USD 10.8 compared to USD 10.2 a year ago.
Xos, Inc. is a provider of fleet electrification solutions. The Company designs and manufactures Class 5-8 battery-electric commercial vehicles that travel on last-mile, back-to-base routes of up to 200 miles per day. It also offers charging infrastructure products and services to support electric vehicle fleets. Its fleet management software integrates vehicle operation and vehicle charging to provide commercial fleet operators a more seamless and vehicle ownership experience than traditional internal combustion engine counterparts. Its Powered by Xos business provides mix-use powertrain solutions for off-highway, industrial and other commercial equipment. Its Fleet-as-a-Service offering facilitates the transition from traditional internal combustion engine vehicles to battery-electric vehicles. Its Xos Energy Solutions is its comprehensive charging infrastructure through, which it offers charging equipment, mobile energy storage, and turnkey infrastructure services.