Xos Inc Financials
Xos Inc (XOS) reported $37.7M in revenue over the twelve months to Jun 30, 2026, down 26.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Xos’s dominant shift is cash-flow repair through cost and working-capital reduction, while gross margins remain thin.
FY2025 operating cash flow reached$5.4M after-$48.8M in FY2024, yet operating income remained negative, so cash improvement did not equal earnings improvement. Inventory fell31.7% while receivables fell77.6% , pointing to working-capital release as a major cash source.
Revenue contracted
Capital spending was
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Xos Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Xos Inc scores -5.01, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($47.8M) relative to total liabilities ($36.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Xos Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Xos Inc reported a net loss of $25 while generating $5.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Xos Inc generated $46.0M in revenue in fiscal year 2025. This represents a decrease of 17.8% from the prior year.
Xos Inc's EBITDA was -$30.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.0% from the prior year.
Xos Inc reported -$25 in net income in fiscal year 2025. This represents an increase of 49.6% from the prior year.
Xos Inc earned -$2.71 per diluted share (EPS) in fiscal year 2025. This represents an increase of 59.5% from the prior year.
Cash & Balance Sheet
Xos Inc generated $5.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 111.0% from the prior year.
Xos Inc held $14.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Xos Inc's gross margin was 5.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.
Xos Inc's operating margin was -71.9% in fiscal year 2025, reflecting core business profitability. This is up 10.0 percentage points from the prior year.
Xos Inc's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. That is unchanged from the prior year.
Xos Inc's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. That is unchanged from the prior year.
Capital Allocation
Xos Inc invested $8.0M in research and development in fiscal year 2025. This represents a decrease of 24.7% from the prior year.
Xos Inc reported no capital expenditure in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Not reported for fiscal year 2025.
XOS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M-57.8% | $11.2M+115.0% | $5.2M-68.4% | $16.5M-10.3% | $18.4M+212.9% | $5.9M-48.8% | $11.5M-27.3% | $15.8M |
| Cost of Revenue | $4.2M-39.5% | $6.9M-12.5% | $7.9M-43.6% | $14.0M-16.6% | $16.8M+259.0% | $4.7M-69.3% | $15.2M+17.5% | $12.9M |
| Gross Profit | $573K-86.8% | $4.3M+263.2% | -$2.7M-204.9% | $2.5M+54.6% | $1.6M+35.2% | $1.2M+132.6% | -$3.7M-229.8% | $2.9M |
| R&D Expenses | $1.9M-6.5% | $2.0M+7.9% | $1.9M-10.4% | $2.1M+0.7% | $2.1M+8.1% | $1.9M-0.3% | $1.9M-26.1% | $2.6M |
| SG&A Expenses | $5.8M-4.1% | $6.1M+33.6% | $4.5M-29.7% | $6.5M+9.3% | $5.9M-25.2% | $7.9M-1.9% | $8.1M-9.5% | $8.9M |
| Operating Income | -$7.9M-69.9% | -$4.7M+52.1% | -$9.8M-39.5% | -$7.0M+1.0% | -$7.1M+23.8% | -$9.3M+36.4% | -$14.6M-50.4% | -$9.7M |
| Income Tax | $27K+440.0% | $5K | $0+100.0% | -$2K-115.4% | $13K+8.3% | $12K-50.0% | $24K+500.0% | $4K |
| Net Income | -$6.9M-40.2% | -$4.9M-131.7% | $15.5M+631.3% | $2.1M+128.4% | -$7.5M+26.3% | -$10.2M-132.6% | $31.2M+396.6% | -$10.5M |
| EPS (Diluted) | -$0.55-27.9% | -$0.43+53.3% | -$0.92-518.2% | $0.22+124.4% | -$0.90+28.6% | -$1.26+48.1% | -$2.43-84.1% | -$1.32 |
Not reported in any period shown, so not listed: Interest Expense.
XOS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.4M+0.1% | $54.4M-9.9% | $60.4M-18.2% | $73.8M-8.1% | $80.3M-8.4% | $87.7M-10.8% | $98.3M-18.4% | $120.5M |
| Current Assets | $45.0M-0.7% | $45.3M-9.2% | $49.9M-20.2% | $62.5M-6.2% | $66.6M-8.8% | $73.1M-11.2% | $82.3M-15.7% | $97.6M |
| Cash & Equivalents | $13.2M+34.4% | $9.8M-29.9% | $14.0M-0.2% | $14.1M+60.1% | $8.8M+84.6% | $4.8M-56.7% | $11.0M+30.4% | $8.4M |
| Inventory | $23.5M-0.6% | $23.7M-5.2% | $25.0M-1.0% | $25.2M-18.7% | $31.0M-18.4% | $38.0M+3.9% | $36.6M-13.8% | $42.4M |
| Accounts Receivable | $4.5M-39.4% | $7.4M+22.6% | $6.0M-60.7% | $15.4M-15.0% | $18.1M-18.6% | $22.2M-17.4% | $26.9M-26.2% | $36.4M |
| Total Liabilities | $31.6M-8.8% | $34.6M-4.9% | $36.4M-14.8% | $42.8M-31.1% | $62.0M-1.4% | $62.9M-2.9% | $64.7M-7.1% | $69.7M |
| Current Liabilities | $22.5M-6.1% | $23.9M+4.1% | $23.0M-11.5% | $26.0M-13.7% | $30.1M-33.7% | $45.4M-2.8% | $46.7M-7.0% | $50.2M |
| Total Equity | $22.9M+11.5% | $20.5M-14.4% | $24.0M-22.9% | $31.1M+64.5% | $18.9M-25.5% | $25.3M-25.7% | $34.1M-32.9% | $50.8M |
| Retained Earnings | -$239.9M-2.6% | -$233.7M-2.5% | -$228.1M-4.1% | -$219.0M+1.0% | -$221.1M-3.5% | -$213.6M-5.0% | -$203.4M-10.3% | -$184.4M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
XOS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7M-69.2% | -$1.6M-165.2% | $2.4M-20.9% | $3.1M-33.8% | $4.6M+197.7% | -$4.8M-244.2% | $3.3M+128.6% | -$11.5M |
| Capital Expenditures | $19K0.0% | $19K | $0 | $0 | $0 | $0 | $0-100.0% | $148K |
| Free Cash Flow | -$2.7M-68.4% | -$1.6M-166.0% | $2.4M-20.9% | $3.1M-33.8% | $4.6M+197.7% | -$4.8M-244.2% | $3.3M+128.3% | -$11.7M |
| Investing Cash Flow | $0-100.0% | $312K+1633.3% | $18K-58.1% | $43K | $0 | $0 | $0+100.0% | -$23K |
| Financing Cash Flow | $6.1M+308.3% | -$2.9M-19.3% | -$2.4M-213.0% | $2.2M+449.7% | -$618K+58.3% | -$1.5M+0.4% | -$1.5M-3820.0% | $40K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
XOS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.1%-26.5pp | 38.6%+89.5pp | -50.9%-66.2pp | 15.3%+6.4pp | 8.9%-11.7pp | 20.6%+53.0pp | -32.4%-50.5pp | 18.1% |
| Operating Margin | -167.7% | -41.7% | -186.9% | -42.4%-4.0pp | -38.4% | -157.7% | -127.0% | -61.4% |
| Net Margin | -145.4% | -43.8% | 297.4% | 12.9%+53.6pp | -40.7% | -172.8% | 271.7% | -66.6% |
| Return on Equity | -30.2%-6.2pp | -24.0%-88.8pp | 64.8%+58.0pp | 6.8%+46.5pp | -39.6%+0.5pp | -40.1%-131.5pp | 91.4%+112.1pp | -20.7% |
| Return on Assets | -12.7%-3.6pp | -9.0%-34.8pp | 25.7%+22.8pp | 2.9%+12.2pp | -9.3%+2.3pp | -11.6%-43.3pp | 31.7%+40.4pp | -8.7% |
| Current Ratio | 2.00+0.1x | 1.89-0.3x | 2.17-0.2x | 2.41+0.2x | 2.22+0.6x | 1.61-0.2x | 1.76-0.2x | 1.94 |
| Debt-to-Equity | 1.38-0.3x | 1.69+0.2x | 1.52+0.1x | 1.38-1.9x | 3.28+0.8x | 2.48+0.6x | 1.90+0.5x | 1.37 |
| FCF Margin | -57.1%-42.8pp | -14.3%-60.9pp | 46.6%+28.0pp | 18.6%-6.6pp | 25.3%+106.2pp | -80.9%-109.6pp | 28.7%+102.6pp | -73.9% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
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Where Xos Inc Ranks
Frequently Asked Questions
What is Xos Inc's annual revenue?
Xos Inc (XOS) reported $46.0M in total revenue for fiscal year 2025. This represents a -17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Xos Inc's revenue growing?
Xos Inc (XOS) revenue declined by 17.8% year-over-year, from $56.0M to $46.0M in fiscal year 2025.
Is Xos Inc profitable?
No, Xos Inc (XOS) reported a net income of -$25 in fiscal year 2025, with a net profit margin of 0.0%.
What is Xos Inc's EBITDA?
Xos Inc (XOS) had EBITDA of -$30.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Xos Inc's gross margin?
Xos Inc (XOS) had a gross margin of 5.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Xos Inc's operating margin?
Xos Inc (XOS) had an operating margin of -71.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Xos Inc's net profit margin?
Xos Inc (XOS) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Xos Inc's return on equity (ROE)?
Xos Inc (XOS) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Xos Inc's free cash flow?
Xos Inc (XOS) generated $5.4M in free cash flow during fiscal year 2025. This represents a 111.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Xos Inc's operating cash flow?
Xos Inc (XOS) generated $5.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Xos Inc's total assets?
Xos Inc (XOS) had $60.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Xos Inc's capital expenditures?
Xos Inc (XOS) reported no capital expenditure during fiscal year 2025.
How much does Xos Inc spend on research and development?
Xos Inc (XOS) invested $8.0M in research and development during fiscal year 2025.
What is Xos Inc's current ratio?
Xos Inc (XOS) had a current ratio of 2.17 as of fiscal year 2025, which is generally considered healthy.
What is Xos Inc's debt-to-equity ratio?
Xos Inc (XOS) had a debt-to-equity ratio of 1.52 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Xos Inc's return on assets (ROA)?
Xos Inc (XOS) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Xos Inc's Altman Z-Score?
Xos Inc (XOS) has an Altman Z-Score of -5.01, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Xos Inc's Piotroski F-Score?
Xos Inc (XOS) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Xos Inc's earnings high quality?
Xos Inc (XOS) reported a net loss of $25 while generating $5.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Xos Inc?
Xos Inc (XOS) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.