Xos (XOS) Financial Statements & Analysis

Xos (XOS) Income Statement

Xos reported revenue of $45.99M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 17.8% from $55.96M a year earlier. Xos posted a net loss of $25.32M, compared with a net loss of $50.16M a year earlier. Gross margin was 5.9% and operating margin -71.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $4.74M, down 74.2% from the same quarter a year earlier.

Xos Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Xos, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	45.99	55.96	44.52	36.38	5.05	2.64	1.15	0.31
Cost of Revenue	43.27	52.00	45.81	66.41	7.41	2.34	0.81	0.09
Gross Profit	2.72	3.97	-1.29	-30.03	-2.36	0.30	0.34	0.22
Operating Expenses
Research & Development	8.00	10.63	19.59	30.68	20.08	7.02	0.36	1.54
Selling, General & Administrative	27.81	39.21	44.09	50.64	30.72	5.16	4.11	2.15
Operating Expenses	35.81	49.84	63.68	81.32	50.79	12.17	4.72	3.81
Operating Income	-33.08	-45.87	-64.97	-111.35	-53.16	-11.87	-4.37	-3.60
Other Income/Expense
Interest Income	0.00	0.00	0.00	1.20	0.04	0.00	0.56	0.35
Interest Expense	0.00	0.21	9.10	-4.53	0.00	3.29	0.00	0.00
Other Income/Expense	7.79	-4.25	-10.86	38.03	76.56	-4.80	-0.56	-0.35
Income
Income Before Tax	-25.30	-50.12	-75.82	-73.32	23.40	-16.67	-4.93	-3.95
Income Tax Expense	0.02	0.04	0.02	0.01	0.00	0.00	0.00	0.00
Net Income	-25.32	-50.16	-75.84	-73.33	23.40	-16.67	-4.93	-3.95
Net Income - Continuous Operations	-25.32	-50.16	-75.84	-73.33	23.40	-16.67	-4.93	-3.95
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	-30.90	-44.77	-60.09	-109.28	24.14	-11.58	-4.14	-3.48
EBIT	-33.08	-45.87	-64.97	-111.35	-53.16	-11.87	-	-
Depreciation & Amortization	3.84	5.14	4.88	2.07	0.74	0.30	0.24	0.12
Earnings Per Share
Basic EPS	-3.00	-7.00	-13.00	-13.00	7.00	-7.00	-4.00	-5.00
Diluted EPS	-3.00	-7.00	-13.00	-13.00	7.00	-7.00	-4.00	-5.00
Basic Shares Outstanding	9.36	7.50	5.79	5.51	3.55	2.40	1.18	0.79
Diluted Shares Outstanding	9.36	7.50	5.79	5.81	3.59	2.40	1.18	0.79

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Xos Financial Statements

What was Xos's revenue in fiscal 2025?

Xos reported revenue of $45.99M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 17.8% from $55.96M a year earlier.

Is Xos profitable?

No. Xos reported a net loss of $25.32M in fiscal 2025. In fiscal 2024 it lost $50.16M.

What is Xos's operating margin?

Xos's operating income was −$33.08M on revenue of $45.99M in fiscal 2025, an operating margin of -71.9%, compared with -82.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition