Xos, Inc. (XOS) Balance Sheet
XOS balance sheet, 2025
December 31, 2025 · U.S. dollars$60.4M assets = $37.1M liabilities + $23.3M equity
Both columns are drawn to the same scale: what XOS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XOS financial health
Descriptive bands, not a rating. Fiscal 2025.
XOS balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.1M2018 | $60.4M2025 | +61.9%/yr | |
| Total liabilities | $8.0M2018 | $37.1M2025 | +24.6%/yr | |
| Shareholders’ equity | −$5.9M2018 | $23.3M2025 | — | |
| Cash & short-term investments | $860,0002018 | $14.0M2025 | +49.0%/yr | |
| Total debt | $6.3M2018 | $22.0M2025 | +19.7%/yr | |
| Net cash (debt) | −$5.4M2018 | −$7.9M2025 | −$2.5M | |
| Working capital | −$175,0002018 | $26.2M2025 | +$26.4M | |
| Book value per share | $48.542021 | $2.492025 | −52.4%/yr | |
| Current ratio | 0.872018 | 2.112025 | +1.24 | |
| Debt / equity | 0.012021 | 0.942025 | +0.93 | |
| Shares outstanding | 3.6M2021 | 9.4M2025 | +27.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XOS assets
XOS liabilities and equity
XOS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XOS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $14.0M | $11.0M | $11.6M | $86.3M | $110.8M | $10.4M | $19,000 | $860,000 |
| Cash & equivalents | $14.0M | $11.0M | $11.6M | $35.6M | $16.1M | $10.4M | $19,000 | $860,000 |
| Short-term investments | — | — | $0 | $50.6M | $94.7M | $375,007 | — | — |
| Receivables | $6.6M | $29.2M | $16.0M | $8.5M | $3.4M | $408,000 | $179,000 | $0 |
| Inventory | $25.0M | $36.6M | $37.8M | $57.5M | $30.9M | $1.9M | $1.6M | $317,000 |
| Other current assets | $4.3M | $5.5M | $6.3M | $10.9M | $20.9M | $56,000 | $16,000 | $0 |
| Total current assets | $49.9M | $82.3M | $71.7M | $163.2M | $166.0M | $12.7M | $1.8M | $1.2M |
| Property, plant & equipment (net) | $5.9M | $9.3M | $19.7M | $25.1M | $7.4M | $1.1M | $973,000 | $897,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $54.8M | $0 | $0 | $0 |
| Other non-current assets | $4.6M | $6.7M | $2.3M | $1.6M | $506,000 | $0 | $0 | $0 |
| Total assets | $60.4M | $98.3M | $93.7M | $189.9M | $228.7M | $13.8M | $2.8M | $2.1M |
| Liabilities | ||||||||
| Accounts payable | $2.5M | $8.9M | $2.8M | $2.9M | $10.1M | $1.2M | $1.5M | $719,000 |
| Short-term debt | $9.6M | $25.7M | $5.0M | $32.9M | $482,000 | $18.5M | $1.1M | $70,000 |
| Deferred revenue | $616,000 | $1.5M | $3.1M | $914,000 | $899,000 | $731,000 | — | — |
| Total current liabilities | $23.7M | $46.7M | $19.6M | $45.8M | $16.0M | $32.9M | $6.0M | $1.4M |
| Long-term debt | $12.0M | $224,000 | $20.5M | $19.9M | $1.6M | $166,000 | $0 | $0 |
| Lease obligations | $2.5M | $21.2M | $8.7M | $10.8M | $0 | — | — | — |
| Other long-term liabilities | $1.4M | $17.8M | $8.4M | $12.2M | $36.7M | $7.9M | $7.3M | $6.6M |
| Total liabilities | $37.1M | $64.7M | $48.5M | $77.9M | $54.3M | $41.0M | $13.3M | $8.0M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $74,000 | $1,000 | $1,000 | $1,000 | $16,000 | $7,000 | $4,000 | $2,000 |
| Retained earnings (deficit) | −$228.7M | −$203.4M | −$153.3M | −$77.4M | −$4.1M | −$27.5M | −$10.8M | −$5.9M |
| Accumulated other comprehensive income | — | — | — | −$739,000 | −$381,000 | −$7.9M | — | $0 |
| Total shareholders' equity | $23.3M | $33.6M | $45.2M | $112.1M | $174.4M | −$27.2M | −$10.5M | −$5.9M |
| Key figures | ||||||||
| Total debt | $22.0M | $43.0M | $30.5M | $62.9M | $2.1M | $18.7M | $7.7M | $6.3M |
| Net cash (debt) | −$7.9M | −$32.0M | −$18.9M | $23.3M | $108.8M | −$8.3M | −$7.7M | −$5.4M |
| Working capital | $26.2M | $35.6M | $52.1M | $117.4M | $150.0M | −$20.3M | −$4.2M | −$175,000 |
| Tangible book value | $23.3M | $33.6M | $45.2M | $112.1M | $174.4M | −$27.2M | −$10.5M | −$5.9M |
| Book value per share | $2.49 | $4.48 | $7.81 | $19.28 | $48.54 | — | — | — |
| Shares outstanding | 9.4M | 7.5M | 5.8M | 5.8M | 3.6M | — | — | — |
| Current ratio | 2.11 | 1.76 | 3.66 | 3.57 | 10.38 | 0.39 | 0.30 | 0.87 |
| Quick ratio | 0.87 | 0.86 | 1.41 | 2.07 | 7.14 | 0.33 | 0.03 | 0.64 |
| Debt / equity | 0.94 | 1.28 | 0.68 | 0.56 | 0.01 | — | — | — |
| Equity / assets | 38.6% | 34.2% | 48.2% | 59.0% | 76.3% | −197.5% | −382.2% | −284.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $13.2M | $9.8M | $14.0M | $14.1M | $8.8M | $4.8M | $11.0M | $8.4M | $19.7M | $46.2M | $11.6M | $22.6M |
| Cash & equivalents | $13.2M | $9.8M | $14.0M | $14.1M | $8.8M | $4.8M | $11.0M | $8.4M | $19.7M | $46.2M | $11.6M | $22.6M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $4.7M | $7.7M | $6.6M | $16.4M | $20.0M | $24.6M | $29.2M | $38.6M | $30.1M | $20.7M | $16.0M | $12.5M |
| Inventory | $23.5M | $23.7M | $25.0M | $25.2M | $31.0M | $38.0M | $36.6M | $42.4M | $44.2M | $36.6M | $37.8M | $48.9M |
| Other current assets | $3.5M | $4.0M | $4.3M | $6.8M | $6.8M | $5.7M | $5.5M | $8.1M | $6.2M | $9.3M | $6.3M | $7.5M |
| Total current assets | $45.0M | $45.3M | $49.9M | $62.5M | $66.6M | $73.1M | $82.3M | $97.6M | $100.1M | $112.8M | $71.7M | $91.5M |
| Property, plant & equipment (net) | $5.3M | $4.9M | $5.9M | $6.3M | $7.3M | $8.0M | $9.3M | $16.2M | $17.2M | $18.2M | $19.7M | $20.9M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.2M | $4.2M | $4.6M | $5.0M | $6.4M | $6.6M | $6.7M | $6.7M | $6.1M | $4.0M | $2.3M | $1.8M |
| Total assets | $54.4M | $54.4M | $60.4M | $73.8M | $80.3M | $87.7M | $98.3M | $120.5M | $123.4M | $135.0M | $93.7M | $114.2M |
| Liabilities | ||||||||||||
| Accounts payable | $1.4M | $1.9M | $2.5M | $4.9M | $4.9M | $6.5M | $8.9M | $8.9M | $3.1M | $2.3M | $2.8M | $2.4M |
| Short-term debt | $9.6M | $9.0M | $9.6M | $11.1M | $11.0M | $26.2M | $25.7M | $26.9M | $6.6M | $6.0M | $5.0M | $13.6M |
| Deferred revenue | — | $1.1M | $616,000 | $1.3M | $1.6M | $1.2M | $1.5M | $1.9M | $1.4M | $2.4M | $3.1M | $3.7M |
| Total current liabilities | $22.5M | $23.9M | $23.7M | $26.0M | $30.1M | $45.4M | $46.7M | $50.2M | $20.1M | $22.3M | $19.6M | $27.2M |
| Long-term debt | $8.0M | $10.0M | $12.0M | $14.0M | $15.7M | $189,000 | $224,000 | $304,000 | $20.4M | $20.4M | $20.5M | $19.9M |
| Lease obligations | $2.0M | $1.9M | $2.5M | $4.3M | $20.5M | $21.8M | $21.2M | $22.6M | $23.7M | $25.0M | $8.7M | $9.5M |
| Other long-term liabilities | $1.1M | $693,000 | $1.4M | $2.8M | $16.3M | $17.3M | $17.8M | $19.2M | $23.7M | $24.4M | $8.4M | $9.5M |
| Total liabilities | $31.6M | $34.6M | $37.1M | $42.8M | $62.0M | $62.9M | $64.7M | $69.7M | $64.2M | $67.2M | $48.5M | $56.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $81,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $18,000 |
| Retained earnings (deficit) | −$239.9M | −$233.7M | −$228.7M | −$219.0M | −$221.1M | −$213.6M | −$203.4M | −$184.4M | −$173.9M | −$164.3M | −$153.3M | −$139.4M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | — | — |
| Total shareholders' equity | $22.9M | $19.8M | $23.3M | $31.1M | $18.3M | $24.8M | $33.6M | $50.8M | $59.2M | $67.8M | $45.2M | $57.6M |
| Key figures | ||||||||||||
| Total debt | $18.2M | $19.2M | $22.0M | $26.0M | $42.0M | $42.9M | $43.0M | $45.3M | $45.8M | $46.4M | $30.5M | $40.1M |
| Net cash (debt) | −$5.0M | −$9.3M | −$7.9M | −$11.9M | −$33.3M | −$38.1M | −$32.0M | −$36.9M | −$26.2M | −$280,000 | −$18.9M | −$17.6M |
| Working capital | $22.5M | $21.3M | $26.2M | $36.6M | $36.6M | $27.7M | $35.6M | $47.4M | $80.1M | $90.5M | $52.1M | $64.3M |
| Tangible book value | $22.9M | $19.8M | $23.3M | $31.1M | $18.3M | $24.8M | $33.6M | $50.8M | $59.2M | $67.8M | $45.2M | $57.6M |
| Book value per share | $1.82 | $1.71 | $2.05 | $3.18 | $2.21 | $3.07 | $4.18 | $6.37 | $7.53 | $11.10 | $7.62 | $9.80 |
| Shares outstanding | 12.6M | 11.6M | 11.3M | 9.8M | 8.3M | 8.1M | 8.0M | 8.0M | 7.9M | 6.1M | 5.9M | 5.9M |
| Current ratio | 2.00 | 1.89 | 2.11 | 2.41 | 2.22 | 1.61 | 1.76 | 1.94 | 4.99 | 5.06 | 3.66 | 3.37 |
| Quick ratio | 0.80 | 0.74 | 0.87 | 1.17 | 0.96 | 0.65 | 0.86 | 0.94 | 2.48 | 3.00 | 1.41 | 1.29 |
| Debt / equity | 0.80 | 0.97 | 0.94 | 0.84 | 2.29 | 1.73 | 1.28 | 0.89 | 0.77 | 0.69 | 0.68 | 0.70 |
| Equity / assets | 42.0% | 36.4% | 38.6% | 42.1% | 22.8% | 28.3% | 34.2% | 42.2% | 48.0% | 50.2% | 48.2% | 50.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
XOS financial position
At the end of fiscal 2025 (December 31, 2025), Xos had total assets of $60.4 million (down 38.6% from a year earlier), total liabilities of $37.1 million and shareholders' equity of $23.3 million. It held $14.0 million in cash and short-term investments against $22.0 million of debt, net debt of $7.9 million. Its current ratio was 2.11. In the latest quarter (ended June 30, 2026) total assets were $54.4 million and equity $22.9 million.
Related: XOS income statement, XOS cash flow statement, XOS key metrics. See the XOS stock overview for the latest quote and news.
XOS balance sheet FAQ
What are Xos's total assets?
Xos reported total assets of $60.4 million at the end of fiscal 2025 (December 31, 2025), compared with $98.3 million a year earlier.
How much debt does Xos have?
Xos had $22.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.94.
How much cash does Xos have?
Xos held $14.0 million in cash and short-term investments at the end of fiscal 2025; with $22.0 million of debt that is net debt of $7.9 million.
What is Xos's book value?
Xos's shareholders' equity (book value) was $23.3 million at the end of fiscal 2025, or $2.49 per share.
What is Xos's current ratio?
Xos had current assets of $49.9 million and current liabilities of $23.7 million, a current ratio of 2.11 (it can cover its short-term obligations).