Xos, Inc. (XOS) Income Statement
XOS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsXOS revenue and net income
Where XOS's revenue goes
2025Each bar shows an amount and its share of revenue. XOS kept −55.1% of revenue as net income.
XOS profit margins
XOS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −17.8% | +8.1% | +77.1% | — |
| Gross profit | −31.3% | — | +55.5% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
XOS quarterly EPS vs estimates
Xos beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.45).
XOS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $46.0M | $56.0M | $44.5M | $36.4M | $5.0M | $2.6M | $1.1M | $308,000 |
| Cost of revenue | $43.3M | $52.0M | $45.8M | $66.4M | $7.4M | $2.3M | $806,000 | $92,000 |
| Gross profit | $2.7M | $4.0M | −$1.3M | −$30.0M | −$2.4M | $300,000 | $341,000 | $216,000 |
| Research & development | $8.0M | $10.6M | $19.6M | $30.7M | $20.1M | $7.0M | $362,000 | $1.5M |
| Sales, general & admin | $27.8M | $39.2M | $44.1M | $50.6M | $30.7M | $5.2M | $4.1M | $2.1M |
| Total operating expenses | $35.8M | $49.8M | $63.7M | $81.3M | $50.8M | $12.2M | $4.7M | $3.8M |
| Operating income | −$33.1M | −$45.9M | −$65.0M | −$111.3M | −$53.2M | −$11.9M | −$4.4M | −$3.6M |
| Interest expense | — | $214,000 | $9.1M | $4.5M | $153.8M | $3.3M | $0 | $0 |
| Income before taxes | −$25.3M | −$50.1M | −$75.8M | −$73.3M | $23.4M | −$16.7M | −$4.9M | −$3.9M |
| Income taxes | $23,000 | $37,000 | $21,000 | $8,000 | $2,000 | $1.5M | — | — |
| Net income | −$25.3M | −$50.2M | −$75.8M | −$73.3M | $23.4M | −$16.7M | −$4.9M | −$3.9M |
| EBITDA | −$21.5M | −$44.8M | −$61.8M | −$65.2M | $24.1M | −$11.6M | −$4.1M | −$3.5M |
| EPS (diluted) | −$2.40 | −$5.66 | −$13.28 | −$15.30 | −$4.24 | −$0.01 | — | — |
| Gross margin | 5.9% | 7.1% | −2.9% | −82.6% | −46.8% | 11.4% | 29.7% | 70.1% |
| Operating margin | −71.9% | −82.0% | −145.9% | −306.1% | −1,053.0% | −449.5% | −381.3% | −1,167.9% |
| Net margin | −55.1% | −89.6% | −170.3% | −201.6% | 463.6% | −631.1% | −430.1% | −1,281.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7M | $11.2M | $5.2M | $16.5M | $18.4M | $5.9M | $11.5M | $15.8M | $15.5M | $13.2M | $18.4M | $16.7M |
| Cost of revenue | $4.2M | $6.9M | $7.9M | $14.0M | $16.8M | $4.7M | $15.2M | $12.9M | $13.5M | $10.4M | $17.0M | $14.7M |
| Gross profit | $573,000 | $4.3M | −$2.6M | $2.5M | $1.6M | $1.2M | −$3.7M | $2.9M | $2.0M | $2.8M | $1.3M | $2.0M |
| Research & development | $1.9M | $2.0M | $1.9M | $2.1M | $2.1M | $1.9M | $1.9M | $2.6M | $3.0M | $3.1M | $4.1M | $4.5M |
| Sales, general & admin | $6.6M | $7.0M | $5.2M | $7.4M | $6.6M | $8.6M | $8.9M | $9.9M | $10.4M | $10.0M | $9.0M | $10.1M |
| Total operating expenses | $8.5M | $9.0M | $7.1M | $9.5M | $8.7M | $10.5M | $10.9M | $12.6M | $13.4M | $13.0M | $13.2M | $14.6M |
| Operating income | −$7.9M | −$4.7M | −$9.7M | −$7.0M | −$7.1M | −$9.3M | −$14.6M | −$9.7M | −$11.4M | −$10.2M | −$11.8M | −$12.6M |
| Interest expense | — | — | — | $500,000 | $500,000 | $500,000 | — | — | $500,000 | $500,000 | $1.6M | $1.5M |
| Income before taxes | −$6.9M | −$4.9M | −$9.8M | $2.1M | −$7.5M | −$10.2M | −$19.0M | −$10.5M | −$9.7M | −$11.0M | −$13.8M | −$14.1M |
| Income taxes | $27,000 | $5,000 | — | −$2,000 | $13,000 | $12,000 | $24,000 | $4,000 | $4,000 | $5,000 | $14,000 | $3,000 |
| Net income | −$6.9M | −$5.0M | −$9.8M | $2.1M | −$7.5M | −$10.2M | −$19.0M | −$10.5M | −$9.7M | −$11.0M | −$13.8M | −$14.1M |
| EBITDA | −$8.1M | −$4.0M | −$9.7M | $3.1M | −$6.4M | −$8.8M | −$17.6M | −$9.3M | −$7.9M | −$9.2M | −$12.0M | −$10.9M |
| EPS (diluted) | −$0.55 | −$0.43 | −$0.86 | $0.45 | −$0.88 | −$1.11 | −$1.34 | −$1.30 | −$1.25 | −$1.77 | −$2.33 | −$2.36 |
| Gross margin | 12.1% | 38.6% | −50.5% | 15.3% | 8.8% | 20.6% | −32.4% | 18.1% | 13.1% | 21.2% | 7.2% | 11.9% |
| Operating margin | −167.7% | −41.7% | −186.6% | −42.4% | −38.5% | −157.7% | −127.0% | −61.4% | −73.2% | −77.8% | −64.4% | −75.6% |
| Net margin | −145.4% | −44.1% | −186.8% | 12.9% | −40.8% | −173.3% | −165.4% | −66.6% | −62.2% | −83.6% | −75.2% | −84.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in XOS's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
XOS financial results
In fiscal year 2025 (ended December 31, 2025), Xos reported revenue of $46.0 million, down 17.8% from the year before. It had a net loss of $25.3 million, a net profit margin of −55.1%. Diluted earnings per share came to −$2.40. Over five years revenue grew at an average rate of 77.1% a year.
See the XOS stock overview for the latest quote and news, or the XOS chart for price history and technical indicators.
XOS income statement FAQ
What is Xos's annual revenue?
Xos reported total revenue of $46.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 17.8% from $56.0 million the previous year.
Is Xos profitable?
No. Xos reported a net loss of $25.3 million in fiscal 2025, a net profit margin of −55.1%; its operating margin was −71.9%.
What is Xos's gross margin?
Xos's gross margin was 5.9% in fiscal 2025: for every $100 of revenue, Xos kept $6 after the direct cost of its products and services.
How much does Xos spend on research and development?
Xos spent $8.0 million on research and development in fiscal 2025, 17.4% of revenue.
How fast is Xos growing?
Revenue grew 77.1% a year on average over the last five fiscal years, from $2.6 million to $46.0 million.
What are Xos's earnings per share?
Xos earned $-2.40 per diluted share in fiscal 2025, compared with $-5.66 a year earlier.
When will Xos report its next earnings?
Xos is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Xos's fiscal year end?
Xos's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.