Xos reported a significant revenue miss for the second quarter of 2026, generating $4.7 million against expectations of $12.1 million. The shortfall was attributed to delivery deferrals into later quarters, as the company delivered only 30 units during the period. Despite the lower volume, Xos achieved its second consecutive quarter of positive gross margin and reduced operating expenses, though it was forced to lower its full-year 2026 guidance for both revenue and unit deliveries.
Key Highlights
- Revenue fell 74.2% year-over-year to $4.7 million, well below the $12.1 million analyst consensus.
- Full-year 2026 revenue guidance was revised downward to $35–$43 million from the previous $40–$50 million range.
- Annual delivery expectations were cut to 250–350 units, down from the prior forecast of 400–600 units.
- GAAP gross margin for the quarter improved to 12.1% from 8.9% a year ago, while first-half 2026 gross margin reached 31.0%.
- The company launched the Power Hub, a 3.1 MWh mobile energy storage unit targeted at data centers and industrial facilities.
- Net liquidity was supported by raising $7.6 million in proceeds during the quarter, ending with $13.2 million in cash.