Xos, Inc. (XOS) is an electric automobile company which aims to the global decarbonization of the trucking fleets. The company manufactures medium- and heavy-duty commercial scale electric battery mobility systems. The company’s products are zero-emission electric vehicles which are cost-efficient and easily manageable.
The price of XOS stock during the regular trading on January 11, 2022 was $2.51. At last check in the aftermarket, the stock was up by 0.40%.
XOS: Events and Happenings
On December 21, 2021, XOS reported its key milestones of 2021. The company achieved major feats such as new headquarters and manufacturing facilities, launching Lyra Series battery program, 212 truck orders from FedEx and public listing on the NASDAQ.
XOS: CEO Comments
Speaking at the occasion XOS CEO Dakota Semler said that 2021 was a robust year of growth for the company. He further added that the company is hopeful in its new year’s production and partnerships.
On December 14, 2021, XOS reported about the signing an acquisition order with Southern Glazer’s Wine & Spirits. This preliminary testing will determine forthcoming deployments of company’s EV’s into Southern Glazer’s national fleet.
On December 13, 2021, XOS reported about collaborating with Merchants Fleet. It is a leading fleet management firm. According to the terms of the partnership, Merchants Fleet will acquire EV step vans from the company, with the delivery of first batch of 10 vans is expected in 2022.
On December 07, 2021, XOS reported about its entry into a collaboration with Austell, Ga.-based Yancey Bros. Company which is one of the oldest Caterpillar dealers. On December 02, 2021, XOS reported that it received an acquisition order from Route Consultant for its last mile delivery vehicles.
XOS: Key Financials
On November 11, 2021, XOS reported its financial results for the quarter ended September 30, 2021. Some of the key highlights are as follows
Revenue and Assets
The revenue of company for Q3 2021 was $0.35 as compared to the same period of prior year when revenue was $1.1 million. The total current assets of the company for Q3 2021 were $246 million.
Net Income/Loss per Share
Basic and diluted net income for Q3 2021 was $34.8 million or $0.31 per share as compared to the same period prior year when net loss was $3.9 million or $0.05 per share.
Conclusion
The stock of XOS dipped 74% from the past six months mainly due to the prevailing pandemic situation which ceased the economic growth. The current aftermarket incline of the stock is impacted by the uncertainty in the market environment. The company’s stock has the potential to develop the interest of leading investors of the industry as expected by the financial experts.
