Press Release: Xos, Inc. delivers strong unit delivery and promising gross profit performance in the third quarter of 2024

(1) Shares for the three and nine months ended September 30, 2023 have been retrospectively adjusted for the 1-for-30 reverse stock split that occurred on December 6, 2023.

Reconciliation of Operating Cash Flow less CapEx (Free Cash Flow), Non-GAAP Operating Loss and Non-GAAP Gross Profit (Loss):

Operating Cash Flow less CapEx (Free Cash Flow):

 
                                                            Three Months 
                 Three Months Ended    Nine Months Ended     Ended June 
                    September 30,         September 30,         30, 
                 -------------------  --------------------  ------------ 
(in thousands)     2024       2023      2024       2023       2024 
                             ------               -------    ------- 
Net cash used 
 in operating 
 activities      $(11,517)  $(8,613)  $(52,093)  $(38,655)  $(25,987) 
Purchase of 
 property and 
 equipment           (148)      190       (304)    (1,164)      (126) 
                  -------    ------    -------    -------    ------- 
Free-Cash Flow   $(11,665)  $(8,423)  $(52,397)  $(39,819)  $(26,113) 
                  -------    ------    -------    -------    -------

Non-GAAP Operating Loss:

 
                                                            Three Months 
                 Three Months Ended    Nine Months Ended     Ended June 
                    September 30,         September 30,         30, 
                 -------------------  --------------------  ------------ 
(in thousands)     2024      2023       2024       2023       2024 
                            -------               -------    ------- 
Loss from 
 operations      $(9,691)  $(12,625)  $(31,302)  $(53,137)  $(11,368) 
Stock-based 
 compensation      2,247      2,242      5,887      6,308      1,634 
Inventory 
 reserves            424     (1,097)      (812)    (1,155)      (433) 
Physical 
 inventory and 
 other 
 adjustments         377        261        509        839        430 
                  ------    -------    -------    -------    ------- 
Non-GAAP 
 Operating 
 Loss            $(6,643)  $(11,219)  $(25,718)  $(47,145)  $ (9,737) 
                  ------    -------    -------    -------    -------

Non-GAAP Gross Profit (Loss):

 
                                                        Three 
                   Three Months                         Months 
                 Ended September   Nine Months Ended  Ended June 
                       30,           September 30,       30, 
                 ----------------  -----------------  ---------- 
(in thousands)    2024     2023     2024      2023     2024 
                          ------             ------    ----- 
Gross profit 
 (loss)          $2,864  $ 1,985   $7,682   $(2,617)  $2,030 
Inventory 
 reserves           424   (1,097)    (812)   (1,155)    (433) 
Physical 
 inventory and 
 other 
 adjustments        377      261      509       839      430 
                  -----   ------    -----    ------    ----- 
Non-GAAP Gross 
 Profit (Loss)   $3,665  $ 1,149   $7,379   $(2,933)  $2,027 
                  -----   ------    -----    ------

(MORE TO FOLLOW) Dow Jones Newswires

November 13, 2024 16:25 ET (21:25 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Tiger Brokers

Press Release: Xos, Inc. delivers strong unit delivery and promising gross profit performance in the third quarter of 2024

At the request of the copyright holder, you need to log in to view this content

Most Discussed