Xos Q2 2026 revenue falls short, shares slump in after-hours trade

Xos Inc. reported second-quarter 2026 revenue that missed analyst estimates, sending its shares down sharply in after-hours trading on Thursday.

The electric truck manufacturer posted revenue of $12.4 million for the quarter ended June 30, 2026, below the $15.1 million consensus forecast compiled by Refinitiv. The company attributed the shortfall to slower-than-anticipated deliveries and supply chain constraints, which constrained production schedules.

Gross margin for the period narrowed to 18.7% from 22.3% in the same quarter a year earlier, reflecting higher material costs and elevated logistics expenses. Xos also reported a net loss of $18.6 million, or 11 cents per share, compared with a net loss of $12.9 million, or 8 cents per share, in Q2 2025.

Analysts had expected a net loss of 9 cents per share for the quarter. The company’s cash and cash equivalents totaled $112.3 million as of June 30, 2026, down from $138.7 million at the end of the prior quarter.

Xos’s stock fell as much as 12% in extended trading following the release, extending a broader decline in electric vehicle sector equities. The company maintained its full-year 2026 revenue guidance of $60 million to $70 million, though it cautioned that achieving the midpoint would require a significant ramp-up in deliveries during the second half of the year.

Chief Executive Officer Dakota Semler stated that while operational challenges persisted, the company remained focused on scaling production and securing long-term supply agreements to stabilize margins.

Investors will closely monitor Xos’s ability to execute on its revised production targets and whether the guidance revision reflects broader demand softness in the commercial electric vehicle market.