Xos Swings to Positive 2025 Free Cash Flow as It Maps 2026 Growth
The shift reflects a move from building whole trucks to selling powertrains and mobile energy units.
Overview
- The company reported a $54 million swing to positive free cash flow for 2025.
- Management guided to 350 to 500 deliveries and $40 million to $50 million in 2026 revenue.
- Xos is expanding beyond step vans into powertrains and Xos Hub mobile batteries, with new 210 to 630 kWh models aimed at data centers, construction and disaster use.
- A deal with school bus maker Blue Bird validated its powertrain at scale, and Xos said it has booked nearly 100 more school bus electrification orders since Q2 2025.
- Xos eased near-term liquidity pressure by extending a 2025 convertible note into quarterly payments through February 2028.