Xos, Inc (XOS)

[WeTheMarket]

EV stocks - 3 EV Stocks Still Flying Under Wall Street’s Radar
12 hrs ago
https://investorplace.com/2023/11/3-ev-stocks-still-flying-under-wall-streets-radar/

Electric vehicles (EVs) are reshaping the automotive landscape, and the hunt for under-the-radar EV stocks to buy remains as thrilling as ever. Amidst the bustling EV realm, many businesses are vying for a slice of the future. The real gems are those lesser-known players making major strides. These under-the-radar companies, often overshadowed by industry giants, are efficiently ramping up production, building on their technology, and steadily growing their revenue base.

The EV sector, fiercely competitive and rapidly evolving, is fraught with startups that promise the moon yet falter under financial turmoil. However, certain under-the-radar firms are navigating the challenges adeptly amidst this landscape, moving steadily towards a more promising future.

Xos (NASDAQ:XOS) is a rising star in the EV sector, a specialist in manufacturing Class 5 to Class 8 battery-electric commercial vehicles while offering fleet services and software solutions. A significant aspect of their business involves building commercial vehicles for notable clients, including Loomis, a prominent cash transportation company.

Moreover, Xos has recently introduced its mobile fleet management application, Xoshere Go, building on fleet performance and health monitoring for customers and authorized dealers on the move.

In a recent financial update, Xos reported a third-quarter GAAP EPS of negative eight cents, surpassing expectations by two cents. The company’s revenue stood at an impressive $16.7 million, marking a 51.8% year-over-year increase while exceeding forecasts by $4.75 million. A key highlight for Xos in the third quarter of 2023 was the delivery of 105 units to end customers, the highest in any quarter to date.

The new Xos 2023 step van is engineered to substantially build on traditional diesel trucks’ performance metrics, propelling the firm toward positive free cash flows. Acting CFO Liana Pogosyan anticipates sustained and improving margins as demand for medium-duty EVs escalates. This optimistic outlook and the company’s spectacular recent achievements make Xos a compelling long-term option for investors eyeing the commercial EV sphere.