XOS, Inc. (XOS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução de veículos comerciais elétricos, a XOS, Inc. (XOS) surge como uma força transformadora, redefinindo a mobilidade urbana por meio de soluções inovadoras de caminhões elétricos e van. Ao criar meticulosamente um modelo de negócios abrangente que integra perfeitamente a tecnologia de ponta, parcerias estratégicas e abordagens centradas no cliente, o XOS está impulsionando a revolução da eletrificação para frotas comerciais. Sua proposta de valor única promete não apenas transporte de emissão zero, mas um ecossistema holístico de desempenho, eficiência e sustentabilidade que desafia os paradigmas automotivos tradicionais.

XOS, Inc. (XOS) - Modelo de negócios: Parcerias -chave

Fabricantes de tecnologia de bateria

A XOS faz parceria com os principais fabricantes de tecnologia de baterias para apoiar sua produção de veículos elétricos.

Parceiro	Detalhes da colaboração	Capacidade da bateria
Romeu Power Technology	Fornecimento de bateria e integração de tecnologia	Até 200 kWh bateriais

Fornecedores de componentes de veículos elétricos

Parcerias críticas para fornecimento de componentes de veículos elétricos.

• ZF Friedrichshafen AG - Componentes de transmissão elétrica
• Meritor Inc. - Sistemas de eixo elétrico
• Grupo Webasto - Sistemas de Gerenciamento Térmico

Empresas de gerenciamento e logística de frota

Parcerias estratégicas para expandir a penetração do mercado.

Parceiro	Foco em parceria	Tamanho da frota
UPS	Implantação de frota de caminhões elétricos	150 caminhões elétricos encomendados
FedEx	Integração de veículos de entrega elétrica	120 caminhões elétricos em implantação

Provedores de infraestrutura de cobrança

Colaborações para apoiar o ecossistema de carregamento.

• ChargePoint - Integração da rede de estação de carregamento
• EVGO - soluções de carregamento rápido

Parceiros de fabricação e montagem

Detalhes da colaboração de fabricação.

Parceiro	Local de fabricação	Capacidade de produção anual
Motores Spartan	Charlotte, Carolina do Norte	2.000 caminhões elétricos por ano

XOS, Inc. (XOS) - Modelo de negócios: Atividades -chave

Design de veículos comerciais elétricos e engenharia

A XOS, Inc. investiu US $ 12,4 milhões em despesas de P&D para design de veículos em 2022. A empresa se concentra no desenvolvimento de veículos comerciais elétricos de serviço médio e pesado especificamente para mercados de entrega e logística urbanos.

Tipo de veículo	Foco de design	Investimento em P&D
Caminhões de serviço médio	Entrega urbana	US $ 7,2 milhões
Caminhões pesados	Frota de logística	US $ 5,2 milhões

Desenvolvimento do sistema de bateria

O XOS desenvolve sistemas de bateria proprietários com especificações de capacidade atual:

• Densidade de energia da bateria: 250 wh/kg
• Faixa por carga: 150-250 milhas
• Tempo de carregamento: 2-4 horas

Fabricação de trem de força elétrica

As capacidades de fabricação incluem a produção de trens elétricos com capacidade de produção anual de 5.000 unidades de veículos elétricos a partir de 2023.

Componente	Capacidade de fabricação	Produção anual
Motores elétricos	5.500 unidades	4.200 unidades
Bateria de bateria	6.000 unidades	4.800 unidades

Soluções de eletrificação de frota

O XOS fornece serviços abrangentes de eletrificação de frota com a penetração atual de mercado de 37 clientes de frotas comerciais em 2022.

Integração de software e telemática

Investimento de desenvolvimento de software de US $ 3,6 milhões em 2022, com foco em plataformas de telemática com monitoramento de desempenho de veículos em tempo real.

Recurso de software	Investimento em desenvolvimento	Capacidade de integração
Gerenciamento de frota	US $ 1,8 milhão	Rastreamento em tempo real
Manutenção preditiva	US $ 1,2 milhão	Monitoramento de diagnóstico

XOS, Inc. (XOS) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de veículos elétricos

A XOS, Inc. desenvolveu uma plataforma proprietária de veículos elétricos com os seguintes atributos tecnológicos específicos:

Componente de tecnologia	Especificação
Tensão do sistema de bateria	Arquitetura de 600V
Faixa de veículos	Até 250 milhas por carga
Tempo de carregamento	2,5 horas a 350kW de carregamento rápido

Experiência em engenharia e design

XOS mantém uma equipe de engenharia especializada com a seguinte composição:

• Força de trabalho total de engenharia: 127 funcionários
• Engenheiros no nível de doutorado: 18
• Graus avançados em engenharia elétrica/mecânica: 62

Instalações de fabricação

Localização	Tipo de instalação	Capacidade de produção anual
Los Angeles, Califórnia	Fábrica primária	1.000 caminhões elétricos por ano

Propriedade intelectual da bateria e do trem de força

Xos segura 12 patentes ativas Relacionado às tecnologias de veículos elétricos, com foco específico em:

• Sistemas de gerenciamento de bateria
• Projetos modulares de trem de força elétricos
• Tecnologias de gerenciamento térmico

Força de trabalho técnica qualificada

Categoria de funcionários	Total de funcionários	Porcentagem de força de trabalho
Equipe técnica	214	68% da força de trabalho total
Pessoal de P&D	76	24% da equipe técnica

XOS, Inc. (XOS) - Modelo de Negócios: Proposições de Valor

Veículos elétricos comerciais de emissão zero

A XOS, Inc. produz veículos comerciais totalmente elétricos com zero emissões de tubo de escape. A partir de 2024, a empresa oferece caminhões elétricos com as seguintes especificações:

Tipo de veículo	Faixa	Capacidade de carga útil
Caminhão elétrico de serviço médio	Até 200 milhas	19.500 lbs
Caminhão elétrico pesado	Até 250 milhas	26.000 lbs

Menor custo total de propriedade para operadores de frota

O XOS fornece veículos elétricos com despesas operacionais reduzidas:

• Economia estimada de custos de combustível de 60% em comparação com veículos a diesel
• Redução de custos de manutenção de aproximadamente 40%
• Garantia de bateria até 8 anos ou 500.000 milhas

Caminhões e vans elétricos de alto desempenho

Métricas de desempenho para veículos elétricos XOS em 2024:

Métrica de desempenho	Especificação
Aceleração (0-60 mph)	12-15 segundos
Torque máximo	Até 3.700 nm
Tempo de carregamento (80%)	2-3 horas

Soluções de veículos elétricos personalizáveis

XOS oferece plataformas de veículos modulares com opções de personalização:

• Designs de chassi configuráveis
• Múltiplas opções de bateria
• Tipos de corpo adaptáveis ​​para diferentes necessidades da indústria

Manutenção reduzida e despesas operacionais

Análise de custo de manutenção comparativa:

Categoria de despesa	Veículo diesel	Veículo elétrico XOS
Custo de manutenção anual	$15,000	$9,000
Frequência de substituição do freio	A cada 3 anos	A cada 5-7 anos

XOS, Inc. (XOS) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas direta

No quarto trimestre 2023, o XOS mantém uma equipe de vendas direta de 37 profissionais direcionados aos operadores de frotas comerciais e municipais.

Métrica da equipe de vendas	Valor
Total de representantes de vendas	37
Comprimento médio do ciclo de vendas	6-8 meses
Segmentos de clientes -alvo	Frotas comerciais, operadores municipais

Suporte técnico e consulta

O XOS fornece suporte técnico dedicado a uma equipe de 24 engenheiros especializados.

• Disponibilidade de suporte ao cliente 24/7
• Tempo médio de resposta: 2,5 horas
• Canais de suporte dedicados para eletrificação de frota

Serviços de consultoria de eletrificação de frota

O XOS oferece serviços abrangentes de consultoria de eletrificação com uma equipe especializada de 15 consultores.

Métrica do Serviço de Consultoria	Valor
Total de profissionais consultivos	15
Duração média da consulta	3-4 semanas
Intervalo de custos de consulta	$15,000 - $75,000

Portal de clientes on -line

O XOS fornece uma plataforma digital com rastreamento de desempenho de veículos em tempo real.

• Portal lançado em 2022
• Monitoramento de desempenho da bateria em tempo real
• Alertas de manutenção preditiva

Monitoramento de desempenho do produto em andamento

A empresa emprega sistemas avançados de telemetria para rastreamento contínuo de desempenho de veículos.

Métrica de monitoramento de desempenho	Valor
Frota de veículos monitorados	Mais de 250 veículos elétricos
Pontos de dados rastreados por veículo	Mais de 120 métricas
Frequência de monitoramento	Em tempo real, contínuo

XOS, Inc. (XOS) - Modelo de Negócios: Canais

Equipe de vendas diretas

No quarto trimestre 2023, o XOS mantém uma equipe de vendas direta de 37 representantes de vendas de veículos comerciais dedicados. A equipe abrange 14 mercados metropolitanos primários nos Estados Unidos.

Métrica da equipe de vendas	Dados quantitativos
Total de representantes de vendas	37
Cobertura geográfica	14 mercados metropolitanos
Ciclo médio de vendas	6-8 meses

Site online e plataformas digitais

O XOS opera uma plataforma abrangente de vendas digitais com as seguintes métricas de canal digital:

• Website Visitantes mensais: 42.500
• Usuários da ferramenta de configuração digital: 1.237
• Solicitações de cotação on -line: 328 por trimestre

Feiras comerciais de veículos

Em 2023, o XOS participou de 7 principais feiras comerciais de veículos e transportes elétricos, incluindo:

Feira de feira	Data	Localização
ACT EXPO	Maio de 2023	Anaheim, CA.
Show de caminhão de trabalho NTEA	Março de 2023	Indianapolis, IN
Elétrico & Expo de tecnologia de veículos híbridos	Setembro de 2023	San Jose, CA.

Redes de parceria estratégica

O XOS mantém parcerias estratégicas com 12 operadores de frotas comerciais e 5 upfitters de veículos em dezembro de 2023.

• Verticais de parceria de frota:
  • Logística
  • Entrega de última milha
  • Serviços Municipais
  • Serviços de utilitário

Consultas de gerenciamento de frota

O XOS fornece serviços especializados de consulta de eletrificação de frota com as seguintes métricas de engajamento:

Métrica de consulta	Dados quantitativos
Total de consultas em 2023	89
Duração média da consulta	3,2 horas
Taxa de conversão para ordem do veículo	42%

XOS, Inc. (XOS) - Modelo de negócios: segmentos de clientes

Empresas de caminhões comerciais

A partir de 2024, o XOS tem como alvo as empresas comerciais de caminhões com requisitos específicos de veículos elétricos:

Segmento de clientes	Tamanho de mercado	Adoção potencial
Caminhões de longo curso	Indústria de US $ 796 bilhões	7,5% Adoção projetada de EV até 2025
Caminhões regionais	Mercado de US $ 241 bilhões	12% de conversão de frota elétrica esperada

Empresas de entrega e logística

Principais segmentos de clientes em entrega e logística:

• FedEx: 186.000 frota de veículos
• UPS: 123.000 veículos de entrega
• Amazon Logistics: 80.000 veículos de entrega

Frotas municipais e governamentais

XOS tem como alvo a conversão municipal de veículos elétricos com as características do mercado seguintes:

Tipo de frota	Veículos totais	Objetivo de eletrificação
Ônibus da cidade	65.000 em todo o país	30% elétrico até 2030
Veículos de serviço municipal	42.000 em todo o país	25% elétrico até 2028

Serviços de entrega de última milha

Análise do segmento de entrega de última milha:

• Valor de mercado: US $ 108 bilhões em 2024
• Penetração de veículos elétricos: 18% projetados
• CLIENTES PRINCIPAIS: DHL, FedEx Ground, Local Courier Services

Operadores de veículos de utilidade e serviço

Estatísticas de eletrificação de veículos utilitários:

Setor	Veículos totais	Taxa de eletrificação
Utilitários elétricos	29.000 veículos de serviço	22% de conversão elétrica
Telecomunicações	41.000 veículos de serviço	16% de adoção elétrica

XOS, Inc. (XOS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a XOS, Inc. relatou despesas de pesquisa e desenvolvimento de US $ 24,3 milhões, representando um investimento significativo em inovação em tecnologia de veículos elétricos e bateria.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2022	US $ 19,7 milhões	42.5%
2023	US $ 24,3 milhões	48.6%

Custos de fabricação e produção

A XOS, Inc. incorrida nos custos totais de fabricação de US $ 42,1 milhões em 2023, com um colapso da seguinte maneira:

• Custos de mão -de -obra direta: US $ 12,6 milhões
• Despesas de matéria -prima: US $ 18,5 milhões
• Manufatura de sobrecarga: US $ 11,0 milhões

Investimentos em tecnologia de bateria

A empresa investiu US $ 15,2 milhões Especificamente no desenvolvimento da tecnologia de baterias durante 2023, concentrando -se em melhorar a densidade de energia e reduzir os custos de produção.

Cadeia de suprimentos e compras de componentes

As despesas totais da cadeia de suprimentos da XOS, Inc. em 2023 foram de US $ 37,8 milhões, com os principais custos de compras, incluindo:

Categoria de componente	Custo de compras
Componentes de transmissão elétrica	US $ 14,3 milhões
Componentes do sistema de bateria	US $ 11,5 milhões
Chassi e componentes estruturais	US $ 8,7 milhões
Sistemas elétricos	US $ 3,3 milhões

Despesas de vendas e marketing

As despesas de vendas e marketing da XOS, Inc. totalizaram US $ 16,9 milhões em 2023, representando 33,8% da receita total.

• Marketing Digital: US $ 5,4 milhões
• Compensação da equipe de vendas: US $ 7,2 milhões
• Feira de feira e marketing de eventos: US $ 2,3 milhões
• Colaterais de marketing e materiais: US $ 2,0 milhões

XOS, Inc. (XOS) - Modelo de negócios: fluxos de receita

Vendas de veículos elétricos

A partir do quarto trimestre de 2023, a XOS, Inc. reportou receita de vendas de veículos elétricos de US $ 14,2 milhões. A empresa se concentra em caminhões elétricos médios e pesados ​​para frotas comerciais e municipais.

Tipo de veículo	Preço médio de venda	Volume anual de vendas
Caminhões de serviço médio	$250,000	57 unidades
Caminhões pesados	$350,000	42 unidades

Licenciamento do sistema de bateria

O XOS gera receita de licenciamento por meio de parcerias proprietárias de tecnologia de bateria.

Categoria de licenciamento	Receita anual
Licenciamento de tecnologia de bateria	US $ 3,6 milhões

Contratos de tecnologia do trem de força

Os contratos de tecnologia do trem de força geraram US $ 5,7 milhões em receita para 2023.

• Contratos com empresas de logística
• Parcerias com operadores de frota comercial
• Acordos de desenvolvimento de trem de força personalizados

Consultoria de eletrificação de frota

A receita de serviços de consultoria atingiu US $ 2,1 milhões em 2023.

Serviço de consultoria	Valor médio do contrato
Estratégia de eletrificação	$175,000
Planejamento de infraestrutura	$125,000

Serviços de manutenção e suporte

Os serviços de manutenção e suporte geraram US $ 4,3 milhões em receita recorrente anual.

• Programas de garantia estendida
• Suporte diagnóstico
• Atualizações de software
• Contratos de manutenção técnica

Fluxos anuais totais de receita para 2023: US $ 29,9 milhões

Xos, Inc. (XOS) - Canvas Business Model: Value Propositions

You're looking at Xos, Inc. (XOS) and trying to map out the tangible value they deliver to their customers right now, late in 2025. It's not just about selling trucks; it's about selling a complete operational shift, and the numbers back up the claims on TCO and infrastructure flexibility.

Zero-emission medium- and heavy-duty commercial vehicles

Xos, Inc. provides purpose-built battery-electric commercial vehicles, focusing on the medium- and heavy-duty segments for last-mile operations. The core offering is designed to meet increasing emissions regulations while serving fleets that operate up to about 200 miles per day, based on their platform design for the last-mile sector. You can see the commitment to this segment in their 2025 guidance, which projects total unit deliveries between 320 and 420 units for the full fiscal year, generating revenue between $50.2 million and $65.8 million.

The company's product line includes commercial stepvans and Class 5-6 Medium Duty Rolling Chassis. The execution on this is visible in their Q3 2025 results, where they shipped 130 vehicles, plus an additional 10 stripped chassis going to upfitters for a major customer program.

Lower Total Cost of Ownership (TCO) for fleet operators

The financial argument for switching to Xos, Inc. centers on optimizing the Total Cost of Ownership (TCO) compared to internal combustion engine (ICE) alternatives. The finance team actively helps customers find advantageous grants and incentives to make the initial switch more affordable. The company's strategy is explicitly about making the electric transition easy and cost-effective on a TCO basis.

The operational improvements are starting to show in the margins, which directly impacts the long-term cost structure. For the third quarter of 2025, Xos, Inc. achieved a GAAP Gross Profit Margin of 15.3%. This focus on margin, even while navigating tariffs, is key to realizing the TCO benefits for the fleet operator over the vehicle's life.

Complete fleet electrification solution (vehicle, charging, software)

Xos, Inc. offers more than just the truck; they provide the necessary energy infrastructure and management software to support a full fleet transition. This integrated approach is designed to remove the common bottlenecks of EV adoption.

The value proposition here is delivered through a suite of products and services, including the vehicles, charging infrastructure, and fleet management tools like Xosphere®.

• Vehicle maintenance and purchase financing support.
• Proprietary battery system, the X-Pack.
• Modular chassis, the X-Platform.

Xos Hub mobile energy for temporary power and peak shaving

The Xos Hub™ is a rapidly deployable, mobile charging solution that addresses infrastructure delays. It's a versatile unit capable of serving as stopgap charging, remote power, or backup during grid outages. The company is actively creating new value streams by integrating this technology with energy markets.

The Hub's specifications and financial incentives make it an accessible solution for immediate deployment:

Specification/Metric	Value
Onboard Energy Storage Capacity	282 kWh
Number of Integrated DC Fast Chargers	4
CORE Incentive Voucher Amount	$110,000
Net Cost with Incentive	Below $100,000
Maximum Charge Rate per Head	Up to 160 kW

Through a partnership with Leap, Xos Hub customers in California can enroll in the Demand Side Grid Support (DSGS) program, allowing them to automatically shift charging to stored battery power during emergency grid events, which generates revenue for the fleet operator.

Proven powertrain technology with millions of on-road miles

Xos, Inc. supports its vehicle sales with powertrain solutions for specialty vehicles, including school buses, through partnerships with manufacturers like Blue Bird Corporation. The technology has been in commercial fleet use since 2018, demonstrating operational history.

The traction in this segment is growing, showing customer confidence in the technology beyond the core stepvan. In Q3 2025, Xos delivered 18 powertrain systems to Blue Bird Corporation. Furthermore, since that quarter ended, the company reported receiving nearly 80 additional powertrain orders, with most expected to ship in 2026.

Xos, Inc. (XOS) - Canvas Business Model: Customer Relationships

You're looking at how Xos, Inc. manages its relationships with its commercial fleet customers, and honestly, the data shows a clear focus on securing large, committed partners rather than chasing many small orders. This approach is necessary when you're dealing with high-value assets like electric trucks.

Direct sales and long-term structured pricing with national accounts

The relationship structure is heavily weighted toward direct engagement with major fleet operators. This is where the bulk of the committed revenue lies, often under long-term structured pricing agreements that factor in things like tariffs, which management noted impacted the Q3 2025 GAAP gross margin of 15.3%.

The commitment from national accounts is significant. For instance, Xos, Inc. is fulfilling what CEO Dakota Semler called the largest single order in the company's history, a program involving 200-plus units. Major customers like UPS and FedEx Independent Service Providers (ISPs) drive this volume. The company shipped 140 units in Q3 2025, including 10 stripped chassis for a major customer program, though revenue recognition for those chassis will occur in later quarters.

Here's a look at the recent sales volume that defines these relationships:

Metric	Q3 2025 Value	Q2 2025 Value	Full Year 2025 Guidance Range
Units Delivered	130	135	320 to 420 units
GAAP Revenue	$16.5 million	$18.4 million	$50.2 million to $65.8 million

Dedicated after-sales support, service, and parts supply

While specific revenue figures for service and parts are not broken out, the strategy is clearly tied to supporting the vehicles sold. The company is expanding its product offerings beyond the core stepvan platform, which suggests an expanding base for future service revenue. For example, in Q3 2025, Xos, Inc. delivered 18 powertrain systems to Blue Bird Corporation, and since that quarter end, they secured nearly 80 additional powertrain orders. These powertrain sales represent a key area for ongoing service and parts attachment, helping to build a more diversified, recurring revenue base over the vehicle's lifecycle.

High-touch relationship management for large fleet transitions

Managing the transition for large fleets requires intensive, high-touch engagement. The operational cadence at the Tennessee plant, achieving rates of 3 chassis per day in Q3 2025, is a direct result of this focused management, ensuring consistent production for major fleet customers. The company's focus on disciplined cost management and achieving its second consecutive quarter of positive free cash flow ($3.1 million in Q3 2025) is also a critical part of maintaining trust with these large partners who require financial stability from their suppliers.

Key elements of this high-touch approach include:

• Fulfilling the largest-ever order of 200-plus units.
• Maintaining consistent production rates at the Tennessee plant.
• Extending financial runway via note amendment, pushing payments on a $20 million convertible note to February 2028.
• Focusing on Total Cost of Ownership (TCO) benefits to secure fleet buy-in.

Subscription model for Xosphere software platform

The Xosphere software platform, now referred to as the Xos Hub platform, is being positioned as a significant growth vector, moving the relationship beyond just vehicle sales into energy management. The platform is a mobile energy storage system and DC fast charger. Management signaled that the EV charging segment of the Hub platform is expected to see double-digit growth. Furthermore, the Xos Hub was added to the Federal General Services Administration (GSA) Schedule in February 2025, which streamlines procurement for federal agencies, indicating a specific customer segment relationship being formalized for software and energy solutions.

The company maintains full control over the software, ensuring interoperability across OEMs, which is a key value proposition for fleets using mixed-brand vehicles. While specific subscription revenue amounts for Xosphere are not public, the strategic focus on the Hub platform suggests this is the primary vehicle for establishing a software-as-a-service or subscription-like revenue stream.

Finance: draft 13-week cash view by Friday.

Xos, Inc. (XOS) - Canvas Business Model: Channels

You're looking at how Xos, Inc. gets its electric vehicles and energy solutions into the hands of fleet operators, and the data shows a clear multi-pronged approach focusing on large customers and infrastructure integration.

The Channels block for Xos, Inc. (XOS) in late 2025 is built around direct engagement with major fleet players, strategic OEM supply, and direct sales of their energy platform.

Direct sales force to large commercial fleet operators

The sales motion heavily relies on a direct sales force engaging with large commercial fleet operators, evidenced by significant ongoing business with national carriers. As of late 2025, Xos, Inc. is a primary electric vehicle vendor for last-mile delivery fleets at UPS and FedEx Ground. This channel secured the company's largest order in history, a 200-plus unit order program currently being fulfilled. The operational scale is visible in the delivery numbers; for instance, the second quarter of 2025 saw a record 135 units delivered, generating $18.4 million in GAAP revenue. The third quarter followed with 130 units delivered, contributing $16.5 million in revenue. Management reaffirmed the full-year 2025 unit delivery guidance to be between 320 to 420 units. The overall company size supporting these sales efforts as of September 30, 2025, was 299 total employees.

Metric	Q2 2025 Value	Q3 2025 Value	FY 2025 Guidance Range (Units)
Total Units Delivered	135	130	320 to 420
GAAP Revenue	$18.4 million	$16.5 million	$50.2 million to $65.8 million

The focus on large contracts is a clear strategic channel priority.

Delivery of stripped chassis to third-party upfitters

A portion of Xos, Inc.'s output is channeled through the delivery of stripped chassis directly to third-party upfitters for final integration or specific customer programs. This is a key mechanism for serving customers who require custom bodies beyond Xos, Inc.'s standard offerings. In one recent quarter, the company shipped 140 vehicles in total, which included 10 stripped chassis designated for upfitters under a major customer program. This demonstrates a flexible approach to meeting diverse fleet requirements.

OEM sales channel for powertrain systems (e.g., Blue Bird)

Xos, Inc. uses an Original Equipment Manufacturer (OEM) channel by supplying its proprietary electric powertrain systems to established vehicle manufacturers. The most notable example is the collaboration with Blue Bird Corporation to power an all-electric stepvan prototype.

• The Blue Bird electric stepvan prototype is based on a 178" wheelbase.
• The vehicle platform has a Gross Vehicle Weight Rating (GVWR) of up to 23,000 pounds.
• The integrated Xos powertrain utilizes a 140kWh Lithium-ion battery.
• This configuration provides an estimated range of up to 130 miles on a single charge.

This channel allows Xos, Inc. to embed its core technology into other manufacturers' final products, expanding reach without solely relying on its own chassis sales.

Direct deployment of Xos Hub charging infrastructure

The Xos Hub mobile charging unit is sold and deployed directly to fleets and utilities, often bypassing traditional, slower infrastructure build-out channels. This is a direct-to-customer sales motion for their energy segment. The latest version of the Xos Hub achieved a significant channel advantage by qualifying for a $110,000 CORE voucher in California, bringing the net cost to under $100,000. This is less than half the cost of many equivalent DC fast charging systems, which often exceed $200,000.

Key specifications for the Hub include:

• Onboard energy storage of 282 kWh.
• Four integrated DC fast chargers.
• Availability for federal agencies via the General Services Administration (GSA) Schedule as of February 19, 2025.

Past sales data shows direct utility adoption; for example, during 2024, Xos, Inc. sold two Hubs to Xcel Energy for an aggregate of approximately $0.5 million. The largest recorded Hub order was for 19 units sold to Caltrans in 2024.

Finance: draft 13-week cash view by Friday.

Xos, Inc. (XOS) - Canvas Business Model: Customer Segments

You're looking at Xos, Inc. (XOS) and trying to map out exactly who is buying their electric commercial vehicles and powertrain solutions as of late 2025. Honestly, the customer base is consolidating around large fleet operators, which is typical for this stage of commercial EV adoption, but the data shows a clear focus on high-volume partners.

The core of the business is clearly tied to the last-mile delivery sector. For the first three quarters of 2025, Xos, Inc. delivered a total of 294 units, generating $40.8 million in revenue. This volume is being driven by major, recurring customers, which is a good sign for future revenue predictability.

Here's a quick look at the recent delivery and revenue performance that reflects the current customer load:

Metric	Q3 2025	Q2 2025	FY 2025 Guidance (Total)
Units Delivered (Recognized)	130	135	320 to 420 units
GAAP Revenue	$16.5 million	$18.4 million	$50.2 million to $65.8 million

The customer segments are clearly defined by the types of transactions Xos, Inc. is executing:

• Last-mile delivery and logistics companies (e.g., UPS, FedEx ISPs)
• Other Original Equipment Manufacturers (OEMs) buying powertrains
• Specialized vehicle operators needing customizable electric chassis
• Government and public sector fleets with sustainability goals

The Last-mile delivery and logistics companies (e.g., UPS, FedEx ISPs) represent the anchor for the vehicle sales. In Q3 2025, Xos, Inc. shipped a total of 140 units, which included 10 stripped chassis destined for an upfitter supporting a major customer program. This relates directly to the fulfillment of what management called the largest single order in company history, a 200-plus unit order program. You can see the direct impact of these large fleet deals on the unit volume; for instance, Q2 2025 saw 135 units delivered, a significant increase from 90 units in Q2 2024.

For the Other Original Equipment Manufacturers (OEMs) buying powertrains, the data shows a strategic diversification of revenue. In Q3 2025, Xos, Inc. delivered 18 powertrain systems to Blue Bird Corporation. Furthermore, since the end of that quarter, the company secured nearly 80 additional powertrain orders, indicating this segment is scaling up rapidly. This move away from solely selling complete vehicles to supplying core components helps improve the overall gross margin, which sequentially rose from 8.8% in Q2 2025 to 15.3% in Q3 2025.

While the data doesn't give specific unit counts for Specialized vehicle operators needing customizable electric chassis or Government and public sector fleets with sustainability goals, the mention of a diverse customer mix contributing to the Q3 2025 gross margin improvement suggests activity across these areas. The 10 stripped chassis shipped in Q3 2025 are an example of providing a chassis for an upfitter, which aligns with the specialized/customizable chassis need. The overall 2025 unit guidance of 320 to 420 units must be spread across all these buyers.

Finance: draft 13-week cash view by Friday.

Xos, Inc. (XOS) - Canvas Business Model: Cost Structure

You're looking at the cost side of Xos, Inc. (XOS) as they push to scale manufacturing and secure fleet contracts. Honestly, for a manufacturer, the cost of goods sold is always the biggest lever you need to watch, so let's break down the numbers we have as of late 2025.

High cost of revenue from manufacturing and raw materials is evident when you look at the gross margin. For the third quarter of 2025, the Cost of Sales was reported as $13.97 million, against revenue of $16.5 million. This resulted in a GAAP Gross Margin of 15.3% for the quarter. Management noted that this margin reflects a complex reality, including long-term structured pricing with national accounts and the impact of tariffs that were not originally contemplated in some large program pricing. The non-GAAP Gross Margin for Q3 2025 was 16%.

The company is actively managing costs associated with scaling production and supply chain management, with management pointing to tariff volatility as a headwind. The Tennessee plant was running efficiently, achieving rates of 3 chassis per day in Q3 2025, which underscores their ability to scale at higher volumes.

Significant investment in Research and Development (R&D) is part of the ongoing product diversification strategy, though the most granular breakdown available is from the prior quarter. For the second quarter of 2025, Research and Development expenses were $4.017 million. This investment supports the expansion into higher-margin categories like powertrains and the Xos Hub energy platform.

Operating expenses of $9.5 million in Q3 2025 is a key figure showing disciplined management, even with sequential increases. This figure was up 9% from Q2 2025 but was down 24% compared to Q3 2024. For the first three quarters of 2025, total operating expenses reached $28.7 million.

Sales, General, and Administrative (SG&A) costs for market expansion are embedded within the total operating expenses. While a specific SG&A number for Q3 2025 isn't explicitly separated from R&D in the latest reports, the total operating expenses of $9.53 million for Q3 2025 compared to $10.48 million in Q1 2025 shows variability as the company executes its market strategy.

Here are the key cost and margin metrics from the Q3 2025 reporting period:

Metric	Q3 2025 Amount	Comparison/Context
Total Operating Expenses	$9.5 million	Up 9% from Q2 2025; Down 24% from Q3 2024
Cost of Sales (Cost of Revenue)	$13.97 million	Against $16.5 million in Revenue
GAAP Gross Margin	15.3%	Up from 8.8% in Q2 2025
Non-GAAP Gross Margin	16%	Ninth consecutive quarter of positive non-GAAP gross margin
Operating Loss (GAAP)	$7.0 million	Record low since going public
R&D Expense (Q2 2025 Proxy)	$4.017 million	Latest specific breakdown available

The company is also actively managing capital structure costs, having amended a convertible note in August 2025 to move principal payments to quarterly installments through February 2028. Furthermore, terminating the Mesa facility lease is expected to generate $20.7 million in cash savings through 2033, though this is offset by required payments totaling about $2.8 million over 18 months.

Xos, Inc. (XOS) - Canvas Business Model: Revenue Streams

You're looking at the revenue engine for Xos, Inc. (XOS) as of late 2025, and honestly, the story isn't just about how many trucks they sell; it's about the mix of what they sell. Management is clearly pushing hard toward higher-margin components and services, which is a defintely smart move given the capital intensity of manufacturing.

The official full-year 2025 revenue guidance remains a range between $50.2 million and $65.8 million. This range is wide, reflecting the inherent execution risk in scaling production, but the underlying unit delivery target is set between 320 and 420 units for the full year. To give you a sense of the cadence, Q3 2025 saw revenue of $16.5 million from the delivery of 130 units.

The primary revenue source is still the Sale of electric commercial vehicles (trucks and vans), which is directly tied to those unit delivery numbers. For context on the year's flow, Q1 2025 saw 29 units delivered, while Q2 2025 hit a record with 135 units shipped. The shift in mix is what you need to watch closely, as it directly impacts the gross margin, which hit 15.3% in Q3 2025, up from 8.8% in Q2 2025.

The strategic pivot is evident in the Sale of powertrain systems to other OEMs (higher-margin focus). This segment is gaining traction and is expected to drive better profitability going forward. For example, in Q3 2025, Xos, Inc. delivered 18 powertrain systems to Blue Bird Corporation. Plus, since that quarter ended, they have received nearly 80 additional powertrain orders, though most of those are slated to ship in 2026.

Here is a quick look at the known revenue components and guidance for the 2025 fiscal year:

Revenue Stream Component	Latest Reported Metric/Guidance	Notes
Full-Year 2025 Revenue Guidance	$50.2 million to $65.8 million	Reaffirmed guidance as of late 2025.
Total Unit Deliveries Guidance (2025)	320 to 420 units	Direct vehicle sales component.
Q3 2025 Vehicle Revenue	$16.5 million	From 130 units delivered in the quarter.
Q3 2025 Powertrain Systems Sold	18 units	To Blue Bird Corporation.
Recent Powertrain Orders	Nearly 80 additional orders	Expected to ship primarily in 2026.

Beyond the hardware sales, Xos, Inc. is building out its infrastructure and software revenue streams, which are key to establishing a more stable, recurring financial base. These areas are where the long-term value proposition is being cemented, even if the current revenue contribution isn't as large as the truck sales.

The infrastructure side involves the Sale and installation of Xos Hub charging infrastructure. Management noted accelerated deployments of the Xos Hub platform, which is also being positioned as a mobile energy platform for industrial users needing temporary power or resilience where grid infrastructure is lacking. While specific 2025 revenue for Hubs isn't broken out, this is a stated area of focus alongside the vehicle sales.

Finally, the software component is the Recurring revenue from Xosphere software subscriptions and service contracts. Xosphere is their proprietary fleet management software, integrating vehicle operation and charging data for monitoring and maintenance. While the 2024 10-K mentioned the software, specific 2025 recurring revenue figures aren't explicitly detailed in the latest earnings reports, but management signaled ongoing expansion in this area.

You should track these elements as leading indicators for future revenue quality:

• The mix shift toward powertrain sales, which are higher-margin.
• The growth rate of Xos Hub deployments.
• The total number of active Xosphere software subscribers.
• The duration and value of service contracts signed.