Xos, Inc.
For the period ended Dec 31, 2025. Filed Mar 30, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 30, 2026
XOS$2.29-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Years Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating Activities: | ||
| Net loss | $(25,320) | $(50,159) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ||
| Depreciation | 2,183 | 3,343 |
| Amortization of right-of-use assets | 1,659 | 1,798 |
| Amortization of debt discounts and issuance costs | 30 | 50 |
| Amortization of insurance premiums | 2,430 | 2,834 |
| Inventory reserves | (263) | 2,940 |
| Impairment of property and equipment and assets held-for-sale | 564 | 4,823 |
| Change in fair value of derivative instruments | (48) | (274) |
| Change in fair value of earn-out shares liability | — | (39) |
| Gain on operating lease termination | (9,875) | — |
| Stock-based compensation expense | 7,407 | 7,710 |
| Bad debt expense | 2 | 962 |
| Other non-cash items | 1,068 | (148) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 20,833 | (12,690) |
| Inventories | 10,895 | (1,558) |
| Prepaid expenses and other current assets | (501) | (1,562) |
| Other assets | 907 | (2,654) |
| Accounts payable | (6,458) | 5,406 |
| Other liabilities | (148) | (9,577) |
| Net cash provided by (used in) operating activities | 5,365 | (48,795) |
| Investing Activities: | ||
| Proceeds from the disposal of assets held for sale | 61 | 125 |
| Purchases of property and equipment | — | (304) |
| Net cash acquired in acquisition of ElectraMeccanica Vehicles Corp | — | 51,355 |
| Net cash provided by investing activities | 61 | 51,176 |
| Financing Activities: | ||
| Principal payment for equipment leases | (1,973) | (2,347) |
| Proceeds from short-term insurance financing note | 2,609 | 3,107 |
| Payment for short-term insurance financing note | (2,899) | (2,830) |
| Payments on convertible notes | (1,500) | — |
| Stock option exercises | — | 10 |
| Taxes paid related to net share settlement of stock-based awards | (1,021) | (1,012) |
| Proceeds from sale of newly issued shares of common stock | 2,402 | — |
| Proceeds from issuance of Common Stock under Standby Equity Purchase Agreement | — | 47 |
| Net cash used in financing activities | (2,382) | (3,025) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 3,044 | (644) |
|---|---|---|
| Cash, cash equivalents and restricted cash, beginning of year | 10,996 | 11,640 |
| Cash, cash equivalents and restricted cash, end of year | $14,040 | $10,996 |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash to Consolidated Balance Sheets: | ||
| Cash and cash equivalents | $14,040 | $10,996 |
| Total cash, cash equivalents and restricted cash | $14,040 | $10,996 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for income taxes | $51 | $17 |
| Operating lease termination | $(9,875) | $— |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Issuance of common stock for equipment lease termination | $(200) | $— |
| Settlement of accrued interest with shares of Xos common stock | $(6,009) | $— |
| Purchase of property and equipment in accounts payable | $(30) | $(35) |
| Net assets acquired in acquisition of ElectraMeccanica Vehicles Corp. | $— | $54,630 |
| Xos common stock issued in exchange for ElectraMeccanica Vehicles Corp. | $— | $(31,856) |
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