Xos, Inc. Accelerates Growth with Strategic Acquisition of ElectraMeccanica
Xos, Inc. (XOS)
Company Research
Source: GlobeNewswire
LOS ANGELES, March 26, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet electrification services provider, today announced that it has closed its acquisition of ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica”), a designer and assembler of electric vehicles. Terms of the acquisition were first announced on January 11, 2024. The all-stock transaction is expected to add approximately $48 million to Xos’ balance sheet and provide growth capital for the company. “The growth capital received in the transaction, combined with our reduction of cash burn, provides an important pathway to profitability as we scale deliveries over the next several quarters,” said Dakota Semler, CEO and Co-Founder of Xos, Inc. “Xos is gross margin positive and has now charted our course to being free cash flow positive.” Xos delivered a company record 110 units to fleet customers in the fourth quarter of 2023. The company’s customers i
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XOS
News
- Xos, Inc. Announces First Quarter 2024 Earnings Release Date and Conference CallGlobeNewswire
- Xos, Inc. Unveils Upgraded 2024 Xos SV Stepvan with Enhanced Features for Fleet Operators [Yahoo! Finance]Yahoo! Finance
- Xos, Inc. Unveils Upgraded 2024 Xos SV Stepvan with Enhanced Features for Fleet OperatorsGlobeNewswire
- Xos, Inc. (NASDAQ: XOS) was upgraded by analysts at DA Davidson from a "neutral" rating to a "buy" rating. They now have a $17.00 price target on the stock.MarketBeat
- Xos, Inc. (NASDAQ:XOS) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
XOS
Earnings
- 3/21/24 - Beat
XOS
Sec Filings
- 4/12/24 - Form 4
- 4/12/24 - Form 4
- 4/12/24 - Form 4
- XOS's page on the SEC website