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LOS ANGELES - Xos, Inc. (NASDAQ: XOS), a company specializing in fleet electrification and energy solutions with an impressive revenue growth of 81% in the last twelve months, has announced the inclusion of its Xos Hub™ on the General Services Administration (GSA) Schedule, facilitating easier procurement for federal agencies. According to InvestingPro analysis, the company, currently valued at approximately $25 million, has been showing strong sales momentum despite challenging market conditions. The Xos Hub is a mobile energy storage system and DC fast charger designed to expedite the adoption of electric vehicles (EVs) by overcoming common infrastructure deployment hurdles.
The GSA Schedule listing allows authorized customers to purchase the Xos Hub with pre-established pricing and terms, streamlining the government procurement process. This development is expected to support federal agencies in reducing operational expenses through the adoption of EVs, which offer the potential for significant budget savings over time. While the company maintains a current ratio of 1.94, indicating solid short-term liquidity, InvestingPro data reveals that the company is actively managing its resources while pursuing growth opportunities. InvestingPro subscribers have access to 15+ additional key insights about Xos’s financial health and market position.
Xos CEO and Co-Founder, Dakota Semler, highlighted the unique capabilities of the Xos Hub, emphasizing its ability to be operational in a single day without the typical delays associated with charging infrastructure deployment. The system’s onboard energy storage and integrated EV chargers negate the need for local building authority approvals, utility upgrades, or other common roadblocks.
The Xos Hub is a trailer-mounted, rapidly deployable EV charging unit that provides a versatile solution for various applications, including temporary charging for EV fleets, remote charging, semi-permanent setups, or as backup power during grid outages. Developed in-house, the Hub’s design leverages Xos’ expertise in power electronics, power conversion systems, and proprietary software, ensuring compatibility with a wide range of OEMs and vehicle models.
Aldan Shank, Xos’ Director of Mobile Charging Products, pointed out the advantages of the Xos Hub over stationary chargers, citing its flexibility and reliability, as well as its ability to circumvent typical barriers like site upgrades, construction costs, and property lease restrictions.
The GSA Advantage is an online shopping and ordering service that supports the procurement needs of eligible federal, state, local, territorial, and tribal governments. Xos, Inc. is a technology company and electric truck manufacturer focused on medium- and heavy-duty commercial vehicles, offering vehicles and energy solutions aimed at reducing maintenance needs and enhancing total cost of ownership.
This announcement is based on a press release statement from Xos, Inc. For more information on the Xos Hub and its procurement through the GSA Schedule, authorized entities can visit the GSA Advantage website or contact John Rhoden for eligibility inquiries. Based on InvestingPro’s Fair Value analysis, Xos appears to be fairly valued at current levels, with analysts projecting continued sales growth for the current year. A comprehensive Pro Research Report, part of the 1,400+ stock coverage available to InvestingPro subscribers, provides detailed insights into Xos’s market position, financial health, and growth prospects.
In other recent news, Xos, Inc. reported the departure of Christen T. Romero, the company’s General Counsel and Secretary, effective January 10, 2025. The Senior Corporate Counsel has temporarily assumed responsibility for the legal department. Additionally, Northland has downgraded Xos, Inc. from Outperform to Market Perform, reducing the price target from $9.00 to $5.00. This decision follows the company’s third-quarter 2024 financial results and the announcement of a new customer. Northland’s adjustment reflects a reassessment of Xos’s position relative to its industry peers. The firm’s updated outlook considers the potential impact of the new customer on future operations. Xos, Inc. has not announced any further changes to its executive team or board of directors. The company’s CEO, Dakota Semler, confirmed these updates in a recent SEC filing.
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