Xos Inc. (XOS) jumped 86.60% in after-hours trading on Monday, moving from a regular session close of $2.09 to $3.90, after the company announced a prototype contract with the U.S. Air Force.
The contract is an Other Transaction Agreement (OTA) awarded by the United States Air Force to develop and deliver a deployable mobile charging solution for electrified support equipment and vehicles.
The award came through the Air Force Global Strike Command Rapid Capabilities Division 2026 Showcase. It marks Xos’ first move into the defense sector.
🚨 XOS WINS FIRST U.S. AIR FORCE CONTRACT
Xos $XOS has secured its first U.S. Air Force contract, marking the EV technology company’s official entry into the defense market.
🔹 Developing a ruggedized mobile battery storage + charging system
🔹 Designed for grid-independent… pic.twitter.com/LvnlSHnCCv— Emmanuel – Big Tech & AI Investor (@EmmanuelInvest) August 17, 2026
Under the agreement, Xos will adapt its existing Xos Hub mobile battery energy storage system for defense use. The system is built to deliver high-capacity charging without the need for permanent infrastructure.
The Xos Hub is designed to provide grid-independent power in field environments. Primary assembly and integration will take place at the company’s facility in Byrdstown, Tennessee.
The contract has a performance period running into late 2027.
Until now, the Xos Hub has been used by commercial fleets, ports and municipalities. The Air Force contract opens up the U.S. defense ecosystem as a new customer base for the product.
That is a notable expansion for a company with a market capitalization of just $29.64 million. XOS has a 52-week high of $8.27 and a 52-week low of $1.60. The stock was down 33% over the past year before Monday’s after-hours move.
The contract news comes just days after a rough earnings report. Xos posted revenue of $4.7 million for the latest quarter, which came in 61% below analyst expectations. Losses were also wider than forecast at $0.55 per share.
Following those results, the company’s sole analyst cut the 2026 revenue forecast from $49.1 million to $39.5 million. That would still represent 4.9% revenue growth year-over-year.
The analyst also revised the 2026 loss estimate down to $1.99 per share from $2.08 per share.
The consensus price target dropped 33% to $4.00 following the earnings update.
Despite the cut, the analyst still expects Xos to grow revenue faster than the broader industry. The wider sector is forecast to grow at 7.1% annually, while Xos is projected at 9.9% annualised growth through end of 2026.
For context, Xos grew revenue at 27% annually over the past five years, so even the revised forecast represents a slowdown.
The after-hours price of $3.90 is now sitting right at that revised $4.00 analyst price target.
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