Xos, Inc.

Good afternoon and welcome to EXOS First Quarter 2022 Earnings Conference Call. Today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. At this time, I would like to turn the conference over to EXOS General Counsel, Kristen Romero. Thank you. You may begin.

Thank you, Operator, and thank you, everyone, for joining us today. Hosting the call with me today are Exos' Chief Executive Officer, Dakota Simler, Chief Operating Officer, Giordano Sordone, and Chief Financial Officer, Kingsley Afamiki. Ahead of this call, Exos issued its first quarter 2022 earnings press release, which we will reference today. This can be found on the investor relations section of our website at investors.exostrucks.com. On this call, management will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect because of factors discussed in today's earnings news release, during this conference call, or in our latest reports and filings with the Securities and Exchange Commission. These documents can be found on our website. at investors.exostrucks.com. We do not undertake any duty to update any forward-looking statement. Today's presentation also includes references to non-GAAP financial measures and performance metrics. Please refer to the information contained in the company's first quarter 2022 earnings press release for definitional information and reconciliations of historical non-GAAP measures to the comparable GAAP financial measures. Participants should be cautioned not to put undue reliance on forward-looking statements. With that, let me turn it over to Dakota.

Thanks, Kristen, and thank you, everyone, for joining us. Today, we are proud to announce our financial results and an excellent quarter. Despite continued disruption to supply chain and logistics, we grew unit deliveries and revenues and also improved unit margins. I am proud of our team's ability to navigate the ever changing landscape and meet or exceed the targets that we set out for the first quarter. Our mission remains focused on transitioning fleets in targeted high growth markets from internal combustion engines to electric commercial vehicles with industry leading technology and in the process, decarbonizing commercial transportation. I'll cover some of the exciting updates and highlights we had over the quarter. Gio will update you on our sourcing and manufacturing progress, and Kingsley will conclude with a detailed review of our first quarter results and outlook. During the first quarter, we continued to make steady progress scaling the business. First, we ramped production and delivered 56 units to customers across the U.S. We also broadened our distribution and service footprint with key customers and partners. Our commercial traction in the first quarter is underpinned by our expansion into growth-focused last mile markets. In the current environment of elevated diesel prices, Exos' industry-leading total cost of ownership and value proposition to our customers is stronger than ever. With trucks on the road since 2018, we are able to showcase our truck's real-world experience in our customers' hands. We're seeing an acceleration in our sales cycle quarter on quarter with more purchase orders and more units per purchase order. Over the first quarter, we received purchase orders for over 350 trucks from a range of customers and use cases. In particular, we continue to secure orders from keystone customers, such as FedEx ground operators, with outstanding purchase orders currently standing at over 550 trucks across a range of states. Subsequent to quarter end, we announced delivery of 15 fully electric step vans to five different FedEx ground operators in Southern California. These vehicles were the first deliveries in 2022 under purchase orders signed last year, and we're excited to continue rolling out our products to this leading nationwide fleet. We also continue to have great traction in the beverage, linen, and refrigerated trucks, such as the partnership we've announced with Thermo King. We secured a purchase order from the uniform and workwear leader, UniFirst, and announced three deliveries to UniFirst Southern California location during the first quarter. This delivery was part of an initial rollout of vehicles, and we expect additional deliveries to a UniFirst location in Boston, Massachusetts, in the second half of the year. We are excited to help our long-term partner universe reduce their environmental impact and transition their fleet from diesel to electric vehicles. Finally, we are proud of the distribution and service network we have built. In the first quarter, we announced our partnership with Murphy Hoffman Company, one of the largest commercial vehicle dealerships in the country. We continue to take strategic steps to tackle the current supply chain crisis which Gio will talk about in detail. It is early days, but we believe some of the strategic steps we have taken are beginning to bear fruit. In summary, we continue to make significant progress scaling the business, and I'm proud of the team's accomplishments this quarter. The opportunity for clean fleet and logistics solutions in both the public and private sector remains immense, and we expect to continue to benefit from the secular shift to a net zero carbon economy. I will now turn it over to Gio. Thanks, Dakota.