• XPO average gross margin for 2023 was 86.01%, a 36.68% increase from 2022.
• XPO average gross margin for 2022 was 62.93%, a 224.72% increase from 2021.
• XPO average gross margin for 2021 was 19.38%, a 1.47% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.