$Hyliion (HYLN.US)$ NEWS Hyliion Holdings Reports First-Quar...
NEWS
Hyliion Holdings Reports First-Quarter 2024 Financial Results
Hyliion Holdings Corp. reported its first-quarter 2024 financial results, highlighting partnerships, customer commitments, stock repurchases, and cash position. The company reaffirmed guidance for 2024 expenditures and discussed progress on KARNO generator development. Key business highlights included a letter of intent with H2 Energy Group, a partnership with BayoTech, and plans for initial KARNO generator deliveries. Hyliion also provided updates on production capacity, hybrid generator technology, and powertrain wind-down activities.
Positive
Secured customer commitments for 2024 production capacity and building backlog for 2025 deliveries
Announced promising partnerships with H2 Energy Group and BayoTech to fuel growth
Reaffirmed guidance of $40 to $50 million cash expenditures in 2024 for KARNO development and capital investments
Reaffirmed strong cash and investments position with $264 million at the end of the quarter
On track for initial deployment of KARNO generators to customers in late 2024
Negative
Recorded net loss of $15.6 million in the first quarter, despite reduced operating expenses
Expenses included $4.4 million of exit and termination charges related to winding down the powertrain business
Total cash expenditures for the quarter were $35.3 million, impacting cash position
Powertrain wind-down activities ongoing, with efforts to monetize assets continuing
Gross margins projected to be break-even or slightly negative in 2025
Secured customer commitments for 2024 production capacity and building backlog for 2025 deliveries
Announced promising partnerships with H2 Energy Group and BayoTech to fuel growth
Reaffirmed guidance of $40 to $50 million cash expenditures in 2024 for KARNO development and capital investments
Reaffirmed strong cash and investments position with $264 million at the end of the quarter
On track for initial deployment of KARNO generators to customers in late 2024
Negative
Recorded net loss of $15.6 million in the first quarter, despite reduced operating expenses
Expenses included $4.4 million of exit and termination charges related to winding down the powertrain business
Total cash expenditures for the quarter were $35.3 million, impacting cash position
Powertrain wind-down activities ongoing, with efforts to monetize assets continuing
Gross margins projected to be break-even or slightly negative in 2025
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
536Followers
65Following
3407Visitors
Follow