Hyliion Q1 2026 revenue $2.8M, net loss narrows to $11.7M; UL cert complete

Hyliion Holdings Corp.

• Revenue of $2.8M, up 4x from Q4 2025, driven by ONR contract work on 800-kW Navy KARNO.
• Net loss improved 32% YoY to $11.7M from $17.3M; operating expenses fell to $13.4M.
• Completed UL non-recurring certification for KARNO Power Module, enabling customer site deliveries.
• LOI with VFG Holdings for up to 250 KARNO Cores (50 MW) for data centers over five years.
• Reaffirming FY 2026 rev guidance ~$10M, year-end cash ~$100M; current cash & investments $139.3M.

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