Hyzon Q1 2024 revenue $10M (vs $0 YoY); cash burn at low end of guidance

Hyzon Motors Inc.

2024-Q1 EPS reported -$0.14 revenue$9,983,000

Revenue $10.0 million in Q1 2024, first significant revenue quarter; nil in prior-year period.
Unrestricted cash $82.6M at March 31; net cash burn $24M (excl. $8.5M SEC settlement and $2.9M facility sale).
Completed five 200kW C-sample fuel cell systems in Q1; five more in April; SOP on track for H2 2024.
Unveiled first U.S. hydrogen refuse truck with New Way Trucks; trials expected summer 2024.
R&D, SG&A, and net cash burn all at or below low end of guidance ranges for Q1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hyzon Motors Inc. reported first quarter ended March 31, 2024 results: revenue $10.0 million.

Period: first quarter ended March 31, 2024
Revenue: $10.0 million
Result: reported results

Exact text from the filing

power to decarbonize the most demanding industries, today announced its first quarter 2024 financial and operating results: Recent Highlights • First quarter 2024 Revenue of $10.0 million as compared to no revenue in the prior-year period, demonstrating material progress in customer acceptance and completion of commercial cycle • Announced Joint Development

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Source: SEC EDGAR

accession 0001716583-24-000048

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