Hyliion shifts focus to KARNO generator, winds down powertrain; Q3 expenses down, cash $324M

Hyliion Holdings Corp.

2023-Q3 EPS reported -$0.52 revenue$672,000

Q3 operating expenses $33.3M (down 47% YoY); year-to-date $103.7M; cash & investments $324M.
Company to discontinue powertrain business, retain technology for future use/sale; focus on KARNO generator.
FY 2023 year-end cash expected ~$285M; 2024 cash burn ~$40M, excluding powertrain asset monetization.
First KARNO generator revenue deployments expected late 2024; new R&D facility near Cincinnati, OH.
No further powertrain revenue in 2023; powertrain achieved CARB certification and fleet trials before wind-down.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Hyliion Holdings Corp. reported financial results for fiscal third quarter ended September 30, 2023.

Period: fiscal third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 8, 2023, Hyliion Holdings Corp. (the “Company”) issued a press release announcing certain financial and other results for the quarter ended September 30, 2023.

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Hyliion Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001759631-23-000094

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