Hyliion Q1 net loss narrows to $15.6M, cash at $264M; KARNO on track for 2024 deployments

Hyliion Holdings Corp.

2024-Q1 EPS reported -$0.09

Net loss $15.6M vs $28.8M YoY; operating expenses $19.0M (vs $31.9M) incl. $4.4M powertrain wind-down charges.
Cash and investments $264M; repurchased 8.7M shares for $11.3M under $20M buyback program.
KARNO generator initial customer deployments targeted for late 2024; LOI from H2 Energy for up to 10 units.
2024 guidance reaffirmed: $40-$50M cash spent on KARNO development and capex.
Projecting 2025 KARNO generator sales in low double-digit millions; gross margins near breakeven.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Hyliion Holdings Corp. reported first-quarter 2024 results: net income $15.6 million. Guidance reaffirmed.

Period: first-quarter 2024
Net income: $15.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net loss in the quarter was $15.6 million, compared to $28.8 million in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001759631-24-000088

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