For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Hyliion Holdings Corp. (HYLN) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. Hyliion Holdings Corp. is one of 107 companies in the Auto-Tires-Trucks group. The Auto-Tires-Trucks group currently sit ...

Financial Data and Key Metrics Changes - The total net loss for Q1 2024 was $15.6 million, a decrease from $28.8 million in Q1 2023, primarily due to the shutdown of the powertrain business [43] - Operating expenses for Q1 2024 were $19 million, down from $31.9 million in Q1 2023, with the decrease attributed to the powertrain shutdown [13] - Interest income for Q1 2024 was $3.4 million, approximately flat compared to the previous year [14] - Cash and investments at the end of Q1 2024 totaled $264 million, indicating cash expenditures of $35 million during the quarter [15] Business Line Data and Key Metrics Changes - Excluding powertrain-related expenses, expenses for KARNO research and development and SG&A were $14.6 million [35] - The company expects total cash expenditures for the KARNO generator business in 2024 to be on the high end of the $40 million to $50 million estimate, reflecting a rapid ramp-up in investments [37] Market Data and Key Metrics Changes - The company has executed a non-binding LOI with H2 Energy for the adoption of up to 10 KARNO generators, which can produce approximately 2 megawatts in aggregate [25] - The company has identified four target markets for the KARNO generator, including EV charging, waste gas utilization, prime power applications, and mobility applications [26][27][28] Company Strategy and Development Direction - The company is focused on the commercialization of the KARNO generator, with plans to begin shipping units to customers later in 2024 [10][45] - A partnership with BayoTech has been established to ensure a reliable hydrogen supply chain for customers, enhancing the value proposition of the KARNO generator [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress made in customer engagement and product development, emphasizing the importance of getting units into customers' hands in the coming quarters [41][47] - The company maintains its guidance for 2025, expecting to ramp up KARNO generator deliveries and revenue, with total sales projected in the low-double-digit millions of dollars [38] Other Important Information - The company repurchased 8.7 million shares for $11.3 million as part of a $20 million share repurchase program [36] - The company anticipates that powertrain-related operating expenses will be negligible moving forward, with cash payments expected to be in the low-single-digit millions [44] Q&A Session Summary Question: What is the outlook for the KARNO generator deployment? - Management indicated that they expect to begin deploying KARNO generator units to customers in late 2024, although the timing of payments remains uncertain due to various factors [45]

KARNO Generator Technology - Hyliion's KARNO generator is a fuel-agnostic power generation solution with a 200 kW generating unit designed for efficiency, emissions reduction, and cost-effectiveness compared to conventional generators [58]. - The KARNO generator is expected to reduce CO and NOx emissions by over 95% compared to diesel generators, addressing growing concerns about generator emissions [70]. - The generator technology is anticipated to compete effectively in the market for power applications ranging from 200 kW to 5 MW, with plans for larger and smaller configurations in the future [62]. - The KARNO generator's design allows for operation on various fuel sources, including hydrogen and ammonia, making it suitable for diverse applications [61]. - The generator's modularity and capability to utilize waste gas sources position it as an efficient power generator for renewable natural gas and flare gas applications [64]. - The KARNO generator can operate on over 20 different fuel sources, including natural gas, propane, and hydrogen, allowing for seamless transitions between fuels with minimal modifications [80]. - The KARNO generator is expected to achieve an electrical generating efficiency of nearly 50%, significantly higher than conventional internal combustion diesel generators, which operate at 25% to 40% efficiency [76]. - CO and NOx emissions from the KARNO generator are anticipated to be reduced by over 95% compared to best-in-class diesel engines, targeting CARB 2027 standards without the need for aftertreatment [77]. - The anticipated low maintenance requirements of the KARNO generator are expected to reduce periodic maintenance expenses, which typically range from 5% to 20% of total operating costs for conventional generators [78]. - The KARNO generator is designed to start generating electricity from a cold start in approximately 30 to 60 seconds, with full power achievable in a matter of minutes [82]. Deployment and Market Strategy - Initial deployments of the KARNO generator are scheduled for late 2024, with ongoing testing to validate efficiency, emissions, and reliability [69]. - Hyliion aims to expand production capacity and establish sales channels following initial deployments, potentially including collaborations to extend market reach outside the U.S. [66]. - The company plans to deploy initial revenue-generating units of the KARNO generator with customers in 2024, focusing on commercialization efforts [82]. - The company plans to develop variants of the KARNO generator for mobile applications, including vehicles and marine vessels, in the long term [70]. - The U.S. electrical grid faces challenges from increased demand and renewable energy integration, creating opportunities for localized grid generation solutions like the KARNO generator [60]. - The company anticipates initial customer deployments of the KARNO generator in late 2024, while continuing to incur net losses in the short term [2]. Financial Performance - Total revenues for the three months ended March 31, 2024, were $0, a decrease of $310,000 compared to the same period in 2023, reflecting the strategic shift to the KARNO generator [90]. - The company reported a net loss of $15.6 million for the three months ended March 31, 2024, a 45.9% improvement compared to a net loss of $28.8 million in the same period in 2023 [90]. - Current assets as of March 31, 2024, were $154.1 million, including cash and cash equivalents of $14.7 million and short-term investments of $126.7 million [94]. - For the three months ended March 31, 2024, cash flows used in operating activities were $22.7 million, primarily related to a net loss of $15.6 million [101]. - Cash flows provided by investing activities for the three months ended March 31, 2024, were $27.9 million, related to the sale or maturity of investments of $53.9 million [103]. - Cash flows used in financing activities for the three months ended March 31, 2024, were $11.3 million, primarily due to treasury stock repurchases [105]. - The company repurchased $11.3 million in common stock during the three months ended March 31, 2024, and $11.4 million since the inception of the repurchase program [1]. - Cash used in operating activities for the three months ended March 31, 2023, was $33.2 million, primarily related to a net loss of $28.8 million [102]. - The company expects to have between $220 million and $230 million in cash, short-term and long-term investments remaining on its balance sheet at the end of 2024 [1]. Research and Development - Research and development expenses decreased by $13.0 million, primarily due to the wind down of the powertrain business, with a focus on the KARNO stationary generator [92]. - The company is leveraging advancements in additive manufacturing to reduce manufacturing and assembly costs over time, with expected improvements in machine output [70]. Shareholder Actions - The company announced an authorized share repurchase program to repurchase up to $20 million of its outstanding common stock in December 2023 [1]. - The company granted 2.7 million market-conditioned restricted stock units in the first quarter of 2024, valued at $0.83 per unit [108]. - The company plans to determine its long-term capital needs based on its go-to-market strategy, which may include developing its own manufacturing capacity or outsourcing [2].

Exhibit 99.1 Hyliion Holdings Corp. press@hyliion.com (833) 495-4466 ir@hyliion.com HYLIION HOLDINGS REPORTS FIRST-QUARTER 2024 FINANCIAL RESULTS AUSTIN, Texas, April 30, 2024 – Hyliion Holdings Corp. (NYSE: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today reported its first-quarter 2024 financial results. Hyliion also recently announced that H2 Energy Group has executed a non-binding letter of intent for the purchase of up to 10 KARNO generators that will be fueled by h ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _______________ Commission File Number 001-38823 HYLIION HOLDINGS CORP. (Exact name of registrant as specified in its charter) | Delaware ...

Financial Data and Key Metrics Changes - The company reported $96,000 in revenue from hybrid systems for Q3 2023, a decrease from the previous year [36] - Operating expenses totaled $33.3 million, down from $62.9 million in the prior year quarter, which included a one-time charge of $28.8 million related to the KARNO acquisition [36] - Total cash consumed in Q3 was about $31 million, compared to $45 million in Q3 2022 [37] - The company expects total cash expenditures to drop from approximately $137 million in 2023 to about $40 million in 2024 [41] Business Line Data and Key Metrics Changes - The company has decided to wind down the powertrain business while preserving the technology for potential later use or sale [18] - The focus will shift to the KARNO generator business, which is expected to address the growing demand for electricity with a distributed generator solution [7][18] - The KARNO generator is anticipated to be more efficient than conventional generating systems and outperform fuel cell efficiency when operating on hydrogen [9] Market Data and Key Metrics Changes - The market for electrified commercial vehicles has become challenging, with slower than expected fleet adoption and higher component costs [20][21] - The company noted that commercial fleets are facing difficulties securing sufficient electric power for their recharging infrastructure [26] - The KARNO generator is positioned to compete in the prime power applications market, providing a solution for customers needing electricity now [29][99] Company Strategy and Development Direction - The company aims to focus its capital resources on the KARNO generator business, which is seen as a more capital-efficient path to market [18][78] - The company plans to maintain operations in Austin, Texas, and Cincinnati, Ohio, with Austin as the headquarters focusing on industrialization and software development for the KARNO generator [33] - The company is exploring strategic options for the powertrain business, including potential sales or mergers, but ultimately decided on winding it down [17][70] Management's Comments on Operating Environment and Future Outlook - Management expressed that the decision to wind down the powertrain business was not based on product performance but rather on market conditions and the need for a more capital-efficient approach [77] - The company expects to begin receiving payments from customers for early KARNO generator deployments in late 2024 [61] - Management highlighted the importance of addressing customer pain points related to electricity needs and the limitations of grid power [30][74] Other Important Information - The company has a strong balance sheet with $324 million of available capital at the close of Q3 2023 [34] - Total operating expenses for the year are projected to be approximately $140 million, slightly higher than previous guidance due to additional powertrain wind-down costs [40] - The company plans to host a technology fireside chat to further highlight the capabilities of the KARNO generator and business opportunities [42] Q&A Session Summary Question: Did the company engage with potential buyers for the powertrain business? - Management confirmed that they had discussions with potential strategic partners and acquirers but found that many were reassessing their own spending on electrification due to market conditions [46][70] Question: How will the company ensure the KARNO generator's market adoption? - Management indicated that they expect to have initial adoption partners by the end of the year and plan to start customer deployments in the second half of next year [48][74] Question: What is the sales outlook for the KARNO generator in 2025? - Management stated that they will provide more information on sales projections in the first half of next year, with initial revenue expected to be a couple of million from deployments next year [87][88]

Table of Contents Commission File No. 001-38823 HYLIION HOLDINGS CORP. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Exact Name of Registrant as Specified in Its Charter) | Delaware | 83-2538002 | | --- | -- ...

Hyliion Holdings Corp. (NYSE:HYLN) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Kellen Ferris - Director, IR Thomas Healy - CEO Jon Panzer - CFO Conference Call Participants Donovan Schafer - Northland Securities Steven Fisher - UBS Andres Sheppard - Cantor Fitzgerald Mark Delaney - Goldman Sachs Operator Thank you for standing by. Welcome to Hyliion Holdings Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the manag ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Exact Name of Registrant as Specified in Its Charter) | Delaware | 83-2538002 | | --- | --- | | (State or Other Jurisdiction | (IRS Employer | | of Incorporation) | Identification No.) | | 1202 BMC Drive, Suite 100, | | | Cedar Park, TX | 78613 | | (Address of Principal Executive Offices) | (Zip Code) | (833) 495-4466 (Registrant's telephone number, including area code) Indicate by check mark whether the reg ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) For the quarter ended March 31, 2023, Hyliion reported total revenues of $310 thousand and a net loss of $28.8 million, with total assets decreasing to $418.8 million from $446.7 million, and management asserting sufficient funds for the next twelve months [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, Hyliion's total assets decreased to $418.8 million from $446.7 million at December 31, 2022, primarily due to a reduction in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2023 (Unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $85,206 | $119,468 | | Short-term investments | $196,768 | $193,740 | | Total current assets | $298,962 | $324,213 | | Total assets | $418,762 | $446,743 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $14,049 | $14,682 | | Total liabilities | $22,155 | $23,169 | | Total stockholders' equity | $396,607 | $423,574 | | Total liabilities and stockholders' equity | $418,762 | $446,743 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended March 31, 2023, Hyliion reported total revenues of $310 thousand and an increased net loss of $28.8 million, primarily due to higher Research and Development costs Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Total revenues | $310 | $340 | | Gross loss | ($381) | ($1,759) | | Research and development | $20,918 | $15,808 | | Selling, general and administrative | $10,981 | $9,824 | | Loss from operations | ($32,280) | ($27,391) | | Net loss | ($28,831) | ($27,108) | | Net loss per share, basic and diluted | ($0.16) | ($0.16) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first quarter of 2023, net cash used in operating activities increased to $33.2 million, resulting in a net decrease in cash and cash equivalents to $85.9 million by period-end Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($33,239) | ($29,303) | | Net cash used in investing activities | ($847) | ($1,943) | | Net cash used in financing activities | ($176) | ($92) | | **Net decrease in cash and cash equivalents** | **($34,262)** | **($31,338)** | | Cash and cash equivalents, end of period | $85,871 | $227,772 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail Hyliion's business of developing powertrain systems for Class 8 semi-trucks, highlighting dependence on single-source suppliers, customer concentration, and management's belief in sufficient funds for the next twelve months - The company designs and develops hybrid (Hybrid) and fully electric (Hypertruck ERX, Hypertruck KARNO) powertrain systems for Class 8 semi-trucks, with the Hybrid system currently being sold and the Hypertruck ERX in design verification[18](index=18&type=chunk) - The company is dependent on certain single-source suppliers, and any disruption could have a material adverse effect on business operations[22](index=22&type=chunk)[23](index=23&type=chunk) Significant Customer Revenue Concentration | Customer | % of Revenue (Q1 2023) | % of Revenue (Q1 2022) | | :--- | :--- | :--- | | Customer A | 87% | 26% | | Customer F | 13% | — | - The company believes its current financial position, with **$396.6 million** in total equity including **$85.2 million** in cash and **$300.2 million** in investments, is sufficient to fund operations for the next twelve months[20](index=20&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Hyliion's mission to provide electrified solutions for commercial vehicles, highlighting flat revenue, improved gross loss, increased operating expenses, and a strong liquidity position with ongoing spending reduction efforts [Overview and Key Factors Affecting Operating Results](index=17&type=section&id=Overview%20and%20Key%20Factors%20Affecting%20Operating%20Results) Hyliion's strategy focuses on commercializing its multi-stage product roadmap, including the Hybrid system, Hypertruck ERX, and KARNO, while managing demand and supply chain risks, with the Inflation Reduction Act expected to boost demand - The company plans to begin commercialization of the Hypertruck ERX system in the second half of 2023, following design verification, testing, and fleet trials[57](index=57&type=chunk)[65](index=65&type=chunk) - The company is developing the Hypertruck KARNO system, featuring a fuel-agnostic generator acquired from GE, and is also jointly developing a fuel cell vehicle with Hyzon Motors[61](index=61&type=chunk)[62](index=62&type=chunk) - The company is restructuring its 'Founders Program' for the first **210 Hypertruck ERX units** to improve economic terms for Hyliion, which may shift the customer mix[74](index=74&type=chunk)[75](index=75&type=chunk) - The Hypertruck ERX system qualifies for a **30% tax credit up to $40,000 per vehicle** under the Inflation Reduction Act of 2022, which is expected to drive demand[77](index=77&type=chunk) [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Q1 2023 revenues were flat at $0.3 million, gross loss improved due to reduced inventory write-downs, but increased R&D expenses for Hypertruck ERX and KARNO systems led to a higher operating loss, partially offset by increased interest income Comparison of Operations (in thousands) | Metric | Q1 2023 | Q1 2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Total revenues | $310 | $340 | ($30) | (8.8)% | | Gross loss | ($381) | ($1,759) | $1,378 | (78.3)% | | Research and development | $20,918 | $15,808 | $5,110 | 32.3% | | Selling, general and administrative | $10,981 | $9,824 | $1,157 | 11.8% | | Loss from operations | ($32,280) | ($27,391) | ($4,889) | 17.8% | | Net loss | ($28,831) | ($27,108) | ($1,723) | 6.4% | - Cost of revenues decreased by **$1.4 million**, primarily due to a **$1.1 million decrease** in inventory write-downs compared to the prior-year period[87](index=87&type=chunk) - R&D expenses increased by **$5.1 million**, driven by a **$1.7 million increase** for the Hypertruck ERX system and a **$3.4 million increase** for the Hypertruck KARNO system[87](index=87&type=chunk)[88](index=88&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, Hyliion had $299.0 million in current assets, including $85.2 million in cash and $196.8 million in short-term investments, which management believes are sufficient for the next twelve months, while actively reducing spending to extend its financial runway - The company holds **$85.2 million** in cash and cash equivalents and **$300.2 million** in total investments as of March 31, 2023[20](index=20&type=chunk)[90](index=90&type=chunk) - Management believes current assets are sufficient to execute its business strategy and meet capital requirements for the next twelve months[92](index=92&type=chunk) - The company has begun actions to reduce spending, such as reducing capital spending and hiring, to extend the timeline that existing capital can fund operations[93](index=93&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes to its market risks as reported in its 2022 Annual Report - There have been no material changes to the company's market risks from those previously reported in the 2022 Annual Report[102](index=102&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes in internal control over financial reporting during the quarter - Management concluded that as of March 31, 2023, the company's disclosure controls and procedures were effective[103](index=103&type=chunk)[104](index=104&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected or are likely to materially affect internal controls[105](index=105&type=chunk) [PART II. OTHER INFORMATION](index=27&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not currently involved in any material legal proceedings - The company is not currently involved in any material legal proceedings[108](index=108&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its 2022 Annual Report - There have been no material changes to the company's Risk Factors as reported in the 2022 Annual Report[109](index=109&type=chunk) [Other Information](index=27&type=section&id=Item%205.%20Other%20Information) On May 4, 2023, the Board of Directors adopted a new Executive Severance Plan and a Form of Change in Control Agreement, providing benefits for qualifying terminations and enhanced severance for executives following a change in control - On May 4, 2023, the company adopted the Hyliion Holdings Corp. Executive Severance Plan to provide severance benefits to eligible executives upon certain qualifying terminations[113](index=113&type=chunk) - The company also adopted a Form of Change in Control (CIC) Agreement, providing enhanced 'double trigger' severance benefits to named executive officers in the event of a qualifying termination following a change in control[116](index=116&type=chunk)[117](index=117&type=chunk) [Exhibits](index=28&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the 10-Q report, including the newly adopted Executive Severance Plan, the Form of Change in Control Agreement, and officer certifications - Exhibits filed include the Executive Severance Plan (10.1), Form of Change in Control Agreement (10.2), and various officer certifications (31.1, 31.2, 32.1, 32.2)[121](index=121&type=chunk)