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Hyliion (HYLN) - 2024 Q4 - Annual Results
HYLNHyliion (HYLN)2025-02-25 21:20

Financial Performance - Hyliion reported 1.5millioninrevenueforresearchanddevelopmentservicesinQ42024,comparedto1.5 million in revenue for research and development services in Q4 2024, compared to 672 thousand in Q4 2023[14]. - The company provided 2025 revenue guidance of 10to10 to 15 million, including generator sales and research and development services[5][18]. - Operating expenses in Q4 2024 totaled 17.2million,downfrom17.2 million, down from 32.6 million in the prior-year quarter, resulting in a net loss of 14.4million[15].−Hyliion′snetlossforthefullyear2024was14.4 million[15]. - Hyliion's net loss for the full year 2024 was 52 million, significantly reduced from 123.5millionin2023[15].−Netlossfor2024was123.5 million in 2023[15]. - Net loss for 2024 was 52,048 million, an improvement from a net loss of 123,510millionin2023,representingareductionofabout58123,510 million in 2023, representing a reduction of about 58%[27]. Cash and Investments - The company ended 2024 with 220 million in cash and investments, with total cash consumed for KARNO development and capital investments at 58million[5][16].−Cashandcashequivalentsdecreasedfrom58 million[5][16]. - Cash and cash equivalents decreased from 12,881 million in 2023 to 9,227millionin2024,adeclineofapproximately289,227 million in 2024, a decline of approximately 28%[25]. - Net cash used in operating activities was 56,738 million in 2024, compared to 116,962millionin2023,indicatingasignificantreductionofapproximately51116,962 million in 2023, indicating a significant reduction of approximately 51%[27]. - Cash flows from investing activities provided 59,493 million in 2024, a substantial increase from 18,308millionin2023[27].AssetsandLiabilities−Totalassetsdecreasedfrom18,308 million in 2023[27]. Assets and Liabilities - Total assets decreased from 328,383 million in 2023 to 263,046millionin2024,adeclineofapproximately20263,046 million in 2024, a decline of approximately 20%[25]. - Total stockholders' equity decreased from 306,266 million in 2023 to 244,389millionin2024,adeclineofabout20244,389 million in 2024, a decline of about 20%[25]. - The total current liabilities decreased slightly from 15,122 million in 2023 to 14,291millionin2024,areductionofabout514,291 million in 2024, a reduction of about 5%[25]. Operational Developments - Hyliion secured commitments for over 100 KARNO generators, creating a multiyear backlog, including a Letter of Intent (LOI) for up to 70 megawatts of generating capacity from a data center developer[5][7]. - The company plans to deliver ten Early Adopter Customer Units of the KARNO generator through mid-2025, with some units remaining for further testing[4]. - Hyliion aims to commercialize a 2-megawatt KARNO model in 2026, targeting markets such as EV charging and data centers[6][7]. - Hyliion was awarded a 6 million federal grant for deploying up to 2 megawatts of KARNO generators to support methane emission reduction efforts in the oil and gas industry[5][10]. Manufacturing and Capital - The company is enhancing its manufacturing capacity with the delivery of additive printing machines, including the first M Line production additive printer in the U.S. outside of GE[13]. - The company repurchased treasury stock costing 13,982millionin2024,comparedto13,982 million in 2024, compared to 33 million in 2023[27]. - The company’s additional paid-in capital increased from 404,045millionin2023to404,045 million in 2023 to 408,315 million in 2024, reflecting a growth of about 1%[25]. Accounts Receivable - The company reported a decrease in accounts receivable from 40millionin2023to40 million in 2023 to 1,923 million in 2024, indicating a significant increase in collections[25].