Hyliion (US:HYLN)2025-05-13 20:09Financial Performance - Hyliion reported first-quarter 2025 revenue of $0.5 million, with a gross profit of $12, compared to no revenue in the same quarter of 2024[14]. - The net loss for the quarter was $17.3 million, compared to a net loss of $15.6 million in the first quarter of 2024[16]. - Net loss for the three months ended March 31, 2025, was $17,254 million, compared to a net loss of $15,592 million for the same period in 2024, indicating an increase in losses of about 10.7%[25]. Operating Expenses - Operating expenses totaled $19.7 million, an increase from $19.0 million in the prior-year quarter, driven by higher R&D expenses of $12.2 million, up from $8.0 million[15]. - Cash outflows for Q1 were $20.9 million, including $7.3 million in capital expenditures for additive manufacturing equipment[17]. - The company reported a depreciation and amortization expense of $1,142 million for the three months ended March 31, 2025, compared to $572 million in the same period of 2024, an increase of approximately 99.3%[25]. Cash and Investments - The company ended Q1 with $199 million in cash and investments, expecting a year-end cash balance of approximately $155 million[4]. - Cash and cash equivalents increased from $9,892 million at the beginning of the period to $12,997 million at the end of the period, reflecting a net increase of $3,105 million[25]. - Net cash used in operating activities for the three months ended March 31, 2025, was $14,004 million, down from $22,702 million in the same period of 2024, showing an improvement of approximately 38.5%[25]. Assets and Liabilities - Total assets decreased from $263,046 million as of December 31, 2024, to $240,976 million as of March 31, 2025, representing a decline of approximately 8.4%[24]. - Total current liabilities decreased significantly from $14,291 million as of December 31, 2024, to $9,238 million as of March 31, 2025, a reduction of approximately 35.4%[24]. - Long-term investments decreased from $99,584 million to $77,670 million, a decline of about 22%[24]. - Total stockholders' equity decreased from $244,389 million as of December 31, 2024, to $227,987 million as of March 31, 2025, a decline of about 6.7%[24]. Revenue Guidance and Sales - Hyliion reiterated its 2025 revenue guidance of $10 to $15 million, driven by KARNO module sales and R&D services[18]. - Over 100 KARNO units are under non-binding Letters of Intent (LOIs) across various sectors, including military and industrial applications[7]. - The company has signed an LOI with MESA Natural Gas Solutions for a potential purchase of up to 12 KARNO units[6]. - Hyliion aims to commercially launch the KARNO Power Module by the end of 2025, with plans for ten Early Adopter customer unit deliveries this year[13]. Future Expectations - The company expects to achieve breakeven gross margins on a cash basis by the end of 2026, supported by increasing production volume[18].