Hyliion (US:HYLN)2025-05-13 21:22Business Updates - Hyliion unveiled the KARNO Power Module at ACT Expo 2025, introducing a new naming convention: KARNO Power Module and KARNO Core[5] - The US Navy unit is currently testing the KARNO system, with LEM development and depowdering in progress[5] - Mesa Natural Gas Solutions has a Letter of Intent (LOI) for a potential deployment of up to 2.4 MW using the 200 kW KARNO Power Module[10] - Over 100 KARNO units are under contract and non-binding LOIs across various segments, including EV Charging, Stationary, Mobile, Data Centers, Prime Power, and Defense[13] - The company plans to deliver 10 Early Adopter Customer Units throughout 2025 and commercialize the 200 kW Power Module in the second half of 2025[21] Financial Highlights - Hyliion anticipates revenue of $10 million to $15 million from the KARNO Power Module commercial launch in 2025[24] - Q1 2025 R&D service revenue was $0.5 million, a $0.5 million increase compared to Q1 2024[25] - Total operating expenses for Q1 2025 were $19.7 million, a $0.7 million increase compared to $19.0 million in Q1 2024[25] - Net loss for Q1 2025 was $17.3 million, compared to a net loss of $15.6 million in Q1 2024, representing a $1.7 million increase in net loss[25] - The company ended Q1 with $198.8 million in cash and long and short-term investments[31] - Total cash use for 2025 is estimated at $65 million[30, 31]