Hyliion Holdings Corp. HYLN
Hyliion Holdings Corp. is a Delaware corporation headquartered in Cedar Park, Texas, with research and development ("R&D") facilities in Cincinnati, Ohio, that designs and develops power generators for stationary and mobile applications and provides R&D services. References to the "Company," "Hyliion," "we," or "us" in this report refer to Hyliion Holdings Corp. and its wholly owned subsidiary, unless expressly indicated or the context otherwise requires. The Company was incorporated on November 7, 2018 and is listed on the NYSE American.
Hyliion is committed to creating innovative solutions that enable clean, efficient, and flexible electricity production while contributing positively to the environment in the energy economy. Hyliion's primary product offering, the KARNO Power Module, is a modular, fully enclosed, fuel-agnostic and fully integrated power generating solution. The KARNO Power Module is powered by KARNO Core, a heat powered linear generator, to produce electricity with significant improvements in efficiency, emissions and lifecycle cost compared to conventional generation technologies. Hyliion's KARNO Power Modules enable effective power generation using a wide range of fuel sources, including conventional fuels such as natural gas, propane or diesel, waste fuels such as landfill gas, wellhead gas, and zero carbon fuels such as renewable hydrogen and ammonia. Hyliion is initially targeting the datacenter, commercial, industrial, and defense sectors with a locally-deployable generator designed to meet a wide range of power generation needs. The Company plans to scale up its KARNO Power Module solution to address larger utility-scale power needs and to develop future variants for industrial waste heat, nuclear, household use and e-mobility applications such as vehicles and marine vessels. Additionally, the KARNO Power Module technology is well-suited to provide combined heat and power in various stationary applications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5M | $1.5M | $672.0K | $2.1M | $200.0K | $0 | $0 | — |
| Cost of revenue | $3.3M | $1.4M | $1.7M | $8.8M | $2.7M | $0 | $0 | — |
| Gross profit | $170.0K | $94.0K | -$1.0M | -$6.7M | -$2.5M | $0 | $0 | — |
| R&D | $42.5M | $37.0M | $82.2M | $110.4M | $58.3M | $12.6M | $9.3M | — |
| SG&A | $22.8M | $24.4M | $42.6M | $42.0M | $35.3M | $9.6M | — | — |
| Total operating expenses | $65.7M | $64.4M | $136.3M | $152.4M | $93.6M | $22.2M | $12.0M | — |
| Operating income | -$65.6M | -$64.3M | -$137.4M | -$159.0M | -$96.1M | -$22.2M | -$12.0M | — |
| Interest expense | — | — | — | $0 | $0 | $5.5M | $3.3M | — |
| Pre-tax income | -$57.2M | -$52.0M | -$123.5M | -$153.4M | -$96.0M | $324.1M | $3.1M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$57.2M | -$52.0M | -$123.5M | -$153.4M | -$96.0M | $324.1M | -$14.1M | — |
| EPS, basic | -0.33 | -0.30 | -0.68 | -0.87 | -0.56 | 3.11 | -0.16 | — |
| EPS, diluted | -0.33 | -0.30 | -0.68 | -0.87 | -0.56 | -0.35 | -0.16 | — |
| Shares, diluted (wtd. avg.) | 175.4M | 174.9M | 181.4M | 175.4M | 172.2M | 112.6M | 86.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $22.9M | $9.2M | $21.5M | $120.1M | $259.1M | $389.7M | $6.3M | $1.1M |
| Short-term investments | $69.4M | $110.9M | $150.3M | $193.7M | $118.8M | $201.9M | — | — |
| Receivables | $489.0K | $1.9M | $40.0K | $1.1M | $70.0K | $92.0K | $145.0K | — |
| Inventory | — | — | $0 | $74.0K | $114.0K | $132.0K | — | — |
| Total current assets | $98.6M | $131.0M | $181.7M | $324.2M | $386.5M | $612.4M | $6.8M | — |
| Property, plant and equipment | $40.5M | $25.9M | $10.0M | $5.6M | $2.2M | $1.2M | $1.6M | — |
| Goodwill | — | — | — | $0 | — | — | — | — |
| Other intangibles | — | — | $0 | $200.0K | $235.0K | $332.0K | $429.0K | — |
| Total assets | $203.6M | $263.0M | $328.4M | $446.7M | $578.4M | $655.1M | $14.1M | $400.1K |
| Accounts payable | $3.1M | $5.2M | $4.2M | $2.8M | $7.5M | $1.9M | $1.2M | $10.8K |
| Short-term debt | — | — | — | — | — | $49.0K | $6.7M | — |
| Total current liabilities | $9.9M | $14.3M | $15.1M | $14.7M | $15.2M | $8.8M | $12.4M | $375.7K |
| Long-term debt | — | — | — | — | — | — | — | $580.0K |
| Total liabilities | $11.6M | $18.7M | $22.1M | $23.2M | $24.5M | $14.9M | $32.2M | $375.7K |
| Retained earnings | -$207.0M | -$149.8M | -$97.8M | $25.7M | $179.1M | $275.2M | -$49.0M | -$591 |
| Total equity | $192.0M | $244.4M | $306.3M | $423.6M | $553.9M | $640.2M | -$18.1M | -$4.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$46.5M | -$56.7M | -$117.0M | -$116.9M | -$80.5M | -$22.9M | -$11.1M | — |
| Depreciation and amortisation | $6.0M | $3.1M | $3.5M | $1.2M | $884.0K | $850.0K | $1.0M | — |
| Stock-based compensation | $5.5M | $4.6M | $6.2M | $7.0M | $4.9M | $294.0K | $125.0K | — |
| Capital expenditure | $23.7M | $16.5M | $7.4M | $2.9M | $2.4M | $311.0K | $349.0K | — |
| Investing cash flow | $60.9M | $59.5M | $18.3M | -$22.0M | -$66.0M | -$238.1M | -$349.0K | — |
| Financing cash flow | -$670.0K | -$14.3M | -$15.0K | -$78.0K | $15.9M | $644.5M | $16.6M | — |
| Buybacks | $0 | $14.0M | $33.0K | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-024125.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $0 | $200.0K | $2.1M | $672.0K | $1.5M | $3.5M |
| Gross profit | — | $0 | $0 | -$2.5M | -$6.7M | -$1.0M | $94.0K | $170.0K |
| Net income | — | -$14.1M | $324.1M | -$96.0M | -$153.4M | -$123.5M | -$52.0M | -$57.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Results announced Item 2.02
- Shareholder vote Item 5.07
- Results announced Item 2.02
- Annual report filed Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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