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Mar 31, 2023
Hyliion Q1 2023 Earnings Report
Hyliion reported first quarter 2023 financial results.
Key Takeaways
Hyliion reported $310 thousand in revenue related to Hybrid sales. The company ended the first quarter with $385 million of cash, short-term and long-term investments. Updated forward guidance includes total operating expense of approximately $130 million and total cash consumed in operating losses, capital spending and working capital of approximately $150 million for the year.
Hypertruck ERX powertrain production timeline pulled forward and will begin in the third quarter
Making strategic shifts to maintain strong balance sheet position
Hypertruck ERX system to qualify for 100% of ZEV credits under CARB's Advanced Clean Fleet ruling
Ended the quarter with $385 million of total capital
Hyliion
Hyliion
Forward Guidance
Updated forward guidance includes total operating expense of approximately $130 million and total cash consumed in operating losses, capital spending and working capital of approximately $150 million for the year.