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Dec 31, 2024
Hyliion Q4 2024 Earnings Report
Hyliion reported its fourth-quarter and full-year 2024 financial results, including revenue from research and development services and a net loss.
Key Takeaways
Hyliion reported $1.5 million in revenue for the fourth quarter of 2024, primarily from research and development services, and a net loss of $14.4 million. The company secured commitments for over 100 KARNO™ generators and delivered its first Early Adopter Customer Unit in early 2025.
Delivered the first Early Adopter Customer Unit of the KARNO generator in early 2025.
Secured commitments for over 100 KARNO™ generators, establishing a multiyear backlog.
Recorded $1.5 million in revenue for research and development services in Q4 2024.
Ended the year with $220 million in cash and investments.
Hyliion
Hyliion
Hyliion Revenue by Segment
Revenue by Segment
R&D Services Revenue
CapyFin.com Forward Guidance
Hyliion projects 2025 revenue between $10 million and $15 million, including generator sales and research and development services. Total cash expenditures are expected to be similar to 2024, around $60 million, net of planned lease financing for some capital investments.
Positive Outlook
- Projected 2025 revenue of $10 to $15 million, including generator sales.
- Continued customer deliveries and commercialization of the 200 kW generator later in 2025.
- Plans to deliver ten Early Adopter Customer Units by mid-2025.
- Ongoing testing and validation of the 200 kW KARNO generator system.
- Expansion of manufacturing capacity with additional additive printing machines.
Challenges Ahead
- Expected total cash expenditures of approximately $60 million in 2025.
- Adjusted initial delivery timeline for Early Adopter Customer Units from late 2024 to early 2025 due to manufacturing challenges.
- Challenges related to a key contract manufacturer and processing of a printed component.
- Customer LOIs are non-binding and subject to execution of binding commercial agreements.
- No specific negative guidance points were highlighted beyond the expected expenditures and manufacturing adjustments.