Hyliion Holdings Corp.

Listed Company

HYLNCIK 0001759631NYSENon-AcceleratedSmaller ReportingTruck & Bus BodiesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.48M

Net Income

$-57.19M

Total Assets

$203.56M

Equity

$192.00M

Shares Out

177.81M

Op. Cash Flow

$-46.55M

Business

Hyliion Holdings Corp. designs and develops modular, fuel-agnostic power generators and provides related research and development services. Its primary product is the KARNO generator system, a linear, thermal-conversion electricity generator enabled by additive manufacturing and offered as 200 kW and modular multi-unit configurations with integrated balance-of-plant components and cloud-based monitoring. Key business activities include KARNO product development, R&D services for third parties and government customers, in‑house additive manufacturing, assembly and early deployments. Hyliion markets and distributes systems primarily in the United States with planned international sales, direct installations and prospective channel partnerships.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	3	2	672,000	2	200,000
Cost of revenues	3	1	2	9	3
Gross profit	170,000	94,000	−1	−7	−3
Research and development	42	37	82	110	58
Selling, general and administrative	23	24	43	42	35
Exit and termination costs	499,000	3	11	0	—
Total operating expenses	66	64	136	152	94
Loss from operations	−66	−64	−137	−159	−96
Interest income	8	12	14	6	779,000
Gain on disposal of assets	14,000	3,000	1,000	—	—
Other income, net	0	32,000	50,000	−32,000	0
Net loss	−57	−52	−124	−153	−96
Net loss per share, basic (in dollars per share)	−0.33	−0.3	−0.68	−0.87	−0.56
Net loss per share, diluted (in dollars per share)	−0.33	−0.3	−0.68	−0.87	−0.56
Weighted-average shares outstanding, basic (in shares)	175	175	181	175	172
Weighted-average shares outstanding, diluted (in shares)	175	175	181	175	172

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	23	9	13	119	258
Accounts receivable, net	489,000	2	40,000	1	70,000
Prepaid expenses and other current assets	5	6	18	10	9
Short-term investments	69	111	150	194	119
Assets held for sale	1	3	0	—	—
Total current assets	99	131	182	324	386
Property and equipment, net	40	26	10	6	2
Operating lease right-of-use assets	3	5	7	6	8
Other assets	1	1	1	2	2
Long-term investments	60	100	128	109	180
Total assets	204	263	328	447	578
Accounts payable	3	5	4	3	7
Current portion of operating lease liabilities	3	2	847,000	347,000	21,000
Accrued expenses and other current liabilities	4	7	—	—	—
Total current liabilities	10	14	15	15	15
Operating lease liabilities, net of current portion	2	4	7	7	9
Other liabilities	41,000	0	203,000	2	667,000
Total liabilities	12	19	22	23	25
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, $0.0001 par value; 250,000,000 shares authorized; 187,878,790 and 184,428,472 shares issued as of December 31, 2025 and 2024, respectively; 177,268,720 and 173,818,402 shares outstanding as of December 31, 2025 and 2024, respectively	19,000	18,000	18,000	18,000	17,000
Additional paid-in capital	413	408	404	398	375
Treasury stock, at cost	−14	−14	−33,000	0	—
Accumulated deficit	−207	−150	−98	26	179
Total stockholders equity	192	244	306	424	554
Total liabilities and stockholders equity	204	263	328	447	578

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	6	3	4	1	884,000
Amortization and accretion of investments, net	−2	−3	−3	1	—
Noncash lease expense	2	2	1	—	—
Gain on disposal of assets, including assets held for sale	−1	−3	—	—	—
Share-based compensation	5	5	6	7	5
Carrying value adjustment to assets held for sale	2	6	0	—	—
Accounts receivable	1	−2	1	−1	22,000
Prepaid expenses and other assets	2	−5	463,000	−571,000	−475,000
Accounts payable	−78,000	−3	1	−5	5
Accrued expenses and other liabilities	−3	−4	−3	5	—
Operating lease liabilities	−2	−847,000	−2	−1	−576,000
Net cash used in operating activities	−47	−57	−117	−117	−81
Purchase of property and equipment	−24	−17	−7	−3	−2
Proceeds from sale of property and equipment	2	5	2,000	152,000	45,000
Receipt of security deposit	41,000	0	—	—	—
Purchase of investments	−46	−96	−190	−269	−318
Proceeds from sale and maturity of investments	129	167	215	264	254
Net cash provided by investing activities	61	59	18	−22	−66
Proceeds from exercise of common stock options	2,000	67,000	257,000	79,000	591,000
Taxes paid related to net share settlement of equity awards	−672,000	−412,000	−239,000	−157,000	0
Repurchase of treasury stock	0	−14	−33,000	0	—
Net cash used in financing activities	−670,000	−14	−15,000	−78,000	16
Net increase (decrease) in cash and cash equivalents and restricted cash	14	−12	−99	−139	−131

Filings

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