Hyliion Holdings Corp. (HYLN) Earnings History

Hyliion Holdings Corp. - Q4 FY2025 EarningsMet

Filed at: Feb 24, 2026, 5:46 PM EST|Read from source

EXECUTIVE SUMMARY

Hyliion Holdings Corp. reported its fourth-quarter and full-year 2025 financial results, highlighting progress in product development and validation for its KARNO generator platform. The company is on track for commercialization by year-end 2026, with initial deliveries and military contract awards anticipated.

POSITIVE HIGHLIGHTS

  • •

    KARNO Power Module achieved over 100 days of operational testing with no unplanned hardware-related downtime.

    positive
  • •

    Successfully completed mission-representative U.S. Navy load profile testing on a Navy-owned KARNO asset.

    positive
  • •

    Entered into a strategic partnership with ABM Industries to jointly deliver integrated distributed energy solutions.

    positive
  • •

    Advanced UL certification, completing testing of the linear electric motor and battery pack, with full Power Module certification expected next quarter.

    positive

CONCERNS & RISKS

  • •

    Full year 2025 net loss was $57.2 million, an increase from $52.0 million in 2024.

    negative
  • •

    Total revenue for the full year 2025 was $3.5 million, primarily from R&D services, with commercialization expected late 2026.

    attention
  • •

    Full year cash use totaled $67.4 million, with a projected year-end 2026 balance of approximately $100 million, indicating continued cash burn.

    attention
  • •

    Operating expenses for the full year 2025 were $65.7 million, an increase from $64.4 million in 2024, driven by higher R&D activity.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$712.00K
0.0%
Prior year: $712.00K
Net Income
Quarterly
$-13.18M
-8.4%
Prior year: $-14.40M
Annual (YTD)
$-57.19M
N/A
Prior year: $-52.05M
EPS (Diluted)
Quarterly
$-0.07
+12.5%
Prior year: $-0.08
Operating Income
Quarterly
$-14.91M
-12.8%
Prior year: $-17.11M
Annual (YTD)
$-65.55M
N/A
Prior year: $-64.30M
EPS (Basic)
Quarterly
N/A
N/A

MARGIN ANALYSIS

Gross Margin
Current Quarter
10.4%
Prior Year
6.2%
YoY Change
+416 bps
Operating Margin
Current Quarter
-2094.2%
Prior Year
-1133.8%
YoY Change
-96032 bps
Net Margin
Current Quarter
-1851.5%
Prior Year
-953.5%
YoY Change
-89804 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

MANAGEMENT GUIDANCE

FY2026

revenue
$10000.0B—$10000.0B
Mid-point: $10000.0B
"approximately $10 million related to R&D services and initial sales of generators"
cash_use
50,000,000—50,000,000
Mid-point: 50,000,000
"approximately $50 million, resulting in a year-end 2026 balance of approximately $100 million"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

2025 was an important year of advancing product development and completing initial customer units for the U.S. Navy.

— Hyliion Holdings Corp., Q4 FY2025 2025 Earnings Call

This accomplishment gives us confidence as we enter 2026, where our focus shifts to completing all early adopter customer deliveries, expanding business development opportunities and reaching commercialization by the end of the year.

— Hyliion Holdings Corp., Q4 FY2025 2025 Earnings Call

The company is on track to deliver approximately 10 early adopter units in 2026.

— Hyliion Holdings Corp., Q4 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

KARNO Cores Under Non Binding Letters Of Intent
500
cores
KARNO Power Module Power Generation Demonstrated
175
kW
KARNO Units Operational Testing
5
units
Early Adopter Units To Deliver 2026
10
units
Follow On US Military Contracts Expected 2026
40-50 million
USD

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.