Published on 13 Feb 2024 on GuruFocus.com via Yahoo Finance
Hyliion Holdings Corp (HYLN) Embraces KARNO Generator Development Amid Powertrain Wind-Down
Revenue: Reported modest product sales and other revenues of $672,000 for the year ended December 31, 2023.Net Loss: Recorded a net loss of $123.5 million for the year, a slight improvement from the $153.4 million loss in 2022.Cash Position: Ended the year with a strong cash and investment balance of $291 million.Operating Expenses: Fourth-quarter operating expenses increased slightly to $32.6 million, including $11.5 million related to powertrain wind-down.Strategic Shift: Focusing on the KARNO generator development, with initial deployments expected in late 2024.Stock Repurchase Program: Announced a $20 million stock repurchase program, reflecting confidence in the company's future.Guidance: Projects cash expenditures for KARNO development in 2024 to be between $40 and $50 million.
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