Published on 8 Nov 2023 on GuruFocus.com via Yahoo Finance
Hyliion Holdings Corp (HYLN) Shifts Focus to KARNO Generator Amidst Powertrain Wind Down
Hyliion Holdings Corp (NYSE:HYLN) reports a strategic shift to concentrate on the KARNO generator while winding down powertrain operations.Q3 2023 financials show a net loss of $30.3 million, with operating expenses reduced to $33.3 million from $62.9 million in the prior-year quarter.Hyliion ends Q3 with $324 million in cash, short-term, and long-term investments, projecting a cash burn of approximately $40 million in 2024.The company expects to finish 2023 with approximately $285 million in available capital.
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