Hyliion Holdings Reports Third-Quarter 2024 Financial Results

Business Wire11-15

AUSTIN, Texas, November 14, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) ("Hyliion"), a developer of sustainable electricity-producing technology, today reported its third-...

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(NYSE American: HYLN) (\"Hyliion\"), a developer of sustainable electricity-producing technology, today reported its third-...</p>\n\n<a href=\"https://finance.yahoo.com/news/hyliion-holdings-reports-third-quarter-210500228.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hyliion Holdings Reports Third-Quarter 2024 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHyliion Holdings Reports Third-Quarter 2024 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 05:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/hyliion-holdings-reports-third-quarter-210500228.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AUSTIN, Texas, November 14, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) (\"Hyliion\"), a developer of sustainable electricity-producing technology, today reported its third-...</p>\n\n<a href=\"https://finance.yahoo.com/news/hyliion-holdings-reports-third-quarter-210500228.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HYLN","symbol_name":"Hyliion Holdings Corp.","start_time":0,"source_url":"https://finance.yahoo.com/news/hyliion-holdings-reports-third-quarter-210500228.html","article_id":"2483517353","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/2Na_h4r4VTKl6kpsIG8PMw--~B/aD04MjY7dz00NjY5O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/bd4e7589d10c2c5352eea9c945714187"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483517353","pubTimestamp":1731618300,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"AUSTIN, Texas, November 14, 2024----Hyliion Holdings Corp.  , a developer of sustainable electricity-producing technology, today reported its third-quarter 2024 financial results.On track to deliver initial customer units by year-end and reaffirms guidance of low double-digit millions in revenue for 2025. Secured customer commitments exceeding 2025 KARNO generator production capacity. Announced revenue recognition beginning in Q4 2024 for military development projects. Announced plans to develop a 2-megawatt KARNO generator product targeting the data center market, with expected deployment in 2026. Awarded a contract for up to $16.0 million by the U.S. Navy’s Office of Naval Research  to explore the KARNO generator for Navy ships and stationary power. Announced the KARNO generator qualifies under California’s Renewables Portfolio Standard using renewable fuels such as landfill gas, biogas and hydrogen. Ended the quarter with $237.5 million of cash and investments. Confirmed guidance of","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"HYLN":"Hyliion Holdings Corp.","BK4149":"建筑机械与重型卡车"},"translate_title":"Hyliion Holdings报告2024年第三季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HYLN":0.9},"content_text":"AUSTIN, Texas, November 14, 2024--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) (\"Hyliion\"), a developer of sustainable electricity-producing technology, today reported its third-quarter 2024 financial results.\nKey Business Highlights\n\nOn track to deliver initial customer units by year-end and reaffirms guidance of low double-digit millions in revenue for 2025\nSecured customer commitments exceeding 2025 KARNO™ generator production capacity\nAnnounced revenue recognition beginning in Q4 2024 for military development projects\nAnnounced plans to develop a 2-megawatt KARNO generator product targeting the data center market, with expected deployment in 2026\nAwarded a contract for up to $16.0 million by the U.S. Navy’s Office of Naval Research (ONR) to explore the KARNO generator for Navy ships and stationary power\nExecuted an LOI with ANA, a leader in industrial equipment, for up to 6 KARNO units in mobile power applications\nAnnounced the KARNO generator qualifies under California’s Renewables Portfolio Standard using renewable fuels such as landfill gas, biogas and hydrogen\nSuccessfully demonstrated the KARNO generator’s fuel-agnostic capabilities by transitioning between multiple fuel types without interrupting operation\nEnded the quarter with $237.5 million of cash and investments\nConfirmed guidance of approximately $55 million in cash expenditures in 2024 for KARNO development including capital investments\n\nExecutive Commentary\n\"Hyliion is pleased to report several exciting developments this quarter, including a significant contract with the ONR, the planned development of a 2-megawatt KARNO system, and customer commitments in excess of our 2025 production capacity,\" stated Thomas Healy, Hyliion’s Founder and CEO. \"These milestones highlight the strong demand for the KARNO generator and its versatility as a power generation solution across multiple applications. We are also looking forward to our first customer deliveries later this year, followed by a ramp-up in deliveries throughout next year.\"\nKARNO Commercial Updates\nHyliion is developing a locally deployable 200kW generator system which it intends to deliver to initial customers beginning in late 2024. Target markets in the commercial power space include EV Charging, Data Centers, Waste Gas & Heat, Prime Power, and Mobility applications. Initial customer deployments will target these markets to demonstrate the versatility of the KARNO generator as well as key product attributes and differentiators versus competing technologies, including efficiency, emissions, fuel flexibility, and operating and maintenance costs. The Company will also garner useful feedback and information on the performance of the generator in these early deployments.\nThe Company announced during the quarter that a new contract with the Office of Naval Research, combined with two earlier contracts, will provide revenue of up to $17.2 million to perform research and development services related to KARNO generator applications for the U.S. Navy, including the purchase of up to seven KARNO generators. Hyliion believes the KARNO generator can provide a versatile, efficient, and reliable power solution to meet the unique demands of U.S. naval operations in maritime environments. Upon successful validation and demonstration, the KARNO generator could be used as an electric power system in future maritime platforms and for stationary power needs.\nHyliion anticipates beginning to recognize revenue in the fourth quarter of 2024 related to the development work and delivery of KARNO units associated with the military contracts.\nHyliion has now secured customer commitments exceeding its 2025 production capacity, with additional letters of intent already in place for 2026 deliveries. During the quarter, Hyliion announced the execution of a letter of intent (LOI) with ANA, a leading provider of innovative and reliable solutions in the industrial equipment industry, to procure up to six KARNO generators and launch a mobile generator application pilot trial. These customer commitments are executed as non-binding LOIs and are subject to the execution of definitive sales agreements prior to deliveries.\nIn addition, Hyliion’s KARNO generator, when operating on select renewable fuels, is set to qualify as an eligible technology under California’s Renewables Portfolio Standard (RPS) following the passage of Assembly Bill 1921. This eligibility positions KARNO technology to support California’s climate goals by delivering a versatile, low-emission power generation solution capable of utilizing renewable fuels such as landfill gas, biogas, and hydrogen.\nKARNO Generator Development\nThe Company announced plans today to develop a 2-megawatt KARNO generator system tailored to meet the growing electricity demands of data center operations, driven by the rapid expansion of computing needs and artificial intelligence applications. The generator will provide data centers with a high-power, efficient, and low emission solution within a compact footprint roughly the size of a 20-foot shipping container. The KARNO generator's unique fuel flexibility and high-power density offer data center operators an advantage over other conventional power solutions. The Company expects initial 2-megawatt systems to be deployed in 2026.\nHyliion successfully demonstrated the KARNO generator’s fuel-agnostic capabilities by transitioning between multiple fuel types during operation without interruption. This achievement highlights the generator’s ability to handle impure or mixed fuels, making it ideal for applications in industries like oil and gas, waste gas recovery, and other environments where fuel flexibility is advantageous.\nHyliion continued to take delivery of additive printing machines during the quarter at its Austin, Texas manufacturing facility and placed orders for additional printer deliveries extending through mid 2025. The Company expects to take delivery of its first M Line production additive printer from Colibrium Additive, a GE Aerospace company, in the coming weeks. These advanced printers are designed for volume production and will assist with Hyliion’s production ramp.\nFinancial Highlights and Guidance\nThird quarter operating expenses totaled $14.2 million, compared to $33.3 million in the prior-year quarter. Expenses were offset by a credit of $929 thousand from the sale of assets related to the discontinued powertrain business. Net loss in the third quarter was $11.2 million, compared with $30.3 million in the third quarter of 2023. Year-to-date net loss through September 2024 was $37.7 million, down significantly from $94.4 million during the first three quarters of 2023. Losses in 2023 were primarily driven by spending related to Hyliion’s discontinued powertrain business.\nTotal changes in cash and investment balances for the quarter were $11.2 million, driven by net operating losses and capital expenditures, partly offset by cash generated from interest income and powertrain asset sales. Total cash and investments at the end of the quarter were $237.5 million.\nFor 2024, total cash consumed for KARNO development and capital investments is expected to be approximately $55 million. This estimate excludes cash payments associated with share repurchases that have already been conducted during 2024, and payments and asset sales associated with the wind down of powertrain operations. Hyliion continues to expect it will achieve commercialization of the KARNO generator with capital on hand.\nProjections for 2025 include growth of KARNO generator deliveries, with proceeds from sales and research and development services in the low double-digit millions of dollars. The Company is also targeting approximately break-even gross margins on a cash basis by late 2025 or early 2026, with cash spending to grow modestly compared to 2024.\nAbout Hyliion\nHyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable generator that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.\nForward Looking Statements\nThe information in this press release includes \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words \"could,\" \"should,\" \"will,\" \"may,\" \"believe,\" \"anticipate,\" \"intend,\" \"estimate,\" \"expect,\" \"project,\" the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage company with a history of losses, and our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business; our ability to comply with governmental regulations related to defense spending and procurement; the suitability of our products for defense applications; and the other risks and uncertainties described under the heading \"Risk Factors\" in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the \"SEC\") on February 13, 2024 for the year ended December 31, 2023 and in our subsequently filed Forms 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.\n\n\n\nHYLIION HOLDINGS CORP.\n\n\nUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS\n\n\n(Dollar amounts in thousands, except share and per share data)\n\n\n\n\n\n\nThree Months EndedSeptember 30,\n\nNine Months EndedSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nRevenues\n\n\n\n\n\n\n\n\n\nProduct sales and other\n$\n—\n\n\n$\n96\n\n\n$\n—\n\n\n$\n672\n\n\n\nTotal revenues\n\n—\n\n\n\n96\n\n\n\n—\n\n\n\n672\n\n\n\nCost of revenues\n\n\n\n\n\n\n\n\n\nProduct sales and other\n\n—\n\n\n\n677\n\n\n\n—\n\n\n\n1,675\n\n\n\nTotal cost of revenues\n\n—\n\n\n\n677\n\n\n\n—\n\n\n\n1,675\n\n\n\nGross loss\n\n—\n\n\n\n(581\n)\n\n\n—\n\n\n\n(1,003\n)\n\n\nOperating expenses\n\n\n\n\n\n\n\n\n\nResearch and development\n\n9,462\n\n\n\n25,115\n\n\n\n25,741\n\n\n\n73,472\n\n\n\nSelling, general and administrative\n\n5,648\n\n\n\n8,186\n\n\n\n18,502\n\n\n\n30,265\n\n\n\nExit and termination costs\n\n(929\n)\n\n\n—\n\n\n\n2,946\n\n\n\n—\n\n\n\nTotal operating expenses\n\n14,181\n\n\n\n33,301\n\n\n\n47,189\n\n\n\n103,737\n\n\n\nLoss from operations\n\n(14,181\n)\n\n\n(33,882\n)\n\n\n(47,189\n)\n\n\n(104,740\n)\n\n\nInterest income\n\n2,979\n\n\n\n3,534\n\n\n\n9,504\n\n\n\n10,345\n\n\n\nGain on disposal of assets\n\n—\n\n\n\n—\n\n\n\n3\n\n\n\n1\n\n\n\nOther income, net\n\n—\n\n\n\n26\n\n\n\n32\n\n\n\n14\n\n\n\nNet loss\n$\n(11,202\n)\n\n$\n(30,322\n)\n\n$\n(37,650\n)\n\n$\n(94,380\n)\n\n\n\n\n\n\n\n\n\n\n\n\nNet loss per share, basic and diluted\n$\n(0.06\n)\n\n$\n(0.17\n)\n\n$\n(0.21\n)\n\n$\n(0.52\n)\n\n\n\n\n\n\n\n\n\n\n\n\nWeighted-average shares outstanding, basic and diluted\n\n173,612,768\n\n\n\n181,641,060\n\n\n\n175,302,069\n\n\n\n180,914,250\n\n\n\n\n\n\n\nHYLIION HOLDINGS CORP.\n\n\nCONDENSED CONSOLIDATED BALANCE SHEETS\n\n\n(Dollar amounts in thousands, except share data)\n\n\n\n\n\n\nSeptember 30, 2024\n\nDecember 31, 2023\n\n\n\n(Unaudited)\n\n\n\n\nAssets\n\n\n\n\n\nCurrent assets\n\n\n\n\n\nCash and cash equivalents\n$\n28,065\n\n\n$\n12,881\n\n\n\nAccounts receivable\n\n1,257\n\n\n\n40\n\n\n\nPrepaid expenses and other current assets\n\n5,678\n\n\n\n18,483\n\n\n\nShort-term investments\n\n122,897\n\n\n\n150,297\n\n\n\nAssets held for sale\n\n3,463\n\n\n\n—\n\n\n\nTotal current assets\n\n161,360\n\n\n\n181,701\n\n\n\n\n\n\n\n\n\nProperty and equipment, net\n\n17,428\n\n\n\n9,987\n\n\n\nOperating lease right-of-use assets\n\n5,779\n\n\n\n7,070\n\n\n\nOther assets\n\n1,173\n\n\n\n1,439\n\n\n\nLong-term investments\n\n86,545\n\n\n\n128,186\n\n\n\nTotal assets\n$\n272,285\n\n\n$\n328,383\n\n\n\n\n\n\n\n\n\nLiabilities and stockholders’ equity\n\n\n\n\n\nCurrent liabilities\n\n\n\n\n\nAccounts payable\n$\n1,654\n\n\n$\n4,224\n\n\n\nCurrent portion of operating lease liabilities\n\n1,531\n\n\n\n847\n\n\n\nAccrued expenses and other current liabilities\n\n5,975\n\n\n\n10,051\n\n\n\nTotal current liabilities\n\n9,160\n\n\n\n15,122\n\n\n\n\n\n\n\n\n\nOperating lease liabilities, net of current portion\n\n4,997\n\n\n\n6,792\n\n\n\nOther liabilities\n\n400\n\n\n\n203\n\n\n\nTotal liabilities\n\n14,557\n\n\n\n22,117\n\n\n\n\n\n\n\n\n\nCommitments and contingencies\n\n\n\n\n\n\n\n\n\n\n\nStockholders’ equity\n\n\n\n\n\nCommon stock, $0.0001 par value; 250,000,000 shares authorized; 184,335,183 and 183,071,317 shares issued at September 30, 2024 and December 31, 2023, respectively; 173,725,113 and 183,034,255 shares outstanding as of September 30, 2024 and December 31, 2023, respectively\n\n18\n\n\n\n18\n\n\n\nAdditional paid-in capital\n\n407,259\n\n\n\n404,045\n\n\n\nTreasury stock, at cost; 10,610,070 and 37,062 shares as of September 30, 2024 and December 31, 2023, respectively\n\n(14,135\n)\n\n\n(33\n)\n\n\nAccumulated deficit\n\n(135,414\n)\n\n\n(97,764\n)\n\n\nTotal stockholders’ equity\n\n257,728\n\n\n\n306,266\n\n\n\nTotal liabilities and stockholders’ equity\n$\n272,285\n\n\n$\n328,383\n\n\n\n\n\n\n\nHYLIION HOLDINGS CORP.\n\n\nUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n\n\n(Dollar amounts in thousands)\n\n\n\n\n\n\nNine Months EndedSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nCash flows from operating activities\n\n\n\n\n\nNet loss\n$\n(37,650\n)\n\n$\n(94,380\n)\n\n\nAdjustments to reconcile net loss to net cash used in operating activities:\n\n\n\n\n\nDepreciation and amortization\n\n2,140\n\n\n\n1,796\n\n\n\nAmortization and accretion of investments, net\n\n(2,489\n)\n\n\n(1,821\n)\n\n\nNoncash lease expense\n\n1,291\n\n\n\n1,072\n\n\n\nInventory write-down\n\n—\n\n\n\n992\n\n\n\nGain on disposal of assets, including assets held for sale\n\n(2,109\n)\n\n\n(1\n)\n\n\nShare-based compensation\n\n3,541\n\n\n\n5,170\n\n\n\nCarrying value adjustment to assets held for sale\n\n5,564\n\n\n\n—\n\n\n\nChanges in operating assets and liabilities:\n\n\n\n\n\nAccounts receivable\n\n(580\n)\n\n\n996\n\n\n\nInventory\n\n—\n\n\n\n(1,057\n)\n\n\nPrepaid expenses and other assets\n\n(5,215\n)\n\n\n(1,200\n)\n\n\nAccounts payable\n\n(2,655\n)\n\n\n555\n\n\n\nAccrued expenses and other liabilities\n\n(4,018\n)\n\n\n(3,295\n)\n\n\nOperating lease liabilities\n\n(1,111\n)\n\n\n(1,254\n)\n\n\nNet cash used in operating activities\n\n(43,291\n)\n\n\n(92,427\n)\n\n\n\n\n\n\n\n\nCash flows from investing activities\n\n\n\n\n\nPurchase of property and equipment\n\n(10,548\n)\n\n\n(6,755\n)\n\n\nProceeds from sale of property and equipment\n\n4,110\n\n\n\n2\n\n\n\nPayments for security deposit, net\n\n—\n\n\n\n(45\n)\n\n\nPurchase of investments\n\n(55,383\n)\n\n\n(170,197\n)\n\n\nProceeds from sale and maturity of investments\n\n126,686\n\n\n\n178,556\n\n\n\nNet cash provided by investing activities\n\n64,865\n\n\n\n1,561\n\n\n\n\n\n\n\n\n\nCash flows from financing activities\n\n\n\n\n\nProceeds from exercise of common stock options\n\n67\n\n\n\n230\n\n\n\nTaxes paid related to net share settlement of equity awards\n\n(393\n)\n\n\n(232\n)\n\n\nRepurchase of treasury stock\n\n(13,982\n)\n\n\n—\n\n\n\nNet cash used in financing activities\n\n(14,308\n)\n\n\n(2\n)\n\n\n\n\n\n\n\n\nNet increase (decrease) in cash and cash equivalents and restricted cash\n\n7,266\n\n\n\n(90,868\n)\n\n\nCash and cash equivalents and restricted cash, beginning of period\n\n21,464\n\n\n\n120,133\n\n\n\nCash and cash equivalents and restricted cash, end of period\n$\n28,730\n\n\n$\n29,265\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241114223188/en/\nContacts\nHyliion Holdings Corp. press@hyliion.com\nInvestor Relations ir@hyliion.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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