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2021-08-12

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Hyliion: We're On Track to Launch Next Year, No Additional Cash Needed

The truck drivetrain company spent $23.4 million in the second quarter as it geared up to ship its h

Hyliion: We're On Track to Launch Next Year, No Additional Cash Needed

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The company has two products: a system that can be retrofitted to an existing diesel truck to turn it into a hybrid, and a complete hybrid drivetrain called Hypertruck ERX.</p>\n<p>The company has already shipped a few of its hybrid systems and, in line with customer feedback, is working on an improved version that will launch later this year. It plans to have demo trucks fitted with its Hypertruck ERX system available by the end of the current quarter, and it expects to be shipping the product to customers by the end of 2022.</p>\n<p></p>\n<p>Right now, Hyliion is working on getting those products ready to ship while building out its sales and distribution networks. Here are the highlights from its second-quarter report.</p>\n<ul>\n <li>Hyliion now has a chief operating officer. Dennis Gallagher, a veteran of the heavy-truck industry who was most recently president of big-rig parts supplier Jacobs Vehicle Systems, will lead Hyliion's commercialization efforts.</li>\n <li>As originally designed, the Hypertruck ERX system is an electric drivetrain with an on-board \"range extender,\" a generator fueled by natural gas. Last month, the company announced a new version that will offer 75 miles of fully electric range, enough to qualify for zero-emission vehicle (ZEV) sales credits in California. Those credits can be sold to other vehicle makers. (Both versions of the Hypertruck ERX system will offer over 1,000 miles of total range, Hyliion said.)</li>\n <li>It is finalizing an improved version of its hybrid product that, it said, will be easier to install. It expects to begin shipping the product, and recognizing revenue, by the end of the year.</li>\n <li>Detmar Logistics, an oil-field services company, has reserved 300 units of the Hypertruck ERX powertrain.</li>\n</ul>\n<p>The company also confirmed that it has ample cash on hand to get both products to market.</p>\n<h3><b>What Hyliion's CEO had to say</b></h3>\n<p>CEO Thomas Healy said that Hyliion will hit a significant milestone when it takes its Hypertruck ERX demo trucks \"on the road\" to potential fleet customers this fall: \"As fleets experience the benefits of our Hypertruck ERX firsthand -- like improved driver experience, improved performance versus diesel, and the means to reduce operating costs while offering the ability to reduce carbon emissions more than any other alternative fuel option available now or in the works -- we expect customer interest and excitement to continue to grow.\"</p>\n<h3><b>Looking ahead: Hyliion's latest guidance for the full year</b></h3>\n<ul>\n <li>While Hyliion expects to recognize some revenue from its hybrid product before year-end, it said thatauto investorsshould not expect it to have \"material\" revenue this year.</li>\n <li>The company now expects its operating expenses for the year to total between $130 million and $140 million, a bit lower than its prior guidance of $140 million. It spent $40.17 million on operations in the first half of 2021.</li>\n</ul>\n<p><b>The raw numbers</b></p>\n<table>\n <tbody>\n  <tr>\n   <th>Metric</th>\n   <th>Q2 2021</th>\n   <th>Q2 2020</th>\n  </tr>\n  <tr>\n   <td>Research and development spending</td>\n   <td>$13.39 million</td>\n   <td>$2.55 million</td>\n  </tr>\n  <tr>\n   <td>Operating income (loss)</td>\n   <td>($23.44 million)</td>\n   <td>($3.43 million)</td>\n  </tr>\n  <tr>\n   <td>Net income (loss)</td>\n   <td>($23.24 million)</td>\n   <td>($4 million)</td>\n  </tr>\n  <tr>\n   <td>Net income (loss) per share</td>\n   <td>($0.13)</td>\n   <td>($0.05)</td>\n  </tr>\n </tbody>\n</table>\n<p>DATA SOURCE: HYLIION HOLDINGS.</p>\n<p>As of June 30, Hyliion had $317.7 million in cash and equivalents, along with investments totaling $299.7 million, for total available liquidity of $617.4 million.</p>\n<p></p>","collect":0,"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: We're On Track to Launch Next Year, No Additional Cash Needed</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: We're On Track to Launch Next Year, No Additional Cash Needed\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-12 10:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/11/hyliion-were-on-track-to-launch-next-year-no-addit/><strong>The Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The truck drivetrain company spent $23.4 million in the second quarter as it geared up to ship its hybrid-semi system later this year.\nKey Points\n\nHyliion's second-quarter loss was narrower than Wall ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/11/hyliion-were-on-track-to-launch-next-year-no-addit/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HYLN":"Hyliion Holdings Corp."},"source_url":"https://www.fool.com/investing/2021/08/11/hyliion-were-on-track-to-launch-next-year-no-addit/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183353569","content_text":"The truck drivetrain company spent $23.4 million in the second quarter as it geared up to ship its hybrid-semi system later this year.\nKey Points\n\nHyliion's second-quarter loss was narrower than Wall Street's forecast.\nThe company is revamping its hybrid heavy-truck system for launch by the end of 2021\nBut it says it won't have \"material\" revenue until next year.\n\n\nElectric truck drivetrain start-up Hyliion Holdings Corp. said that it lost $23.4 million in the second quarter, less than expected, as it continued to make progress toward the launch of its hybrid and zero-emissions drivetrains for semi trucks.\nOn a per-share basis, Hyliion lost $0.13 in the second quarter, better than the average estimate of $0.21 per share among Wall Street analysts polled by Thomson Reuters.\nBut the company said it still doesn't expect to generate \"material\" revenue until 2022.\nHighlights of Hyliion's second-quarter report\nTexas-based Hyliion is preparing to supply lower-emissions drivetrains that can be fitted to heavy trucks made by any of the six leading global truck makers. The company has two products: a system that can be retrofitted to an existing diesel truck to turn it into a hybrid, and a complete hybrid drivetrain called Hypertruck ERX.\nThe company has already shipped a few of its hybrid systems and, in line with customer feedback, is working on an improved version that will launch later this year. It plans to have demo trucks fitted with its Hypertruck ERX system available by the end of the current quarter, and it expects to be shipping the product to customers by the end of 2022.\n\nRight now, Hyliion is working on getting those products ready to ship while building out its sales and distribution networks. Here are the highlights from its second-quarter report.\n\nHyliion now has a chief operating officer. Dennis Gallagher, a veteran of the heavy-truck industry who was most recently president of big-rig parts supplier Jacobs Vehicle Systems, will lead Hyliion's commercialization efforts.\nAs originally designed, the Hypertruck ERX system is an electric drivetrain with an on-board \"range extender,\" a generator fueled by natural gas. Last month, the company announced a new version that will offer 75 miles of fully electric range, enough to qualify for zero-emission vehicle (ZEV) sales credits in California. Those credits can be sold to other vehicle makers. (Both versions of the Hypertruck ERX system will offer over 1,000 miles of total range, Hyliion said.)\nIt is finalizing an improved version of its hybrid product that, it said, will be easier to install. It expects to begin shipping the product, and recognizing revenue, by the end of the year.\nDetmar Logistics, an oil-field services company, has reserved 300 units of the Hypertruck ERX powertrain.\n\nThe company also confirmed that it has ample cash on hand to get both products to market.\nWhat Hyliion's CEO had to say\nCEO Thomas Healy said that Hyliion will hit a significant milestone when it takes its Hypertruck ERX demo trucks \"on the road\" to potential fleet customers this fall: \"As fleets experience the benefits of our Hypertruck ERX firsthand -- like improved driver experience, improved performance versus diesel, and the means to reduce operating costs while offering the ability to reduce carbon emissions more than any other alternative fuel option available now or in the works -- we expect customer interest and excitement to continue to grow.\"\nLooking ahead: Hyliion's latest guidance for the full year\n\nWhile Hyliion expects to recognize some revenue from its hybrid product before year-end, it said thatauto investorsshould not expect it to have \"material\" revenue this year.\nThe company now expects its operating expenses for the year to total between $130 million and $140 million, a bit lower than its prior guidance of $140 million. It spent $40.17 million on operations in the first half of 2021.\n\nThe raw numbers\n\n\n\nMetric\nQ2 2021\nQ2 2020\n\n\nResearch and development spending\n$13.39 million\n$2.55 million\n\n\nOperating income (loss)\n($23.44 million)\n($3.43 million)\n\n\nNet income (loss)\n($23.24 million)\n($4 million)\n\n\nNet income (loss) per share\n($0.13)\n($0.05)\n\n\n\nDATA SOURCE: HYLIION HOLDINGS.\nAs of June 30, Hyliion had $317.7 million in cash and equivalents, along with investments totaling $299.7 million, for total available liquidity of $617.4 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":384,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}