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Hyliion Holdings Reports Third-Quarter 2026 Financial Results

HYLN
  • Hyliion raised its full-year 2026 revenue guidance to approximately $18 million from $15 million following third-quarter revenue of $7.5 million.
  • The company delivered another KARNO Power Module to the U.S. Navy commenced moving equipment to its first commercial customer site.
  • Hyliion anticipates approximately $8 million in additional military contract awards before year-end, bringing total 2026 military awards to roughly $50 million.
  • Remaining authorized funding under existing military contracts stood at $45.5 million as of September 30, 2026.
  • The firm remains on track to achieve the 200-kW power output target for the KARNO Core by the end of 2026.
  • Additive manufacturing improvements could increase printer speeds by up to three times while operations consolidate to Texas.
  • Hyliion ended the quarter with $121.4 million in cash investments maintaining a year-end forecast of $115 million to $120 million.
  • Third-quarter operating expenses declined 15% to $13.0 million with net loss improving 17% to $11.1 million year-over-year.
  • First nine months of 2026 revenue reached $15.2 million compared to $2.8 million in the same period of 2025.
  • Net cash spending for the third quarter was $11.0 million down from $20.6 million in the prior-year quarter.
  • The 800-kW system for the Navy's USX-1 Defiant vessel is expected to be completed in early 2027 following a component redesign.
  • Manufacturing capacity enhancements aim to support 15 MW of yearly production throughput once speed improvements are realized.
  • Hyliion expects to complete remaining early adopter unit deliveries by its fourth-quarter earnings release in February 2027.