I like this! Hehehe
$HYLN.US$ Financial Highlights and Guidance
Second quarter operating expenses totaled $14.0 million, compared to $38.5 million in the prior-year quarter. Expenses include a credit of $556 thousand driven by sales of certain assets of the discontinued powertrain business. Net loss in the second quarter was $10.9 million, compared to $35.2 million in the second quarter of 2023. Net losses for the first half of 2024 were $26.4 million, down significantly from $64.1 million in the first half of 2023. Losses in 2023 were primarily driven by spending related to Hyliion’s discontinued powertrain business.
The company repurchased 1.9 million shares of its common stock in the second quarter for $2.7 million as part of the $20 million share repurchase program announced in late 2023. A total of 10.6 million shares of common stock have been repurchased since the inception of the program at an aggregate cost of $14.0 million. Based on current market conditions, the company does not expect to execute upon further repurchases under the program in the near term but will retain the authority to execute the remaining $6 million if and as deemed appropriate.
Exhibit 99.1
Total changes in cash and investment balances for the quarter were $15.2 million, driven by net operating losses, share repurchases, capital expenditures, and cash generated from powertrain asset sales, net of shutdown expenditures. Total cash and investments at the end of the quarter were $249 million.
For 2024, total cash consumed for KARNO development and capital investments is expected to be approximately $55 million, up compared to the prior estimate of $40 to $50 million due to higher capital expenditures that support a more rapid build-out of additive printing capacity in Austin. 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.
Projections for 2025 include growth of KARNO generator deliveries, with proceeds from sales 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, and cash spending to grow modestly compared to 2024.
Second quarter operating expenses totaled $14.0 million, compared to $38.5 million in the prior-year quarter. Expenses include a credit of $556 thousand driven by sales of certain assets of the discontinued powertrain business. Net loss in the second quarter was $10.9 million, compared to $35.2 million in the second quarter of 2023. Net losses for the first half of 2024 were $26.4 million, down significantly from $64.1 million in the first half of 2023. Losses in 2023 were primarily driven by spending related to Hyliion’s discontinued powertrain business.
The company repurchased 1.9 million shares of its common stock in the second quarter for $2.7 million as part of the $20 million share repurchase program announced in late 2023. A total of 10.6 million shares of common stock have been repurchased since the inception of the program at an aggregate cost of $14.0 million. Based on current market conditions, the company does not expect to execute upon further repurchases under the program in the near term but will retain the authority to execute the remaining $6 million if and as deemed appropriate.
Exhibit 99.1
Total changes in cash and investment balances for the quarter were $15.2 million, driven by net operating losses, share repurchases, capital expenditures, and cash generated from powertrain asset sales, net of shutdown expenditures. Total cash and investments at the end of the quarter were $249 million.
For 2024, total cash consumed for KARNO development and capital investments is expected to be approximately $55 million, up compared to the prior estimate of $40 to $50 million due to higher capital expenditures that support a more rapid build-out of additive printing capacity in Austin. 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.
Projections for 2025 include growth of KARNO generator deliveries, with proceeds from sales 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, and cash spending to grow modestly compared to 2024.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
