Hyliion Holdings Corp. has posted a income of $1.5 million and a web lack of $13.4 million for the second quarter of 2025. The corporate didn’t document any income for the second quarter of 2024, when it took a web lack of $10.8 million.
Nevertheless, the delayed commercialization of its KARNO product has pushed Hyliion to revise its 2025 income steerage to $5-10 million from $10-15 million beforehand.
Working bills totaled $15.8 million, in comparison with $14.0 million for the prior-year quarter. The rise was primarily pushed by larger analysis and growth bills, which rose to $10.1 million, up from $8.3 million for the second quarter of 2024, the corporate stated.
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12 months-to-date income was $2.0 million, with a web lack of $30.7 million, in comparison with a web lack of $26.4 million for the primary half of 2024, which logged no income.
Hyliion stated it has resumed manufacturing KARNO programs and delivered its second Early Adopter KARNO unit to the U.S. Navy. Each models are present process testing on the Cincinnati facility to confirm efficiency and collect insights for design enhancements, according to the Early Adopter program. Hyliion added that it’s near ending two further KARNO Energy Modules, one for UL certification, a vital step towards commercialization, and one other for a business buyer after preliminary Cincinnati exams.
The corporate additionally acquired a Section II Small Enterprise Innovation Analysis contract, valued as much as $1.5 million, to advance its analysis and growth efforts with the U.S. Navy for shipboard and stationary purposes. The contract goals to develop software program for managing Cores inside a multi-megawatt KARNO system. Moreover, the U.S. Air Pressure acknowledged the KARNO Energy Module as an “awardable know-how,” highlighting its potential to produce energy throughout gasoline disruptions and assist broader navy energy calls for, Hyliion stated.
Hyliion stated that below the One Huge Stunning Invoice Act (OBBBA), vitality initiatives incorporating its KARNO Energy Module that start development in 2026 or later will qualify for a 30 p.c ITC masking each the generator system and its related supporting infrastructure.
“We’re happy that linear turbines just like the KARNO Energy Module have been acknowledged below the OBBBA as an rising know-how important for advancing U.S. vitality infrastructure progress”, Thomas Healy, Founder and CEO of Hyliion, stated. “The 30 p.c funding tax credit score will incentivize extra speedy adoption of fuel-flexible, clear, and environment friendly KARNO turbines by our prospects”.
“Through the previous quarter, we addressed the numerous points that slowed deployments earlier within the 12 months, together with efficiently transitioning LEM manufacturing to our Austin facility, confirming the effectiveness of a brand new depowdering course of, and designing a brand new regen we imagine will obtain our efficiency necessities. We additionally count on to see a near-term ramp up within the tempo of Early Adopter unit deployments with our prospects”, he added.
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