Q1 2025 Hyliion Holdings Corp Earnings Call Transcript
Key Points
- Hyliion Holdings Corp (HYLN) unveiled the Karno Power module publicly for the first time at the ACT Expo, receiving positive feedback from current and prospective customers.
- The company signed a non-binding LOI with Mesa Natural Gas Solutions, indicating potential for up to 12 Karno units, expanding deployment applications.
- Hyliion Holdings Corp (HYLN) has over 100 units under non-binding LOIs across various markets, building a healthy backlog of interest.
- The company has initial definitive agreements with early adopter customers, including the US Navy and Fortune 500 companies.
- Hyliion Holdings Corp (HYLN) expects to commercially launch the Karno Power module by year-end and anticipates revenue between $10 million and $15 million for 2025.
- Production issues with linear electric motors have delayed the delivery of early adopter units, impacting the deployment schedule.
- Challenges with depowdering complex printed parts have consumed part of the company's schedule flexibility for the year.
- Operating expenses increased to $19.7 million in Q1 2025, up from $19 million in the same quarter of 2024.
- The company recorded a net loss of $17.3 million in Q1 2025, up from $15.6 million in Q1 2024.
- Tariffs on additive printers assembled in Germany are expected to increase capital spending by $2 million to $3 million in 2025.
Hello and thank you for standing by. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to the High Leon Holdings first quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. (Operator Instructions)
Thank you. I would now like to turn the call over to Chief Accounting Officer Greg Stanley. Please go ahead.
Thank you and good morning everyone. Welcome to Highly on Holding's first quarter 2025 earnings conference call. On today's call are Thomas Healy, our Chief Executive Officer, and John Tanzer, our Chief Financial Officer. A slide presentation accompanying this call is available on Haleon's investor relations website at investors.haon.com. Please note that during today's call we will be making certain forward-looking statements regarding the company's business outlook.
Forward-looking statements are predictions, projections, and other statements about anticipated
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