Hyliion Holdings Corp. (AMEX:HYLN) shares are facing heavy selling pressure Wednesday after the company reported mixed third-quarter financial results on Tuesday after the market closed.
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What To Know: Hyliion reported a loss of 8 cents per share, beating the consensus estimate of a 9 cent-loss. In addition, the company reported sales of $759,000, missing the consensus estimate of $1.65 million.
The company said its KARNO Power Module achieved the performance required by initial customers, enabling additional deployments. Hyliion completed over 100 days of operational testing with no unplanned hardware-related downtime and demonstrated emissions performance exceeding the most stringent local standards.
Hyliion received confirmation from the Environmental Protection Agency that the KARNO system is not federally regulated, which simplifies deployment for customers. The company also demonstrated the system's ability to switch seamlessly between natural gas and propane while maintaining stable power output.
CEO Thomas Healy said the company is "now meeting our initial customers' performance requirements, enabling further system deployments in real-world applications."
The company ended the quarter with $165 million in cash and investments and expects to generate about $4 million in full-year 2025 revenue, with commercialization of the KARNO Power Module targeted for 2026.
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HYLN Price Action: At the time of writing, Hyliion shares were down 14.45% at $1.86, according to data from Benzinga Pro.
Image: courtesy of Hyliion.