By Chris Wack

Hyliion Holdings shares were 26% higher, at $3.37, after the company narrowed its first-quarter loss and reported higher revenue.

The stock hit its 52-week high of $3.40 earlier in the session, and is 77% higher in the past 12 months.

The company, which develops modular power-plant technology, reported a quarterly loss of $11.7 million, or 7 cents a share, compared with a loss of $17.3 million, or 10 cents a share, in the same quarter last year.

Revenue for the quarter was $2.83 million, compared with $489,000 last year.

Hyliion said the revenue growth reflected an acceleration of work under its contracts with the Office of Naval Research, including the build of the 800-kilowatt Karno power module being delivered for the Navy. Cost of revenue was $2.6 million, resulting in a gross margin gain of $200,000 for the quarter, it said.

The company said it is backing its previous full-year revenue guidance of about $10 million.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 13, 2026 13:23 ET (17:23 GMT)

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