Hyliion : First Quarter Conference Call Presentation
HYLN
Published on 05/12/2026 at 04:46 pm EDT
2026 1ST qUARTER EARNINgS CALL
May 13th, 2026
HYLIION® 2026 | Proprietary
3
UL CERTIFICATION
✓
✓
✓
Linear Electric Motor
Battery System
Complete Power Module
Successful Completion of All Non-Recurring UL Certification Testing Across All Three Systems
HYLIION® 2026 | Proprietary
Awards are subject to customary government contract processes
4
Strong & Growing Interest with
Military (expecting $40-50M of additional contracts in 2026) and Data Center Customers
On Schedule for this Year to
Complete the ~10 Early Adopter Units
CUSTOMER DEPLOYMENTS & DEMAND
HYLIION® 2026 | Proprietary
Customer commitments are executed as non-binding MOU/LOI and are
s
ubject to the execution of a definitive sales agreement prior to deliveries
5
PARTNERSHIP UPDATES
Executed Non-Binding LOI to Deploy up to 250 KARNO Cores (50 Megawatts)
over the Next 5 Years in Advanced Data Center Applications
PRODUCT
DEVELOPMENT
Full 200 kW Design Power Rating
Expected by Year End
Successfully Demonstrated Multi-Fuel Switching within the KARNO Reactor
Fuel Flexibility Expands our Reach in Defense Applications
HYLIION® 2026 | Proprietary 6
MULTI-MEGAWATT
800KW NAVY SYSTEM, ADAPTABLE TO 2.4 &
800KW NAVY SYSTEM BUILD HAS COMMENCED
HYLIION® 2026 | Proprietary Image shown is for illustrative purposes only and is subject to change 7
Current Print Capacity Expected to be Sufficient
for 2026, 2027, and into 2028 Production Plans*
HYLIION® 2026 | Proprietary
*Current print capacity includes a few additional machines expected to be installed in 2026 8
HYLIION® 2026 | Proprietary
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Commercial and R&D Services Revenue of $10 million
Commercialization of 200kW KARNO Power Module
Complete Remaining Early Adopter Deployments
New R&D Contract with U.S. Military
Printer Speed Enhancements
Complete 800kW US Navy Multi-KARNO System
Multi-KARNO Power Module Operation
Initial Customer Site Deployment
UL Certification
Liquid Fuel Operation
2026 MILESTONES
HYLIION® 2026 | Proprietary
10
3-YEAR OUTLOOK
YEAR
OBJECTIVES
2026
Complete Early Deployments & Commercialize 200kW KARNO System
Printer Speed Enhancements
Secure Additional Military R&D Services Contracts
Deliver 800kW Multi-KARNO System for U. S. Navy
2027
Ramp up Commercial Deliveries
Larger Multi-MW KARNO Power Module Field Trials
Begin to Further Scale Production Capacity
2028
Commercial Growth with Accelerating Deliveries
Capital Buildout of Printer Fleet
Begin Multi-MW KARNO Deliveries
2026 Q1 FINANCIAL RESULTS
Cost of Sales
(2.6)
(0.5)
Gross Margin $0.2 $0.0
R&D Service Revenue $2.8 $0.5
FINANCIAL RESULTS
1st Quarter
($M) 2026 2025
Research & Development
(7.7)
(12.2)
SG&A
(6.2)
(6.1)
PT Exit and Termination
0.4
(1.4)
Total Expenses
($13.4)
($19.7)
Interest Income
1.5
2.5
Net Loss
($11.7)
($17.3)
Expenses
Q1 Highlights
Significant revenue growth from R&D Services for the U.S. Navy
Gross Margin of $0.2 million
Lower R&D expense:
Shift to revenue generating services
Reduced spending on R&D activities
Capitalized $1.9 million of work-in-process inventory
Higher SG&A driven by higher labor costs
HYLIION® 2026 | Proprietary
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Net loss down 32% from Q1 2025
2026 Q1 RESULTS AND OUTLOOK
2026 Q1 RESULTS
Cash use of $13.0 million in Q1
Capital spending of $1.9 million for printers and
CASH USE
2025
2026
facility upgrades
Ended Q1 with $139.3 million of cash and short and long-term investments
2026 OUTLOOk
Approximately $10 million of revenue
Expenses approximately flat
Capital expenditures of approximately $10 million,
$67.4 Million
$24
$43
Est $50 Million
(Plus $10M of Leased Equip)
$10
Lease Financed
$50
offset by $10 million of equipment financing
Total cash use of approximately $50 million
KARNO Capex
KARNO spending includes interest income
KARNO figures include asset sales from Powertrain
HYLIION® 2026 | Proprietary 12
CLOSING REMARKS
Completed UL Certification Non-Recurring Testing
Deliver Remaining Early Adopter Units
Secure $40-50 Million of Additional Military Contracts
Demonstrated Multi-Fuel Flexibility & Progressing to Full 200 kW Power
Commenced the Build of the First 800 kW Navy System
HYLIION® 2026 | Proprietary 13
Disclaimer
Hyliion Holdings Corporation published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 20:44 UTC.