Hyliion Holdings Corporation Financials
Hyliion Holdings Corporation (HYLN) reported $3.5M in revenue for fiscal year 2025, up 130.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Hyliion’s balance-sheet-funded development is still defined by expenses falling faster than commercialization.
From FY2023 to FY2025, operating cash use fell from-$117.0M to-$46.5M . Yet FY2025 revenue was only$3.5M and gross profit just$170K , so the narrower losses came mainly from cost-base reduction rather than demonstrated commercial scale.
The clearest operating shift is in spending discipline: combined R&D and SG&A fell from
Year-end cash of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hyliion Holdings Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hyliion Holdings Corporation scores 27.28, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($562.6M) relative to total liabilities ($11.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Hyliion Holdings Corporation passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Hyliion Holdings Corporation reported a net loss of $57.2M while operations used $46.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Hyliion Holdings Corporation generated $3.5M in revenue in fiscal year 2025. This represents an increase of 130.3% from the prior year.
Hyliion Holdings Corporation's EBITDA was -$59.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.5% from the prior year.
Hyliion Holdings Corporation reported -$57.2M in net income in fiscal year 2025. This represents a decrease of 9.9% from the prior year.
Hyliion Holdings Corporation earned -$0.33 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 10.0% from the prior year.
Cash & Balance Sheet
Hyliion Holdings Corporation recorded an outflow of $70.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 4.1% from the prior year.
Hyliion Holdings Corporation held $22.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Hyliion Holdings Corporation's gross margin was 4.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.3 percentage points from the prior year.
Hyliion Holdings Corporation's ROE was -29.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.5 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Hyliion Holdings Corporation invested $42.5M in research and development in fiscal year 2025. This represents an increase of 14.8% from the prior year.
Hyliion Holdings Corporation repurchased no shares in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Hyliion Holdings Corporation invested $23.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 43.7% from the prior year.
HYLN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.2M | $3.5M+130.3% | $1.5M+124.6% | $672K-68.1% | $2.1M+953.0% | $200K | $0 | $0 |
| Cost of Revenue | $8.6M | $3.3M+133.6% | $1.4M-17.5% | $1.7M-80.5% | $8.8M+220.7% | $2.7M | $0 | $0 |
| Gross Profit | $603K | $170K+80.9% | $94K+109.0% | -$1.0M+84.4% | -$6.7M-163.0% | -$2.5M | $0 | $0 |
| R&D Expenses | $37.3M | $42.5M+14.8% | $37.0M-55.0% | $82.2M-25.5% | $110.4M+89.4% | $58.3M+362.5% | $12.6M+35.9% | $9.3M |
| SG&A Expenses | $23.3M | $22.8M-6.7% | $24.4M-42.8% | $42.6M+1.5% | $42.0M+18.9% | $35.3M+268.3% | $9.6M | N/A |
| Operating Income | -$58.7M | -$65.6M-2.0% | -$64.3M+53.2% | -$137.4M+13.6% | -$159.0M-65.5% | -$96.1M-333.2% | -$22.2M-84.9% | -$12.0M |
| Interest Expense | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $5.5M+67.6% | $3.3M |
| Income Tax | N/A | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$52.2M | -$57.2M-9.9% | -$52.0M+57.9% | -$123.5M+19.5% | -$153.4M-59.7% | -$96.0M-129.6% | $324.1M+2396.6% | -$14.1M |
| EPS (Diluted) | — | -$0.33-10.0% | -$0.30+55.9% | -$0.68+21.8% | -$0.87-55.4% | -$0.56-60.0% | -$0.35 | -$0.16 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HYLN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $203.6M-22.6% | $263.0M-19.9% | $328.4M-26.5% | $446.7M-22.8% | $578.4M-11.7% | $655.1M+4547.3% | $14.1M |
| Current Assets | $98.6M-24.7% | $131.0M-27.9% | $181.7M-44.0% | $324.2M-16.1% | $386.5M-36.9% | $612.4M+8847.5% | $6.8M |
| Cash & Equivalents | $22.9M+148.6% | $9.2M-28.4% | $12.9M-89.2% | $119.5M-53.8% | $258.4M-33.7% | $389.7M+6100.6% | $6.3M |
| Inventory | $0 | N/A | $0-100.0% | $74K-35.1% | $114K-13.6% | $132K | N/A |
| Accounts Receivable | $489K-74.6% | $1.9M+4707.5% | $40K-96.5% | $1.1M+1522.9% | $70K-23.9% | $92K-36.6% | $145K |
| Total Liabilities | $11.6M-38.1% | $18.7M-15.6% | $22.1M-4.5% | $23.2M-5.5% | $24.5M+64.4% | $14.9M-53.6% | $32.2M |
| Current Liabilities | $9.9M-31.0% | $14.3M-5.5% | $15.1M+3.0% | $14.7M-3.6% | $15.2M+73.9% | $8.8M-29.1% | $12.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $908K-90.6% | $9.7M |
| Total Equity | $192.0M-21.4% | $244.4M-20.2% | $306.3M-27.7% | $423.6M-23.5% | $553.9M-13.5% | $640.2M+3642.9% | -$18.1M |
| Retained Earnings | -$207.0M-38.2% | -$149.8M-53.2% | -$97.8M-479.7% | $25.7M-85.6% | $179.1M-34.9% | $275.2M+661.9% | -$49.0M |
Not reported in any period shown, so not listed: Goodwill.
HYLN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$42.4M | -$46.5M+18.0% | -$56.7M+51.5% | -$117.0M-0.1% | -$116.9M-45.2% | -$80.5M-250.9% | -$22.9M-107.2% | -$11.1M |
| Capital Expenditures | $14.3M | $23.7M+43.7% | $16.5M+123.3% | $7.4M+156.5% | $2.9M+21.2% | $2.4M+665.3% | $311K-10.9% | $349K |
| Free Cash Flow | -$56.6M | -$70.3M+4.1% | -$73.3M+41.1% | -$124.4M-3.8% | -$119.8M-44.5% | -$82.9M-256.4% | -$23.3M-103.6% | -$11.4M |
| Investing Cash Flow | $40.1M | $60.9M+2.4% | $59.5M+225.0% | $18.3M+183.1% | -$22.0M+66.6% | -$66.0M+72.3% | -$238.1M-68135.0% | -$349K |
| Financing Cash Flow | -$137K | -$670K+95.3% | -$14.3M-95413.3% | -$15K+80.8% | -$78K-100.5% | $15.9M-97.5% | $644.5M+3780.5% | $16.6M |
| Share Buybacks | N/A | $0-100.0% | $14.0M+42269.7% | $33K | $0 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HYLN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 4.9%-1.3pp | 6.2% | -155.4% | -316.8% | -1268.5% | N/A | N/A |
| Operating Margin | -1886.4% | -4261.0% | -20441.8% | -7551.3% | -48048.5% | N/A | N/A |
| Net Margin | -1645.7% | -3449.2% | -18379.5% | -7281.9% | -48024.0% | N/A | N/A |
| Return on Equity | -29.8%-8.5pp | -21.3%+19.0pp | -40.3%-4.1pp | -36.2%-18.9pp | -17.3%-68.0pp | 50.6% | N/A |
| Return on Assets | -28.1%-8.3pp | -19.8%+17.8pp | -37.6%-3.3pp | -34.3%-17.7pp | -16.6%-66.1pp | 49.5%+149.6pp | -100.1% |
| Current Ratio | 10.00+0.8x | 9.17-2.8x | 12.02-10.1x | 22.08-3.3x | 25.37-44.5x | 69.89+69.3x | 0.55 |
| Debt-to-Equity | 0.060.0x | 0.080.0x | 0.070.0x | 0.05+0.1x | 0.000.0x | 0.00 | N/A |
| FCF Margin | -2022.7% | -4855.1% | -18506.4% | -5686.7% | -41441.0% | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Hyliion Holdings Corporation Ranks
Frequently Asked Questions
What is Hyliion Holdings Corporation's annual revenue?
Hyliion Holdings Corporation (HYLN) reported $3.5M in total revenue for fiscal year 2025. This represents a 130.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hyliion Holdings Corporation's revenue growing?
Hyliion Holdings Corporation (HYLN) revenue grew by 130.3% year-over-year, from $1.5M to $3.5M in fiscal year 2025.
Is Hyliion Holdings Corporation profitable?
No, Hyliion Holdings Corporation (HYLN) reported a net income of -$57.2M in fiscal year 2025.
What is Hyliion Holdings Corporation's EBITDA?
Hyliion Holdings Corporation (HYLN) had EBITDA of -$59.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Hyliion Holdings Corporation's gross margin?
Hyliion Holdings Corporation (HYLN) had a gross margin of 4.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hyliion Holdings Corporation's return on equity (ROE)?
Hyliion Holdings Corporation (HYLN) has a return on equity of -29.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hyliion Holdings Corporation's free cash flow?
Hyliion Holdings Corporation (HYLN) recorded an outflow of $70.3M in free cash flow during fiscal year 2025. This represents a 4.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hyliion Holdings Corporation's operating cash flow?
Hyliion Holdings Corporation (HYLN) recorded an outflow of $46.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Hyliion Holdings Corporation's total assets?
Hyliion Holdings Corporation (HYLN) had $203.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hyliion Holdings Corporation's capital expenditures?
Hyliion Holdings Corporation (HYLN) invested $23.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Hyliion Holdings Corporation spend on research and development?
Hyliion Holdings Corporation (HYLN) invested $42.5M in research and development during fiscal year 2025.
What is Hyliion Holdings Corporation's current ratio?
Hyliion Holdings Corporation (HYLN) had a current ratio of 10.00 as of fiscal year 2025, which is generally considered healthy.
What is Hyliion Holdings Corporation's debt-to-equity ratio?
Hyliion Holdings Corporation (HYLN) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hyliion Holdings Corporation's return on assets (ROA)?
Hyliion Holdings Corporation (HYLN) had a return on assets of -28.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hyliion Holdings Corporation's cash runway?
Based on fiscal year 2025 data, Hyliion Holdings Corporation (HYLN) had $22.9M in cash against an annual operating cash burn of $46.5M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Hyliion Holdings Corporation's Altman Z-Score?
Hyliion Holdings Corporation (HYLN) has an Altman Z-Score of 27.28, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Hyliion Holdings Corporation's Piotroski F-Score?
Hyliion Holdings Corporation (HYLN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hyliion Holdings Corporation's earnings high quality?
Hyliion Holdings Corporation (HYLN) reported a net loss of $57.2M while operations used $46.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Hyliion Holdings Corporation?
Hyliion Holdings Corporation (HYLN) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.