Here are the 10-K annual reports from Hyliion Holdings Corp. (HYLN) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow HYLN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HYLN filings page.
Hyliion Holdings Corp. outlines its transition to the fuel-agnostic KARNO Power Module for distributed power generation, targeting data centers, industrial users, defense, EV charging and waste-gas applications. The 200 kW modular system aims for about 45% electrical efficiency with ultra-low emissions and reduced maintenance.
The company is still pre-revenue from product sales and currently depends on U.S. Navy Office of Naval Research contracts of up to $16 million plus $1.5 million for R&D services. Hyliion reported net losses of $57.2 million in 2025 and $52.0 million in 2024 and warns that commercialization of the KARNO generator may be delayed beyond late 2026 or may not occur.
As of June 30, 2025, non-affiliate equity market value was about $183 million, and 177,812,784 common shares were outstanding as of February 19, 2026. The company holds a sizeable patent portfolio around KARNO technology, relies on additive manufacturing capacity from GE-affiliated printers, and highlights risks from supplier concentration, government funding dependence, manufacturing scale-up, cybersecurity, and strong competition in distributed generation and R&D services.