HYLN - Hyliion stock surges after firm posts first revenue

Hyliion Holdings (HYLN +10.7%) stock is up after the Texas electrified powertrain solutions company reported its Q4 revenues of $200K (consensus: $988.33K); its first revenue as a public entity. Its GAAP EPS of -$0.17 beat estimates by $0.10. Hyliion began recognizing revenue on its Hybrid eX powertrain solution during the quarter, and recieving bookings for multiple fleets totaling 100 units backed by deposits to secure Hypertruck ERX production slots. Hyliion also booked orders for an additional 325 units of the Hypertruck ERX. The company is on track to complete design verification and initial controlled fleet trials by end-2022, followed by continuation of fleet trials and final regulatory approvals. It expects to commence production by late 2023. Hyliion delivered its initial Hybrid eX powertrain systems in Q4, but continues to face global shortages of various components, leading to longer delivery times, with some Hyliion deliveries to be delayed into Q122. The

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Hyliion stock surges after firm posts first revenue