HYZN - Hyzon Motors slumps in early trade on widening net loss amid lower than expected revenue

Hyzon Motors (NASDAQ:HYZN) reported 87 in Hyzon Q4 fuel cell electric vehicles delivered, which exceeded its vehicle delivery guidance of 85 vehicles provided in August 2021; total contract value for these deliveries was $19.6M which includes $13.6M in contract value to be collected over 5 years. For Q4, the company revenue stood at $5.1M, total operating expenses of $43.8M and net loss attributable to Hyzon of $28.6M, resulting in basic and diluted loss per share of $0.12 compared to net loss of $13.4M leading to loss per share of $0.08. Revenue came in lower than expected due to geographic and product mix shift to Asia. R&D expenses saw a significant increase to $7.5M from $1.3M in prior year quarter while SG&A also rose to $16M from $13.4M. The company reported increased backlog to $287M, an increase of 246% from July 2021 levels; backlog as of Mar. 22, 2022 includes $224M non-binding MoUs and $63M

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Hyzon Motors slumps in early trade on widening net loss amid lower than expected revenue