Why Hyliion Holdings Stock Is Sinking Today

• Hyliion reported third-quarter results connected Tuesday aft marketplace close.

• The institution chopped its full-year gross guidance, saying that it present doesn't expect to admit product-related gross until 2026.

• It's aiming to bring its multifuel electrical generator to marketplace adjacent year.

• 10 stocks we similar amended than Hyliion ›

Shares of power-generation start-up Hyliion Holdings (NYSEMKT: HYLN) were trading sharply little connected Wednesday aft the institution chopped its guidance for full-year revenue. As of 11:30 a.m. ET today, Hyliion's shares were down astir 13.5% from Tuesday's closing price.

Originally founded to physique hybrid-electric systems for dense trucks, Hyliion is present moving to bring a multifuel electrical generator to market.

The generator, called Karno, uses what is called a "flameless oxidation" system. Hyliion says the instrumentality tin make energy from a wide scope of fuels -- earthy gas, hydrogen, assorted petroleum derivatives, and adjacent ammonia -- with minimal emissions.

During its net presumption connected Tuesday, absorption said that its archetypal Karno powerfulness module has met cardinal benchmarks successful investigating with archetypal customers and is connected way for a wider marketplace motorboat successful 2026.

Hyliion generated astir $760,000 successful revenue successful the 3rd quarter, each of it from an ongoing declaration with the U.S. Navy, which is utilizing Karno modules to powerfulness an autonomous naval vas presently nether development.

For the afloat year, the institution present expects gross of astir $4 million, each from the Navy contract. That's down from past quarter's guidance, which projected full-year gross betwixt $5 cardinal and $10 million. The alteration is apt wherefore the banal is down today.

Hyliion present expects to statesman recognizing Karno-related gross sometime adjacent year. It said that it had $164.7 cardinal successful currency astatine quarter-end, capable to money operations done the commercialized motorboat of Karno.

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