Hyliion Holdings Corp. · AMEX:HYLN
Hyliion — Q4 2025 Earnings Presentation
14 slides from Hyliion's earnings presentation, Feb 25, 2026
Slide 1: 4Q25 and Full Year Earnings Call
4q25 AND full year Earnings call February 25, 2026
Slide 2: Disclaimer
DISCLAIMER The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact i
Slide 3: KARNO Product Development
KARNO PRODUCT DEVELOPMENT TM Power System & UL Certification Performance Completed linear electric motor and Achieved 175kW of generation with latest battery certification testing, full Power advancements, plan to achieve full Module expected in Q2 200kW design rating in 2026 HYLIION® 2026 | Propri
Slide 4: Diesel Fuel Operation
DIESEL FUEL OPERATION HYLIION® 2026 | Proprietary 4
Slide 5: 2026 Outlook
2026 OUTLOOK Nearly 500 KARNO Cores Under Non-Binding LOIs, Focusing on Data Center, Military and Prime Power Applications Deploy Remaining Early Adopter Units in Preparation for Commercialization in Late 2026 Data Center 800V Architecture Integration Anticipating $40-50 Million in Additional Milita
Slide 6: Multi-Megawatt KARNO System
MULTI – MEGAWATT KARNO SYSTEM KARNO 800kW Platform KARNO 3.2MW Modular onsite power generation solution that scales with site needs Image for illustrative purposes only. Actual production design is subject to change. HYLIION® 2026 | Proprietary 6
Slide 7: ABM Industries
ABM INDUSTRIES Strategic partnership targeting commercial & industrial, mission- critical and E-mobility Full end-to-end turnkey energy solutions HYLIION® 2026 | Proprietary 7
Slide 8: Print Capacity & Manufacturing Readiness
PRINT CAPACITY & MANUFACTURING READINESS HYLIION® 2026 | Proprietary 8
Slide 9: 2026 Milestones
2026 MILESTONES Liquid Fuel Operation UL Certification Initial Customer Site Deployment Multi-KARNO Power Module Operation Complete 800kW US Navy Multi-KARNO System Printer Speed Enhancements New R&D Contract with U.S. Military Complete Remaining Early Adopter Deployments Commercialization of 200kW
Slide 10: 3-Year Outlook
3-YEAR OUTLOOK year objectives • Complete early deployments & commercialize 200kW KARNO system • Printer speed enhancements 2026 • Secure additional Military R&D services contracts • Deliver 800kW multi-KARNO system for U. S. Navy • Ramp up commercial deliveries 2027 • Larger multi-MW KARNO Power Mo
Slide 11: Key Takeaways
KEY TAKEAWAYS • Advancing the KARNO Power Module from development toward deployment • Focused on delivering early adopter customer units • UL Certification nearing completion • Commercialization in 2026 HYLIION® 2026 | Proprietary 11
Slide 12: 2025 Q4 and Full Year Results
2025 Q4 AND FULL YEAR RESULTS FINANCIAL RESULTS 4th Quarter Year-to-Date Q4 Highlights • Revenue from R&D Services for U.S. Navy ($M) 2025 2024 2025 2024 • Gross Margin of $0.1 million R&D Service Revenue $0.7 $1.5 $3.5 $1.5 • Lower R&D expense due to reduced KARNO generator Cost of Sales (0.6) 1.4
Slide 13: 2025 Results and 2026 Outlook
2025 RESULTS AND 2026 OUTLOOK 2025 results • Cash use of $12.4 million in Q4 and $67.4 million Cash use for the full year 2025 2026 • 2025 capital spending of $23.7 million for printers, $67.4 Million Est $50 Million facility upgrades, and machining equipment (Plus $10M of Leased Equip) • Ended 2025
Slide 14: Q&A
Q&A