Hyliion Holdings Corp(NYSE:HYLN) 
Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial transportation industry. It also provides battery management systems for hybrid and fully electric vehicle applications. The company was founded in 2015 and is headquartered in Cedar Park, Texas.
Website: http://www.hyliion.com
Founded: 2015
CEO: Thomas J. Healy
Sector: Consumer Cyclical
Industry: Auto Parts
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | |||||||||||||||||||||||||||||
research and development services | 2,832,000 | 712,000 | 759,000 | 1,515,000 | 489,000 | ||||||||||||||||||||||||
total revenues | 2,832,000 | 712,000 | 759,000 | 1,515,000 | 489,000 | 96,000 | 266,000 | 310,000 | 1,095,000 | 499,000 | 172,000 | 340,000 | |||||||||||||||||
yoy | 479.14% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | -80.76% | 54.65% | -8.82% | |||||||||||||||||||
qoq | 297.75% | -6.19% | -49.90% | 209.82% | NaN% | NaN% | -63.91% | -14.19% | -71.69% | 119.44% | 190.12% | -49.41% | |||||||||||||||||
cost of revenues | |||||||||||||||||||||||||||||
total cost of revenues | 2,622,000 | 638,000 | 806,000 | 1,384,000 | 477,000 | 41,000 | 677,000 | 307,000 | 691,000 | 1,618,000 | 2,916,000 | 2,145,000 | 2,099,000 | ||||||||||||||||
gross profit | 210,000 | 74,000 | -47,000 | 131,000 | 12,000 | ||||||||||||||||||||||||
yoy | 1650.00% | ||||||||||||||||||||||||||||
qoq | 183.78% | -257.45% | -135.88% | 991.67% | |||||||||||||||||||||||||
gross margin % | 7.42% | 10.39% | -6.19% | 8.65% | 2.45% | NaN% | NaN% | NaN% | NaN% | NaN% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
operating expenses | |||||||||||||||||||||||||||||
research and development | 7,670,000 | 9,964,000 | 10,136,000 | 10,137,000 | 12,230,000 | 11,263,000 | 9,462,000 | 8,311,000 | 7,968,000 | 8,768,000 | 25,115,000 | 27,439,000 | 20,918,000 | 198,913,000 | -52,678,000 | -20,057,000 | -15,808,000 | -17,390,000 | -18,150,000 | -13,389,000 | -9,332,000 | ||||||||
selling, general and administrative | 6,181,000 | 5,529,000 | 5,184,000 | 5,963,000 | 6,081,000 | 5,880,000 | 5,648,000 | 6,262,000 | 6,592,000 | 12,346,000 | 8,186,000 | 11,098,000 | 10,981,000 | -8,063,750 | -10,264,000 | -12,167,000 | -9,824,000 | -6,527,750 | -8,660,000 | -10,052,000 | -7,399,000 | ||||||||
exit and termination (benefits) costs | -414,000 | 251,750 | -70,000 | ||||||||||||||||||||||||||
total operating expenses | 13,437,000 | 14,985,000 | 15,250,000 | 15,754,000 | 19,734,000 | 17,204,000 | 14,181,000 | 14,017,000 | 18,991,000 | 32,588,000 | 33,301,000 | 38,537,000 | 31,899,000 | 273,156,000 | -62,942,000 | -32,224,000 | -25,632,000 | ||||||||||||
income from operations | -13,227,000 | -14,911,000 | -15,297,000 | -15,623,000 | -19,722,000 | -17,110,000 | -14,181,000 | -14,017,000 | -18,991,000 | -32,629,000 | -33,882,000 | -38,578,000 | -32,280,000 | -32,083,000 | -65,359,000 | -34,197,000 | -27,391,000 | -29,115,000 | -26,810,000 | -23,441,000 | -16,731,000 | -16,710,034 | -2,786,764 | -2,353,986 | -332,216 | -201,284 | -204,082 | -233,340 | -126,076 |
yoy | -32.93% | -12.85% | 7.87% | 11.46% | 3.85% | -47.56% | -58.15% | -63.67% | -41.17% | 1.70% | -48.16% | 12.81% | 17.85% | 10.19% | 143.79% | 45.89% | 63.71% | 74.24% | 862.05% | 895.80% | 4936.18% | 8201.72% | 1265.51% | 908.82% | 163.50% | ||||
qoq | -11.29% | -2.52% | -2.09% | -20.78% | 15.27% | 20.65% | 1.17% | -26.19% | -41.80% | -3.70% | -12.17% | 19.51% | 0.61% | -50.91% | 91.12% | 24.85% | -5.92% | 8.60% | 14.37% | 40.11% | 0.13% | 499.62% | 18.38% | 608.57% | 65.05% | -1.37% | -12.54% | 85.08% | |
operating margin % | -467.06% | -2094.24% | -2015.42% | -1031.22% | -4033.13% | -Infinity% | NaN% | NaN% | NaN% | -Infinity% | -35293.75% | -14503.01% | -10412.90% | -2929.95% | -13098.00% | -19881.98% | -8056.18% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
interest income | 1,490,000 | 1,714,000 | 1,960,000 | 2,209,000 | 2,468,000 | 2,712,000 | 2,979,000 | 3,129,000 | 3,396,000 | 3,463,000 | 3,534,000 | 3,349,000 | 3,462,000 | 2,658,000 | 1,926,000 | 855,000 | 285,000 | 218,000 | 195,000 | 197,000 | 169,000 | ||||||||
net income | -11,737,000 | -13,183,000 | -13,337,000 | -13,414,000 | -17,254,000 | -14,398,000 | -11,202,000 | -10,856,000 | -15,592,000 | -29,130,000 | -30,322,000 | -35,227,000 | -28,831,000 | -29,387,000 | -63,387,000 | -33,475,000 | -27,108,000 | -29,627,000 | -26,615,000 | -23,244,000 | -16,562,000 | -34,432,991 | -2,770,010 | -2,257,132 | 278,133 | 582,820 | 739,729 | 808,915 | 192,924 |
yoy | -31.98% | -8.44% | 19.06% | 23.56% | 10.66% | -50.57% | -63.06% | -69.18% | -45.92% | -0.87% | -52.16% | 5.23% | 6.36% | -0.81% | 138.16% | 44.02% | 63.68% | -13.96% | 860.83% | 929.80% | -6054.71% | -6008.00% | -474.46% | -379.03% | 44.17% | ||||
qoq | -10.97% | -1.15% | -0.57% | -22.26% | 19.84% | 28.53% | 3.19% | -30.37% | -46.47% | -3.93% | -13.92% | 22.18% | -1.89% | -53.64% | 89.36% | 23.49% | -8.50% | 11.32% | 14.50% | 40.35% | -51.90% | 1143.06% | 22.72% | -911.53% | -52.28% | -21.21% | -8.55% | 319.29% | |
net income margin % | -414.44% | -1851.54% | -1757.18% | -885.41% | -3528.43% | -Infinity% | NaN% | NaN% | NaN% | -Infinity% | -31585.42% | -13243.23% | -9300.32% | -2683.74% | -12702.81% | -19462.21% | -7972.94% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
net income per share | -0.07 | -0.08 | -0.08 | -0.08 | -0.1 | -0.09 | -0.06 | -0.06 | -0.09 | -0.16 | -0.17 | -0.19 | -0.16 | -0.16 | -0.36 | -0.19 | -0.16 | -0.17 | -0.15 | -0.13 | -0.1 | ||||||||
weighted-average shares outstanding, basic and diluted | 177,668,678 | 175,426,635 | 175,652,193 | 175,308,965 | 174,344,218 | 174,915,487 | 173,612,768 | 173,829,107 | 178,482,894 | 181,411,069 | 181,641,060 | 180,966,908 | 180,118,044 | 174,345,022 | 173,897,517 | 173,584,573 | 172,987,672,000 | 172,260,525,000 | 170,249,708,000 | 104,324,059 | |||||||||
gain on disposal of assets | 3,000 | 250 | -1,000 | 2,000 | -22,250 | 46,000 | |||||||||||||||||||||||
other income | 32,000 | 36,000 | 26,000 | 3,000 | |||||||||||||||||||||||||
exit and termination costs | -346,000 | 1,423,000 | 61,000 | -929,000 | -556,000 | 4,431,000 | |||||||||||||||||||||||
product sales and other | 96,000 | 266,000 | 310,000 | 1,095,000 | 499,000 | 172,000 | 340,000 | ||||||||||||||||||||||
gross loss | -41,000 | -581,000 | -41,000 | -381,000 | -523,000 | -2,417,000 | -1,973,000 | -1,759,000 | |||||||||||||||||||||
other expense | -15,000 | ||||||||||||||||||||||||||||
loss on disposal of assets | -133,000 | -2,000 | |||||||||||||||||||||||||||
operating expenses: | |||||||||||||||||||||||||||||
other income: | |||||||||||||||||||||||||||||
interest expense | |||||||||||||||||||||||||||||
change in fair value of convertible notes payable derivative liabilities | |||||||||||||||||||||||||||||
total other income | 140,250 | 195,000 | 197,000 | 169,000 | |||||||||||||||||||||||||
general and administrative expenses | 1,308,241.5 | 2,706,764 | 2,273,986 | 252,216 | 121,284 | 124,082 | 153,340 | 66,076 | |||||||||||||||||||||
administrative expenses - related party | 22,500 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 10,000 | |||||||||||||||||||||
franchise tax expense | 37,500 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||
investment income from investments held in trust account | 221,589 | 16,754 | 110,300 | 759,302 | 979,245 | 1,181,406 | 1,306,019 | 390,506 | |||||||||||||||||||||
income before income tax expense | -1,146,652.5 | -2,770,010 | -2,243,686 | 427,086 | 777,961 | 977,324 | 1,072,679 | 264,430 | |||||||||||||||||||||
income tax expense | 40,599.75 | 13,446 | 148,953 | 195,141 | 237,595 | 263,764 | 71,506 | ||||||||||||||||||||||
weighted-average shares outstanding of class a common stock | 23,300,917 | 23,300,917 | 23,300,917 | 23,300,917 | 23,300,917 | 23,300,917 | 23,300,917 | ||||||||||||||||||||||
basic and diluted net income per share, class a common stock | 0.005 | ||||||||||||||||||||||||||||
weighted-average shares outstanding of class b common stock | 5,825,230 | 5,825,230 | 5,825,230 | 5,825,230 | 5,825,230 | 5,825,230 | 5,825,230 | ||||||||||||||||||||||
basic and diluted net (loss) per share, class b common stock | -0.228 | -0.48 | |||||||||||||||||||||||||||
basic and diluted net income per share, class a | 0.02 | 0.03 | 0.04 | 0.03 | 0.01 | ||||||||||||||||||||||||
basic and diluted net income per share, class b | -0.4 | -0.05 | -0.03 | -0.03 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||
current assets | |||||||||||||||||||||||||||
cash and cash equivalents | 20,262,000 | 22,938,000 | 17,878,000 | 15,591,000 | 12,332,000 | 9,227,000 | 28,065,000 | 19,133,000 | 14,715,000 | 12,881,000 | 28,600,000 | 48,205,000 | 85,206,000 | 119,468,000 | 154,161,000 | 199,933,000 | 227,107,000 | 258,445,000 | 289,486,000 | 317,712,000 | 334,718,000 | 389,705,000 | |||||
accounts receivable | 3,026,000 | 489,000 | 726,000 | 1,192,000 | 1,987,000 | 1,923,000 | 1,257,000 | 373,000 | 122,000 | 40,000 | 140,000 | 804,000 | 837,000 | 1,136,000 | 894,000 | 114,000 | 765,000 | 70,000 | 359,000 | 92,000 | 80,000 | 92,000 | |||||
inventory | 1,919,000 | 139,000 | 892,000 | 869,000 | 74,000 | 140,000 | 176,000 | 186,000 | 114,000 | ||||||||||||||||||
prepaid expenses and other current assets | 4,031,000 | 4,597,000 | 4,238,000 | 4,784,000 | 4,869,000 | 6,401,000 | 5,678,000 | 5,449,000 | 6,559,000 | 18,483,000 | 11,509,000 | 15,853,000 | 15,282,000 | 9,795,000 | 5,876,000 | 8,364,000 | 8,865,000 | 9,068,000 | 5,516,000 | 3,777,000 | 3,616,000 | 16,408,000 | |||||
short-term investments | 52,208,000 | 69,427,000 | 87,121,000 | 92,964,000 | 108,781,000 | 110,918,000 | 122,897,000 | 136,091,000 | 126,703,000 | 150,297,000 | 153,625,000 | 183,440,000 | 196,768,000 | 193,740,000 | 232,917,000 | 188,868,000 | 134,160,000 | 118,787,000 | 144,465,000 | 139,984,000 | 144,829,000 | 201,881,000 | |||||
assets held for sale | 1,181,000 | 2,563,000 | 3,463,000 | 3,573,000 | 5,973,000 | ||||||||||||||||||||||
total current assets | 81,446,000 | 98,632,000 | 109,963,000 | 114,531,000 | 127,969,000 | 131,032,000 | 161,360,000 | 164,619,000 | 154,072,000 | 181,701,000 | 194,013,000 | 249,194,000 | 298,962,000 | 324,213,000 | 393,988,000 | 397,455,000 | 371,083,000 | 386,484,000 | 439,826,000 | 461,565,000 | 483,243,000 | 608,086,000 | 117,193,028 | 355,249 | 923,849 | 1,094,628 | 1,244,663 |
property and equipment | 38,494,000 | 40,461,000 | 41,604,000 | 32,563,000 | 29,446,000 | 25,920,000 | 17,428,000 | 15,781,000 | 12,701,000 | 9,987,000 | 11,076,000 | 8,942,000 | 8,303,000 | 5,606,000 | 5,772,000 | 2,220,000 | 2,478,000 | 2,235,000 | 2,820,000 | 2,039,000 | 1,350,000 | 1,171,000 | |||||
operating lease right-of-use assets | 2,963,000 | 3,468,000 | 3,959,000 | 4,439,000 | 4,906,000 | 5,431,000 | 5,779,000 | 6,221,000 | 6,992,000 | 7,070,000 | 7,494,000 | 7,908,000 | 6,168,000 | 6,470,000 | 6,792,000 | 7,101,000 | 7,411,000 | 7,734,000 | 8,474,000 | 8,676,000 | 4,833,000 | 5,055,000 | |||||
other assets | 990,000 | 1,004,000 | 964,000 | 932,000 | 985,000 | 1,079,000 | 1,173,000 | 1,266,000 | 1,360,000 | 1,439,000 | 2,038,000 | 1,946,000 | 1,674,000 | 1,686,000 | 1,730,000 | 1,743,000 | 1,682,000 | 1,535,000 | 920,000 | 250,000 | 193,000 | 193,000 | |||||
long-term investments | 66,858,000 | 59,994,000 | 59,743,000 | 76,745,000 | 77,670,000 | 99,584,000 | 86,545,000 | 93,476,000 | 122,529,000 | 128,186,000 | 141,324,000 | 122,694,000 | 103,433,000 | 108,568,000 | 68,422,000 | 111,299,000 | 165,958,000 | 180,217,000 | 154,981,000 | 159,683,000 | 152,481,000 | 35,970,000 | |||||
total assets | 190,751,000 | 203,559,000 | 216,233,000 | 229,210,000 | 240,976,000 | 263,046,000 | 272,285,000 | 281,363,000 | 297,654,000 | 328,383,000 | 356,145,000 | 390,921,000 | 418,762,000 | 446,743,000 | 476,899,000 | 520,004,000 | 548,823,000 | 578,440,000 | 607,280,000 | 632,496,000 | 642,408,000 | 650,807,000 | 353,676,680 | 236,999,147 | 237,537,447 | 237,148,974 | 236,519,764 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||||||
accounts payable | 901,000 | 3,142,000 | 2,052,000 | 2,689,000 | 1,503,000 | 5,243,000 | 1,654,000 | 1,043,000 | 2,119,000 | 4,224,000 | 3,507,000 | 2,087,000 | 3,028,000 | 2,800,000 | 2,279,000 | 2,705,000 | 3,258,000 | 7,455,000 | 7,527,000 | 8,098,000 | 2,022,000 | 1,890,000 | 3,726,512 | 1,898,863 | 163,477 | 8,097 | 11,707 |
current portion of operating lease liabilities | 2,804,000 | 2,726,000 | 2,644,000 | 2,570,000 | 2,497,000 | 2,426,000 | 1,531,000 | 985,000 | 1,436,000 | 847,000 | 807,000 | 768,000 | 454,000 | 347,000 | 325,000 | 273,000 | 190,000 | 21,000 | 827,000 | 722,000 | 790,000 | 734,000 | |||||
accrued expenses and other current liabilities | 4,369,000 | 3,995,000 | 5,287,000 | 5,000,000 | 5,238,000 | 6,622,000 | 5,975,000 | 5,485,000 | 6,948,000 | 10,051,000 | 8,867,000 | 15,581,000 | 10,567,000 | 11,535,000 | 14,168,000 | 11,177,000 | 7,860,000 | 7,759,000 | 7,623,000 | 6,131,000 | 5,073,000 | 1,982,000 | |||||
total current liabilities | 8,074,000 | 9,863,000 | 9,983,000 | 10,259,000 | 9,238,000 | 14,291,000 | 9,160,000 | 7,513,000 | 10,503,000 | 15,122,000 | 13,181,000 | 18,436,000 | 14,049,000 | 14,682,000 | 16,772,000 | 14,155,000 | 11,308,000 | 15,235,000 | 15,977,000 | 14,951,000 | 7,885,000 | 4,655,000 | 121,484,812 | 2,037,269 | 318,437 | 208,097 | 161,707 |
operating lease liabilities, net of current portion | 912,000 | 1,646,000 | 2,353,000 | 3,040,000 | 3,710,000 | 4,366,000 | 4,997,000 | 5,610,000 | 6,207,000 | 6,792,000 | 7,354,000 | 7,899,000 | 6,525,000 | 6,972,000 | 7,399,000 | 7,814,000 | 8,222,000 | 8,623,000 | 8,749,000 | 8,971,000 | 4,838,000 | 5,076,000 | |||||
other liabilities | 41,000 | 41,000 | 41,000 | 41,000 | 41,000 | 400,000 | 400,000 | 534,000 | 203,000 | 1,248,000 | 1,441,000 | 1,581,000 | 1,515,000 | 1,492,000 | 1,295,000 | 1,015,000 | 667,000 | ||||||||||
total liabilities | 9,027,000 | 11,550,000 | 12,377,000 | 13,340,000 | 12,989,000 | 18,657,000 | 14,557,000 | 13,523,000 | 17,244,000 | 22,117,000 | 21,783,000 | 27,776,000 | 22,155,000 | 23,169,000 | 25,663,000 | 23,264,000 | 20,545,000 | 24,525,000 | 24,726,000 | 23,922,000 | 12,723,000 | 10,639,000 | 129,762,920 | 10,315,377 | 8,596,545 | 8,486,205 | 8,439,815 |
commitments and contingencies | |||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||
common stock, 0.0001 par value... | 19,000 | 19,000 | 19,000 | 19,000 | 19,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 18,000 | 17,000 | 17,000 | 17,000 | 20,000 | 20,000 | 19,000 | 17,000 | |||||
additional paid-in capital | 414,574,000 | 413,122,000 | 411,786,000 | 410,463,000 | 409,166,000 | 408,315,000 | 407,259,000 | 406,175,000 | 405,118,000 | 404,045,000 | 402,978,000 | 401,439,000 | 399,674,000 | 397,810,000 | 396,085,000 | 378,203,000 | 376,266,000 | 374,795,000 | 373,804,000 | 373,209,000 | 371,077,000 | 728,299,000 | 7,424,498 | 4,654,516 | 2,397,398 | 2,675,535 | 3,258,350 |
treasury stock | -14,132,000 | -14,132,000 | -14,132,000 | -14,132,000 | -14,132,000 | -14,132,000 | -14,135,000 | -14,141,000 | -11,370,000 | -33,000 | |||||||||||||||||
accumulated deficit | -218,737,000 | -207,000,000 | -193,817,000 | -180,480,000 | -167,066,000 | -149,812,000 | -135,414,000 | -124,212,000 | -113,356,000 | 258,589,000 | -88,148,000 | ||||||||||||||||
total stockholders’ equity | 181,724,000 | 192,009,000 | 203,856,000 | 215,870,000 | 227,987,000 | 244,389,000 | 257,728,000 | 267,840,000 | 280,410,000 | 306,266,000 | 334,362,000 | 363,145,000 | 396,607,000 | 423,574,000 | 451,236,000 | 496,740,000 | 528,278,000 | 553,915,000 | 582,554,000 | 608,574,000 | 629,685,000 | 640,168,000 | 5,000,010 | 5,000,010 | 5,000,008 | ||
total liabilities and stockholders’ equity | 190,751,000 | 203,559,000 | 216,233,000 | 229,210,000 | 240,976,000 | 263,046,000 | 272,285,000 | 281,363,000 | 297,654,000 | 328,383,000 | 356,145,000 | 390,921,000 | 418,762,000 | 446,743,000 | 476,899,000 | 520,004,000 | 548,823,000 | 578,440,000 | 607,280,000 | 632,496,000 | 642,408,000 | 650,807,000 | 353,676,680 | 236,999,147 | 237,148,974 | ||
intangible assets | 200,000 | 237,000 | 222,000 | 200,000 | 195,000 | 186,000 | 211,000 | 235,000 | 259,000 | 283,000 | 308,000 | 332,000 | |||||||||||||||
(accumulated deficit) retained earnings | -97,764,000 | -68,634,000 | -38,312,000 | -3,085,000 | -2,425,212 | ||||||||||||||||||||||
retained earnings | 25,746,000 | 55,133,000 | 118,520,000 | 151,995,000 | 179,103,000 | 208,730,000 | 235,345,000 | 344,798 | 2,601,930 | 2,323,797 | 1,740,977 | ||||||||||||||||
debt, net of current portion | 908,000 | ||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||
liabilities and stockholders’ equity: | |||||||||||||||||||||||||||
convertible notes payable derivative liabilities | |||||||||||||||||||||||||||
current portion of debt | 49,000 | ||||||||||||||||||||||||||
convertible notes payable derivative liabilities, net of current portion | |||||||||||||||||||||||||||
assets: | |||||||||||||||||||||||||||
cash | 117,102,142 | 231,081 | 747,807 | 916,226 | 1,016,141 | ||||||||||||||||||||||
prepaid expenses | 90,886 | 124,168 | 176,042 | 178,402 | 228,522 | ||||||||||||||||||||||
cash and investments held in trust account | 236,483,652 | ||||||||||||||||||||||||||
accrued expenses | 508,300 | ||||||||||||||||||||||||||
note payable to sponsor | 120,000 | ||||||||||||||||||||||||||
accrued franchise tax | 30,000 | 20,000 | 50,000 | 200,000 | 150,000 | ||||||||||||||||||||||
due to private placement investors | 117,100,000 | ||||||||||||||||||||||||||
deferred legal fees associated with initial public offering | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | ||||||||||||||||||||||
deferred underwriting commissions associated with initial public offering | 8,128,108 | 8,128,108 | 8,128,108 | 8,128,108 | 8,128,108 | ||||||||||||||||||||||
class a common stock, 0.0001 par value... | 218,913,750 | 221,683,760 | 223,940,901 | 223,662,761 | 223,079,940 | ||||||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||||||||
class b common stock, 0.0001 par value... | 583 | 583 | 583 | 583 | 583 | ||||||||||||||||||||||
general and administrative expenses | 2,706,764 | 2,273,986 | |||||||||||||||||||||||||
administrative expenses - related party | 30,000 | 30,000 | |||||||||||||||||||||||||
franchise tax expense | 50,000 | 50,000 | |||||||||||||||||||||||||
income from operations | -2,786,764 | -2,353,986 | |||||||||||||||||||||||||
investment income from investments held in trust account | 16,754 | 110,300 | |||||||||||||||||||||||||
income/(loss) before income tax expense | -2,770,010 | -2,243,686 | |||||||||||||||||||||||||
income tax expense | 13,446 | ||||||||||||||||||||||||||
net income/ | -2,770,010 | -2,257,132 | |||||||||||||||||||||||||
weighted-average shares outstanding of class a common stock | 23,300,917 | 23,300,917 | |||||||||||||||||||||||||
basic and diluted net income per share, class a common stock | |||||||||||||||||||||||||||
weighted-average shares outstanding of class b common stock | 5,825,230 | 5,825,230 | |||||||||||||||||||||||||
basic and diluted net (loss) per share, class b common stock | -0.48 | ||||||||||||||||||||||||||
investments held in trust account | 236,643,898 | 236,613,598 | 236,054,346 | 235,275,101 | |||||||||||||||||||||||
accrued income tax | 118,406 | 104,960 | |||||||||||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of june 30, 2020 and december 31, 2019 | |||||||||||||||||||||||||||
basic and diluted net income per share, class a | |||||||||||||||||||||||||||
basic and diluted net income/(loss) per share, class b | -0.4 | ||||||||||||||||||||||||||
liabilities and stockholders' equity: | |||||||||||||||||||||||||||
commitments | |||||||||||||||||||||||||||
stockholders' equity: | |||||||||||||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of march 31, 2020 and december 31, 2019 | |||||||||||||||||||||||||||
total stockholders' equity | 5,000,001 | 5,000,009 | |||||||||||||||||||||||||
total liabilities and stockholders' equity | 237,537,447 | 236,519,764 | |||||||||||||||||||||||||
deferred offering costs associated with initial public offering | |||||||||||||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of december 31, 2019 and 2018 | |||||||||||||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding as of september 30, 2019 and december 31, 2018 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||||||||
net loss | -11,737,000 | -13,183,000 | -13,337,000 | -13,414,000 | -17,254,000 | -14,398,000 | -11,202,000 | -10,856,000 | -15,592,000 | -29,130,000 | -30,322,000 | -35,227,000 | -28,831,000 | -63,387,000 | -33,475,000 | -27,108,000 | -26,615,000 | -23,244,000 | -16,562,000 | |||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||||
depreciation and amortization | 2,109,000 | 1,890,000 | 1,638,000 | 1,286,000 | 1,142,000 | 1,007,000 | 855,000 | 713,000 | 572,000 | 1,715,000 | 664,000 | 608,000 | 524,000 | 404,000 | 269,000 | 284,000 | 270,000 | 227,000 | 243,000 | 211,000 | 203,000 | |||||||
amortization and accretion of investments | -247,000 | -304,000 | -266,000 | -417,000 | -575,000 | -589,000 | -650,000 | -866,000 | -973,000 | -1,047,000 | -1,032,000 | -595,000 | -194,000 | 257,000 | 465,000 | 578,000 | ||||||||||||
noncash lease expense | 505,000 | 491,000 | 480,000 | 467,000 | 525,000 | 348,000 | 442,000 | 771,000 | 78,000 | 424,000 | 414,000 | 356,000 | 302,000 | 322,000 | 309,000 | 310,000 | 303,000 | 11,000 | 202,000 | 296,000 | 222,000 | |||||||
gain on disposal of assets, including assets held for sale | -414,000 | -524,000 | -112,000 | -306,000 | -279,000 | -741,000 | ||||||||||||||||||||||
share-based compensation | 1,452,000 | 1,419,000 | 1,378,000 | 1,386,000 | 1,295,000 | 1,074,000 | 1,096,000 | 1,125,000 | 1,320,000 | 1,047,000 | 1,409,000 | 1,721,000 | 2,040,000 | 1,711,000 | 1,783,000 | 1,922,000 | 1,563,000 | 950,000 | 545,000 | 1,917,000 | 1,510,000 | |||||||
carrying value adjustment to assets held for sale | 0 | 0 | 0 | 1,590,000 | 900,000 | 0 | 0 | 5,564,000 | ||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||
accounts receivable | -2,537,000 | 234,000 | 436,000 | 769,000 | -5,000 | -1,303,000 | -247,000 | -251,000 | -82,000 | 100,000 | 664,000 | 33,000 | 299,000 | -356,000 | -780,000 | 651,000 | -695,000 | 289,000 | 12,000 | |||||||||
inventory | -1,919,000 | -8,000 | -8,000 | -23,000 | -1,026,000 | 59,000 | -2,285,000 | -1,978,000 | -1,397,000 | |||||||||||||||||||
prepaid expenses and other assets | 856,000 | -347,000 | 554,000 | 294,000 | 1,626,000 | -229,000 | -84,000 | 2,251,000 | -7,382,000 | 1,663,000 | 4,563,000 | -450,000 | -5,313,000 | -3,668,000 | 2,502,000 | 497,000 | 98,000 | -4,121,000 | ||||||||||
accounts payable | -389,000 | -535,000 | -558,000 | 1,069,000 | -54,000 | -210,000 | 584,000 | -666,000 | -2,573,000 | 801,000 | 1,268,000 | -928,000 | 215,000 | 541,000 | -407,000 | -545,000 | -4,249,000 | -298,000 | -323,000 | 5,808,000 | 132,000 | -2,984,415 | 1,827,649 | 1,735,386 | 155,380 | -17,916 | -2,186 | 31,218 |
accrued expenses and other liabilities | 251,000 | -374,000 | -292,000 | -532,000 | -1,430,000 | 430,000 | 409,000 | -1,361,000 | -3,066,000 | 275,000 | -6,713,000 | 4,562,000 | -1,144,000 | -2,657,000 | 3,204,000 | 3,805,000 | 219,000 | |||||||||||
operating lease liabilities | -656,000 | -625,000 | -613,000 | -597,000 | -585,000 | 264,000 | -67,000 | -1,048,000 | 4,000 | -522,000 | -506,000 | -408,000 | -340,000 | -405,000 | -363,000 | -325,000 | -212,000 | -203,000 | -117,000 | -74,000 | -182,000 | |||||||
net cash from operating activities | -12,726,000 | -11,858,000 | -10,692,000 | -9,995,000 | -14,004,000 | -13,447,000 | -9,895,000 | -10,694,000 | -22,702,000 | -24,535,000 | -28,838,000 | -30,350,000 | -33,239,000 | -33,435,000 | -27,871,000 | -26,268,000 | -29,303,000 | -30,680,000 | -25,663,000 | -13,402,000 | -10,757,000 | -21,452,866 | -525,939 | -596,726 | -368,469 | -566,106 | -446,645 | -19,000 |
capital expenditures | -1,744,000 | -1,737,000 | -9,925,000 | -4,038,000 | -7,090,000 | -5,977,000 | 77,000 | -5,554,000 | -2,350,000 | -646,000 | -2,845,000 | -665,000 | -2,733,000 | -264,000 | 0 | -566,000 | 73,000 | -167,000 | -1,248,000 | -607,000 | -358,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -14,470,000 | -13,595,000 | -20,617,000 | -14,033,000 | -21,094,000 | -19,424,000 | -9,818,000 | -16,248,000 | -25,052,000 | -25,181,000 | -31,683,000 | -31,015,000 | -35,972,000 | -33,699,000 | -27,871,000 | -26,834,000 | -29,230,000 | -30,847,000 | -26,911,000 | -14,009,000 | -11,115,000 | -21,452,866 | -525,939 | -596,726 | -368,469 | -566,106 | -446,645 | -19,000 |
cash flows from investing activities | ||||||||||||||||||||||||||||
purchase of property and equipment | -1,874,000 | -1,737,000 | -10,428,000 | -4,241,000 | -7,334,000 | -5,977,000 | -350,000 | -209,000 | -167,000 | -1,248,000 | -607,000 | -358,000 | ||||||||||||||||
proceeds from sale of property and equipment | 1,598,000 | 1,042,000 | 392,000 | 581,000 | 219,000 | 1,275,000 | 640,000 | 2,898,000 | 572,000 | 0 | 0 | 0 | 2,000 | 119,000 | ||||||||||||||
receipt of security deposit | 0 | 0 | 0 | 41,000 | ||||||||||||||||||||||||
purchase of investments | -15,174,000 | -10,116,000 | -17,929,000 | -40,870,000 | -22,760,000 | -8,916,000 | -23,707,000 | -19,473,000 | -71,004,000 | -67,799,000 | -31,394,000 | -108,468,000 | -53,319,000 | -47,563,000 | -59,234,000 | -49,093,000 | -29,693,000 | -19,561,000 | -219,460,000 | |||||||||
proceeds from sale and maturity of investments | 25,500,000 | 27,811,000 | 41,000,000 | 35,399,000 | 24,627,000 | 40,200,000 | 43,452,000 | 29,373,000 | 53,861,000 | 36,866,000 | 82,910,000 | 62,113,000 | 33,533,000 | 107,341,000 | 51,890,000 | 46,992,000 | 57,500,000 | 48,825,000 | ||||||||||
net cash from investing activities | 10,050,000 | 17,000,000 | 13,035,000 | 13,342,000 | 17,553,000 | -5,372,000 | 18,838,000 | 18,119,000 | 27,908,000 | 16,747,000 | 9,103,000 | -6,695,000 | -847,000 | -1,272,000 | -17,886,000 | -921,000 | -1,943,000 | -390,000 | -1,916,000 | -3,868,000 | -59,817,000 | 306,000 | 306,000 | -233,009,170 | ||||
cash flows from financing activities | ||||||||||||||||||||||||||||
taxes paid related to net share settlement of equity awards | -84,000 | -56,000 | -88,000 | -444,000 | -19,000 | -28,000 | -70,000 | -295,000 | -7,000 | -16,000 | -21,000 | -195,000 | 0 | -26,000 | -11,000 | -120,000 | ||||||||||||
net cash from financing activities | -82,000 | -56,000 | -88,000 | -444,000 | -19,000 | -11,000 | -3,007,000 | -11,290,000 | -13,000 | 130,000 | 44,000 | -176,000 | 14,000 | -15,000 | 15,000 | -92,000 | -4,000 | 51,000 | 264,000 | 15,587,000 | 527,284,000 | 0 | 0 | 234,445,062 | ||||
net increase in cash and cash equivalents and restricted cash | -2,676,000 | 5,060,000 | 2,287,000 | 3,259,000 | 3,105,000 | -31,074,000 | ||||||||||||||||||||||
cash and cash equivalents and restricted cash, beginning of period | 23,603,000 | 0 | 0 | 0 | 9,892,000 | 0 | 0 | 0 | 21,464,000 | 0 | 0 | 0 | 120,133,000 | 0 | 0 | 0 | 259,110,000 | |||||||||||
cash and cash equivalents and restricted cash, end of period | 20,927,000 | 5,060,000 | 2,287,000 | 3,259,000 | 12,997,000 | -18,838,000 | 8,932,000 | 4,418,000 | 15,380,000 | -7,801,000 | -19,605,000 | -37,001,000 | 85,871,000 | -34,693,000 | -45,772,000 | -27,174,000 | 227,772,000 | |||||||||||
supplemental disclosure of noncash investing and financing activities: | ||||||||||||||||||||||||||||
acquisitions of property and equipment included in accounts payable and accrued expenses and other current liabilities | 130,000 | 503,000 | 203,000 | 244,000 | ||||||||||||||||||||||||
proceeds from exercise of common stock options | 0 | 17,000 | 2,000 | 48,000 | 27,000 | 146,000 | 65,000 | 19,000 | 14,000 | 11,000 | 26,000 | 28,000 | 38,000 | 51,000 | 215,000 | 287,000 | ||||||||||||
repurchase of treasury stock | 0 | 0 | -2,939,000 | -11,043,000 | ||||||||||||||||||||||||
repurchase of treasury stock included in accrued expenses | -6,000 | -168,000 | 294,000 | |||||||||||||||||||||||||
inventory write-down | 147,000 | 761,000 | 0 | 231,000 | 7,000 | 2,321,000 | 1,988,000 | 1,325,000 | ||||||||||||||||||||
change in operating assets and liabilities: | ||||||||||||||||||||||||||||
payments for security deposit | 0 | 0 | 0 | 28,000 | ||||||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | 4,418,000 | -6,084,000 | -7,801,000 | -19,605,000 | -37,001,000 | -34,262,000 | -45,772,000 | -27,174,000 | -31,338,000 | |||||||||||||||||||
acquisitions of property and equipment included in accounts payable and other | 77,000 | -318,000 | 468,000 | -42,000 | 299,000 | 255,000 | 0 | -216,000 | 282,000 | |||||||||||||||||||
right-of-use assets obtained in exchange for lease obligations | 0 | |||||||||||||||||||||||||||
gain on disposal of assets | -506,000 | -572,000 | ||||||||||||||||||||||||||
purchase of property and equipment and other | -5,236,000 | -2,818,000 | -646,000 | -2,803,000 | -964,000 | -2,988,000 | -264,000 | |||||||||||||||||||||
loss on impairment and disposal of assets | ||||||||||||||||||||||||||||
provision for doubtful accounts | ||||||||||||||||||||||||||||
acquired in-process research and development | 0 | |||||||||||||||||||||||||||
change in operating assets and liabilities, net of effects of business acquisition: | ||||||||||||||||||||||||||||
purchase of in-process research and development | 0 | |||||||||||||||||||||||||||
loss on disposal of assets | 0 | 1,000 | -2,000 | -46,000 | 133,000 | 2,000 | ||||||||||||||||||||||
common stock issued for purchase of assets | ||||||||||||||||||||||||||||
net income | -2,770,010 | -2,257,132 | 278,133 | 739,729 | 808,915 | 192,924 | ||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||
amortization of investment premiums and discounts | 498,000 | 471,000 | ||||||||||||||||||||||||||
loss on extinguishment of debt | ||||||||||||||||||||||||||||
paid-in-kind interest on convertible notes payable | ||||||||||||||||||||||||||||
amortization of debt discount | ||||||||||||||||||||||||||||
change in fair value of convertible notes payable derivative liabilities | ||||||||||||||||||||||||||||
change in fair value of warrant liability | ||||||||||||||||||||||||||||
business combination and pipe financing, net of issuance costs paid | ||||||||||||||||||||||||||||
proceeds from exercise of stock warrants, net of issuance costs | 0 | 0 | 0 | 16,257,000 | ||||||||||||||||||||||||
proceeds from convertible notes payable issuance and derivative liabilities | ||||||||||||||||||||||||||||
(payments for)/proceeds from paycheck protection program loan | 0 | 0 | ||||||||||||||||||||||||||
payments for deferred financing costs | ||||||||||||||||||||||||||||
repayments on finance lease obligations | -49,000 | |||||||||||||||||||||||||||
payments for paycheck protection program loan | -908,000 | |||||||||||||||||||||||||||
supplemental disclosure of noncash investing information: | ||||||||||||||||||||||||||||
change in fair value of contingent consideration liability | ||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | ||||||||||||||||||||||||||||
cash flows from operating activities: | ||||||||||||||||||||||||||||
accrued expenses and other current liabilities | 1,491,000 | -3,273,000 | 3,091,000 | |||||||||||||||||||||||||
cash flows from investing activities: | ||||||||||||||||||||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||
proceeds from term loan | ||||||||||||||||||||||||||||
payments for deferred transaction costs | ||||||||||||||||||||||||||||
cash and cash equivalents - beginning of the period | ||||||||||||||||||||||||||||
cash and cash equivalents and restricted cash - end of the period | ||||||||||||||||||||||||||||
prepaid expenses and other current assets | 4,122,000 | 817,000 | ||||||||||||||||||||||||||
proceeds from sale of investments | 16,357,000 | 160,001,000 | ||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -17,006,000 | -54,987,000 | ||||||||||||||||||||||||||
cash and cash equivalents- beginning of the period | 0 | 389,705,000 | ||||||||||||||||||||||||||
cash and cash equivalents - end of the period | -17,006,000 | 334,718,000 | ||||||||||||||||||||||||||
proceeds from convertible notes payable issuance and derivative liability | ||||||||||||||||||||||||||||
operating activities: | ||||||||||||||||||||||||||||
change in operating assets and liabilities, net of effects of business | ||||||||||||||||||||||||||||
acquisition: | ||||||||||||||||||||||||||||
other assets | ||||||||||||||||||||||||||||
investing activities: | ||||||||||||||||||||||||||||
financing activities: | ||||||||||||||||||||||||||||
proceeds from the exercise of stock warrants | ||||||||||||||||||||||||||||
proceeds from paycheck protection program loan | ||||||||||||||||||||||||||||
net increase in cash and cash equivalents: | ||||||||||||||||||||||||||||
cash and cash equivalents, end of period | ||||||||||||||||||||||||||||
general and administrative expenses paid by sponsor | 0 | 0 | 4,218 | |||||||||||||||||||||||||
investment income from investments held in trust account | -16,754 | -110,300 | -759,302 | -1,181,406 | -1,306,019 | -390,506 | ||||||||||||||||||||||
prepaid expenses | 33,282 | 51,874 | 2,360 | 14,610 | 64,881 | -55,213 | ||||||||||||||||||||||
accrued expenses | -141,853 | -20,000 | 76,853 | |||||||||||||||||||||||||
accrued franchise tax | 10,000 | -30,000 | -150,000 | 50,000 | 50,000 | 50,000 | ||||||||||||||||||||||
cash deposited in trust account | 0 | 0 | -233,009,170 | |||||||||||||||||||||||||
interest released from trust account | 177,000 | 80,000 | 200,050 | 306,000 | ||||||||||||||||||||||||
net cash provided by/(used in) investing activities | 177,000 | 80,000 | 200,050 | |||||||||||||||||||||||||
proceeds from private placement investors | ||||||||||||||||||||||||||||
proceeds from note payable to related parties | ||||||||||||||||||||||||||||
gross proceeds received from initial public offering | 0 | 0 | 233,009,170 | |||||||||||||||||||||||||
proceeds received from sale of private placement warrants | 0 | 0 | 6,660,183 | |||||||||||||||||||||||||
repayment of note payable to sponsor | 0 | 0 | -579,658 | |||||||||||||||||||||||||
offering costs paid | 0 | 0 | -4,644,633 | |||||||||||||||||||||||||
net increase in cash | -260,106 | -140,645 | 1,416,892 | |||||||||||||||||||||||||
cash - beginning of the period | 0 | 0 | 916,226 | |||||||||||||||||||||||||
cash - end of the period | 116,871,061 | -516,726 | 747,807 | -260,106 | -140,645 | 1,416,892 | ||||||||||||||||||||||
reduction of accounts payable paid by sponsor included in note payable | 0 | 0 | 10,213 | |||||||||||||||||||||||||
offering costs included in accrued expenses | 0 | 0 | 85,000 | |||||||||||||||||||||||||
offering costs included in note payable | 0 | 0 | 250,997 | |||||||||||||||||||||||||
deferred underwriting commissions associated with the initial public offering | 0 | 0 | 8,128,108 | |||||||||||||||||||||||||
deferred legal fees associated with the initial public offering | 0 | 0 | 150,000 | |||||||||||||||||||||||||
prepaid expenses included in note payable | 0 | 0 | 252,800 | |||||||||||||||||||||||||
change in value of class a common stock subject to possible redemption | ||||||||||||||||||||||||||||
● | ||||||||||||||||||||||||||||
accrued income tax | 13,446 | 104,960 | -42,236 | 71,506 | ||||||||||||||||||||||||
net increase/(decrease) in cash | ||||||||||||||||||||||||||||
change in value of common stock subject to possible redemption | ||||||||||||||||||||||||||||
net (decrease)/increase in cash | -168,419 | |||||||||||||||||||||||||||
value of common stock subject to possible redemption | 278,140 | 739,730 | 808,910 | 221,531,300 | ||||||||||||||||||||||||
supplemental disclosure of noncash activities: | ||||||||||||||||||||||||||||
supplemental cash flow disclosure: | ||||||||||||||||||||||||||||
cash paid for income taxes |