Hyliion (HYLN) Q2 FY26 earnings call: guidance and Q&A

Clarification on the current production capacity of the 30 printers.

The existing installed base of printers, including those on order, will be able to produce up to 15 megawatts per year of Carno core capacity, incorporating discussed advancements.

“So it was 1.5, 15 megawatts per year. We see that the existing install base and the printers that we already have on order and expected to come in, that will be able to produce up to 15 megawatts a year.”

asked by Sean Milligan · answered by Thomas Healy

How the data center pipeline is progressing, whether to expect more LOIs or test orders, and potential catalysts.

Hyliion has 750 Carno cores worth of LOIs, representing ~$400M potential revenue, which is a fraction of current customer interest. Engagements with hyperscalers and data center builders are focused on scaling production to meet demand ranging from tens to hundreds of megawatts, and even gigawatt scale. The company aims to scale additive manufacturing to meet this demand.

“So we have about 750 Carno cores worth of LOIs that are executed that represents around 400 million of potential revenue opportunity at current pricing. What I'll say though is that is only a fraction of the customer engagements and customer interests that we are seeing and engaging in.”

asked by Sean Milligan · answered by Thomas Healy

Inquiring about the speed of ordering and receiving printers, potential constraints, and the ability to accelerate the supply chain for additive manufacturing.

The Austin facility has space for hundreds of additional printers. Printers are sourced from Calibrium Additive (GE company) and are standard, not unique to Hyliion. GE has been in production for over a decade and can scale. Lead times are anticipated to be in the low number of quarters or months. The infrastructure and supplier capacity are not seen as major constraints.

“The great thing is, is these are the same printers that they use in aerospace. They're selling into the health care industry and even are being brought in. brought into other industries as well. And so these are not unique printers that are just for Hyliion.”

asked by Sean Milligan · answered by Thomas Healy

Clarification on the 10 early adopter units, specifically if the data center deployment is for 200kW systems, if there's product revenue, and how the remaining units are used for validation.

The data center deployment this year will be a 200kW system, intended to build confidence for future multi-megawatt orders. While customers are charged for these units, revenue is not recognized from an accounting standpoint until commercialization. The remaining units of the 10 early adopters are all Navy assets.

“So that will be with a 200 kilowatt system, as you mentioned, so the base smaller enclosure, that customer ultimately has long-term interest in the multi-megawatt product. But the great thing is that technology on the inside of the box is the same.”

asked by Edward Jackson · answered by Thomas Healy

When Hyliion expects to finalize 2027 capex needs for printers and when the spending will kick in, given lead times.

While 2027 capex isn't finalized, print speed improvements enable restarting printer acquisitions. Spending will ramp up from the current $4M in FY26. Initial steps involve deposits, and actual delivery timing (late 2027 or into 2028) depends on technology availability. The message is to pull ahead the ability to bring in printers for future production capacity.

“So next year we would start to ramp that back up again. And what's going to dictate that, you know, the initial step is what, you know, when you place orders, you put deposits down, you know, there are There could be an opportunity to actually get the printers delivered.”

asked by Edward Jackson · answered by Jon Panzer

Seeking clarification on the $10M-$15M equipment financing and a separate mention of $30M-$35M.

The $10M-$15M is for equipment financing. The $30M-$35M refers to the *net cash spending* for FY26, which is an improvement from the previously projected $50M. This improvement is due to higher revenue, lower overall spending, and the equipment financing.

“So that cash forecast was 50 and now somewhere of net spending and now it's somewhere between 30 and 35. So I didn't mean to imply that the financing would be in the 30 to 35. The financing will be 10 to 15.”

asked by Edward Jackson · answered by Jon Panzer

Understanding the revenue cadence of the $41.7M Navy contract for 2027-2028 and if the original contracts will contribute revenue beyond 2026.

The bulk of the $41.7M contract will be spent over 2027 and 2028. The older military contracts (preceding the $41.7M one) will wind down in Q3/Q4 2026, with no revenue carrying into 2027. New contracts, including the $41.7M one, will ramp up in Q4 2026 and accelerate in 2027-2028, with additional contracts expected to be signed in those years, leading to continuous R&D services revenue growth and eventual commercial system deliveries.

“So I think the answer to your last question is yes, the old contracts, if I can call them that, will start to wind down this quarter because we'll have spent that and the new contracts will start up in Q4 of this year. And then those will accelerate in 27 and 28.”

asked by Edward Jackson · answered by Jon Panzer