Hyliion Holdings Sees FY24 Total Cash Consumed By KARNO Generator Business $40M-$50M
Portfolio Pulse from Benzinga Newsdesk
Hyliion Holdings forecasts that its KARNO Generator business will consume between $40M to $50M in total cash for the fiscal year 2024.
February 13, 2024 | 9:33 pm
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Hyliion Holdings anticipates its KARNO Generator business will require $40M-$50M in cash for FY24.
The projected cash consumption by Hyliion's KARNO Generator business indicates significant outflows, which could raise concerns about the company's financial health and cash reserves in the short term. This news is likely to be viewed negatively by investors, potentially leading to a decrease in stock price as concerns about future profitability and cash flow sustainability may arise.
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