Hyliion Holdings (HYLN) Revenues Surge to $2.8 million

Catherine Talavera

Mon, May 18, 2026 at 3:16 PM EDT 2 min read

Hyliion Holdings Corp. (NYSE:HYLN) is one of the 8 Best Small Cap Data Center Stocks to Buy. On May 12, Hyliion reported research and development service revenue of $2.8 million, approximately 479% higher than the $489,000 it generated in the same period a year ago.

The company attributed the revenue growth to an acceleration of work under its contracts with the Office of Naval Research, including the construction of the 800-kilowatt KARNO Power Module, which is being delivered to the Navy. During the quarter, Hyliion commenced the building of the said power module, with completion expected this year.

Hyliion said the 800-kilowatt architecture also serves as the foundational building block for the company’s data center offering, scalable to 2.4 and 3.2 megawatts to match the modular power requirements of data center customers.

For this year, the company is maintaining full-year revenue guidance of approximately $10 million from R&D services and potential initial sales to commercial customers, following the commercialization of the 200-kilowatt KARNO Power Module, expected late in the year.

Hyliion Holdings Corp. (NYSE:HYLN) provides innovative solutions that enable clean, flexible, and affordable electricity production. The Company’s primary focus is to provide modular power plants that can operate on various fuel sources to future-proof against an ever-changing energy economy.

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