- Hyzon Motors Inc (NASDAQ:HYZN)) reported fourth-quarter FY21 sales of $5.09 million, missing the consensus of $21.39 million.
- Loss from operations widened to $(38.7) million, and net loss attributable deepened to $(28.6) million.
- Operating expenses of $43.8 million comprised $7.5 million in research and development and $16.1 million in selling, general and administrative expenses.
- Adjusted EBITDA loss widened to $(36.7) million. EPS loss of $(0.12) widened from $(0.08) last year.
- The company held $445.1 million in cash and equivalents as of December 31, 2021, including proceeds from the Business Combination that was completed in July 2021.
- Outlook: Hyzon expects to deliver 300-400 vehicles in FY22, with deliveries heavily weighted towards the back half of the year as the industry navigates supply chain challenges and global uncertainties.
- The company plans to begin assembling vehicles using its made-in-the-USA, high power-density fuel cells during the second half of 2022.
- It anticipates a Hyzon / Raven gas-to-hydrogen hub and waste-to-hydrogen hub online by 2022 end.
- Price Action: HYZN shares traded lower by 9.97% at $5.24 in premarket on the last check Wednesday.
