Hyzon Reports First Revenue as Its Hydrogen Trucks Begin Shipping

Electric heavy-truck maker Hyzon Motors (NASDAQ: HYZN) said that it remains on track to ship its first 85 vehicles by the end of the year. The company also announced that its two U.S. manufacturing facilities will be fully up and running by mid-2022.

Hyzon reported an operating loss of $50.6 million for the third quarter, but it was technically profitable on a net income basis, thanks to a bit over $80 million in non-cash accounting credits related to earnout liabilities and privately held warrants. 

Including those credits, Hyzon's net income was $32.4 million, or $0.13 per share, on revenue of about $962,000. Hyzon had told electric-vehicle (EV) investors in August that Q3 would be its first quarter with positive revenue -- and it was. 

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Source Fool.com