Why Are Hyzon Motors Shares Trading Lower Today

Hyzon Motors Inc 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.

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