Hyzon Motors reports Q4 quarterly net cash burn $25.5M

As of December 31, 2023, unrestricted cash, cash equivalents, and short-term investments were $112.3M, approximately $25.5M lower than the September 30, 2023 balance of $137.8M. Net cash burn of $25.5M during the quarter represented the lowest quarterly net cash burn over the last nine quarters and the fourth consecutive quarter of declining net cash burn. “We are pleased with the continued progress we have made on reducing our net cash burn through focused operational efficiencies, cash management, lower legal and professional services expenses, and strategic focus. Our quarterly net cash burn in Q4 came to $25.5 million representing a fourth consecutive quarter of declining burn, showing our continued focus on prudent cash and capital management while driving our technology and commercialization progress forward,” said Hyzon CFO Stephen Weiland.