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Heliogen (HLGN)
OTHER OTC:HLGN
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Heliogen
(OTC:HLGN)
49Neutral
Heliogen (HLGN) vs. S&P 500 (SPY)
Market Cap
$5.17M
Dividend YieldN/A
Average Volume (3M)5.84K
Price to Earnings (P/E)0.2
Beta (1Y)2.40
Revenue Growth422.47%
EPS GrowthN/A
CountryUS
Employees57
SectorUtilities
Sector Strength86
IndustryRenewable Utilities
Share Statistics
EPS (TTM)4.89
Shares Outstanding6,116,752
10 Day Avg. Volume5,887
30 Day Avg. Volume5,836
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)43.28
Price to Cash Flow (P/CF)-0.20
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Heliogen Business Overview & Revenue Model
Company DescriptionHeliogen, Inc. (HLGN) is a renewable energy technology company that focuses on developing and commercializing solar power solutions. The company operates in the clean energy sector and specializes in concentrated solar energy systems. Heliogen's core product is a high-temperature solar thermal solution that aims to replace fossil fuels in industrial processes by harnessing solar power to generate heat, hydrogen, and electricity.
How the Company Makes MoneyHeliogen makes money by providing solar energy solutions to industrial clients seeking to reduce their carbon footprint and transition to renewable energy sources. The company's revenue model is primarily based on selling its solar thermal systems and related services, including installation, maintenance, and optimization. Heliogen also explores partnerships with industrial firms and energy companies to deploy its technology at scale, which can lead to additional revenue streams through licensing agreements or joint ventures. Key factors contributing to its earnings include advancements in solar technology, increasing demand for sustainable energy solutions, and potential government incentives for renewable energy projects.
Heliogen Financial Statement Overview
Summary
Heliogen is facing significant financial challenges across all verticals. The lack of profitability, negative equity, and persistent cash outflows highlight the company's operational and financial difficulties.Income Statement
Heliogen's income statement reflects significant challenges with revenue generation and profitability. The TTM data shows a negative gross profit margin, indicating costs far exceed revenues. The net profit margin is similarly negative, highlighting ongoing losses. Revenue growth has been inconsistent, with significant declines in recent periods, indicating volatility in the company's income generation capabilities.15
Very Negative
Balance Sheet
The balance sheet reveals a high degree of financial instability. The debt-to-equity ratio cannot be calculated due to negative equity, which is a concern for leverage. The company has negative stockholders' equity, signaling potential solvency issues. The equity ratio is negative, reflecting more liabilities than assets and underscoring financial distress.20
Very Negative
Cash Flow
Cash flow analysis indicates ongoing negative operating cash flow, a red flag for sustainability. Free cash flow remains negative, though slightly improved in the TTM. The cash flow to net income ratios are negative, aligning with the company's unprofitable status. Overall, cash flow deficits inhibit the company's ability to fund operations internally.25
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| -451.00K | 888.00K | 13.75M | 8.80M | 200.00K | 0.00 | Gross Profit |
| -61.25M | -59.16M | -33.78M | -4.88M | -217.11K | 0.00 | EBIT |
| -126.19M | -127.29M | -160.21M | 44.25M | -7.52M | -7.39M | EBITDA |
| -120.10M | -126.66M | -150.70M | -42.26M | -7.37M | -7.28M | Net Income Common Stockholders |
| -125.12M | -129.60M | -142.00M | -142.19M | -7.53M | -7.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 14.94M | 75.10M | 143.22M | 222.41M | 18.33M | 14.94M | Total Assets |
| 0.00 | 107.03M | 191.62M | 257.45M | 19.76M | 15.65M | Total Debt |
| 0.00 | 14.67M | 15.49M | 16.46M | 1.02M | 144.97K | Net Debt |
| 14.94M | -48.05M | -30.23M | -173.62M | -17.31M | -14.80M | Total Liabilities |
| 0.00 | 115.05M | 66.30M | 48.17M | 47.62M | 36.38M | Stockholders Equity |
| 14.96M | -8.02M | 125.32M | 209.28M | -27.86M | -20.74M |
| Cash Flow | Free Cash Flow | ||||
| -50.19M | -72.90M | -78.87M | -34.89M | -7.30M | -6.70M | Operating Cash Flow |
| -50.11M | -71.64M | -69.84M | -31.05M | -7.00M | -6.26M | Investing Cash Flow |
| 24.62M | 86.65M | -73.76M | -38.65M | -294.53K | -442.14K | Financing Cash Flow |
| -62.00K | 1.33M | -107.00K | 242.95M | 10.69M | 14.75M |
Heliogen Technical Analysis
Negative
0.84
Price Trends
0.90
Negative
1.28
Negative
1.65
Negative
Market Momentum
-0.01
Negative
48.32
Neutral
78.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HLGN, the sentiment is Negative. The current price of 0.84 is above the 20-day moving average (MA) of 0.83, below the 50-day MA of 0.90, and below the 200-day MA of 1.65, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.32 is Neutral, neither overbought nor oversold. The STOCH value of 78.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HLGN.
Heliogen Risk Analysis
Heliogen disclosed 39 risk factors in its most recent earnings report. Heliogen reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Heliogen Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $8.45B | 11.88 | 6.29% | 4.45% | 3.04% | -9.39% | |
49 Neutral | $5.17M | 0.17 | 309.93% | ― | 422.47% | ― | |
44 Neutral | $35.87M | ― | -25.26% | ― | -46.17% | -20.51% | |
41 Neutral | $7.00M | ― | -771.66% | ― | 10.92% | 52.75% | |
39 Underperform | $10.60M | ― | -335.00% | ― | ― | ― | |
38 Underperform | $5.48M | ― | -1134.77% | ― | ― | ― | |
27 Underperform | $5.97M | ― | -1.46% | ― | ― | -91.89% |
* Utilities Sector Average
Performance Comparison
HLGN
Heliogen
0.84
-0.53
-38.69%
CREG
Smart Powerr Corp
0.65
-0.53
-44.92%
HTOO
Fusion Fuel Green
0.23
-0.99
-81.15%
ADN
Advent Technologies Holdings
2.66
-2.44
-47.84%
WAVE
Eco Wave Power Global
6.15
2.63
74.72%
BNRG
Brenmiller
1.28
-1.04
-44.83%
Heliogen Earnings Call Summary
Earnings Call Date: Mar 27, 2025 | % Change Since: -6.67% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant advancements in joint agreements, project progress, and technology validation, while facing challenges with increased costs and negative revenue impacts from the Capella project. Despite these challenges, the company is focused on strategic growth and cost management.Highlights
Joint Development Agreement in Mexico
Signed a joint development agreement to deploy Heliogen's technology in Mexico, which is expected to have over 30 gigawatts of energy demand growth in the next decade. This agreement marks the first of its kind for the company.
Brenda Hydrogen Project Contract
Executed a contract with Woodside Energy for the Brenda Hydrogen Project in Arizona, intended to produce up to 20,000 metric tons per year of green hydrogen.
Progress on First Commercial Scale Project
Significant progress on the first commercial scale project in West Texas, expected to be completed by the end of 2024.
Advancements in CSP Technology
Validated closed-loop software at Sandia CSP test facility, significantly improving solar beam accuracy. This software is confirmed to work with third-party hardware, opening additional licensing opportunities.
Capella Project Milestones
Completed key milestones in the Capella project, which is poised to be the first commercial scale deployment of next-generation storage technology.
Growth in Commercial Pipeline
Commercial pipeline leads grew to over 2 gigawatts, with significant advancements in proposal and pre-FID activity stages.
Lowlights
Increased Costs in Capella Project
Capella project cost estimate increased by $53 million due to commodity and labor inflation and additional nonrecurring development costs.
Negative Revenue for Q4
Reported negative revenue of $1.2 million for Q4 due to revised cost estimates in the Capella project.
Reduced Revenue Backlog
Revenue backlog is relatively low, with a new contract adding only $1.6 million to the backlog.
Company Guidance
In the earnings call for Q4 2023, Heliogen Inc. provided guidance on several key metrics and strategic initiatives. The company emphasized its focus on scaling its concentrated solar thermal technology and advancing its PV hybrid product. A notable achievement was the signing of a joint development agreement in Mexico, aiming to capitalize on the country's forecasted 30 gigawatts of energy demand growth over the next decade. Heliogen reported a backlog of 7 megawatts across four projects, representing $76 million in revenue, although the Capella project's cost estimate increased by $53 million due to inflation and development costs. The company highlighted a contracted revenue backlog of $1.6 million for the Brenda Hydrogen Project in Arizona. Financially, Heliogen reduced its SG&A expenses by 12% and decreased total headcount by over 40% from its peak in Q4 2022. With a strategic review underway, the company aims to extend its liquidity into March 2025 and focus on generating meaningful revenue in 2024.Heliogen Corporate Events
Business Operations and Strategy
Heliogen Ends Capella Project Amid Rising Costs
Negative
Jan 23, 2025
Heliogen announced the conclusion of its Capella Project, initially a collaborative effort with Woodside Energy and the US Department of Energy, aimed at developing a 5 MWe concentrated solar power plant using Generation 3 CSP technology. Despite significant advancements in engineering and prototyping, escalating costs led to the decision not to proceed with construction. The project achieved several milestones in design and technology, contributing valuable insights for future CSP developments. Both Heliogen and Woodside continue to explore opportunities for deploying CSP technology.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.