Heliogen, Inc.

Heliogen, Inc.

HLGN
Heliogen, Inc.US flagOther OTC
1.70
USD
+0.04
- -
10.48MMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
TTM
Revenue per Share
- -
0.72
21.53
1.2
0.15
3.27
3
Basic EPS, GAAP
-26.28
-26.66
-401.76
-26.13
-22.26
5.36
6.78
Free Cash Flow per Basic Share
-24.03
-26.16
-90.8
-12.85
-12.3
-6.4
-5.4
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
-77.9
-104.57
-487
-56.79
-75.26
-66.81
-67.44
Tangible Book Value per Share
-74.33
-99.88
613.15
22.85
-1.39
4.78
3.77
Basic Weighted Avg Shares
- -
- -
- -
5
6
6
6
Sales/Revenue/Turnover
- -
- -
7
7
1
20
18
Operating Margin (%)
- -
-3,756.5
-597.19
-2,351.43
-13,980.29
184.7
256.72
Depreciation Expense
- -
- -
1
3
2
1
1
Net Income, GAAP
-7
-7
-137
-142
-130
33
41
Effective Tax Rate (%)
- -
- -
- -
- -
- -
0.02
0.01
Profit Margin (%)
- -
-3,718.5
-1,866.45
-2,178.25
-14,594.37
164.01
226.1
Working Capital
14
17
215
108
-19
26
23
LT Debt
- -
- -
14
14
13
2
1
Total Equity
-21
-28
214
125
-8
29
23
Return on Invested Capital (%)
- -
- -
- -
- -
- -
181.72
547.62
Return on Capital (%)
- -
- -
- -
- -
- -
-7.9
-9.75
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'24
Dec'24
Mar'25
ST Debt
2
3
1
LT Borrowings
- -
- -
- -
LT Finance Leases
5
2
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
11
11
5

Working Capital

FRC

in mil. unless spec.
Sep'24
Dec'24
Mar'25
Total Current Assets
49
39
31
Cash, Cash Equivalents & STI
45
37
30
Accounts Receivable, Net
1
1
1
Inventories
- -
- -
- -
Total Current Liabilities
105
13
9
Payables & Accruals
8
10
8
ST Debt
2
3
1
Deferred Revenue
20
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-288.76%
-462.05%
Free Cash Flow
- -
83.23%
-45.77%
Net Income, GAAP
- -
323.72%
-125.11%
Sales/Revenue/Turnover
- -
- -
2,134.68%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1
1
2
-5
1
2024
1
2
1
15
20
2025
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-1.87
-3.78
-3.13
-13.15
-22.26
2024
-2.53
-3.19
-1.94
12.86
5.36
2025
-1.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Christiana Obiaya
Full Time Employees
57
Sector
Utilities
Industry
Renewable Utilities
Address
130 West Union Street Pasadena CA United States of America 91103
IPO Date
May 7, 2021
Business
Heliogen, Inc. (HLGN) develops and commercializes AI-enabled concentrated solar energy technologies that deliver dispatchable low-carbon power, heat, and hydrogen for industrial decarbonization; its core offerings include heliostat fields with proprietary HelioMind AI control systems for precise sunlight concentration, solar receivers capable of exceeding 1,000 degrees Celsius, molten salt thermal energy storage for long-duration dispatchability, heat engines, hybrid photovoltaic systems, and engineering services encompassing technoeconomic analysis, project development, procurement, and operations support for power, heat, and water applications. The company targets heavy industries such as cement, steel, mining, refining, oil and gas, minerals processing, and data centers requiring high-temperature heat or reliable baseload energy, primarily in high-solar-irradiance regions including the United States and select international markets. Founded in 2013 and headquartered in Pasadena, California, Heliogen went public in 2021 via a SPAC merger and most recently completed its acquisition by Zeo Energy Corp. in August 2025 in an all-stock transaction valued at approximately $10 million, establishing a new division within Zeo for long-duration energy generation and storage to serve commercial, industrial, and utility-scale customers including AI data centers while leveraging Heliogen's intellectual property, brand, and technical talent alongside Zeo's residential solar platform and financing capabilities.

Company News

APIChat
  • Zeo Energy Corp. Completes Acquisition of Heliogen, Inc.

  • Leading Independent Proxy Advisory Firms Recommend That Heliogen, Inc. Stockholders Vote "FOR" the Proposed Merger with Zeo Energy Corp.

  • SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CVAC, KNW, SOAR, HLGN on Behalf of Shareholders

  • SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates PVBC, KNW, HLGN on Behalf of Shareholders

  • SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates KNW and HLGN on Behalf of Shareholders

  • HELIOGEN INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Heliogen, Inc. - HLGN

  • HLGN Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of Heliogen, Inc. is Fair to Shareholders

  • Zeo Energy Corp. to Acquire Heliogen, Inc., Expected to Create a Clean Energy Platform for Residential, Commercial, and Utility Markets

  • Heliogen, Inc. Announces Fourth Quarter and Full Year 2024 Financial and Operational Results

  • Heliogen Concludes Capella Demonstration, Advancing Next-Generation Concentrated Solar Technology

  • Heliogen, Inc. Announces Third Quarter 2024 Financial and Operational Results

  • Heliogen Appoints Apurba Das as Chief Technology Officer

  • Heliogen, Inc. Announces Second Quarter 2024 Financial and Operational Results

  • Heliogen Extends Limited Duration Stockholders Rights Plan

  • Heliogen, Inc. (HLGN) Q4 2023 Earnings Call Transcript

  • Heliogen, Inc. Announces Fourth Quarter and Full Year 2023 Financial and Operational Results; Appoints New CFO

  • Heliogen, Inc. Schedules Release of Fourth Quarter and Full Year 2023 Financial Results and Conference Call

  • Heliogen Announces CFO Transition

  • Heliogen's CEO to Lead Public Presentation in Sidoti's Virtual Investor Conference

  • Heliogen Unveils Significant Achievement in Concentrating Solar Technology with Successful Demonstration of Advanced Control Software at Sandia Labs