The deal with G&J Pepsi builds upon a deployment at a single bottling plant, which was announced in October.MOUNTAIN VIEW, Calif., Dec. 16, 2025 /PRNewswire/ -- Cyngn (NASDAQ: CYN) today announced that G&J Pepsi has signed a new purchase order for a multi-vehicle expansion of its DriveMod Tugger program. The order represents a continuation of G&J Pepsi's shift toward scaled autonomy across its distribution network.This next phase of deployment is notable because G&J Pepsi has not yet finalized which facili ...

Core Insights - Cyngn's DriveMod platform integrates seamlessly into industrial workflows, enhancing key performance metrics almost immediately [1][2][12] - Organizations view autonomy as a long-term capability, leading to improved material movement processes and workforce integration [2][12] Customer Perspectives - The DriveMod Tugger supports automation strategies by managing heavier loads, increasing efficiency, and reducing costs [3][12] - DriveMod is deployed on vehicles like the Motrec MT-160 Tugger and BYD Forklift, providing advanced automation for material handling [4][12] - A recent warehouse expansion utilized DriveMod to address labor challenges and meet future demands, enhancing efficiency and reliability [5][12] - Users report that DriveMod has become a consistent part of operations, improving safety and efficiency while being easy to implement [6][12] Industry Impact - Cyngn is advancing industrial autonomy with AI-powered solutions, unlocking potential for increased throughput and faster market delivery [7][9][12] - The DriveMod Tugger can haul up to 12,000 lbs and typically achieves a payback period of less than 2 years [13][12] - The technology addresses significant challenges in the industry, such as labor shortages and safety incidents, making it a valuable asset for manufacturers and logistics companies [12]

Business Development and Strategy - The company is focused on developing an Enterprise Autonomy Suite (EAS) that integrates advanced autonomous driving technology with data analytics, asset tracking, and fleet management [197]. - EAS is designed to be compatible with existing vehicle assets and aims to facilitate the adoption of industrial autonomy, targeting a transition to full automation for clients [198]. - The company aims to establish customer relationships with OEMs to embed its technology into their vehicle roadmaps, facilitating a "land and expand" strategy across multiple sites [206]. - The company has EAS licenses with paying customers and has conducted pilot deployments, indicating early market traction [203]. - The company is positioned to address industry challenges such as labor shortages and high upfront investment commitments through its autonomous vehicle solutions [195]. Financial Performance - For the three months ended September 30, 2025, the Company recognized revenue of $69,973, primarily from EAS subscriptions, software royalties, and hardware revenue [227]. - The cost of revenue for the same period was reported at $50,816, mainly consisting of deployment costs, personnel costs, travel expenses, and associated hardware costs [228]. - Research and development expenses increased by approximately $2.5 million or 88.0% to $5.3 million for the three months ended September 30, 2025, compared to $2.8 million for the same period in 2024 [230]. - General and administrative expenses for the three months ended September 30, 2025, increased by approximately $0.6 million or 23.9% to $3.2 million from approximately $2.6 million for the same period in 2024 [232]. Cash Flow and Funding - As of September 30, 2025, the Company had unrestricted cash of approximately $4.8 million and short-term investments of approximately $30.1 million [238]. - The Company entered into an ATM Sales Agreement allowing for the sale of up to $8.8 million of common stock, with a commission of up to 3.0% on gross proceeds [239]. - On December 20, 2024, the Company raised approximately $18.2 million from a public offering, after deducting placement agent fees and other expenses [244]. - The Company received net proceeds of approximately $12.7 million from a registered direct offering on June 26, 2025 [246]. - The Company received net proceeds of approximately $14.7 million from a registered direct offering on June 27, 2025 [247]. - Net cash used in operating activities for the nine months ended September 30, 2025 was approximately $16.8 million, an increase of 8.3% compared to $15.6 million for the same period in 2024 [251]. - Net cash used in investing activities for the nine months ended September 30, 2025 was approximately $31.6 million, a decrease of approximately $34.0 million compared to net cash provided by investing activities of approximately $2.6 million for the same period in 2024 [252]. - Net cash provided by financing activities for the nine months ended September 30, 2025 was $29.6 million, an increase of approximately $18.2 million compared to $11.4 million for the same period in 2024 [253]. - The company has sufficient funds for sustainable operations and can meet its payment obligations for the next 12 months based on cash flow projections [250]. Corporate Structure and Compliance - The appointment of a new Chief Financial Officer, Natalie Russell, is expected to enhance the company's financial strategy and operations [212]. - The company is classified as an "emerging growth company" and intends to take advantage of exemptions from various reporting requirements [254]. - The company will cease to be an emerging growth company upon reaching annual gross revenues of $1.07 billion or more [255]. - The company is also classified as a "smaller reporting company" with a market value of stock held by non-affiliates less than $700 million and annual revenue below $100 million [256]. - The company may continue to rely on exemptions from certain disclosure requirements as a smaller reporting company [256]. Operational Adjustments - The Company implemented a cost reduction plan to decrease its average monthly cash burn from approximately $1.8 million to approximately $1 million for 90 days [243]. - The net cash used in operating activities was primarily attributed to an increase in prepaid inventory and security deposits for a new office location [251]. - The decrease in net cash used in investing activities was due to short-term investment purchases and equipment acquisitions, offset by investment proceeds [252].

Financial Performance - Year-to-date revenue for Q3 2025 was $150.9 thousand, up from $61.8 thousand in Q3 2024, primarily from EAS software subscriptions related to DriveMod Tugger deployments[9] - Total costs and expenses for the year-to-date third quarter were $19.2 million, an increase of 11% from $17.3 million in Q3 2024, driven by a $2 million rise in general and administrative expenses[10] - Net loss for Q3 2025 was $(17.8) million, compared to $(17.2) million in Q3 2024, with a net loss per share of $(5.20) based on approximately 3.4 million shares outstanding[11] - Cyngn's net cash used in operating activities for the nine months ended September 30, 2025, was $(16.8) million, compared to $(15.6) million for the same period in 2024[23] Company Growth and Development - The company expanded its sales organization to the largest in its history, enhancing pipeline generation and lead quality[5] - Cyngn secured its 23rd U.S. patent for a modular sensor system designed for automated guided vehicles, strengthening its intellectual property portfolio[7] - Total stockholders' equity increased to $38.7 million as of September 30, 2025, compared to $(1) million at the end of 2024[15] - The company appointed Natalie Russell as Chief Financial Officer to enhance financial leadership and operational discipline[4] Cash and Investments - Cyngn's unrestricted cash and short-term investments totaled $34.9 million as of September 30, 2025, compared to $23.6 million at the end of 2024[15] Technology and Product Development - Cyngn develops autonomous vehicle technology aimed at addressing labor shortages and safety incidents in industrial organizations[24] - DriveMod technology allows seamless integration of self-driving capabilities without high upfront costs or infrastructure requirements[25] - The DriveMod Tugger can haul up to 12,000 lbs with a typical payback period of less than 2 years[26] - DriveMod Forklift is designed for heavy loads using non-standard pallets and is currently available to select customers[26] Compliance and Reporting - The company is pursuing SOC 2 Type II and ISO 27001 certifications as part of a broader cybersecurity and compliance initiative[7] - The company filed its annual report on Form 10-K/A with the SEC on November 14, 2025, detailing risk factors and forward-looking statements[27]

Core Insights - Cyngn Inc. reported operational progress for Q3 2025, focusing on long-term strategy and commercial growth, extending its financial runway through 2027 [2][6] - The company appointed Natalie Russell as Chief Financial Officer to enhance financial leadership and operational discipline [2][8] - Cyngn's sales organization has expanded to its largest size in history, improving pipeline generation and lead quality [3][4] Financial Performance - Year-to-date revenue for Q3 2025 reached $150.9 thousand, a significant increase from $61.8 thousand in Q3 2024, primarily from EAS software subscriptions [7] - Total costs and expenses for the year-to-date third quarter were $19.2 million, an increase of 11% from $17.3 million in Q3 2024, driven by higher general and administrative costs [8][12] - The net loss for Q3 2025 was $(17.8) million, compared to $(17.2) million in Q3 2024, with a net loss per share of $(5.20) [10][13] Operational Developments - Cyngn deployed the DriveMod Tugger at Coats and G&J Pepsi, marking significant advancements in commercial readiness and live industrial implementation [4][8] - The company secured its 23rd U.S. patent for a modular sensor architecture, enhancing its intellectual property portfolio [5][8] - Cyngn is pursuing SOC 2 Type II and ISO 27001 certifications in partnership with Drata to meet enterprise security and data governance requirements [5][8] Balance Sheet Highlights - As of September 30, 2025, Cyngn's unrestricted cash and short-term investments totaled $34.9 million, up from $23.6 million at the end of 2024 [14] - The company had no debt and total stockholders' equity of $38.7 million, compared to $(1) million at the end of 2024 [14][18]

Core Insights - Cyngn is making significant strides in the industrial automation sector through successful deployments of its DriveMod Tugger with major clients like Coats, U.S. Continental, and G&J Pepsi [1][2][3] Company Developments - The DriveMod Tugger has been praised for its versatility and reliability, with customers reporting substantial operational improvements [2][3] - Cyngn's CEO, Lior Tal, emphasizes the company's commitment to reshaping industries through autonomous technology and delivering scalable solutions [2] Customer Success Stories - G&J Pepsi has integrated the DriveMod Tugger into its 77,000 sq. ft. facility to address labor challenges and meet future demands [3] - U.S. Continental has reduced manual forklift trips by approximately 200 per week, achieving a 4x increase in operational efficiency since deploying the DriveMod Tugger [4][5] - Coats has unlocked over 500 labor hours by automating the transportation of components across its 150,000+ sq. ft. facility, enhancing efficiency and reducing costs [6][7] Product Features - The DriveMod Tugger can haul up to 12,000 lbs and targets a typical payback period of less than 2 years, making it a cost-effective solution for industrial operations [11]

Core Insights - Cyngn's DriveMod Tugger has been successfully deployed at U.S. Continental, enhancing the efficiency of pallet transportation within their 100,000-square-foot facility [1][2][3] - The implementation of the autonomous technology has led to a fourfold increase in operational efficiency, allowing U.S. Continental to reduce manual labor significantly [3][4] - The DriveMod Tugger can autonomously transport goods both indoors and outdoors, providing flexibility in material handling [3][4] Company Overview - Cyngn specializes in developing and deploying autonomous vehicle technology aimed at addressing challenges faced by industrial organizations, such as labor shortages and safety incidents [6] - The DriveMod technology allows customers to integrate self-driving capabilities without incurring high upfront costs or requiring extensive infrastructure [7] - The DriveMod Tugger can haul up to 12,000 lbs and typically achieves a payback period of less than two years [8]

Core Viewpoint - Cyngn is focused on advancing its mission to deliver autonomous driving solutions for industrial and commercial applications, emphasizing strategic initiatives to accelerate growth and create long-term shareholder value [1][8]. Group 1: Business Progress and Growth Strategy - Over the past year, Cyngn has made significant progress in strengthening its core business, with technology showing potential to transform industries reliant on heavy equipment and logistics [2]. - The company is adding two new pillars to its growth strategy: strengthening the balance sheet through strategic asset acquisitions and exploring mergers or acquisitions with revenue-generating companies [2][5]. - The strategy includes assessing opportunities in digital assets, such as cryptocurrencies or blockchain-based instruments, to diversify and enhance returns [2][3]. Group 2: Asset Acquisition and Mergers - Cyngn is evaluating real estate assets for long-term value and stability, aiming to acquire or partner on properties that align with operational needs and growth initiatives [4][5]. - The company is actively exploring mergers or acquisitions with companies that complement its existing solutions, particularly in automation, robotics, and data-driven logistics [5][8]. - These initiatives are designed to accelerate revenue growth, expand the customer base, and enhance technology offerings, thereby deepening market position [5][6]. Group 3: Financial Strategy and Capital Raising - To support its asset acquisition strategy and potential investments, Cyngn has filed a shelf registration statement on Form S-3, allowing for flexible capital raising aligned with long-term growth objectives [7]. - The management team is committed to executing the growth strategy with discipline and transparency, ensuring alignment with investor interests [6][7]. Group 4: Technology and Product Offerings - Cyngn develops autonomous vehicle technology aimed at addressing challenges in industrial organizations, such as labor shortages and safety incidents [9]. - The DriveMod technology enables customers to implement self-driving technology without high upfront costs, currently available on specific models like Motrec MT-160 Tuggers and BYD Forklifts [10][11].

Core Insights - Cyngn has been granted a total of 23 U.S. patents, with 13 additional patents awarded since August 2023, highlighting the company's commitment to advancing autonomous vehicle technology [1][3]. Group 1: Patent Details - The newly granted patent, numbered 12,332,083, pertains to a Modular Sensor System for Automated Guided Vehicles, which can be integrated with existing industrial machines with minimal modifications [2][4]. - Cyngn's patent portfolio includes various technologies aimed at enhancing autonomous vehicle capabilities, such as adaptive decision-making systems and large-scale validation methods [4][9]. Group 2: Company Overview - Cyngn specializes in developing and deploying autonomous vehicle technology tailored for industrial organizations, addressing challenges like labor shortages and safety incidents [5]. - The company's DriveMod technology allows for the integration of self-driving capabilities into existing operations without significant upfront costs or infrastructure changes [6]. Group 3: Product Specifications - The DriveMod Tugger can haul loads up to 12,000 lbs and is designed for a payback period of less than 2 years, while the DriveMod Forklift is capable of lifting heavy loads using non-standard pallets [7].

Core Viewpoint - Cyngn Inc. has announced the promotion of Natalie Russell to Chief Financial Officer (CFO), highlighting her extensive experience and expertise in accounting and financial processes as crucial for the company's growth strategy in the autonomous vehicle sector [1][2][3]. Group 1: Leadership Announcement - Natalie Russell has been promoted to CFO of Cyngn, effective immediately [1][2]. - Russell joined Cyngn in March 2023 as Director of Accounting and previously worked as a Technical Accounting Manager at SOAProjects, Inc. [2]. - She has a background in audit and assurance from Ernst & Young and is a Certified Public Accountant in California [1]. Group 2: Company Overview - Cyngn develops and deploys autonomous vehicle technology aimed at industrial organizations, addressing challenges such as labor shortages and safety incidents [4]. - The company's DriveMod technology allows customers to integrate self-driving technology into their operations with minimal upfront costs [5]. Group 3: Product Details - DriveMod Tugger can haul up to 12,000 lbs and has a typical payback period of less than 2 years [6]. - DriveMod Forklift is designed for heavy loads using non-standard pallets and is currently available to select customers [6].