Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Viewpoint - Cyngn Inc. has announced a registered direct offering of approximately $15.0 million in shares of Common Stock and pre-funded warrants at a price of $5.01 per share, aimed at raising capital for general corporate purposes and working capital [1][3]. Group 1: Offering Details - The offering includes the sale of 2,994,012 shares of Common Stock or Pre-Funded Warrants, with the public offering price set at $5.01 per share [2]. - The Pre-Funded Warrants are immediately exercisable and can be exercised at any time until fully exercised, with a minimal exercise price of $0.00001 [2]. - The transaction is expected to close on or about June 27, 2025, pending customary closing conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes and working capital [3]. Group 3: Company Background - Cyngn develops and deploys autonomous vehicle technology tailored for industrial organizations, addressing challenges such as labor shortages and safety incidents [8]. - The company's DriveMod technology allows customers to integrate self-driving technology into their operations without significant upfront costs or infrastructure changes [9]. - DriveMod products include the Tugger, which can haul up to 12,000 lbs, and the Forklift, designed for non-standard pallets, with a typical payback period of less than 2 years [10].

Core Insights - Cyngn has been recognized for its innovative use of NVIDIA Isaac technologies to enhance autonomy in real-world industrial environments [1][2] - The collaboration with NVIDIA aims to provide significant return on investment (ROI) for industrial operators through advanced autonomous vehicle solutions [2] Company Overview - Cyngn specializes in developing and deploying autonomous vehicle technology tailored for industrial sectors, addressing challenges like labor shortages and safety incidents [3] - The company's DriveMod technology allows for the integration of self-driving capabilities without substantial upfront costs or extensive infrastructure [4] Product Details - Cyngn's DriveMod Tugger can haul loads up to 12,000 lbs and is designed for a payback period of less than 2 years [5] - The DriveMod Forklift is capable of lifting heavy loads using non-standard pallets and is currently available to select customers [5]

Core Viewpoint - Cyngn has launched the Cyngn Dealer Portal to support its expanding dealer network, providing resources to enhance sales efficiency and accelerate the adoption of its autonomous solutions [1][3][5] Group 1: Dealer Portal Features - The Dealer Portal offers access to sales materials, pricing information, and co-marketing resources, enabling dealers to present Cyngn's autonomous solutions effectively [1][4] - The portal includes training materials and technical documentation to assist dealers in engaging new customers and pursuing opportunities in industrial autonomy [4] Group 2: Strategic Importance - The launch of the Dealer Portal is a significant step in scaling Cyngn's Dealer Network, which includes partnerships with key dealers and service providers in the industrial vehicle sector [5] - These partnerships are crucial for expanding Cyngn's market reach and facilitating the implementation of autonomous vehicle solutions across various industries [5][7] Group 3: Product Offerings - Cyngn's DriveMod technology allows customers to integrate self-driving technology into their operations without high upfront costs or extensive infrastructure [8] - The DriveMod Tugger can haul up to 12,000 lbs and has a typical payback period of less than 2 years, while the DriveMod Forklift is designed for heavy loads using non-standard pallets [9]

Core Viewpoint - Cyngn Inc. has received a notice of allowance for its 23rd U.S. patent related to its autonomous vehicle solutions, specifically a modular sensor system designed for industrial applications [1][2][4]. Patent Details - The newly allowed patent focuses on a modular sensor system that can be integrated with existing industrial machines with minimal modifications, enhancing adaptability across various machine geometries and operational constraints [3]. - This patent adds to Cyngn's growing intellectual property portfolio, which now includes a total of 22 granted patents, reflecting the company's commitment to research and development in autonomous vehicle technology [4]. Company Positioning - Cyngn's CEO emphasized that the expanding patent portfolio reinforces the company's position as a technology leader in the autonomous vehicle sector, highlighting the importance of innovation and intellectual property protection for long-term differentiation [4]. - The company has been actively securing patents in key areas such as perception, navigation, and mapping, which are critical for advancing its DriveMod solution [4]. DriveMod Technology - Cyngn's DriveMod technology allows customers to implement self-driving capabilities in their operations without incurring high upfront costs or needing extensive infrastructure changes [9]. - The DriveMod Tugger can haul up to 12,000 lbs and aims for a payback period of less than two years, while the DriveMod Forklift is designed for handling non-standard pallets and is currently available to select customers [10]. Industry Context - Cyngn targets significant challenges faced by industrial organizations, such as labor shortages and safety incidents, by providing innovative autonomous vehicle solutions [8].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number: 001-40932 CYNGN INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

Financial Performance - Q1 2025 revenue was $47.2 thousand, a significant increase from $5.5 thousand in Q1 2024, primarily from EAS software subscriptions[11] - Total costs and expenses decreased by $710 thousand or 11.8% to $5.3 million in Q1 2025, down from $6.0 million in Q1 2024[12] - Net loss for Q1 2025 was $(7.6) million, compared to $(6.0) million in Q1 2024, with a net loss per share of $(6.60) based on approximately 1.2 million shares outstanding[13] Cash and Investments - Cyngn's unrestricted cash and short-term investments totaled $16.3 million as of March 31, 2025, down from $23.6 million at the end of 2024[14] - Cyngn's total stockholders' equity increased to $22.1 million as of March 31, 2025, compared to $11.6 million at the end of 2024[14] Research and Development - The company experienced a $1 million decrease in R&D expenses, primarily due to capitalizing costs for specific customers and software development[12] Business Development - Cyngn secured approximately $308k in new bookings for DriveMod vehicles from direct sales during Q1 2025[2] - Cyngn has conducted DriveMod deployments with five major automotive OEMs and Tier-1 suppliers across the U.S. and Mexico, indicating strong momentum in the automotive sector[5] - The company expanded into new verticals, with DriveMod vehicles now used in manufacturing, CPG, logistics, and defense environments[6] Innovation and Patents - Cyngn received its 22nd U.S. patent for AI-powered autonomous vehicle technologies, reinforcing its innovation in the sector[2]

Core Insights - Cyngn Inc. reported strong commercial momentum in Q1 2025, with significant customer wins in the automotive sector and expansion into new verticals, indicating a growing demand for its autonomous vehicle technology [3][5][6]. Financial Performance - Q1 2025 revenue was $47.2 thousand, a substantial increase from $5.5 thousand in Q1 2024, primarily driven by EAS software subscriptions from DriveMod vehicle deployments [7]. - Total costs and expenses decreased to $5.3 million, down 11.8% from $6.0 million in Q1 2024, attributed to lower deployment costs and reduced R&D expenses [8]. - The net loss for Q1 2025 was $(7.6) million, compared to $(6.0) million in the same quarter of 2024, with a net loss per share of $(6.60) based on approximately 1.2 million shares outstanding [10]. Operational Highlights - Cyngn achieved successful DriveMod deployments with five major automotive OEMs and Tier-1 suppliers across the U.S. and Mexico, marking a significant milestone in the automotive sector [9]. - The company secured its 22nd U.S. patent for AI-powered autonomous vehicle technologies, reinforcing its innovation capabilities [9]. - Cyngn's unrestricted cash and short-term investments totaled $16.3 million as of March 31, 2025, down from $23.6 million at the end of 2024, with no debt reported [11]. Strategic Initiatives - The company invested in its sales team to enhance fleet-scale deployments and appointed industry veteran Marty Petraitis as VP of Sales to align its Go-To-Market strategy with target companies [5][6]. - Cyngn's DriveMod technology is being utilized across various industries, including manufacturing, consumer packaged goods (CPG), logistics, and defense, highlighting its scalability and adaptability [5][6].

Core Viewpoint - Cyngn, Inc. is set to announce its fiscal first quarter 2025 financial results on May 7, 2025, after market close, and will not host an earnings call [1] Company Overview - Cyngn develops scalable autonomous vehicle technology aimed at enhancing productivity and efficiency for industrial organizations [2] - The company addresses challenges such as labor shortages, costly safety incidents, and rising consumer demand for eCommerce [2] Product Offerings - Cyngn's DriveMod Kit allows for the installation of self-driving technology on new industrial vehicles or retrofitting existing ones, minimizing upfront costs [3] - The Enterprise Autonomy Suite includes: - DriveMod (autonomous vehicle system) - Cyngn Insight (AV fleet management and analytics tools) - Cyngn Evolve (internal toolkit for AI, simulation, and modeling) [4]

Core Viewpoint - Cyngn has been granted its 22nd U.S. patent, enhancing its position in the autonomous vehicle industry and reflecting its commitment to innovation in AI-powered AV technologies [1][4]. Patent Details - The newly granted patent, titled "System and Methods of Off-Board Centric Autonomous Driving Computation," introduces a cloud-based approach that reduces onboard hardware requirements by distributing computing tasks between the vehicle and the cloud [2][13]. - This patent allows vehicles to transmit sensor data to cloud servers for processing tasks such as environment mapping, decision-making, and route planning, which are then sent back to the vehicle for execution [2][13]. Significance of the Patent - The patent enables the development of lighter and more cost-effective autonomous vehicles while supporting sophisticated driving algorithms [3][14]. - It also includes fleet management functionality, allowing for the coordination of multiple autonomous vehicles through a centralized cloud infrastructure [3][14]. Company Strategy - Cyngn's CEO emphasized that the recent patent grants reflect the company's dedication to advancing autonomous technology and building a robust patent portfolio to protect its intellectual property [4]. - The company aims to provide customers with a seamless way to adopt self-driving technology without incurring high upfront costs [5][9]. Product Offerings - Cyngn's flagship product, the Enterprise Autonomy Suite, includes the DriveMod (autonomous vehicle system), Cyngn Insight (AV fleet management tools), and Cyngn Evolve (internal toolkit for leveraging field data) [10].