UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $0.00001 CYN Nasdaq Stock Market LLC FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 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 numb ...

Core Insights - Cyngn reported a significant decrease in revenue for Q2 2024, totaling $8.7 thousand compared to $550.9 thousand in Q2 2023, primarily due to a shift from NRE contracts to EAS software subscriptions [6][8] - The company has made strides in expanding its sales channels and partnerships, particularly with established dealers and automation leaders, which is expected to enhance commercialization efforts [2][4] - Cyngn's financial health remains stable, with no debt and a clean balance sheet, positioning the company favorably for future growth [5][9] Financial Performance - Q2 2024 revenue was $8.7 thousand, a decrease from $550.9 thousand in Q2 2023, with year-to-date revenue at $14.2 thousand compared to $1.4 million in the same period last year [6][8] - Total costs and expenses in Q2 2024 were $5.8 million, down from $7.0 million in Q2 2023, driven by reductions in cost of revenue, G&A, and R&D expenses [6][8] - The net loss for Q2 2024 was $(5.8) million, an improvement from $(6.4) million in Q2 2023, with net loss per share decreasing from $(12.97) to $(4.11) [6][7] Balance Sheet Highlights - As of June 30, 2024, Cyngn's cash and short-term investments totaled $7.0 million, down from $8.2 million at the end of 2023, with working capital at $6.1 million [9][10] - The company had no debt and total stockholders' equity of $9.7 million as of June 30, 2024, compared to $10.6 million at the end of 2023 [9][10] Strategic Initiatives - Cyngn is focusing on expanding its dealer network to enhance commercial opportunities, having doubled the number of marketing-sourced leads while reducing acquisition costs by 67% [3][4] - The company is actively engaging with Fortune 500 brands and aims to demonstrate the reliability and safety of its autonomous vehicles through extensive testing at customer facilities [4][5]

MENLO PARK, Calif., July 22, 2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) (or the "Company") announced today that it has received a notice from Nasdaq confirming that the Company has regained compliance with the Nasdaq's Capital Market's minimum bid price requirement of $1.00 per share. The notice from Nasdaq indicates that the Company is in compliance with the Nasdaq Capital Market's listing requirements and the Company's common stock will continue to be listed and traded on Nasdaq. In addition to achievi ...

Alta Equipment Group joins Cyngn's Dealer NetworkAlta Equipment Group joins Cyngn's Dealer Network Cyngn plans to continue expanding its Dealer Network by adding more distribution and integration partners in the future. Media Contact: Luke Renner, Head of Marketing [email protected] SOURCE Cyngn This announcement follows two significant milestones for Cyngn: the launch of the DriveMod Tugger and the Cyngn Dealer Network in the fall of 2023. Cyngn has continued to grow its Dealer Network, including the recen ...

Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments. Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit ...

The Reverse Stock Split is expected to become effective at 5 p.m., Eastern Time, on July 3, 2024. Cyngn expects the Company's Common Stock will begin trading on a post-split basis at the market open on July 5, 2024, under the symbol "CYN" with the new CUSIP number 23257B 206. The primary objective of the Reverse Stock Split is to increase the per share market price of the Common Stock to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. Additional i ...

Cyngn Highlights Its Proprietary Computer Vision Advancements with NVIDIA Accelerated Computing Cyngn Highlights Its Proprietary Computer Vision Advancements with NVIDIA Accelerated Computing In collaboration with Arauco, which pre-ordered 100 DriveMod Forklifts last summer, Cyngn leveraged NVIDIA technologies to introduce sophisticated features to advance the capabilities of autonomous machines in industrial settings. The DriveMod Forklift showcases exciting capabilities in computer vision, including enume ...

While achieving the minimum bid price requirement organically is preferred, despite our best efforts, achievement of many commercial milestones and significant progress in 2024, to date, we have not been able to achieve this. Therefore, my recommendation to the Board of Directors and to you, the shareholders of Cyngn, is that we enable the option of the reverse stock split as a potential remedy for regaining the minimum bid compliance before the deadline. Voting to authorize this option is of vital importan ...

MENLO PARK, Calif., May 16, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) today shared several commercial and technological accomplishments from the first quarter of 2024, including valuable progress with renowned brands like John Deere and Rivian, the expansion of our distribution network, and key collaborations aimed at advancing our artificial intelligence and robotics technologies. As Cyngn progresses through 2024, the Company remains focused on scaling to capitalize on opport ...

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, 2024 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 ...