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Cyngn | 10-Q: Q2 2024 Earnings Report

Cyngn | 10-Q: Q2 2024 Earnings Report

Cyngn | 10-Q：2024财年二季报
美股SEC公告 ·  08/08 16:55

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Cyngn Inc., an autonomous vehicle technology company, reported financial results for the quarter ended June 30, 2024. The company recognized revenue of $8,665, primarily from Enterprise Autonomy Suite (EAS) subscriptions and hardware sales, compared to $550,952 in the same period of the previous year. Cost of revenue was $14,922, mainly due to deployment costs. Research and development expenses decreased by 14.4% to $3.2 million, attributed to the capitalization of software costs. General and administrative expenses also saw a decrease of 8.4% to $2.6 million. The company experienced a net loss of $5,818,952, with a basic and diluted net loss per share of $4.11. Cyngn's liquidity position included $5.9 million in cash and $1.1 million in short-term investments. The company's future plans involve enhancing its operating cash flow, obtaining capital financing, and executing its business plan to increase revenue and control operating costs. Cyngn aims to expand its customer base and deploy its EAS to a wider range of industrial uses, with scaled deployments expected to begin towards the end of 2024.
Cyngn Inc., an autonomous vehicle technology company, reported financial results for the quarter ended June 30, 2024. The company recognized revenue of $8,665, primarily from Enterprise Autonomy Suite (EAS) subscriptions and hardware sales, compared to $550,952 in the same period of the previous year. Cost of revenue was $14,922, mainly due to deployment costs. Research and development expenses decreased by 14.4% to $3.2 million, attributed to the capitalization of software costs. General and administrative expenses also saw a decrease of 8.4% to $2.6 million. The company experienced a net loss of $5,818,952, with a basic and diluted net loss per share of $4.11. Cyngn's liquidity position included $5.9 million in cash and $1.1 million in short-term investments. The company's future plans involve enhancing its operating cash flow, obtaining capital financing, and executing its business plan to increase revenue and control operating costs. Cyngn aims to expand its customer base and deploy its EAS to a wider range of industrial uses, with scaled deployments expected to begin towards the end of 2024.
自动驾驶技术公司Cyngn Inc.发布了2024年6月30日结束的财务业绩报告。该公司主要通过企业自动化套件（EAS）的订阅和硬件销售获得8,665美元的营业收入，而上年同期收入为550,952美元。收入成本为14,922美元，主要是因为部署成本。研发费用减少了14.4%，为320万美元，归因于软件成本的资本化。一般和管理费用也减少了8.4%，为260万美元。公司净亏损5,818,952美元，基本和稀释每股净亏损为4.11美元。Cyngn的流动性包括现金590万美元和短期投资110万美元。该公司的未来计划涉及增强经营性现金流、获得资本融资，并执行业务计划以增加营业收入和控制运营成本。Cyngn旨在扩大客户群体，并将其EAS部署到更广泛的工业应用中，预计在2024年底开始扩大部署范围。
自动驾驶技术公司Cyngn Inc.发布了2024年6月30日结束的财务业绩报告。该公司主要通过企业自动化套件（EAS）的订阅和硬件销售获得8,665美元的营业收入，而上年同期收入为550,952美元。收入成本为14,922美元，主要是因为部署成本。研发费用减少了14.4%，为320万美元，归因于软件成本的资本化。一般和管理费用也减少了8.4%，为260万美元。公司净亏损5,818,952美元，基本和稀释每股净亏损为4.11美元。Cyngn的流动性包括现金590万美元和短期投资110万美元。该公司的未来计划涉及增强经营性现金流、获得资本融资，并执行业务计划以增加营业收入和控制运营成本。Cyngn旨在扩大客户群体，并将其EAS部署到更广泛的工业应用中，预计在2024年底开始扩大部署范围。
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