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Cyngn | 10-Q: Q3 2024 Earnings Report

Cyngn | 10-Q: Q3 2024 Earnings Report

Cyngn | 10-Q：2024财年三季报
美股SEC公告 ·  11/07 14:08

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Cyngn Inc. reported its financial performance for the quarter ended September 30, 2024, with revenue at $47,584, a decrease from the previous year's quarter. Operating loss widened to $5,508,202, and net loss totaled $5,427,399, or $2.74 per share. The company's cash position decreased to $1,974,441, with short-term investments at $812,750. Research and development expenses slightly decreased to $2.8 million, while general and administrative expenses also saw a minor reduction to $2.6 million. Cyngn's business development included the continued advancement of its Enterprise Autonomy Suite (EAS), targeting industrial vehicle automation. The company's future plans involve increasing revenue through new customer acquisitions and expanding its EAS subscriptions. Cyngn's capital raising activities included a public offering, generating $5.2 million in gross proceeds, and an at-the-market equity financing agreement, which provided net proceeds of $8.6 million. The company also implemented a 1-for-100 reverse stock split to comply with NASDAQ's minimum bid price requirement.
Cyngn Inc. reported its financial performance for the quarter ended September 30, 2024, with revenue at $47,584, a decrease from the previous year's quarter. Operating loss widened to $5,508,202, and net loss totaled $5,427,399, or $2.74 per share. The company's cash position decreased to $1,974,441, with short-term investments at $812,750. Research and development expenses slightly decreased to $2.8 million, while general and administrative expenses also saw a minor reduction to $2.6 million. Cyngn's business development included the continued advancement of its Enterprise Autonomy Suite (EAS), targeting industrial vehicle automation. The company's future plans involve increasing revenue through new customer acquisitions and expanding its EAS subscriptions. Cyngn's capital raising activities included a public offering, generating $5.2 million in gross proceeds, and an at-the-market equity financing agreement, which provided net proceeds of $8.6 million. The company also implemented a 1-for-100 reverse stock split to comply with NASDAQ's minimum bid price requirement.
Cyngn公司报告了截至2024年9月30日的季度财务表现，营业收入为47,584美元，与上一年同期相比有所下降。营业亏损扩大至5,508,202美元，净亏损总计5,427,399美元，每股2.74美元。公司的现金位置下降至1,974,441美元，短期投资为812,750美元。研发费用略有下降至280万美元，而一般和行政费用也有较小的降低至260万美元。Cyngn的业务发展包括继续推进其企业自主套件（EAS），针对工业车辆自动化。公司未来计划包括通过新客户获取增加营业收入，并扩大其EAS订阅。Cyngn的资本筹集活动包括一项公开发行，募集了520万美元的总收入，以及一项按市场价股权融资协议，提供净收益860万美元。该公司还实施了1比100的股票逆向拆分，以符合纳斯达克的最低买盘价格要求。
Cyngn公司报告了截至2024年9月30日的季度财务表现，营业收入为47,584美元，与上一年同期相比有所下降。营业亏损扩大至5,508,202美元，净亏损总计5,427,399美元，每股2.74美元。公司的现金位置下降至1,974,441美元，短期投资为812,750美元。研发费用略有下降至280万美元，而一般和行政费用也有较小的降低至260万美元。Cyngn的业务发展包括继续推进其企业自主套件（EAS），针对工业车辆自动化。公司未来计划包括通过新客户获取增加营业收入，并扩大其EAS订阅。Cyngn的资本筹集活动包括一项公开发行，募集了520万美元的总收入，以及一项按市场价股权融资协议，提供净收益860万美元。该公司还实施了1比100的股票逆向拆分，以符合纳斯达克的最低买盘价格要求。
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