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Cyngn | 10-Q: Q1 2024 Earnings Report

Cyngn | 10-Q: Q1 2024 Earnings Report

Cyngn | 10-Q：2024財年一季報
美股SEC公告 ·  05/10 04:44

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Cyngn Inc., an autonomous vehicle technology company, reported its financial results for the first quarter ended March 31, 2024. The company recognized revenue of $5,513, primarily from Enterprise Autonomy Suite (EAS) subscriptions and hardware sales. Cost of revenue was $113,776, mainly due to deployment costs. Research and development expenses increased slightly to $3.1 million, reflecting higher personnel costs and stock-based compensation. General and administrative expenses decreased to $2.7 million, attributed to lower personnel costs and professional fees. Interest income decreased to $1,327, and other income dropped to a loss of $5,047 due to an impairment charge on expired patents. The company's liquidity position included $2.2 million in cash and $2.6 million in short-term investments. Cyngn Inc. is actively seeking to enhance its operating cash flow and secure additional funding to support its operations and growth strategy. The company's future plans involve expanding its engineering and R&D team, increasing research and development costs, and targeting scaled deployments of its EAS technology in the second half of 2024.
Cyngn Inc., an autonomous vehicle technology company, reported its financial results for the first quarter ended March 31, 2024. The company recognized revenue of $5,513, primarily from Enterprise Autonomy Suite (EAS) subscriptions and hardware sales. Cost of revenue was $113,776, mainly due to deployment costs. Research and development expenses increased slightly to $3.1 million, reflecting higher personnel costs and stock-based compensation. General and administrative expenses decreased to $2.7 million, attributed to lower personnel costs and professional fees. Interest income decreased to $1,327, and other income dropped to a loss of $5,047 due to an impairment charge on expired patents. The company's liquidity position included $2.2 million in cash and $2.6 million in short-term investments. Cyngn Inc. is actively seeking to enhance its operating cash flow and secure additional funding to support its operations and growth strategy. The company's future plans involve expanding its engineering and R&D team, increasing research and development costs, and targeting scaled deployments of its EAS technology in the second half of 2024.
自動駕駛科技公司Cyngn Inc.公佈了截至2024年3月31日的第一季度業績。該公司主要通過Enterprise Autonomy Suite (EAS)訂閱和硬件銷售獲得了5513萬美元的營業收入。成本費用爲113776萬美元，主要是由於部署成本的增加。研發費用略微上升到310萬美元，反映出人員成本和股票補償的增加。總行政費用降低至270萬美元，歸因於較低的人員成本和專業費用。利息收入下降至1327美元，其他收入因過期專利而減少了5047美元的損失。該公司的流動性狀況包括220萬美元的現金和260萬美元的短期投資。Cyngn Inc.正在積極尋求增強其經營現金流和獲得額外資金以支持其業務和增長策略。該公司未來計劃包括擴大其工程和研發團隊、增加研發成本，並在2024年下半年針對其EAS技術的規模化部署。
自動駕駛科技公司Cyngn Inc.公佈了截至2024年3月31日的第一季度業績。該公司主要通過Enterprise Autonomy Suite (EAS)訂閱和硬件銷售獲得了5513萬美元的營業收入。成本費用爲113776萬美元，主要是由於部署成本的增加。研發費用略微上升到310萬美元，反映出人員成本和股票補償的增加。總行政費用降低至270萬美元，歸因於較低的人員成本和專業費用。利息收入下降至1327美元，其他收入因過期專利而減少了5047美元的損失。該公司的流動性狀況包括220萬美元的現金和260萬美元的短期投資。Cyngn Inc.正在積極尋求增強其經營現金流和獲得額外資金以支持其業務和增長策略。該公司未來計劃包括擴大其工程和研發團隊、增加研發成本，並在2024年下半年針對其EAS技術的規模化部署。
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