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Cyngn | 10-Q: Q2 2024 Earnings Report

Cyngn | 10-Q: Q2 2024 Earnings Report

Cyngn | 10-Q：2024財年二季報
美股SEC公告 ·  08/08 15:55

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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.
自動駕駛技術公司Cyngn Inc.發佈了2024年6月30日結束的財務業績報告。該公司主要通過企業自動化套件（EAS）的訂閱和硬件銷售獲得8,665美元的營業收入，而上年同期收入爲550,952美元。收入成本爲14,922美元，主要是因爲部署成本。研發費用減少了14.4%，爲320萬美元，歸因於軟件成本的資本化。一般和管理費用也減少了8.4%，爲260萬美元。公司淨虧損5,818,952美元，基本和稀釋每股淨虧損爲4.11美元。Cyngn的流動性包括現金590萬美元和短期投資110萬美元。該公司的未來計劃涉及增強經營性現金流、獲得資本融資，並執行業務計劃以增加營業收入和控制運營成本。Cyngn旨在擴大客戶群體，並將其EAS部署到更廣泛的工業應用中，預計在2024年底開始擴大部署範圍。
自動駕駛技術公司Cyngn Inc.發佈了2024年6月30日結束的財務業績報告。該公司主要通過企業自動化套件（EAS）的訂閱和硬件銷售獲得8,665美元的營業收入，而上年同期收入爲550,952美元。收入成本爲14,922美元，主要是因爲部署成本。研發費用減少了14.4%，爲320萬美元，歸因於軟件成本的資本化。一般和管理費用也減少了8.4%，爲260萬美元。公司淨虧損5,818,952美元，基本和稀釋每股淨虧損爲4.11美元。Cyngn的流動性包括現金590萬美元和短期投資110萬美元。該公司的未來計劃涉及增強經營性現金流、獲得資本融資，並執行業務計劃以增加營業收入和控制運營成本。Cyngn旨在擴大客戶群體，並將其EAS部署到更廣泛的工業應用中，預計在2024年底開始擴大部署範圍。
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