share_log

Cyngn | 8-K: Cyngn Reports Third Quarter 2024 Financial Results

Cyngn | 8-K: Cyngn Reports Third Quarter 2024 Financial Results

Cyngn | 8-K:Cyngn 公佈 2024 年第三季度財務業績
美股SEC公告 ·  2024/11/07 19:09

Moomoo AI 已提取核心訊息

Cyngn announced Q3 2024 financial results with revenue of $47.6K, up from $25.2K YoY. The company reported a net loss of $5.4M, slightly improved from $5.5M in Q3 2023. Total costs remained stable at $5.6M, with reduced R&D and G&A expenses offset by increased cost of revenue due to more customer deployments.The quarter marked significant commercial progress, including the first paid DriveMod Forklift deployment and new contracts with major automotive and defense contractors. The company expanded its sales channels through Motrec dealers and system integrators, hired a new VP of Sales, and secured its 20th and 21st U.S. patents.As of September 30, 2024, Cyngn maintained $2.8M in cash and short-term investments, down from $8.2M at 2023 year-end. Working capital stood at $2.6M with total stockholders' equity of $6.65M. The company remains debt-free, with management maintaining their full stock positions.
Cyngn announced Q3 2024 financial results with revenue of $47.6K, up from $25.2K YoY. The company reported a net loss of $5.4M, slightly improved from $5.5M in Q3 2023. Total costs remained stable at $5.6M, with reduced R&D and G&A expenses offset by increased cost of revenue due to more customer deployments.The quarter marked significant commercial progress, including the first paid DriveMod Forklift deployment and new contracts with major automotive and defense contractors. The company expanded its sales channels through Motrec dealers and system integrators, hired a new VP of Sales, and secured its 20th and 21st U.S. patents.As of September 30, 2024, Cyngn maintained $2.8M in cash and short-term investments, down from $8.2M at 2023 year-end. Working capital stood at $2.6M with total stockholders' equity of $6.65M. The company remains debt-free, with management maintaining their full stock positions.
Cyngn宣佈了2024年第三季度的財務結果,營業收入爲4.76萬美元,同比上升自2.52萬美元。該公司報告淨虧損爲540萬美元,略微改善自2023年第三季度的550萬美元。總成本保持在560萬美元不變,研發和一般管理費用減少,但由於客戶部署增加,營業收入成本上升。這一季度標誌着顯著的商業進展,包括首次付費DriveMod叉車部署以及與主要汽車和軍工股承包商的新合同。該公司通過Motrec經銷商和系統集成商拓展銷售渠道,聘請了一位新的銷售副總裁,並獲得第20和第21項美國專利。截至2024年9月30日,Cyngn的現金和短期投資爲280萬美元,低於2023年年末的820萬美元。流動資金爲260萬美元,總股東權益爲665萬美元。公司保持無債務,管理層維持其完整的股票頭寸。
Cyngn宣佈了2024年第三季度的財務結果,營業收入爲4.76萬美元,同比上升自2.52萬美元。該公司報告淨虧損爲540萬美元,略微改善自2023年第三季度的550萬美元。總成本保持在560萬美元不變,研發和一般管理費用減少,但由於客戶部署增加,營業收入成本上升。這一季度標誌着顯著的商業進展,包括首次付費DriveMod叉車部署以及與主要汽車和軍工股承包商的新合同。該公司通過Motrec經銷商和系統集成商拓展銷售渠道,聘請了一位新的銷售副總裁,並獲得第20和第21項美國專利。截至2024年9月30日,Cyngn的現金和短期投資爲280萬美元,低於2023年年末的820萬美元。流動資金爲260萬美元,總股東權益爲665萬美元。公司保持無債務,管理層維持其完整的股票頭寸。
声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息