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Cyngn | 10-Q: Q3 2024 Earnings Report

Cyngn | 10-Q: Q3 2024 Earnings Report

Cyngn | 10-Q：2024財年三季報
美股SEC公告 ·  11/08 06:08

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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公司報告了截至2024年9月30日的季度財務表現，營業收入爲47,584美元，與上一年同期相比有所下降。營業虧損擴大至5,508,202美元，淨虧損總計5,427,399美元，每股2.74美元。公司的現金位置下降至1,974,441美元，短期投資爲812,750美元。研發費用略有下降至280萬美元，而一般和行政費用也有較小的降低至260萬美元。Cyngn的業務發展包括繼續推進其企業自主套件（EAS），針對工業車輛自動化。公司未來計劃包括通過新客戶獲取增加營業收入，並擴大其EAS訂閱。Cyngn的資本籌集活動包括一項公開發行，募集了520萬美元的總收入，以及一項按市場價股權融資協議，提供淨收益860萬美元。該公司還實施了1比100的股票逆向拆分，以符合納斯達克的最低買盤價格要求。
Cyngn公司報告了截至2024年9月30日的季度財務表現，營業收入爲47,584美元，與上一年同期相比有所下降。營業虧損擴大至5,508,202美元，淨虧損總計5,427,399美元，每股2.74美元。公司的現金位置下降至1,974,441美元，短期投資爲812,750美元。研發費用略有下降至280萬美元，而一般和行政費用也有較小的降低至260萬美元。Cyngn的業務發展包括繼續推進其企業自主套件（EAS），針對工業車輛自動化。公司未來計劃包括通過新客戶獲取增加營業收入，並擴大其EAS訂閱。Cyngn的資本籌集活動包括一項公開發行，募集了520萬美元的總收入，以及一項按市場價股權融資協議，提供淨收益860萬美元。該公司還實施了1比100的股票逆向拆分，以符合納斯達克的最低買盤價格要求。
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