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Cyngn | 10-Q: Q1 2024 Earnings Report

Cyngn | 10-Q: Q1 2024 Earnings Report

Cyngn | 10-Q：2024财年一季报
美股sec公告 ·  05/09 16:44
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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.
自动驾驶科技公司Cyngn Inc.公布了截至2024年3月31日的第一季度财报。该公司主要通过Enterprise Autonomy Suite (EAS)订阅和硬件销售获得了5513万美元的营业收入。成本费用为113776万美元，主要是由于部署成本的增加。研发费用略微上升到310万美元，反映出人员成本和股票补偿的增加。总行政费用降低至270万美元，归因于较低的人员成本和专业费用。利息收入下降至1327美元，其他收入因过期专利而减少了5047美元的损失。该公司的流动性状况包括220万美元的现金和260万美元的短期投资。Cyngn Inc.正在积极寻求增强其经营现金流和获得额外资金以支持其业务和增长策略。该公司未来计划包括扩大其工程和研发团队、增加研发成本，并在2024年下半年针对其EAS技术的规模化部署。
自动驾驶科技公司Cyngn Inc.公布了截至2024年3月31日的第一季度财报。该公司主要通过Enterprise Autonomy Suite (EAS)订阅和硬件销售获得了5513万美元的营业收入。成本费用为113776万美元，主要是由于部署成本的增加。研发费用略微上升到310万美元，反映出人员成本和股票补偿的增加。总行政费用降低至270万美元，归因于较低的人员成本和专业费用。利息收入下降至1327美元，其他收入因过期专利而减少了5047美元的损失。该公司的流动性状况包括220万美元的现金和260万美元的短期投资。Cyngn Inc.正在积极寻求增强其经营现金流和获得额外资金以支持其业务和增长策略。该公司未来计划包括扩大其工程和研发团队、增加研发成本，并在2024年下半年针对其EAS技术的规模化部署。
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