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

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

Cyngn | 8-K:Cyngn 公布 2024 年第二季度财务业绩
美股SEC公告 ·  08/09 17:03

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On August 7, 2024, Cyngn Inc., a developer of industrial autonomous vehicles, reported its financial results for the second quarter ended June 30, 2024. The company announced a second-quarter revenue of $8.7 thousand, a significant decrease from $550.9 thousand in the same quarter of the previous year. The revenue for Q2 2024 primarily came from EAS software subscriptions from DriveMod Stockchaser vehicle deployments. Total costs and expenses were reduced to $5.8 million from $7.0 million in Q2 2023, with decreases across cost of revenue, general and administrative expenses, and research and development expenses. The net loss for the quarter was $(5.8) million, an improvement from a net loss of $(6.4) million in Q2 2023. Cyngn highlighted several operational achievements, including joining the John Deere supply base, partnering with RobotLAB, receiving notices of allowance for its...Show More
On August 7, 2024, Cyngn Inc., a developer of industrial autonomous vehicles, reported its financial results for the second quarter ended June 30, 2024. The company announced a second-quarter revenue of $8.7 thousand, a significant decrease from $550.9 thousand in the same quarter of the previous year. The revenue for Q2 2024 primarily came from EAS software subscriptions from DriveMod Stockchaser vehicle deployments. Total costs and expenses were reduced to $5.8 million from $7.0 million in Q2 2023, with decreases across cost of revenue, general and administrative expenses, and research and development expenses. The net loss for the quarter was $(5.8) million, an improvement from a net loss of $(6.4) million in Q2 2023. Cyngn highlighted several operational achievements, including joining the John Deere supply base, partnering with RobotLAB, receiving notices of allowance for its 20th and 21st U.S. patents, and expanding its dealer network. The company's CEO, Lior Tal, emphasized the healthy pipeline and progress with Fortune 500 companies. Cyngn's CFO, Don Alvarez, noted the company's clean balance sheet with no debt and compliance with Nasdaq's minimum bid price requirement. As of June 30, 2024, Cyngn had cash and short-term investments totaling $7.0 million.
2024年8月7日,工业自动驾驶车辆开发商Cyngn报告了其截至2024年6月30日第二季度的财务业绩。公司宣布第二季度的营业收入为8,700美元,较上一年同期的55,090美元大幅下降。Q2 2024的收入主要来自于DriveMod Stockchaser车辆部署的EAS软件订阅。总成本和费用从Q2 2023的700万美元降至580万美元,并在销售成本、一般行政费用和研发费用等方面有所降低。该季度的净亏损为(580)万美元,较Q2 2023的(640)万美元有所改善。Cyngn强调了几个运营成就,包括加入约翰迪尔供应基地、与RobotLab合作、获得其第20和21项美国专利授权,并扩大其经销...展开全部
2024年8月7日,工业自动驾驶车辆开发商Cyngn报告了其截至2024年6月30日第二季度的财务业绩。公司宣布第二季度的营业收入为8,700美元,较上一年同期的55,090美元大幅下降。Q2 2024的收入主要来自于DriveMod Stockchaser车辆部署的EAS软件订阅。总成本和费用从Q2 2023的700万美元降至580万美元,并在销售成本、一般行政费用和研发费用等方面有所降低。该季度的净亏损为(580)万美元,较Q2 2023的(640)万美元有所改善。Cyngn强调了几个运营成就,包括加入约翰迪尔供应基地、与RobotLab合作、获得其第20和21项美国专利授权,并扩大其经销商网络。公司CEO Lior Tal强调了与财富500强公司的良好业务渠道和进展。Cyngn的首席财务官Don Alvarez指出,该公司拥有干净的资产负债表,没有债务,并符合纳斯达克最低买盘要求。截至2024年6月30日,Cyngn拥有700万美元的现金和短期投资。
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