Cyngn Q2 revenue $0.6M vs zero YoY; net loss $6.4M, EPS -$0.19

Cyngn Inc.

2023-Q2 EPS reported -$0.36 revenue$1,423,752

Revenue of $0.6M from NRE contracts for forklift and heavy-vehicle autonomy; no revenue in Q2 2022.
Net loss $6.4M ($0.19/share) vs $4.6M ($0.15/share) a year ago; costs rose to $7.0M on higher headcount and marketing.
Unrestricted cash and short-term investments $12.1M; working capital $11.6M vs $22.4M at year-end 2022.
Pre-order for 100 autonomous DriveMod Forklifts from Arauco; new stockchaser deployment with Fortune 100 manufacturer.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cyngn Inc. reported fiscal second quarter ended June 30, 2023 results: revenue $0.6 million, net income $6.4 million, EPS $0.19.

Period: fiscal second quarter ended June 30, 2023
Revenue: $0.6 million
Net income: $6.4 million
EPS: $0.19
Result: reported results

Exact text from the filing

AUGUST 9, 2023) --- EX-99.1 2 ea183155ex99-1_cyngn.htm PRESS RELEASE DATED AUGUST 9, 2023 Exhibit 99.1 Cyngn Reports Second Quarter 2023 Financial Results Quarterly revenue of $0.6 million following successful achievement of milestones on autonomous vehicle development contracts MENLO PARK, Calif., August 9, 2023 — Cyngn Inc. (the “Company” or “Cyngn”) (NASDAQ:

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Source: SEC EDGAR

accession 0001213900-23-065019

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