Cyngn reports FY2023 revenue $1.5M, up from $262K; net loss widens to $(22.8)M

Cyngn Inc.

FY2023 revenue $1.5M (vs $262K in 2022); net loss $(22.8)M ($(0.57)/share) vs $(19.2)M ($(0.55)/share).
Q4 revenue $40.4K (vs $262K in Q4 2022); net loss $(5.4)M ($(0.12)/share) vs $(5.5)M ($(0.15)/share).
Cash and short-term investments fell to $8.2M from $22.6M; no debt.
Closed $5.0M public offering of common stock; Nasdaq granted extension for continued listing.
U.S. Continental contract renewed with 4x efficiency gains; 19 U.S. patents granted.

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 0.9

Cyngn Inc. reported financial results for fourth quarter and fiscal year ended December 31, 2023.

Period: fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 6, 2024, Cyngn Inc. issued a press release announcing its financial results for its fourth fiscal quarter and fiscal year ended December 31, 2023.

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Cyngn Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-020442

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