Cyngn Q1 revenue plummets to $5.5k; net loss $6.0M; cash burns down to $4.8M

Cyngn Inc.

2024-Q1 EPS reported -$0.08 revenue$5,513

Q1 revenue of $5.5k (down from $872.8k YoY); net loss $6.0M vs $5.6M loss in Q1 2023.
Diluted EPS loss $0.08 (77.1M shares) vs $0.15 loss (37.7M shares) in Q1 2023.
Cash & short-term investments $4.8M (3/31/24) vs $8.2M (12/31/23); no debt.
Post-quarter $5.2M public offering raised net $4.6M; pro-forma cash $9.4M.
Operating milestones: joined John Deere supply base, initial Rivian deployment, RobotLAB distributor.

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 fiscal first quarter ended March 31, 2024 results: revenue $5.5 thousand, net income $(6.0) million, EPS $(0.08).

Period: fiscal first quarter ended March 31, 2024
Revenue: $5.5 thousand
Net income: $(6.0) million
EPS: $(0.08)
Result: reported results

Exact text from the filing

our customer acquisition costs and enables us to convert more customers to advanced sales discussions.” Q1 2024 Financial Review: ● First quarter revenue was $5.5 thousand compared to $872.8 thousand in the first quarter of 2023. First quarter 2024 revenue consisted of EAS software subscriptions from DriveMod Stock chaser vehicle deployments

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Source: SEC EDGAR

accession 0001213900-24-041342

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