Cyngn Q2 2024 revenue drops to $8.7K; net loss $5.8M; cash $7.0M

Cyngn Inc.

2024-Q2 EPS reported -$12.15 revenue$14,179

Revenue $8.7K vs $550.9K YoY; shift from NRE contracts to EAS subscriptions.
Net loss $5.8M ($4.11 EPS) vs $6.4M ($12.97 EPS) YoY; costs down $1.2M.
Cash and short-term investments $7.0M; no debt; working capital $6.1M.
Joined John Deere supply base; expanded dealer network with Alta Equipment Group.
Sold 256,500 shares for $1.8M after quarter-end; pro-forma cash $8.8M.

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