Cyngn Q3 revenue $47.6k, net loss $(5.4M); first paid DriveMod Forklift deployment

Cyngn Inc.

2024-Q3 EPS reported -$12.91 revenue$61,762

Q3 revenue $47.6k (up from $25.2k YoY); net loss $(5.4M) vs $(5.5M) prior year.
Cash and equivalents $2.8M at Sep 30, down from $8.2M at Dec 31, 2023; no debt.
First paid DriveMod Forklift deployment; contract with major automotive equipment manufacturer.
Hired Marty Petraitis as VP of Sales; secured 20th and 21st U.S. patents; expanded DriveMod to outdoor operations.

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