Cyngn Inc.

Listed Company

CYNCIK 0001874097NasdaqEmerging GrowthServices-Computer Programming ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$219.0K

Net Income

$-23.50M

Total Assets

$50.05M

Equity

$38.75M

Shares Out

13.61M

Op. Cash Flow

$-23.60M

Business

Cyngn Inc. is an autonomous vehicle technology company focused on delivering autonomy for industrial vehicles. It develops and integrates a full-stack autonomous driving software called DriveMod as part of its Enterprise Autonomy Suite, and provides Cyngn Insight and Cyngn Evolve tools for fleet management, analytics, simulation, and data optimization. Key business activities include DriveMod deployments, recurring EAS licensing/subscriptions, and DriveMod customization and NRE services delivered in collaboration with OEMs and integration partners. The company targets manufacturing, distribution, and other industrial markets globally through OEM partnerships, dealer and service networks, and direct sales with cloud or on-premise delivery options.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE	218,976	368,138	1	262,000	—
Cost of revenue	135,749	535,708	1	186,823	—
Research and development	12	11	13	9	5
General and administrative	13	11	11	10	4
TOTAL COSTS AND EXPENSES	26	23	25	20	9
LOSS FROM OPERATIONS	−26	−23	−23	−19	−9
Interest income (expense), net	197,429	−1	137,887	—	—
Warrant liability issuance costs	—	−2	—	—	—
Change in fair value of warrant liability	1	−5	—	—	—
Loss on issuance of warrants	—	−2	—	—	—
Other income (expense), net	884,862	53,117	396,825	—	—
TOTAL OTHER INCOME (EXPENSE), NET	2	−11	534,712	164,218	2
NET LOSS	−24	−33	−23	−19	−8
Net loss per share attributable to common stockholders, basic (in Dollars per share)	−5.17	−2,521	−6,529	−0.55	−1.33
Net loss per share attributable to common stockholders, diluted (in Dollars per share)	−5.17	−2,521	−6,529	−0.55	−1.33
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in Shares)	5	13,221	3,494	35	6
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in Shares)	5	13,221	3,494	35	6

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	990,023	24	4	11	22
Short-term investments	34	—	5	12	—
Accounts and other receivables	2	1	—	—	—
Inventory	2	200,000	—	—	—
Prepaid expenses and other current assets	2	592,090	1	1	525,304
TOTAL CURRENT ASSETS	40	26	9	24	23
Property and equipment, net	3	2	1	884,000	102,787
Right-of-use asset, net	6	297,918	992,292	371,189	—
Intangible assets, net	466,223	2	—	—	—
Security Deposit	518,584	—	—	—	—
TOTAL ASSETS	50	30	13	26	23
Accounts payable	217,439	247,778	196,963	155,943	112,271
Deferred revenue	2	769,180	—	—	—
Accrued expenses and other current liabilities	3	2	1	854,920	295,156
Current operating lease liability	312,365	317,344	682,718	376,622	—
TOTAL CURRENT LIABILITIES	5	3	2	1	407,427
Non-current operating lease liability	6	—	317,344	—	—
Warrant liability	—	28	—	—	170,397
TOTAL LIABILITIES	11	31	2	1	407,427
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, Par $0.00001; 400,000,000 and 200,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 7,974,380 and 199,110 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	80	2	648	337	265
Additional paid-in capital	256	192	—	—	—
Accumulated deficit	−217	−193	−160	−136	−116
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	39	−1	11	24	22
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	50	30	13	26	23

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	669,409	961,281	604,871	85,855
Stock-based compensation	2	2	3	3	1
Realized gain on short-term investments	−85,117	—	−443,392	—	—
Accretion on short-term investments	−776,163	−113,072	—	—	—
Loss on disposed assets	16,607	—	—	—	−31,355
Patent impairment	—	118,831	—	—	—
Change in estimate of capitalized software	1	—	—	—	—
Accretion of interest and amortization of debt issuance costs	—	1	—	—	—
Accounts and other receivables	−321,322	−452,006	—	—	—
Inventory	−2	−150,241	—	—	—
Prepaid expenses, operating lease right-of-use assets, and other current assets	−1	−44,035	−1	−1	−476,452
Accounts payable	−30,339	50,815	41,020	43,672	39,255
Deferred revenue	888,834	−667,680	—	—	—
Accrued expenses, lease liabilities, and other current liabilities	411,643	2	969,662	936,387	3,496
NET CASH USED IN OPERATING ACTIVITIES	−24	−19	−20	−16	−9
Purchase of property and equipment	−1	−1	−1	−918,318	—
Acquisition of intangible asset	−29,061	−954,229	−718,711	−456,822	—
Disposal of assets	—	265,940	180,898	—	—
Purchase of short-term investments	−87	−8	−22	—	—
Proceeds from maturity of short-term investments	55	12	30	—	—
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	−34	3	6	−13	−20,015
Proceeds from at-the-market equity financing, net of issuance costs	5	7	2	—	—
Proceeds from public issuance of common stock and pre-funded warrants and exercise of pre-funded warrants, net of issuance costs	30	14	—	—	—
Issuance costs from public issuance of common stock and pre-funded warrants and exercise of pre-funded warrants	−1,025	—	—	—	—
Proceeds from issuance of warrants	—	18	—	—	—
Proceeds from the Notes, net of issuance costs	—	2	—	—	—
Repayment of the Notes	—	−4	—	—	—
Issuance costs for stock dividend and restricted stock units	—	−597	—	—	—
NET CASH PROVIDED BY FINANCING ACTIVITIES	35	36	6	18	24
Net increase (decrease) in cash and cash equivalents	−23	20	−7	−11	16
Cash paid during the period for interest and taxes	—	—	—	10,131	16,719
Acquisition of right-of-use asset in exchange for new operating lease obligation	7	—	—	—	—
Acquisition of property and equipment included in accounts payable and accrued expenses	1,875	—	—	—	—

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