CYN

Company streamlines organization, expands AI-enabled operations and strengthens commercial execution Recent Operating Highlights: Streamlined the organization and reduced management layers as part of a broader initiative to lower operating costs, increase accountability, and improve execution. Expanded the use of AI-assisted tools across engineering and business operations to automate repeatable work, accelerate workflows, and increase productivity. Implemented changes to sales leadership and commercial processes, increasing emphasis on opportunity qualification, pipeline accountability, and customers aligned with the DriveMod Tugger. Continued aligning product development with the requirements of larger industrial customers, including interoperability, enterprise deployment capabilities, and greater customer control over autonomous vehicle workflows. MOUNTAIN VIEW, Calif., Aug. 12, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) today announced financial results for its second quarter ended June 30, 2026 and outlined a series of organizational and commercial initiatives designed to improve operating efficiency, sharpen execution, and position the company for scalable growth. During the quarter, Cyngn continued to see interest in its autonomous vehicle solutions; however, the pace of commercial execution was delayed relative to the Company's expectations. In response, Cyngn made changes to sales leadership and implemented a more disciplined commercial process focused on opportunity qualification, pipeline accountability, sales execution, and customers and applications that closely align with the capabilities and value proposition of the DriveMod Autonomous Tugger. Cyngn also took steps to reduce its operating cost structure and simplify the organization. The Company consolidated responsibilities, reduced management layers, and realigned resources around its highest-priority product, customer, and commercial initiatives. These actions are intended to create a leaner organization with greater accountability, faster decision-making, and a higher proportion of resources directly focused on product development, customer deployments, and revenue generation. These initiatives are consistent with a broader shift taking place across the technology sector as companies increasingly redesign their organizations around smaller teams, flatter management structures, and AI-enabled productivity. Several of the world's largest technology and financial services companies have announced organizational restructuring or workforce reductions during 2026 while increasing their focus on operating efficiency, AI adoption, and concentrating resources on higher-priority growth opportunities. As part of this evolution, Cyngn has expanded the use of AI-assisted tools across engineering and business operations. The Company is using these technologies to automate repeatable tasks, accelerate software development and analysis, improve internal workflows, and enable employees to operate more efficiently. Cyngn believes these tools can allow a leaner organization to maintain or improve output while directing a greater portion of its resources toward differentiated technology and commercial execution. On the product side, Cyngn continues to concentrate development on capabilities required for broader enterprise adoption of autonomous industrial vehicles. This includes interoperability with customer systems, enterprise deployment and fleet-management requirements, and capabilities that provide customers with greater flexibility and control over autonomous workflows. The Company believes this increasingly focused product strategy, together with a more efficient operating structure and disciplined commercial organization, strengthens Cyngn's ability to convert customer interest into scalable deployments faster and at a larger scale. As part of its ongoing commitment to strong corporate governance, Cyngn engaged Baker Tilly US, LLP, a top-ten U.S. accounting firm, as its independent registered public accounting firm, and Kaufman & Canoles, P.C., a leading business law firm, as outside legal counsel, positioning the Company's financial reporting and legal infrastructure to support its continued growth. The Federal Communications Commission added new imports of foreign-made humanoid and quadruped robots to its national security Covered List. Cyngn believes this shift in the regulatory landscape reflects a broader effort to strengthen domestic industrial robotics capabilities and reduce reliance on foreign-made autonomous technology. This regulatory shift specifically limits the ability of Chinese manufacturers to sell autonomous robotic products into the U.S. market. As a U.S.-based developer and manufacturer of autonomous industrial vehicles, Cyngn is well positioned to serve customers seeking domestically developed automation solutions amid this evolving policy environment. Q2 2026 Six Month Financial Review: Year-to-date second quarter revenue was $249 thousand compared to $80.9 thousand in the six months ended June 30, 2025. Similar to prior year, year-to-date 2026 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses for the six months ended June 30, 2026 were $13.9 million, an increase of $3.1 million or 29% from $10.8 million for the six months ended June 30, 2025. This increase was due to a $2.0 million increase in research and development (R&D), primarily due to personnel costs driven by the change in accounting estimate related to capitalized software. In addition, the company experienced a $1.1 million increase in general and administrative (G&A) expenses, primarily driven by an increase in board of director's pay in lieu of the equity component of the director compensation program for 2025 and an increase in marketing and advertising expenses. There was an increase of $117.6 thousand in cost of revenue due to the deployment costs being recognized over the life of the awarded contracts. For the six months ended June 30, 2026, other income (expense), net was $0.9 million compared to $1.4 million for the six months ended June 30, 2025. The decrease in other income was primarily driven by the fair value measurement of warrants issued in the first quarter of 2025. Net loss for the six months ended June 30, 2026 was $(12.8) million compared to $(9.4) million in the six months ended June 30, 2025. Net loss per share for the six-month period was $(1.02), based on basic and diluted weighted average shares outstanding of approximately 12.6 million. This compares to a net loss per share of $(5.90) for the six months ended June 30, 2025, based on approximately 1.6 million basic and diluted weighted average shares outstanding. Q2 2026 Three Month Financial Review: Revenue in Q2 2026 was $144.5 thousand compared to $33.7 thousand in the second quarter of 2025. Similar to prior year, second quarter of 2026 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the second quarter were $6.9 million, an increase of $1.4 million or 25% from $5.5 million in the second quarter of 2025. This increase was due to a $1.2 million increase in research and development (R&D), primarily due to personnel costs driven by the change in accounting estimate related to capitalized software. In addition, there was an increase of $72 thousand in cost of revenue due to the deployment costs being recognized over the life of the awarded contracts. General and administrative (G&A) expenses remained consistent year over year. For the second quarter of 2026, other income (expense), net was $0.4 million compared to $0.05 million in the second quarter of 2025. The increase in other income was primarily driven by income from short-term investments. Net loss for the second quarter was $(6.4) million compared to $(5.4) million in the corresponding quarter of 2025. Second quarter net loss per share was $(0.45), based on basic and diluted weighted average shares outstanding of approximately 14.1 million in the quarter. This compares to a net loss per share of $(2.70) in the second quarter of 2025, based on approximately 2.0 million basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of June 30, 2026 totaled $39.7 million compared to $34.7 million as of December 31, 2025. At the end of the same period, working capital was $41.3 million and total stockholders' equity was $44.6 million, as compared to year-end working capital of $35.7 million and total stockholders' equity of $38.8 million, respectively as of December 31, 2025. The Company had no debt as of June 30, 2026 and December 31, 2025 and to date, no member of the current management team has sold any shares of the Company's stock. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. Investor Contact:Natalie [email protected] Media Contact:Luke RennerHead of [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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MOUNTAIN VIEW, Calif., Aug. 5, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) will announce its second quarter 2026 financial results for the period ended June 30, 2026, on Wednesday, August 12, 2026, after the close of market. The financial results will be available on the Cyngn website under "News & Events" at https://investors.cyngn.com/. The Company will not host an earnings call. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. Investor Contact:Natalie [email protected] Media Contact:Luke RennerHead of [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-second-quarter-2026-financial-results-302844138.html

Recent Operating Highlights: Reported record expansion activity among enterprise customers, including additional autonomous vehicle deployments at existing customer sites. Expanded deployment activity across manufacturing, logistics, and agriculture environments, including new deployments at Vann Family Orchards and a WEG electric motor manufacturing facility. Continued investment in enterprise fleet management capabilities, including on-prem deployment options designed to support larger fleet operations and complex customer environments. Demonstrated accelerating operational utilization across customer sites, with Q1 2026 autonomous missions completed increasing more than 127% year-over-year and autonomous driving time increasing more than 60%. Expanded its intellectual property portfolio with the issuance of its 24th U.S. patent. Strengthened strategic relationships through continued collaboration with NVIDIA Isaac Sim. Closed $9.65 million registered direct offering, extending the company's runway until 2028. MOUNTAIN VIEW, Calif., May 13, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) announced continued commercial and operational progress during the first quarter of 2026, reflecting growing enterprise adoption of its autonomous vehicle solutions and increasing deployment scale across customer environments. During the quarter, Cyngn continued deepening its footprint within existing enterprise accounts, expanding autonomous vehicle deployments across additional routes, workflows, and facilities while enhancing the platform capabilities required to support larger fleet operations. Initial single-route deployments are increasingly evolving into broader automation initiatives spanning additional workflows, facilities, and vehicles. This expansion dynamic was reflected in customer utilization metrics during the quarter. Across deployed environments, autonomous missions completed increased more than 127% year-over-year during Q1 2026, while autonomous driving time increased more than 60%. These gains reflect increasing operational adoption as customer sites transition autonomous vehicles into fuller production use. Cyngn also continued expanding its commercial footprint across multiple industrial sectors. During the quarter, the company announced deployments at Vann Family Orchards and a WEG electric motor manufacturing facility, further extending the reach of its DriveMod Tugger platform across manufacturing, agriculture, and industrial material handling environments. Alongside deployment growth, Cyngn continued investing in enterprise capabilities designed to support larger-scale customer opportunities. The company expanded development efforts around fleet management, operational scalability, and on-prem deployment configurations, enabling customers to deploy autonomous vehicle systems within more complex operational and IT environments. Cyngn also strengthened its technology and intellectual property position during the quarter. The company was awarded its 24th U.S. patent and continued collaboration efforts involving NVIDIA Isaac Sim, supporting simulation, validation, and development workflows for autonomous vehicle deployments. In March, Cyngn completed a $9.65 million registered direct offering, providing additional liquidity to support ongoing operations and growth initiatives, extending its runway to 2028. The company believes these developments position Cyngn to pursue larger enterprise opportunities while deepening expansion within its existing customer base. Q1 2026 Three Month Financial Review: Revenue in Q1 2026 was $105 thousand compared to $47 thousand in the first quarter of 2025. Similar to prior year, first quarter of 2026 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the first quarter were $7.1 million, an increase of $1.8 million or 34% from $5.3 million in the first quarter of 2025. This increase was due to a $1.0 million increase in general and administrative (G&A) expenses, primarily driven by an increase in board of director's pay in lieu of the equity component of the director compensation program for 2025 and an increase in marketing and advertising expenses. In addition, the company experienced a $0.8 million increase in research and development (R&D), primarily due to the change in accounting estimate related to capitalized software. There was an increase of $46 thousand in cost of revenue due to the deployment costs being recognized over the life of the awarded contracts. For the first quarter of 2026, other income (expense), net was $0.5 million compared to $1.3 million in the first quarter of 2025. The decrease in other income was primarily driven by the fair value measurement of warrants issued in the first quarter of 2025. Net loss for the first quarter was $(6.5) million compared to $(3.9) million in the corresponding quarter of 2025. First quarter net loss per share was $(0.59), based on basic and diluted weighted average shares outstanding of approximately 11 million in the quarter. This compares to a net loss per share of $(3.40) in the first quarter of 2025, based on approximately 1.2 million basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of March 31, 2026 totaled $44.4 million compared to $34.7 million as of December 31, 2025. At the end of the same period, working capital was $45.8 million and total stockholders' equity was $50.6 million, as compared to year-end working capital of $34.4 million and total stockholders' equity of $38.8 million, respectively as of December 31, 2025. The Company had no debt as of March 31, 2026 and December 31, 2025 and to date, no member of the current management team has sold any shares of the Company's stock. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. Investor Contact: Natalie Russell CFO [email protected] Media Contact: Luke Renner Head of Marketing [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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MOUNTAIN VIEW, Calif., May 6, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) will announce its first quarter 2026 financial results for the period ended March 31, 2026, on Wednesday, May 13, 2026, after the close of market. The financial results will be available on the Cyngn website under "News & Events" at https://investors.cyngn.com/. The Company will not host an earnings call. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. Investor Contact: Natalie Russell CFO [email protected] Media Contact: Luke Renner Head of Marketing [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-first-quarter-2026-financial-results-302763635.html

Recent Operating Highlights: Reported record expansion among existing enterprise and Fortune 100 customers and indicated that Q1 2026 sales are on track to exceed total 2025 bookings, reflecting accelerating commercial momentum. Cyngn tripled the number of bookings in 2025 compared to 2024. Announced commercial deployments at G&J Pepsi and Coats. Expanded into agriculture through partnership with Chandler Automation. Closed $9.65 million registered direct offering, extending the company's runway until 2028. MOUNTAIN VIEW, Calif., March 25, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) announced operational progress and commercial momentum entering 2026, reflecting continued expansion of its autonomous vehicle deployments, customer base, and strategic initiatives. In 2025, Cyngn made measurable progress across commercialization, deployment execution, and market expansion. The company tripled DriveMod Tugger bookings year-over-year, expanded deployments with customers including G&J Pepsi and Coats, and increased autonomous utilization as sites moved into fuller production use. Cyngn also expanded its market reach and ecosystem. In the fourth quarter, the company entered the agriculture sector through a partnership with Chandler Automation, extending its dealer network into food processing and packaging environments. This expansion reflects a broader strategy of targeting industries with high-frequency, repetitive material handling workflows. Across its installed base, Cyngn reported record expansion activity among enterprise and Fortune 100 customers. Deployments that began as single-route automation initiatives are increasingly scaling into multi-vehicle, multi-workflow implementations, reflecting validation of operational value and repeatability of the platform. This expansion dynamic contributed to accelerating commercial momentum, with the company indicating it is on track to generate more bookings in Q1 2026 than in all of 2025. Note: even as sales are on an upward trajectory, the company recognizes revenue when vehicles are deployed over the operational life of the vehicle. Already this year, there have been a number of developments. In January, the company strengthened its leadership and governance capabilities with the appointment of Ran Makavy to its Board of Directors. Makavy brings experience scaling growth and platform operations at Lyft and Facebook, aligning with Cyngn's focus on converting product capability into broader market adoption. In March, Cyngn completed a $9.65 million registered direct offering, providing additional liquidity to support ongoing operations and growth initiatives, extending its runway to 2028. The company also outlined new strategic pillars focused on mergers and acquisitions and asset-based balance sheet expansion, positioning Cyngn to pursue both organic and inorganic growth opportunities. With expanding deployments, increasing customer adoption, strengthened intellectual property, and additional capital flexibility, Cyngn enters 2026 focused on scaling its commercial footprint and advancing autonomous vehicle adoption across industrial environments. 2025 Financial Review: Revenue in 2025 was $219 thousand compared to $368 thousand in 2024. Similar to prior year, 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in 2025 were $25.9 million, an increase of $2.7 million or 11.6% from $23.2 million in 2024. This increase was due to a $1.9 million increase in general and administrative (G&A) expenses, primarily driven by an increase in personnel costs reflecting an investment in sales and executive bonuses, and a $1.2 million increase in research and development (R&D), primarily due to the change in accounting estimate related to capitalized software offset by the decrease in headcount. This was offset by a decrease of $0.4 million in cost of revenue due to the deployment costs being recognized over the life of the awarded contracts in 2025 versus the costs of initial deployment pilots immediately recognized in 2024. For 2025, other income (expense), net was $2.2 million compared to $(10.5) million in 2024. The increase in other income was primarily driven by the accounting for the warrants issued in 2024. Net loss for 2025 was $(23.5) million compared to $(33.3) million in 2024. The 2025 net loss per share was $(5.17), based on basic and diluted weighted average shares outstanding of approximately 4.5 million in the quarter. This compares to a net loss per share of $(2,521.41) in 2024, based on approximately 13.2 thousand basic and diluted weighted average shares outstanding. Q4 2025 Three Month Financial Review: Fourth quarter of 2025 revenue was $68.1 thousand compared to $306.4 thousand in the fourth quarter of 2024. Similar to prior year, fourth quarter 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the fourth quarter were $6.6 million, an increase of $1 million or 17% from $5.6 million in the fourth quarter of 2024. This increase was due to an increase of $1 million in R&D, as the company no longer reclassifies certain development costs to capitalized software following a change in accounting estimate. This is offset by a decrease of $57.7 thousand in G&A expenses, primarily due to spending improvements on general office expenses, and a decrease of $193.6 thousand in cost of revenue due to the deployment costs being recognized over the life of the won contracts in 2025 versus the costs of initial deployment pilots immediately recognized in 2024. For the fourth quarter of 2025, other income (expense), net was $883.7 thousand compared to $(10.6) million in the fourth quarter of 2024. The increase in income was primarily driven by the accounting for the warrants issued in 2024. Net loss for the fourth quarter was $(5.7) million compared to $(16.1) million in the corresponding quarter of 2024. Fourth quarter 2025 net loss per share was $(0.78), based on basic and diluted weighted average shares outstanding of approximately 7.2 million in the quarter. This compares to a net loss per share of $(672.21) in the fourth quarter of 2024, based on approximately 24 thousand basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of December 31, 2025 totaled $34.7 million compared to $23.6 million as of December 31, 2024. At the end of the same period, working capital was $35 million and total stockholders' equity was $38.8 million, as compared to year-end working capital of $22.1 million and total stockholders' equity of $(1) million, respectively as of December 31, 2024. The Company had no debt as of December 31, 2025 and December 31, 2024 and to date, no member of the current management team has sold any shares of the Company's stock. All information has been retroactively adjusted to reflect the 1-for-100 reverse stock split effected on July 3, 2024 and the 1-for-150 reverse stock split effected on February 18, 2025. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. Investor Contact: Natalie Russell CFO [email protected] Media Contact: Luke Renner Head of Marketing [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K/A filed with the SEC on November 14, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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MOUNTAIN VIEW, Calif., March 5, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) will announce its 2025 fourth quarter and year-end financial results for the period ended December 31, 2025, on Wednesday, March 25, 2026, after the close of market. The financial results will be available on the Cyngn website under "News & Events" at https://investors.cyngn.com/. The Company will not host an earnings call. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. Investor Contact: Natalie Russell CFO [email protected] Media Contact: Luke Renner Head of Marketing [email protected] Where to Find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K/A filed with the SEC on November 14, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-2025-fourth-quarter-and-year-end-financial-results-302704885.html

Recent Operating Highlights Deployed the DriveMod Tugger at G&J Pepsi, the Largest Independent Pepsi Bottler in the USA U.S. Continental "definitely recommends" the DriveMod Tugger. Secured funding that extends Cyngn's cash runway through 2027, reinforcing balance-sheet stability and capacity to scale operations. Appointed Natalie Russell as Chief Financial Officer to strengthen financial leadership and operational discipline. Expanded the sales organization to the largest in company history, reflecting a more mature commercial posture. Deployed the DriveMod Tugger at Coats, marking another live industrial implementation of Cyngn's autonomous vehicle technology. Secured Cyngn's 23rd U.S. patent, covering a modular sensor system designed for automated guided vehicles and autonomous industrial platforms. Engaged Drata to pursue SOC 2 Type II and ISO 27001 certifications as part of a broader cybersecurity and compliance initiative. MOUNTAIN VIEW, Calif., Nov. 18, 2025 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today reported operational progress for the third quarter ended September 30, 2025. In Q3, Cyngn continued executing against its long-term strategy while positioning the business for a more commercial phase of growth. The company extended its financial runway through 2027, providing the capital required to scale deployment efforts, strengthen core technologies, and support expanding customer engagements. To align financial execution with these objectives, Cyngn appointed Natalie Russell as Chief Financial Officer, adding leadership experience in capital allocation, financial planning, and operational controls. Commercial readiness advanced meaningfully during the quarter. Cyngn expanded its sales organization to the largest in its history and sharpened its go-to-market execution, resulting in material improvements in pipeline generation, meeting volume, and lead quality. These gains reflect a more disciplined focus on efficiency over volume in demand generation efforts. This maturation in commercial strategy was underscored by the deployment of a DriveMod Tugger at Coats and G&J Pepsi, where the system is now actively automating material transport in a live production environment. The company also reinforced its technology and compliance infrastructure. Cyngn secured its 23rd U.S. patent covering a modular sensor architecture adaptable to various industrial vehicles, further strengthening its intellectual property portfolio. In parallel, Cyngn partnered with Drata to pursue SOC 2 Type II and ISO 27001 certifications, an important step in meeting the security and data governance requirements of enterprise customers. With a fortified balance sheet, expanded commercial organization, and ongoing progress in technology and compliance, Cyngn enters the next phase of execution focused on scaling deployments and converting commercial momentum into long-term value creation. Q3 2025 Nine Month Financial Review: Year-to-date third quarter revenue was $150.9 thousand compared to $61.8 thousand in the third quarter of 2024. Similar to prior year, third quarter 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the year-to-date third quarter were $19.2 million, an increase of $1.9 million or 11% from $17.3 million in the third quarter of 2024. This increase was due to a $2 million increase in general and administrative (G&A), primarily due to an increase in personnel costs reflecting an investment in sales and executive bonuses, and a $0.1 million increase in research and development (R&D), primarily due to the change in accounting estimate related to capitalized software offset by the decrease in headcount. This is offset by a decrease of $0.2 million in cost of revenue due to the deployment costs being recognized over the life of the won contracts in 2025 versus the costs of initial deployment pilots immediately recognized in 2024. For the third quarter of 2025, other income (expense), net was $1.3 million compared to $70 thousand in the third quarter of 2024. The increase in other income was primarily driven by the $1.1 million fair value measurement of warrants. Net loss for the third quarter was $(17.8) million compared to $(17.2) million in the corresponding quarter of 2024. Third quarter 2025 net loss per share was $(5.20), based on basic and diluted weighted average shares outstanding of approximately 3.4 million in the quarter. This compares to a net loss per share of $(1,924.23) in the third quarter of 2024, based on approximately 8.9[1] thousand basic and diluted weighted average shares outstanding. Q3 2025 Three Month Financial Review: Third quarter revenue was $70 thousand compared to $47.6 thousand in the third quarter of 2024. Similar to prior year, third quarter 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the third quarter were $8.5 million, an increase of $2.9 million or 53% from $5.6 million in the third quarter of 2024. This increase was due to an increase of $2.5 million in R&D primarily driven by a change in accounting estimate of capitalized software development. In addition, the company experienced an increase of $578 thousand in G&A, primarily due to an increase in personnel costs reflecting an investment in sales and executive bonuses. This is offset by a decrease of $106 thousand in cost of revenue due to the deployment costs being recognized over the life of the won contracts in 2025 versus the costs of initial deployment pilots immediately recognized in 2024. For the third quarter of 2025, other income (expense), net was $(21.6) thousand compared to $80.8 thousand in the third quarter of 2024. The decrease in income was primarily driven by an increase in interest expense due to the office lease. Net loss for the third quarter was $(8.4) million compared to $(5.4) million in the corresponding quarter of 2024. Third quarter 2025 net loss per share was $(1.20), based on basic and diluted weighted average shares outstanding of approximately 7 million in the quarter. This compares to a net loss per share of $(408.30) in the third quarter of 2024, based on approximately 13.3[1] thousand basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of September 30, 2025 totaled $34.9 million compared to $23.6 million as of December 31, 2024. At the end of the same period, working capital was $35.1 million and total stockholders' equity was $38.7 million, as compared to year-end working capital of $22.1 million and total stockholders' equity of $(1) million, respectively as of December 31, 2024. The Company had no debt as of September 30, 2025 and December 31, 2024 and to date, no one on the current management team has sold any shares of Company stock. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K/A with the SEC filed on November 14, 2025. Investor Contact: Natalie Russell, CFO [email protected] Media Contact: Luke Renner, Head of Marketing [email protected] Where to find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the he Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K/A filed with the SEC on November 14, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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Recent Operating Highlights: Completed a $32 million capital raise to extend the runway through 2027. Relocated into new, expanded headquarters in Mountain View, California. Strengthened product development with NVIDIA Isaac Sim to accelerate innovation. Continued expansion of DriveMod deployments across multiple industries, including manufacturing, logistics, and CPG. Integrated generative AI and AI agents to enhance R&D velocity and customer engagement. Awarded 23rd U.S. patent, further building Cyngn's IP portfolio in autonomous vehicle technologies. MOUNTAIN VIEW, Calif., Aug. 6, 2025 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced financial results for the second quarter ended June 30, 2025. In Q2, Cyngn took critical steps to advance its long-term growth strategy. The company raised $32 million in capital, extending its cash runway through 2027 based on current projections, enabling accelerated investment in product development and go-to-market initiatives. Cyngn also expanded its footprint with a move into a new headquarters in Mountain View, CA. This larger facility features expanded testing infrastructure and customer showcase area designed to accelerate sales and support scaled deployments of DriveMod-enabled vehicles. "We've now deployed DriveMod vehicles across a range of industries including manufacturing, logistics, automotive, and consumer-packaged goods," said Lior Tal, CEO of Cyngn. "Our customers are using our autonomous tuggers to move materials around the clock, and the performance gains they're seeing continue to validate the need for scalable industrial automation." The company's technology roadmap progressed significantly in Q2 through a collaboration with NVIDIA. By leveraging Isaac Sim, Cyngn is rapidly iterating and validating AV features in simulation before real-world testing. These capabilities, combined with the adoption of generative AI across engineering and operations, are driving faster, more efficient development cycles. Cyngn also continued to build its portfolio of intellectual property, securing its 23rd U.S. patent. These developments highlight the company's sustained focus on delivering differentiated AV solutions that meet the needs of real-world industrial use cases. "Q2 was about laying the foundation for what comes next," said Tal. "We've strengthened our balance sheet, increased our operational capacity, and doubled down on the technologies that will allow us to scale with discipline and conviction. We're heads-down on execution." As is common with enterprise deployments of emerging technologies, Cyngn's sales cycles involve multiple stakeholders and rigorous evaluation processes. While some of the traction achieved in Q2 may not be immediately reflected in revenue, these engagements represent meaningful progress within our pipeline. The nature of industrial automation — combined with evolving macroeconomic conditions — means that commercial wins today often translate into deployment and revenue recognition in subsequent quarters. As these relationships deepen, Cyngn remains confident in its ability to convert pipeline momentum into long-term growth. As Cyngn moves into the second half of the year, it remains focused on scaling deployments and converting commercial momentum into long-term value creation. Q2 2025 Six Month Financial Review: Year-to-date second quarter revenue was $80.9 thousand compared to $14.2 thousand in the second quarter of 2024. Similar to prior year, second quarter 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the second quarter were $10.8 million, a decrease of $1 million or 8.3% from $11.8 million in the second quarter of 2024. This decrease was due to a decrease of $100 thousand in cost of revenue due to the deployment costs being recognized over the life of the won contracts in 2025 verse the costs of initial deployment pilots immediately recognized in 2024. In addition, the Company experienced a decrease of $2.3 million in R&D primarily driven by capitalizing costs for specific customers and capitalizing costs related to the development of software and a decrease in headcount. This is offset by a $1.4 million increase in G&A, primarily due to an increase in personnel costs reflecting an investment in sales and executive bonuses. For the second quarter of 2025, other income (expense), net was ($2.3) million compared to $(10.5) thousand in the second quarter of 2024. The increase in expense was primarily driven by the fair value measurement of $2.5 million for the warrant liability. Net loss for the second quarter was $(13.0) million compared to $(11.8) million in the corresponding quarter of 2024. Second quarter 2025 net loss per share was $(8.22), based on basic and diluted weighted average shares outstanding of approximately 1.6 million in the quarter. This compares to a net loss per share of $(1,522) in the second quarter of 2024, based on approximately 7.7[1] thousand basic and diluted weighted average shares outstanding. Q2 2025 Three Month Financial Review: Second quarter revenue was $33.7 thousand compared to $8.7 thousand in the second quarter of 2024. Similar to prior year, second quarter 2025 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments. Total costs and expenses in the second quarter were $5.5 million, a decrease of $0.3 million or 4.7% from $5.8 million in the second quarter of 2024. This decrease was due to a decrease of $1.2 million in R&D primarily driven by capitalizing costs for specific customers and capitalizing costs related to the development of software and a decrease in headcount. This is offset by an increase of $2 thousand in cost of revenue due to additional contracts in 2025 when compared to the same period in 2024. In addition, the Company experienced an increase of $1 million in G&A, primarily due to an increase in personnel costs reflecting an investment in sales and executive bonuses. For the second quarter of 2025, other income (expense), net was $41.5 thousand compared to $(6.7) thousand in the second quarter of 2024. The increase in income was primarily driven by investment income. Net loss for the second quarter was $(5.5) million compared to $(5.8) million in the corresponding quarter of 2024. Second quarter 2025 net loss per share was $(2.70), based on basic and diluted weighted average shares outstanding of approximately 2 million in the quarter. This compares to a net loss per share of $(610.85) in the second quarter of 2024, based on approximately 9.5[1] thousand basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of June 30, 2025 total $39.2 million compared to $23.6 million as of December 31, 2024. At the end of the same period, working capital was $40.6 million and total stockholders' equity was $46.7 million, as compared to year-end working capital of $22.1 million and total stockholders' equity of $11.6 million, respectively as of December 31, 2024. The Company had no debt as of June 30, 2025 and December 31, 2024 and to date, no one on the current management team has sold any shares of Company stock. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025. Investor Contact: Donald Alvarez, CFO [email protected] Media Contact: Luke Renner, Head of Marketing [email protected] Where to find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the he Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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MOUNTAIN VIEW, Calif., July 30, 2025 /PRNewswire/ -- Cyngn, Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) will announce its fiscal second quarter 2025 financial results for the period ended June 30, 2025, on Wednesday, August 6, 2025, after the close of market. The financial results will be available on the Cyngn website under "News & Events" at https://investors.cyngn.com/. The Company will not host an earnings call. About Cyngn Cyngn develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents. Cyngn's DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers and BYD Forklifts. The DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years. The DriveMod Forklift lifts heavy loads that use non-standard pallets and is currently available to select customers. For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025. Where to Find Cyngn Website: https://cyngn.com Twitter: http://twitter.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Investor Contact: Natalie Russell [email protected] Media Contact Luke Renner [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the he Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-second-quarter-2025-financial-results-302516624.html SOURCE Cyngn

Recent Operating Highlights: Continued momentum in the automotive sector, reaching a milestone of executing successful DriveMod Tugger deployments at various stages with five major automotive OEMs and Tier-1 suppliers across the U.S. and Mexico. Signed a contract to deploy a DriveMod Tugger at a global Fortune 500 automotive supplier. Secured its 22nd U.S. patent for AI-powered autonomous vehicle technologies. Cyngn received approximately $308k of new bookings for DriveMod vehicles from direct sales during Q1 2025. MENLO PARK, Calif., May 7, 2025 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today announced financial results for its first quarter, which ended March 31, 2025. Cyngn entered 2025 with strong commercial momentum and a growing pipeline of autonomous tugger and forklift deployments. In Q1, the company announced several high‐profile customer wins across industries. These deals demonstrate further penetration into the automotive sector as well as the applicability of its autonomous industrial haulers to other manufacturing and distribution use cases. In the automotive manufacturing sector, Cyngn continued to make notable inroads. The company has now conducted DriveMod deployments with five major OEMs and Tier‑1 suppliers across the U.S. and Mexico. Beyond automotive, Cyngn expanded into new verticals in Q1. DriveMod vehicles have now been used in manufacturing, CPG, logistics and defense environments. "The strong demand we're seeing across different industries highlights the widespread need for our DriveMod technology," said Cyngn CEO Lior Tal. These multi‑industry deployments validate the scalability and adaptability of Cyngn's AV solutions, reinforcing the industry's growing appetite for automation. In addition to regaining Nasdaq compliance in Q1, Cyngn also invested in its sales team to accelerate fleet‐scale deployments. This investment comes on the heels of expanding its management ranks with the hiring of industry veteran Marty Petraitis as VP of Sales in Q4 2024. "Cyngn is poised for growth as demonstrated by getting into a cadence of booking new business for DriveMod Tuggers quarter-over-quarter. We have aligned our Go-To-Market strategy with target companies where our Autonomous Vehicles show a demonstrable business payback," said Petraitis. Overall, the first quarter's achievements – from new contract wins to technological milestones – provide strong market validation of Cyngn's strategy. Management remains confident that this cross‑sector commercial traction and an expanding pipeline will translate into revenue growth in the quarters ahead, as Cyngn continues executing on its roadmap to scale autonomous material handling solutions. Q1 2025 Financial Review: First quarter revenue was $47.2 thousand compared to $5.5 thousand in the first quarter of 2024. Similar to prior year, first quarter 2025 revenue consisted of EAS software subscriptions from DriveMod Stockchaser vehicle deployments. Total costs and expenses in the first quarter were $5.3 million, a decrease of $710 thousand or 11.8% from $6.0 million in the first quarter of 2024. This decrease was due to a decrease of $102 thousand in cost of revenue due to the deployment costs being recognized over the life of the won contracts in 2025 vs the costs of initial deployment pilots immediately recognized in 2024. In addition, the Company experienced a decrease of $1 million in R&D primarily driven by capitalizing costs for specific customers and capitalizing costs related to the development of software and a decrease in headcount. This is offset by a $440 thousand increase in G&A, primarily due to an increase in personnel costs reflecting an investment in sales and executive bonuses. For the first quarter 2025, other income (expense), net was $2.4 million compared to $(3.7) thousand in the first quarter of 2024. The increase in income was primarily driven by the fair value measurement of $2.5 million for the warrant liability. Net loss for the first quarter was $(7.6) million compared to $(6.0) million in the corresponding quarter of 2024. First quarter 2025 net loss per share was $(6.60), based on basic and diluted weighted average shares outstanding of approximately 1.2 million in the quarter. This compares to a net loss per share of $(422.87)[1] in the first quarter of 2024, based on approximately 14 thousand basic and diluted weighted average shares outstanding. Balance Sheet Highlights: Cyngn's unrestricted cash and short-term investments as of March 31, 2025 total $16.3 million compared to $23.6 million as of December 31, 2024.  At the end of the same period, working capital was $16.5 million and total stockholders' equity was $22.1 million, as compared to year-end working capital of $22.1 million and total stockholders' equity of $11.6 million, respectively as of December 31, 2024.  The Company had no debt as of March 31, 2025 and December 31, 2024 and to date, no one on the current management team has sold any shares of Company stock. About Cyngn Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce. Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments. Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling). For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025. Investor Contact:Donald Alvarez, [email protected] Media Contact:Luke Renner, Head of [email protected] Where to find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.         View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-reports-2025-first-quarter-financial-results-302449012.html SOURCE Cyngn

MENLO PARK, Calif., April 30, 2025 /PRNewswire/ -- Cyngn, Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) will announce its fiscal first quarter 2025 financial results for the period ended March 31, 2025, on Wednesday, May 7, 2025, after the close of market. The financial results will be available on the Cyngn website under "News & Events" at https://investors.cyngn.com/.  The Company will not host an earnings call. About Cyngn Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce. Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments. Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling). For all terms referenced within, please refer to the Company's annual report on Form 10-K with the SEC filed on March 6, 2025. Where to find Cyngn: Website: https://cyngn.com X: https://x.com/cyngn LinkedIn: https://www.linkedin.com/company/cyngn YouTube: https://www.youtube.com/@cyngnhq Investor Contact:Donald Alvarez, [email protected]   Media Contact:Luke Renner, Head of [email protected]   Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 6, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-first-quarter-2025-financial-results-302436587.html SOURCE Cyngn