Cyngn Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated revenue of $33,726 for the three months ended June 30, 2025, a substantial increase from $8,665 in the same period last year. For the first half of 2025, revenue reached $80,878, compared to $14,179 for the first half of 2024. Despite this growth in revenue, Cyngn continued to experience net losses, reporting a net loss of $5,448,312 for the second quarter and $13,041,154 for the first half of 2025, compared to losses of $5,818,952 and $11,789,031, respectively, in the prior year.
The company’s financial position improved significantly, with total assets increasing to $56.2 million as of June 30, 2025, up from $30.1 million at the end of 2024. This growth was primarily driven by an increase in cash and short-term investments, which rose to $39.2 million from $23.6 million. Cyngn's total liabilities decreased to $9.4 million, down from $18.5 million, largely due to the reclassification of warrant liabilities to equity following a reverse stock split and the exercise of Series B warrants.
Operationally, Cyngn has made strides in its product offerings, particularly with its Enterprise Autonomy Suite (EAS), which is designed for industrial applications of autonomous vehicles. The company has begun licensing EAS commercially and has reported successful pilot deployments. As of June 30, 2025, Cyngn had 7,039,266 shares of common stock outstanding, a significant increase from 199,110 shares at the end of 2024, following a reverse stock split aimed at meeting Nasdaq listing requirements.
Looking ahead, Cyngn's management expressed optimism about future growth, emphasizing plans to scale deployments of its EAS technology and expand its customer base. The company aims to leverage strategic partnerships and enhance its product offerings to drive revenue growth. However, it also acknowledged the ongoing need to manage operating costs and secure additional financing to support its operations and development activities. The company’s liquidity position, bolstered by recent capital raises, is expected to support its operational needs for the next 12 months.
About Cyngn Inc.
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