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Cyngn Announces Date for Third Quarter 2024 Financial Results and Withdrawal of Reg A Filing

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Cyngn (Nasdaq: CYN) has announced it will release its fiscal third quarter 2024 financial results on November 6, 2024, after market close. The results will cover the period ended September 30, 2024, and will be available on the company's investor website. Additionally, the company has withdrawn its Reg A filing that was originally submitted on August 15, 2024, despite receiving notification from the SEC that they had no further comments. The company will not host an earnings call for this quarter.

Cyngn (Nasdaq: CYN) ha annunciato che rilascerà i suoi risultati finanziari del terzo trimestre fiscale 2024 il 6 novembre 2024, dopo la chiusura del mercato. I risultati copriranno il periodo conclusosi il 30 settembre 2024 e saranno disponibili sul sito web per investitori dell'azienda. Inoltre, l'azienda ha ritirato il suo invio Reg A che era stato originariamente presentato il 15 agosto 2024, nonostante avesse ricevuto notifiche dalla SEC che non avevano ulteriori commenti. L'azienda non terà una chiamata sugli utili per questo trimestre.

Cyngn (Nasdaq: CYN) ha anunciado que publicará sus resultados financieros del tercer trimestre fiscal 2024 el 6 de noviembre de 2024, después del cierre del mercado. Los resultados cubrirán el período que finalizó el 30 de septiembre de 2024 y estarán disponibles en el sitio web para inversionistas de la empresa. Además, la empresa ha retirado su presentación Reg A que fue enviada originalmente el 15 de agosto de 2024, a pesar de haber recibido notificación de la SEC de que no tenían más comentarios. La empresa no llevará a cabo una llamada de ganancias para este trimestre.

Cyngn (Nasdaq: CYN)은 2024년 11월 6일, 시장이 폐장한 후 2024 회계년도 3분기 재무 실적을 발표할 것이라고 발표했습니다. 이 실적은 2024년 9월 30일 종료된 기간을 포함하며, 회사의 투자자 웹사이트에서 확인할 수 있습니다. 또한, 회사는 2024년 8월 15일에 원래 제출한 Reg A 신청서를 철회하였으며, SEC로부터 추가 의견이 없다는 통보를 받았습니다. 이번 분기에는 실적 발표 전화 회의를 진행하지 않을 예정입니다.

Cyngn (Nasdaq: CYN) a annoncé qu'il publiera ses résultats financiers du troisième trimestre fiscal 2024 le 6 novembre 2024, après la fermeture du marché. Les résultats couvriront la période se terminant le 30 septembre 2024 et seront disponibles sur le site web pour investisseurs de l'entreprise. De plus, l'entreprise a retiré son dépôt Reg A qui avait été initialement soumis le 15 août 2024, bien qu'elle ait reçu une notification de la SEC indiquant qu'il n'y avait pas d'autres commentaires. L'entreprise ne tiendra pas d'appel sur les bénéfices pour ce trimestre.

Cyngn (Nasdaq: CYN) hat angekündigt, dass am 6. November 2024, nach Marktschluss, die finanziellen Ergebnisse des dritten Quartals 2024 veröffentlicht werden. Die Ergebnisse umfassen den Zeitraum bis zum 30. September 2024 und werden auf der Investor-Website des Unternehmens verfügbar sein. Darüber hinaus hat das Unternehmen seinen Reg-A-Antrag, der ursprünglich am 15. August 2024 eingereicht wurde, zurückgezogen, obwohl es eine Mitteilung von der SEC erhalten hat, dass es keine weiteren Kommentare gab. Das Unternehmen wird für dieses Quartal keine Gewinnbesprechung abhalten.

Positive
  • None.
Negative
  • Withdrawal of Reg A filing could indicate changes in capital raising strategy
  • No earnings call scheduled, reducing transparency with investors

Insights

The withdrawal of the Regulation A filing, which would have allowed Cyngn to raise up to $75 million in capital through a simplified public offering process, signals a significant shift in the company's financing strategy. This decision, combined with the cancellation of the earnings call, raises concerns about transparency and could indicate underlying challenges. Regulation A offerings are typically used by smaller companies to raise capital with fewer regulatory burdens and the withdrawal suggests either a change in capital needs or potential alternative financing plans.

The lack of an earnings call removes an important channel for investor communication and limits the ability to gain deeper insights into the company's operational and financial performance. This reduced transparency may impact investor confidence and stock valuation in the near term.

Cyngn will announce its fiscal third quarter 2024 financial results for the period ended September 30, 2024, on Wednesday, November 6, 2024 and has withdrawn its Reg A Filing.

MENLO PARK, Calif., Oct. 30, 2024 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) will announce its fiscal third quarter 2024 financial results for the period ended September 30, 2024, on Wednesday, November 6, 2024, after the close of market.  In addition, the Company today announced that despite having been notified by the SEC that they had no further comments on the Reg A filing that was originally filed on August 15, 2024, the Company has submitted a letter to the SEC withdrawing the Reg A filing. 

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).

Find Cyngn on:   

Investor Contact:
Don Alvarez
investors@cyngn.com               

Media Contact:
Luke Renner
media@cyngn.com

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 SEC, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. 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.

Cautionary Note. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Cyngn is not responsible for the contents of third-party websites.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-announces-date-for-third-quarter-2024-financial-results-and-withdrawal-of-reg-a-filing-302290802.html

SOURCE Cyngn

FAQ

When will Cyngn (CYN) release Q3 2024 earnings?

Cyngn (CYN) will release its fiscal third quarter 2024 financial results on Wednesday, November 6, 2024, after market close.

Why did Cyngn (CYN) withdraw its Reg A filing in October 2024?

Cyngn withdrew its Reg A filing despite SEC having no further comments on the filing originally submitted on August 15, 2024. The specific reason for withdrawal was not disclosed.

Will Cyngn (CYN) host an earnings call for Q3 2024?

No, Cyngn has announced it will not host an earnings call for the third quarter 2024 results.

Cyngn Inc.

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