Cyngn Reports Third Quarter 2025 Financial Results
Rhea-AI Summary
Cyngn (Nasdaq: CYN) reported Q3 2025 results and operational progress on Nov 18, 2025. YTD revenue through Q3 was $150.9K versus $61.8K a year earlier; Q3 revenue was $70.0K. The company said it secured funding that extends cash runway through 2027 and held $34.9M in unrestricted cash and short-term investments as of Sept 30, 2025. Cyngn reported a Q3 YTD net loss of $17.8M and a three-month net loss of $8.4M; basic and diluted weighted-average shares were ~3.4M YTD and ~7.0M for the quarter after recent equity financings.
Operational highlights included DriveMod Tugger deployments at G&J Pepsi and Coats, appointment of Natalie Russell as CFO, expanded sales organization, a 23rd U.S. patent, and steps toward SOC 2 Type II and ISO 27001 certification.
Positive
- YTD revenue +144% ($150.9K vs $61.8K)
- Unrestricted cash + short-term investments of $34.9M as of Sept 30, 2025
- Working capital of $35.1M and no debt as of Sept 30, 2025
- Live DriveMod Tugger deployments at G&J Pepsi and Coats
- Appointment of Natalie Russell as CFO and expanded sales organization
Negative
- Three-month operating expenses +53% ($8.49M vs $5.56M)
- Net loss for nine months $17.8M and Q3 net loss $8.4M
- Significant equity financings increased shares to ~7.04M, diluting prior holders
- Net cash used in operating activities $16.8M for nine months
News Market Reaction
On the day this news was published, CYN gained 4.62%, reflecting a moderate positive market reaction. Argus tracked a trough of -24.5% from its starting point during tracking. Our momentum scanner triggered 33 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $1M to the company's valuation, bringing the market cap to $29M at that time. Trading volume was elevated at 2.7x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
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.
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
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
Total costs and expenses in the year-to-date third quarter were
Net loss for the third quarter was
Q3 2025 Three Month Financial Review:
Third quarter revenue was
Total costs and expenses in the third quarter were
Net loss for the third quarter was
Balance Sheet Highlights:
Cyngn's unrestricted cash and short-term investments as of September 30, 2025 totaled
|
|
|
|
|
|
[1] 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. |
|||
|
CYNGN INC. AND SUBSIDIARIES |
||||||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||||
|
(Unaudited) |
||||||||||||||||
|
|
||||||||||||||||
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
REVENUE |
|
$ |
69,973 |
|
|
$ |
47,584 |
|
|
$ |
150,851 |
|
|
$ |
61,762 |
|
|
COSTS AND EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
|
50,816 |
|
|
|
157,251 |
|
|
|
79,574 |
|
|
|
285,949 |
|
|
Research and development |
|
|
5,254,953 |
|
|
|
2,795,583 |
|
|
|
9,331,987 |
|
|
|
9,149,357 |
|
|
General and administrative |
|
|
3,181,204 |
|
|
|
2,602,952 |
|
|
|
9,873,188 |
|
|
|
7,913,222 |
|
|
TOTAL COSTS AND EXPENSES |
|
|
8,486,973 |
|
|
|
5,555,786 |
|
|
|
19,284,749 |
|
|
|
17,348,528 |
|
|
LOSS FROM OPERATIONS |
|
|
(8,417,000) |
|
|
|
(5,508,202) |
|
|
|
(19,133,898) |
|
|
|
(17,286,766) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE), NET |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
|
(252,497) |
|
|
|
46,336 |
|
|
|
(375,670) |
|
|
|
45,994 |
|
|
Change in fair value of warrant liability |
|
|
‒ |
|
|
|
‒ |
|
|
|
1,136,677 |
|
|
|
‒ |
|
|
Other income (expense), net |
|
|
230,856 |
|
|
|
34,467 |
|
|
|
574,291 |
|
|
|
24,342 |
|
|
TOTAL OTHER INCOME (EXPENSE), NET |
|
|
(21,641) |
|
|
|
80,803 |
|
|
|
1,335,298 |
|
|
|
70,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET LOSS |
|
$ |
(8,438,641) |
|
|
$ |
(5,427,399) |
|
|
$ |
(17,798,600) |
|
|
$ |
(17,216,430) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share attributable to common stockholders, basic and |
|
$ |
(1.20) |
|
|
$ |
(408.30) |
|
|
$ |
(5.20) |
|
|
$ |
(1,924.23) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares used in computing net loss per share |
|
|
7,039,266 |
|
|
|
13,293 |
|
|
|
3,424,032 |
|
|
|
8,947 |
|
|
CYNGN INC. AND SUBSIDIARIES |
||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
|
||||||||
|
|
|
(Unaudited) |
|
|
|
|
||
|
|
|
September 30, |
|
|
December 31, |
|
||
|
|
|
2025 |
|
|
2024 |
|
||
|
ASSETS |
|
|
|
|
|
|
||
|
CURRENT ASSETS |
|
|
|
|
|
|
||
|
Cash |
|
$ |
4,820,464 |
|
|
$ |
23,617,733 |
|
|
Short-term investments |
|
|
30,054,492 |
|
|
|
– |
|
|
Prepaid expenses and other current assets |
|
|
4,205,419 |
|
|
|
1,965,222 |
|
|
TOTAL CURRENT ASSETS |
|
|
39,080,375 |
|
|
|
25,582,955 |
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
3,006,886 |
|
|
|
2,319,402 |
|
|
Right of use asset, net |
|
|
6,190,809 |
|
|
|
297,918 |
|
|
Intangible assets, net |
|
|
470,781 |
|
|
|
1,895,074 |
|
|
Security Deposit |
|
|
518,584 |
|
|
|
– |
|
|
TOTAL ASSETS |
|
$ |
49,267,435 |
|
|
$ |
30,095,349 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
360,416 |
|
|
$ |
247,778 |
|
|
Accrued expenses and other current liabilities |
|
|
3,514,449 |
|
|
|
2,874,216 |
|
|
Current operating lease liability |
|
|
36,966 |
|
|
|
317,344 |
|
|
TOTAL CURRENT LIABILITIES |
|
|
3,911,831 |
|
|
|
3,459,338 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-current operating lease liability |
|
|
6,676,231 |
|
|
|
– |
|
|
Warrant liability |
|
|
– |
|
|
|
27,703,927 |
|
|
TOTAL LIABILITIES |
|
|
10,588,062 |
|
|
|
31,143,265 |
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies (Note 12) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
Common stock, Par |
|
|
70 |
|
|
|
2 |
|
|
Additional paid-in capital |
|
|
249,831,101 |
|
|
|
192,305,280 |
|
|
Accumulated deficit |
|
|
(211,151,798) |
|
|
|
(193,353,198) |
|
|
TOTAL STOCKHOLDERS' EQUITY |
|
|
38,679,373 |
|
|
|
(1,047,916) |
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
|
$ |
49,267,435 |
|
|
$ |
30,095,349 |
|
|
CYNGN INC. AND SUBSIDIARIES |
||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
|
(Unaudited) |
||||||||
|
|
||||||||
|
|
|
Nine Months Ended |
|
|||||
|
|
|
2025 |
|
|
2024 |
|
||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
||
|
Net loss |
|
$ |
(17,798,600) |
|
|
$ |
(17,216,430) |
|
|
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
894,312 |
|
|
|
692,848 |
|
|
Stock-based compensation |
|
|
1,347,987 |
|
|
|
1,871,466 |
|
|
Realized gain on short-term investments |
|
|
(545,094) |
|
|
|
(105,414) |
|
|
Loss on disposed assets |
|
|
11,429 |
|
|
|
– |
|
|
Patent impairment |
|
|
– |
|
|
|
118,831 |
|
|
Change in fair value of warrant liability |
|
|
(1,136,677) |
|
|
|
– |
|
|
Change in estimate of capitalized software |
|
|
2,590,491 |
|
|
|
– |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
Prepaid expenses, operating lease right-of-use assets, and other assets |
|
|
(2,758,782) |
|
|
|
(345,122) |
|
|
Accounts payable |
|
|
112,638 |
|
|
|
(6,475) |
|
|
Accrued expenses, lease liabilities, and other current liabilities |
|
|
446,754 |
|
|
|
(559,715) |
|
|
NET CASH USED IN OPERATING ACTIVITIES |
|
|
(16,835,542) |
|
|
|
(15,550,011) |
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment |
|
|
(872,369) |
|
|
|
(739,947) |
|
|
Acquisition of intangible asset |
|
|
(1,190,613) |
|
|
|
(540,756) |
|
|
Purchase of short-term investments |
|
|
(62,710,899) |
|
|
|
(6,755,408) |
|
|
Proceeds from maturity of short-term investments |
|
|
33,201,501 |
|
|
|
10,610,000 |
|
|
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES |
|
|
(31,572,380) |
|
|
|
2,573,889 |
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
Proceeds from at-the-market equity financing, net of issuance costs |
|
|
– |
|
|
|
6,789,427 |
|
|
Proceeds from public issuance of common stock and pre-funded warrants, net |
|
|
29,611,678 |
|
|
|
4,570,110 |
|
|
Issuance costs from public issuance of common stock and pre-funded |
|
|
(1,025) |
|
|
|
– |
|
|
Issuance costs for stock dividend and restricted stock units |
|
|
– |
|
|
|
(597) |
|
|
NET CASH PROVIDED BY FINANCING ACTIVITIES |
|
|
29,610,653 |
|
|
|
11,358,940 |
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents and restricted cash |
|
|
(18,797,269) |
|
|
|
(1,617,182) |
|
|
Cash and cash equivalents and restricted cash, beginning of year |
|
|
23,617,733 |
|
|
|
3,591,623 |
|
|
Cash and cash equivalents and restricted cash, end of year |
|
$ |
4,820,464 |
|
|
$ |
1,974,441 |
|
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
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cyngn-reports-third-quarter-2025-financial-results-302619315.html
SOURCE Cyngn
FAQ
How much revenue did Cyngn (CYN) report for the nine months ended Sept 30, 2025?
What cash runway did Cyngn (CYN) say it secured on Nov 18, 2025?
How large were Cyngn's cash and short-term investments as of Sept 30, 2025 (CYN)?
What were Cyngn's net losses for Q3 2025 and year-to-date (CYN)?
Did Cyngn (CYN) report any customer deployments in Q3 2025?
How did Cyngn (CYN) change its leadership and sales organization in Q3 2025?
Does Cyngn (CYN) have debt as of Sept 30, 2025 and what is working capital?
