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Cyngn Reports 2026 1st Quarter Financial Results

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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.

CYNGN INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

March 31,

2026

2025

Revenue

$

104,573

$

47,152

Costs and expenses

Cost of revenue

57,350

11,813

Research and development

2,889,253

2,106,910

General and administrative

4,099,741

3,143,462

Total costs and expenses

7,046,344

5,262,185

Loss from operations

(6,941,771)

(5,215,033)

Other income, net

Interest income, net

22,070

74,819

Change in fair value of warrant liabilities

1,136,677

Other income, net

432,942

91,890

Total other income, net

455,012

1,303,386

Net loss

$

(6,486,759)

$

(3,911,647)

Net loss per share attributable to common stockholders, basic and diluted

$

(0.59)

$

(3.40)

Weighted-average shares used in computing net loss per share attributable to
common stockholders, basic and diluted

11,008,586

1,150,882

 

CYNGN INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31,

December 31,

2026

2025

ASSETS

CURRENT ASSETS

Cash and cash equivalents

$

5,131,502

$

990,023

Short-term investments

39,245,418

33,736,091

Accounts and other receivables

2,731,893

1,544,213

Inventory

1,784,315

2,039,655

Prepaid expenses and other current assets

1,034,644

910,605

TOTAL CURRENT ASSETS

49,927,772

39,220,587

NON-CURRENT ASSETS

Property and equipment, net

3,467,825

3,268,196

Right of use asset, net

5,754,120

5,971,800

Intangible assets, net

462,091

466,223

Other non-current assets

1,346,084

1,126,409

TOTAL NON-CURRENT ASSETS

11,030,120

10,832,628

TOTAL ASSETS

$

60,957,892

$

50,053,215

LIABILITIES AND STOCKHOLDERS’ DEFICIT

CURRENT LIABILITIES

Accounts payable

$

372,714

$

217,439

Deferred revenue

2,249,955

1,658,015

Accrued expenses and other current liabilities

862,020

2,615,734

Current operating lease liability

650,312

312,365

TOTAL CURRENT LIABILITIES

4,135,001

4,803,553

NON-CURRENT LIABILITIES

Non-current operating lease liability

6,253,061

6,495,256

TOTAL NON-CURRENT LIABILITIES

6,253,061

6,495,256

TOTAL LIABILITIES

10,388,062

11,298,809

Commitments and Contingencies (Note 12)

STOCKHOLDERS’ EQUITY

Preferred stock, Par $0.00001, 10 million shares authorized; no shares issued and
     outstanding as of March 31, 2026 and December 31, 2025

Common stock, Par $0.00001; 400,000,000 shares authorized as of March 31, 2026
     and December 31, 2025; 13,608,281 and 7,974,380 shares issued and outstanding
     as of March 31, 2026 and December 31, 2025, respectively

136

80

Additional paid-in capital

273,878,924

255,576,797

Accumulated deficit

(223,309,230)

(216,822,471)

TOTAL STOCKHOLDERS’ DEFICIT

50,569,830

38,754,406

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

$

60,957,892

$

50,053,215

 

CYNGN INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended

March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss

$

(6,486,759)

$

(3,911,647)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

316,605

240,907

Stock-based compensation

386,289

536,244

Realized gain on short-term investments

(67,160)

Accretion on short-term investments

(432,942)

Change in fair value of warrant liability

(1,136,677)

Change in assets and liabilities:

Accounts and other receivables

(1,187,681)

Inventory

255,340

Prepaid expenses, operating lease right-of-use assets, and other assets

(343,714)

(941,529)

Accounts payable

155,275

33,888

Deferred revenue

591,940

Accrued expenses, lease liabilities, and other current liabilities

(1,657,962)

(1,267,094)

Net cash used in operating activities

(8,403,609)

(6,513,068)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property and equipment

(289,489)

(178,453)

Acquisition of intangible asset

(4,932)

(655,574)

Disposal of assets

1,960

Purchase of short-term investments

(20,978,738)

(23,015,397)

Proceeds from maturity of short-term investments

15,902,353

7,746,155

Net cash used in investing activities

(5,370,806)

(16,101,309)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from at-the-market equity financing, net of issuance costs

9,166,427

Proceeds from public issuance of common stock, net of offering costs

8,749,467

Issuance costs for public issuance of common stock and pre-funded warrants and
     exercise of pre-funded warrants

(1,025)

Net cash provided by (used in) financing activities

17,915,894

(1,025)

Net increase (decrease) in cash and cash equivalents

4,141,479

(22,615,402)

Cash and cash equivalents at beginning of period

990,023

23,617,733

Cash and cash equivalents at end of period

$

5,131,502

$

1,002,331

Supplemental disclosure:

Acquisition of property and equipment included in accounts payable and accrued
     expenses

$

21,405

$

17,441

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.

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.comX: https://x.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: 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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SOURCE Cyngn

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New ProEssentials v11: Native WinUI Charting Library, 100M Points in 15ms, Following Microsoft’s Vision for True Native Swap-Chain Rendering

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30 years of evolution in native C++ rendering that bypasses the managed XAML layer entirely and renders straight on the GPU via Direct3D compute shaders, in native x64 and ARM64, ready for Microsoft’s Windows on Arm and Copilot+ PCs. A fresh pass of 100M new data points renders to screen in ~65ms. The same engine powers WinUI, WPF, WinForms, MFC, and C++ from one codebase, with .NET 10 — built for real-time scientific, engineering, and financial data.

DALLAS, July 26, 2026 /PRNewswire/ — Gigasoft has released ProEssentials v11, bringing its 30-year native C++ charting engine to WinUI. Every other WinUI chart today renders through managed XAML — ProEssentials renders directly to a Direct3D composition swap chain, the native path Microsoft built WinUI around. The result: 100 million data points re-rendered in roughly 15ms, a fully fresh 100M-point frame on screen in about 65ms.

v11 also ships a native ARM64 engine, ProEssentials runs native on Microsoft’s Windows on Arm and Copilot+ PCs. .NET 10 arrives across the WinUI, WPF, and WinForms interfaces, with Direct3D compute shaders doing the heavy lifting on every architecture. A side-by-side native WinUI chart performance comparison against the major vendors is published on gigasoft.com.

The engine underneath is the same native C++ core Gigasoft has refined since 1993 — deliberately kept native behind a thin .NET wrapper, never rewritten in managed code. One engine drives WinUI, WPF, WinForms, MFC, and C++, so a chart moves between frameworks by changing the control type, not the charting code. Don’t take the numbers on faith — clone the open-source 100M-point WinUI demo and benchmark it on your own hardware.

“ProEssentials is the undisputed heavyweight of Windows desktop charting. Version 11 brings its three-decade native C++ engine to WinUI 3, native ARM64, and .NET 10. We’re proud to ship the world’s first charting component to faithfully deliver on Microsoft’s goal for WinUI as the modern, native, performant interface — presenting directly through a composition swap chain instead of a managed XAML layer,” said Robert Dede, founder of Gigasoft.

ProEssentials is not only for shipping products. It is the tool engineers reach for on their own side projects — R&D experiments, rapid prototypes, proof-of-concept demos, test-and-measurement utilities, internal data analysis, and the one-off tools engineering firms are always building. Any company serious about engineering will find countless uses for it, and with v11’s AI charting code assistance many of those ideas become working applications in a few hours. Licensing is perpetual and royalty-free, generous for multi-developer teams — worth putting in front of your CTO, CIO, and Chief AI Officer. A no-hassle evaluation download is available at gigasoft.com.

Contact:
Robert Dede, BSEE, Founder
Gigasoft, Inc.
***@gigasoft.com

Photo(s):
https://www.prlog.org/13152577

Press release distributed by PRLog

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SOURCE Gigasoft, Inc.

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Global Times: Here Come China’s ‘next new three’: AI, robotics and innovative drugs spearhead a new round of industrial upgrading

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BEIJING, July 26, 2026 /PRNewswire/ — From four-legged inspection robots operating in European nuclear power plants to automatic coffee-making robotic arms serving travelers at airports and transit hubs around the globe and smart AI systems supporting local Chinese teaching in Thai schools, these varied overseas applications offer a vivid snapshot of how China’s “next new three” industries are expanding globally.

Labeled the “next new three,” AI, robotics and innovative drugs represent China’s new core strategic industries and fresh economic growth engines. Their rise marks a major upgrade in China’s industrial and export model. More importantly, this industrial shift is delivering open, inclusive and innovative solutions to support global industrial upgrading and shared development, experts said.

From ‘old three’ to ‘next new three’ 

For decades, China established its global manufacturing foothold by leveraging its labor-cost advantages, with apparel, furniture and home appliances becoming the iconic “old three” of Chinese exports.

In recent years, the export portfolio has undergone a remarkable green and tech transformation. Electric vehicles (EVs), lithium batteries and photovoltaic products, known as the “new three,” have become the backbone of China’s export growth.

Recent industry data demonstrates the strong growth potential of the “next new three” tech sectors: AI, robotics and innovative drugs.

Statistics from global AI platform OpenRouter show that domestic large models registered 36.11 trillion token calls in the week of July 13 to 19, a month-on-month increase of 30.93 percent, with growth sustained for eight straight weeks, according to the People’s Daily.

In the first half of the year, the country’s robotics exports reached 6.29 billion yuan ($929 million), covering 141 countries and regions with the exports of high-end surgical robots recording a striking 3.3-fold year-on-year increase. 

Meanwhile, China’s innovative pharmaceutical sector has gained strong global influence, with outbound technology licensing transactions hitting $110 billion in the first six months of the year. Chinese pharmaceutical companies accounted for eight of the world’s top 10 pharmaceutical licensing deals.

Wang Peng, a research fellow at the Beijing Academy of Social Sciences, told the Global Times on Sunday that the rise of the “next new three” represents China’s industrial shift from exporting manufacturing capacity to exporting high-end innovation.

Competition now centers on original research, core underlying technologies and related services rather than production volume and costs, Wang said.

He noted that these industries help Chinese businesses move up the value chain from assembly processing to research and development, technical services and standard-setting, strengthening China’s position in global industrial chains. 

Mirroring this trend, from January to May this year, China’s total services trade volume rose 6 percent year-on-year, while the services trade deficit narrowed by around 20 percent. Exports of knowledge-intensive services surged 12.2 percent, highlighting the continuous improvement of China’s services export competitiveness and the optimized structure of foreign trade, according to the People’s Daily.

While the “new three” underpin China’s foreign trade fundamentals, the “next new three” seize the commanding heights of future industries. Jointly, they shore up China’s long-term economic competitiveness and inject sustained impetus into high-quality growth, Wang said.

Inclusive technological progress

China’s high-quality exports of products and services have contributed to more inclusive technological progress to the global market, reflecting Chinese enterprises’ core strengths in independent technological research, business model innovation and the ability to integrate global resources, as well as China’s commitment to driving global development and benefiting humanity through technological openness.

Chinese startup DEEP Robotics told the Global Times that its quadruped robot intelligent inspection solution has been officially deployed at Switzerland’s Leibstadt Nuclear Power Plant, the largest and highest-output nuclear facility in the European country, providing a Chinese solution for the digital and intelligent upgrading of nuclear power operations and maintenance across Europe.

The quadruped robot can replace human workers to access high-risk areas, perform precise operations and conduct high-frequency regular autonomous inspections 24/7, fundamentally cutting safety risks for on-site maintenance staff. It can also move flexibly through narrow corridors and gaps between dense equipment, covering all key inspection points and significantly reducing monitoring blind spots that traditional inspection devices cannot reach, the firm said.

Chinese robotic firm DoBot told the Global Times that in the commercial services sector, coffee robots equipped with its Nova series collaborative robotic arms have been operating stably in more than 20 types of venues including airports, high-speed railway stations and shopping malls globally, with a track record of producing hundreds of thousands of cups without reported malfunctions.

Overseas landmark applications include unattended Coca-Cola beverage stations along the Mediterranean coast, mobile coffee kiosks in the United Arab Emirates that serve a drink within 45 seconds, and self-operated food trucks deployed in shopping malls in Singapore, the company said.

Chinese AI company iFLYTEK said that its AI-powered intelligent teaching system has helped expand Chinese language learning worldwide and supported the digital development of Chinese education in overseas markets. 

Since a Thai middle school adopted iFLYTEK’s AI-powered intelligent Chinese teaching system in 2025, the technology has acted as a supplementary teaching solution amid growing local demand for Chinese learning and a shortage of qualified language instructors. It has greatly expanded students’ practice opportunities: On average, learners now speak Chinese 12 times per session, compared with only twice in regular classes, Xie Fei, director of iFLYTEK’s Global Chinese Learning Platform, said on Sunday.

From industrial robots to boost production efficiency for local factories to AI algorithms that improve local smart ecosystems, China’s “next new three” allow countries at all development levels to access benefits from advanced technologies and narrow the global digital divide, Wang said.

By building a sound global industrial network and rolling out customized technology solutions tailored to local conditions, these technological exports help recipient countries nurture their own industrial capacities and climb up the value chain to move higher up the industrial value chain. In the long run, such efforts will drive the global industrial system toward greater diversification and more balanced development, Wang noted.

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SOURCE Global Times

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KuCoin Marks Ninth Anniversary at Tomorrowland Belgium, Honoring Nine Years of Industry Progress Beyond the Signal

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PROVIDENCIALES, Turks and Caicos Islands, July 26, 2026 /PRNewswire/ — On the day of its ninth anniversary, KuCoin welcomed global partners, institutional clients, ecosystem builders and media representatives to the “On Cloud 9 Skybox Experience,” an exclusive celebration at the Tomorrowland Belgium Skybox. Overlooking Tomorrowland’s iconic Mainstage, guests gathered throughout an unforgettable evening as world-renowned artists including Nicky Romero, Alok, Steve Angello and Hardwell delivered performances that brought together people from around the world. Against this backdrop of music, culture and global connection, KuCoin celebrated not only its own nine-year journey, but also the remarkable progress the digital asset industry has achieved together.

The experience formed part of KuCoin’s broader ninth-anniversary campaign, “Beyond the Signal,” reflecting the company’s belief that the industry’s future will be shaped not by short-term market movements alone, but by the trust, innovation and infrastructure that enable lasting progress. Bringing this vision to life in an elevated festival setting, the evening offered guests an opportunity to reflect on nine years of shared growth, collaboration and resilience, while looking ahead together to the next chapter of digital assets.

Against the backdrop of Tomorrowland’s iconic Mainstage, the exclusive Skybox experience with signature champagne rituals brought KuCoin and its guests together to reflect on and celebrate the milestones that have shaped its nine-year journey. From expanding access to digital assets and navigating multiple market cycles to strengthening security and compliance, supporting institutional participation, and advancing innovation across payments, AI and Web3, these milestones also reflected the broader evolution of the digital asset industry toward greater maturity.

The moment celebrated not only how far KuCoin has come, but also the progress the industry has made together. Over the past nine years, markets have risen and fallen, and technologies have continued to evolve. Yet lasting progress has always been driven by the builders, developers, partners and communities working together to create enduring value. That is the idea behind Beyond the Signal.

“Ninth anniversaries are often measured in years. We prefer to measure ours in trust,” said BC Wong, CEO of KuCoin. “The greatest achievement of the past nine years has not been our growth alone, but the confidence our users, partners and community have continued to place in us. Trust is the infrastructure that enables innovation, adoption and long-term progress. As we enter our next decade, we remain committed to building secure, compliant and trusted digital asset infrastructure together with our partners worldwide.”

The celebration also highlighted KuCoin’s expanding partnership with Tomorrowland as the festival’s Exclusive Crypto Exchange and Payments Partner for Tomorrowland Winter and Tomorrowland Belgium 2026–2028. Bringing together one of the world’s most influential cultural events with trusted digital infrastructure, the partnership reflects a shared vision of connecting people across borders and creating meaningful real-world experiences through technology, payments and community. For KuCoin, Tomorrowland is more than a global music festival—it represents the openness, diversity and global community that have always been at the heart of crypto.

Nine years ago, KuCoin set out to make digital assets accessible to more people around the world. Today, its mission has evolved beyond access to helping build the trusted infrastructure that will support the future of digital finance. Beyond music, beyond the celebration and beyond the signal, KuCoin’s ninth anniversary was not only a milestone for the company, but a celebration of how far the industry has come together—and a commitment to building what comes next.

About KuCoin

Founded in 2017, KuCoin is a leading global crypto platform built on trust and security, serving over 45 million users across 200+ countries and regions. Known for its reliability and user-first approach, the platform combines advanced technology, deep liquidity, and strong security safeguards to deliver a seamless trading experience. KuCoin provides access to 1,500+ digital assets through a broad product suite and remains committed to building transparent, compliant, and user-centric digital asset infrastructure for the future of finance, backed by SOC 2 Type II, ISO/IEC 27001:2022, and ISO/IEC 27701:2019 Certifications. In recent years, we have built a strong global compliance foundation, marked by key milestones including AUSTRAC registration in Australia, a MiCA license in Europe, and regulatory progress in other markets.

Learn more at www.kucoin.com.

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