CYNGN Inc
cyngn.comWhat Do They Do?
Builds autonomous-driving software and fleet-management tools for industrial vehicle makers and companies that operate industrial fleets.
10-K for FY2025, filed Mar 27, 2026We integrate our full-stack autonomous driving software, DriveMod, onto vehicles manufactured by Original Equipment Manufacturers (“OEM”)…View ↗
Our long-term vision is for our Enterprise Autonomy Suite (“EAS”)-which includes the DriveMod autonomous driving stack as well as the Cyngn…View ↗
Our go-to-market strategy is to acquire new customers that use industrial vehicles in their mission-critical and daily operations by (a)…View ↗
How Do They Make Money?
Industrial customers pay for autonomous vehicle systems that combine vehicles, software and services, as well as hardware leases and deployment work. For integrated contracts, Cyngn earns the contract amount over the term while customers receive software operation, monitoring, updates and support.
10-K for FY2025, filed Mar 27, 2026The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts with Customers. The Company generates revenue from…View ↗
Method of Measuring Progress. Revenue associated with the Company’s integrated autonomous vehicle solution is generally recognized over…View ↗
The Company measures progress toward satisfaction of the performance obligation using an output method based on the passage of time…View ↗
$219K
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10-K for FY2025, filed Mar 27, 2026
$219K ↗
Who Are Their Customers?
Works with industrial vehicle manufacturers that embed its software, as well as industrial operators and service providers that use vehicles in their operations. It pursues customers through partner relationships and direct sales, with vehicle dealers and service networks helping reach end users.
10-K for FY2025, filed Mar 27, 2026Our go-to-market strategy is to acquire new customers that use industrial vehicles in their mission-critical and daily operations by (a)…View ↗
Our focus is on acquiring new customers who are either (a) looking to embed our technology into their vehicle products or (b) upsell their…View ↗
We intend to continue to pursue and win additional license agreements with companies that depend heavily on the use of material handling…View ↗
10-K for FY2025, filed Mar 27, 2026
2025 2024 Customer A 17.1 % * Customer B 36.8 % * Customer C 11.5 % 73.2 % Customer D 19.1 % * Customer E 12.3 % *View ↗
Do Revenues Turn Into Profits?
No. It lost $23.5M in FY2025.
10-K for FY2025, filed Mar 27, 2026
−$25.7MView ↗
10-K for FY2025, filed Mar 27, 2026
−$23.5MView ↗
10-K for FY2025, filed Mar 27, 2026
−$24.8MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$6.4MView ↗
- ▲ +17% (Loss)
- vs −$5.4M in Q2 FY2025
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Apr 7, 2026
Cyngn replaced its independent accounting firm
Baker Tilly replaced CBIZ; the filing also cited material weaknesses in financial reporting controls.
Sources
8-K, filed Apr 7, 2026
On April 3, 2026, the Audit Committee and Board of Directors of Cyngn Inc. (the “Company”) approved the proposed appointment of Baker Tilly…View ↗
Shrinking. Revenue fell 16% in 3 years, from $262K in FY2022 to $219K in FY2025, about 6% a year.
Commercial releases
The older report described DriveMod deployments as prototypes and proof-of-concept projects. The latest report adds commercially released vehicles deployed with customers, alongside paid development projects.
10-K for FY2022, filed Mar 17, 2023 10-K for FY2025, filed Mar 27, 2026Our long-term vision is for EAS to become a universal autonomous driving solution with minimal marginal cost for companies to adopt new…View ↗
Our recent progress contributes to the validation of EAS with OEM partners and end customers. We also continue to build upon our ability to…View ↗
Who Do They Compete With?
Competes with Crown Equipment, Toyota, Yale, Vecna Materials Handling, and Seegrid
10-K for FY2025, filed Mar 27, 2026The market for automated vehicle solutions is burgeoning, and the advanced technology required to enable autonomous solutions in industrial…View ↗
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