2023 Q3 Form 10-Q Financial Statement

#000121390023065594 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $25.21K $551.0K
YoY Change
Cost Of Revenue $42.41K $462.6K
YoY Change
Gross Profit -$17.20K $88.33K $0.00
YoY Change
Gross Profit Margin -68.24% 16.03%
Selling, General & Admin $2.663M $2.846M $2.357M
YoY Change 4.34% 20.73% 25.58%
% of Gross Profit 3221.99%
Research & Development $2.929M $3.738M $2.256M
YoY Change 7.46% 65.71% 171.15%
% of Gross Profit 4231.75%
Depreciation & Amortization $89.63K $93.04K $24.33K
YoY Change 111.95% 282.4% 10.37%
% of Gross Profit 105.33%
Operating Expenses $2.929M $3.738M $4.613M
YoY Change -44.5% -18.97% 120.33%
Operating Profit -$5.610M -$6.495M -$4.613M
YoY Change 6.28% 40.81% 120.33%
Interest Expense $32.91K $18.89K -$1.610K
YoY Change 603.21% -1273.29% -73.34%
% of Operating Profit
Other Income/Expense, Net $138.2K $142.0K $952.00
YoY Change 628.35% 14817.33% -53.58%
Pretax Income -$5.472M -$6.353M -$4.612M
YoY Change 4.03% 37.76% 26.58%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.472M -$6.353M -$4.612M
YoY Change 4.03% 37.76% 120.5%
Net Earnings / Revenue -21703.74% -1153.17%
Basic Earnings Per Share -$0.14 -$0.19 -$0.15
Diluted Earnings Per Share -$0.14 -$0.19 -$0.15
COMMON SHARES
Basic Shares Outstanding 33.99M shares 33.83M shares 30.71M shares
Diluted Shares Outstanding 37.77M shares 33.79M shares 30.71M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.156M $12.12M $32.60M
YoY Change -70.47% -62.83% 857.64%
Cash & Equivalents $3.500M $3.056M $5.602M
Short-Term Investments $4.619M $9.064M $27.00M
Other Short-Term Assets $436.9K $1.134M $653.5K
YoY Change -25.54% 73.56% 34.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.593M $13.25M $33.26M
YoY Change -69.54% -60.15% 754.55%
LONG-TERM ASSETS
Property, Plant & Equipment $1.393M $1.191M $467.7K
YoY Change 112.85% 154.73% 361.26%
Goodwill
YoY Change
Intangibles $1.160M $556.8K $181.9K
YoY Change 218.25% 206.12%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $2.958M $2.302M $1.293M
YoY Change 93.72% 78.07% 864.37%
TOTAL ASSETS
Total Short-Term Assets $8.593M $13.25M $33.26M
Total Long-Term Assets $2.958M $2.302M $1.293M
Total Assets $11.55M $15.56M $34.55M
YoY Change -61.15% -54.97% 758.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $234.4K $305.4K $243.5K
YoY Change -21.64% 25.41% 87.26%
Accrued Expenses $245.4K $181.7K $138.7K
YoY Change 417.85% 31.0% -40.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $32.61M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.348M $1.614M $1.086M
YoY Change 42.5% 48.63% 188.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $189.8K
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $189.8K
YoY Change -100.0% -88.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.348M $1.614M $1.086M
Total Long-Term Liabilities $0.00 $0.00 $189.8K
Total Liabilities $1.348M $1.614M $1.275M
YoY Change 42.5% 26.52% -35.42%
SHAREHOLDERS EQUITY
Retained Earnings -$153.2M -$147.7M -$124.9M
YoY Change 17.68% 18.24%
Common Stock $352.00 $338.00 $336.00
YoY Change 4.45% 0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.600M $9.100M
YoY Change -79.09%
Treasury Stock Shares
Shareholders Equity $10.20M $13.94M $33.27M
YoY Change
Total Liabilities & Shareholders Equity $11.55M $15.56M $34.55M
YoY Change -61.15% -54.97% 758.21%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$5.472M -$6.353M -$4.612M
YoY Change 4.03% 37.76% 120.5%
Depreciation, Depletion And Amortization $89.63K $93.04K $24.33K
YoY Change 111.95% 282.4% 10.37%
Cash From Operating Activities -$4.190M -$4.870M -$3.602M
YoY Change -8.84% 35.17% 1.65%
INVESTING ACTIVITIES
Capital Expenditures $424.4K $34.04K -$183.4K
YoY Change -285.13% -118.56% 1471.38%
Acquisitions
YoY Change
Other Investing Activities $4.084M -$9.820K -$27.15M
YoY Change -15.6% -99.96%
Cash From Investing Activities $3.659M -$43.86K -$27.34M
YoY Change -20.61% -99.84% 234149.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.011M 1.230K 18.13M
YoY Change 6023.8% -99.99% 1906.35%
NET CHANGE
Cash From Operating Activities -4.190M -4.870M -3.602M
Cash From Investing Activities 3.659M -43.86K -27.34M
Cash From Financing Activities 1.011M 1.230K 18.13M
Net Change In Cash 480.1K -4.912M -12.81M
YoY Change 1529.15% -61.64% 382.91%
FREE CASH FLOW
Cash From Operating Activities -$4.190M -$4.870M -$3.602M
Capital Expenditures $424.4K $34.04K -$183.4K
Free Cash Flow -$4.615M -$4.904M -$3.419M
YoY Change 5.67% 43.42% -3.21%

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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
824292 usd
cyngn Change In Deferred Rent Associated With Asc842
ChangeInDeferredRentAssociatedWithASC842
58676 usd
cyngn Acquisition Property And Equipment Included In Accounts Payable And Accrued Expenses
AcquisitionPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
22185 usd
us-gaap Conversion Of Stock Description
ConversionOfStockDescription
Pursuant to the Purchase Agreement, the Company sold (i) 3,790,322 shares of its Common Stock together with Common Warrants to purchase up to 3,790,322 shares of Common Stock, and (ii) 2,661,291 Pre-Funded Warrants with each Pre-Funded Warrant exercisable for one share of Common Stock, together with Common Warrants to purchase up to 2,661,291 shares of Common Stock.
CY2023Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
3.09
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
2.98
cyngn Exercisable Expires Term
ExercisableExpiresTerm
P5Y
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
12000000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8400000 usd
CY2023Q2 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
147700000 usd
CY2022Q4 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
135700000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
10200000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
7000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the balance sheet date, as well as reported amounts of revenue and expenses during the reporting period. The Company’s significant estimates and judgments include but are not limited to warrants and share-based compensation. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, which is placed with high-credit-quality financial institutions and at times exceeds federally insured limits.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash maintained with domestic financial institutions generally exceed the Federal Deposit Insurance Corporation insurable limit. To date, the Company has not experienced any losses on its deposits of cash. Cyngn invests in U.S. Treasury securities and carries these at amortized cost and recognizes gains and losses when realized.</p>
CY2023Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
3100000 usd
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
10500000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P15Y
CY2022Q2 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
100000 usd
CY2022Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P15Y
CY2023Q2 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
203133 usd
CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
359289 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1888861 usd
CY2022Q4 cyngn Percentage Of Accounts Receivable
PercentageOfAccountsReceivable
0 pure
CY2023Q2 us-gaap Amount Of Deferred Costs Related To Long Term Contracts
AmountOfDeferredCostsRelatedToLongTermContracts
0 usd
CY2022Q4 us-gaap Amount Of Deferred Costs Related To Long Term Contracts
AmountOfDeferredCostsRelatedToLongTermContracts
100000 usd
CY2023Q2 us-gaap Treasury Stock Value
TreasuryStockValue
9100000 usd
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
12100000 usd
CY2023Q2 cyngn Automobiles
Automobiles
399087 usd
CY2022Q4 cyngn Automobiles
Automobiles
397816 usd
CY2023Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
176402 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
176402 usd
CY2023Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
423665 usd
CY2022Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
380457 usd
CY2023Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
686574 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
93120 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1407084 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
697586 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
523084 usd
CY2023Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
1191275 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
884000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
93039 usd
CY2022Q2 us-gaap Depreciation
Depreciation
24330 usd
us-gaap Depreciation
Depreciation
174502 usd
us-gaap Depreciation
Depreciation
45405 usd
CY2023Q2 cyngn Credit Card Payable
CreditCardPayable
10873 usd
CY2022Q4 cyngn Credit Card Payable
CreditCardPayable
5194 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
181742 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
283118 usd
CY2023Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
558575 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
566608 usd
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
751190 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
854920 usd
us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
48000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
568445 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11337 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
557108 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0184 pure
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
149261 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
157869 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
291847 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
235968 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
144177 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
133998 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
282199 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
181110 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
610813 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-54035 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
556778 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
508821 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-35745 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
473076 usd
CY2023Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
9742 usd
CY2022Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1720 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
18289 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
2587 usd
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33830900 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33830900 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33684864 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33684864 shares
CY2023Q2 cyngn Warrants Outstanding
WarrantsOutstanding
6591613 shares
cyngn Fair Value
FairValue
6302833 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6353399 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4611961 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
33794325 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
30706235 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11982157 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8431000 usd
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
33748799 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
28682245 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
cyngn Fair Value Is Recognized
FairValueIsRecognized
The resulting fair value is recognized on a straight-line basis over the period during which an employee is required to provide service in exchange for the award. The Company has elected to recognize forfeitures as they occur. Stock options generally vest over four years and have a contractual term of ten years.
cyngn Common Stock Shares Issurance
CommonStockSharesIssurance
2200000 shares
CY2022 cyngn Common Stock Shares Issurance
CommonStockSharesIssurance
3600000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14715110 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.23
CY2022Q4 cyngn Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
P7Y10M2D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2571013 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2341000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.03
cyngn Stocks Issued During Period Shares Stock Options Exercised
StocksIssuedDuringPeriodSharesStockOptionsExercised
23750 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.34
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
15523 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1066045 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.75
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15966315 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.17
CY2023Q2 cyngn Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7548582 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
15966315 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
7548582 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
7527990 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0.88
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
5823641 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
216036 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
108000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
122286 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
5.52
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
201750 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.13
cyngn Weighted Average Per Share Grantdate Fair Value Of Options Granted
WeightedAveragePerShareGrantdateFairValueOfOptionsGranted
0.56
cyngn Weighted Average Per Share Grantdate Fair Value Of Options Granted
WeightedAveragePerShareGrantdateFairValueOfOptionsGranted
0.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.95
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y21D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0361 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0249 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5272 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3623 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q2 cyngn Stockbased Compensation Expense From Stock Options
StockbasedCompensationExpenseFromStockOptions
873707 usd
CY2022Q2 cyngn Stockbased Compensation Expense From Stock Options
StockbasedCompensationExpenseFromStockOptions
713570 usd
cyngn Stockbased Compensation Expense From Stock Options
StockbasedCompensationExpenseFromStockOptions
1798607 usd
cyngn Stockbased Compensation Expense From Stock Options
StockbasedCompensationExpenseFromStockOptions
1233712 usd
us-gaap Present Value Of Future Insurance Profits Weighted Average Amortization Period
PresentValueOfFutureInsuranceProfitsWeightedAverageAmortizationPeriod
P3Y1M6D
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
CY2022Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0 pure
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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CY2023Q2 us-gaap Restricted Cash
RestrictedCash
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us-gaap Interest Paid Net
InterestPaidNet
usd
cyngn Change In Deferred Rent Associated With Asc842
ChangeInDeferredRentAssociatedWithASC842
usd
cyngn Acquisition Property And Equipment Included In Accounts Payable And Accrued Expenses
AcquisitionPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
usd
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
30706235 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
33794325 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
28682245 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
33748799 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2023Q2 cyngn Aggregate Intrinsic Value Granted
AggregateIntrinsicValueGranted
usd
CY2023Q2 cyngn Aggregate Intrinsic Value Cancelledforfeited
AggregateIntrinsicValueCancelledforfeited
usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001874097

Files In Submission

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0001213900-23-065594-index-headers.html Edgar Link pending
0001213900-23-065594-index.html Edgar Link pending
0001213900-23-065594.txt Edgar Link pending
0001213900-23-065594-xbrl.zip Edgar Link pending
cyngn-20230630.xsd Edgar Link pending
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