2024 Q2 Form 10-Q Financial Statement

#000121390024041350 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $8.665K $5.513K
YoY Change -98.43% -99.37%
Cost Of Revenue $14.92K $113.8K
YoY Change -96.77% -81.55%
Gross Profit -$6.257K -$108.3K
YoY Change -107.08% -142.27%
Gross Profit Margin -72.21% -1963.78%
Selling, General & Admin $2.607M $2.703M
YoY Change -8.4% -11.97%
% of Gross Profit
Research & Development $3.199M $3.155M
YoY Change -14.41% 4.11%
% of Gross Profit
Depreciation & Amortization $50.05K $225.6K
YoY Change -46.2% -1.07%
% of Gross Profit
Operating Expenses $3.199M $3.155M
YoY Change -14.41% 4.11%
Operating Profit -$5.812M -$5.966M
YoY Change -10.52% 2.08%
Interest Expense -$1.670K $1.330K
YoY Change -108.84% -97.16%
% of Operating Profit
Other Income/Expense, Net -$6.748K -$3.720K
YoY Change -104.75% -101.72%
Pretax Income -$5.819M -$5.970M
YoY Change -8.41% 6.06%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.819M -$5.970M
YoY Change -8.41% 6.06%
Net Earnings / Revenue -67154.67% -108290.93%
Basic Earnings Per Share -$4.11 -$0.08
Diluted Earnings Per Share -$4.11 -$0.08
COMMON SHARES
Basic Shares Outstanding 141.5M shares 82.29M shares
Diluted Shares Outstanding 1.417M shares 77.08M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.994M $4.771M
YoY Change -42.29% -71.86%
Cash & Equivalents $5.900M $2.200M
Short-Term Investments $1.063M $2.579M
Other Short-Term Assets $124.6K $55.11K
YoY Change -89.01% -96.02%
Inventory $70.28K
Prepaid Expenses $286.7K $437.9K
Receivables
Other Receivables $763.6K
Total Short-Term Assets $8.333M $6.273M
YoY Change -37.13% -65.8%
LONG-TERM ASSETS
Property, Plant & Equipment $1.961M $1.652M
YoY Change 64.65% 32.16%
Goodwill
YoY Change
Intangibles $986.1K $1.045M
YoY Change 77.12% 105.27%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.596M $3.519M
YoY Change 56.22% 76.59%
TOTAL ASSETS
Total Short-Term Assets $8.333M $6.273M
Total Long-Term Assets $3.596M $3.519M
Total Assets $11.93M $9.792M
YoY Change -23.32% -51.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $180.2K $248.7K
YoY Change -41.0% -43.94%
Accrued Expenses $508.2K $355.9K
YoY Change 179.61% 274.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.226M $1.694M
YoY Change 37.94% 85.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $127.6K
YoY Change
Total Long-Term Liabilities $0.00 $127.6K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.226M $1.694M
Total Long-Term Liabilities $0.00 $127.6K
Total Liabilities $2.226M $1.821M
YoY Change 37.94% 99.26%
SHAREHOLDERS EQUITY
Retained Earnings -$171.8M -$166.0M
YoY Change 16.31% 17.43%
Common Stock $18.00 $884.00
YoY Change -94.67% 162.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.100M $2.600M
YoY Change -87.91% -71.11%
Treasury Stock Shares
Shareholders Equity $9.703M $7.971M
YoY Change
Total Liabilities & Shareholders Equity $11.93M $9.792M
YoY Change -23.32% -51.84%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.819M -$5.970M
YoY Change -8.41% 6.06%
Depreciation, Depletion And Amortization $50.05K $225.6K
YoY Change -46.2% -1.07%
Cash From Operating Activities -$4.385M -$5.800M
YoY Change -9.95% 7.86%
INVESTING ACTIVITIES
Capital Expenditures $363.3K $214.2K
YoY Change 967.16% -52.15%
Acquisitions
YoY Change
Other Investing Activities $1.552M $2.003M
YoY Change -15904.28% -37.4%
Cash From Investing Activities $1.189M $1.789M
YoY Change -2810.26% -35.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.935M $2.652M
YoY Change 563716.26% 38650.1%
NET CHANGE
Cash From Operating Activities -4.385M -$5.800M
Cash From Investing Activities 1.189M $1.789M
Cash From Financing Activities 6.935M $2.652M
Net Change In Cash 3.739M -$1.359M
YoY Change -176.11% -48.1%
FREE CASH FLOW
Cash From Operating Activities -$4.385M -$5.800M
Capital Expenditures $363.3K $214.2K
Free Cash Flow -$4.748M -$6.014M
YoY Change -3.16% 3.25%

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CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q1 us-gaap Share Price
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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0.525 pure
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
654000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y7M6D
CY2024Q1 us-gaap Income Tax Expense Benefit
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0 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0 pure
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
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CY2024Q2 cyngn Agreement For Net Proceeds
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CY2024Q2 us-gaap Payments For Fees
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CY2024Q1 cyngn Other Direct Cost
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false
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CY2024Q1 us-gaap Commitments And Contingencies
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CY2024Q1 us-gaap Preferred Stock Value
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CY2024Q1 us-gaap Preferred Stock Shares Issued
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CY2024Q1 us-gaap Preferred Stock Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37685413 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
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CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2024Q1 us-gaap Proceeds From Stock Options Exercised
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CY2024Q1 cyngn Cash Paid During The Year For Income Taxes
CashPaidDuringTheYearForIncomeTaxes
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CY2023Q1 cyngn Cash Paid During The Year For Income Taxes
CashPaidDuringTheYearForIncomeTaxes
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CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2024Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2023Q4 us-gaap Inventory Net
InventoryNet
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CY2023Q4 us-gaap Salvage And Subrogation Recoveries Value
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CY2024Q1 us-gaap Preferred Stock Shares Issued
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shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37685413 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77081105 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001874097

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