Cyngn Inc 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number:001-40932 CYNGN INC.(Exact name of registrant as specified in its charter) Delaware46-2007094(State or other jurisdiction of(I.R.S. Employer 1344 Terra BellaMountain View,CA94043(Address of principal executive offices) (Zip Code) (650)924-5905(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ As ofMay 14, 2026, the issuer had 14,423,281 shares of common stock, par value $0.00001 per share, outstanding. CYNGN INC. TABLE OF CONTENTS Page No.PART IFINANCIAL INFORMATION1ITEM 1.FINANCIAL STATEMENTS1Condensed Consolidated Balance Sheets as of March 31, 2026 (unaudited) and December 31, 20251Condensed Consolidated Statements of Operations for the Three Months ended March 31, 2026 and 2025(unaudited)2Condensed Consolidated Statements of Stockholders’(Deficit) Equity for the Three Months ended March 31,2026 and 2025 (unaudited)3Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2026 and 2025(unaudited)4Notes to Condensed Consolidated Financial Statements (unaudited)5ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS25ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK33ITEM 4.CONTROLS AND PROCEDURES33PART IIOTHER INFORMATION34ITEM 1.LEGAL PROCEEDINGS34ITEM 1A.RISK FACTORS34ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS34ITEM 3.DEFAULTS UPON SENIOR SECURITIES34ITEM 4.MINE SAFETY DISCLOSURES34ITEM 5.OTHER INFORMATION34ITEM 6.EXHIBITS34SIGNATURES35 PART 1—FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS CYNGN INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS March 31,December31,20262025 Cash and cash equivalents$5,131,502$990,023Short-term investments39,245,41833,736,091Accounts and other receivables2,731,8931,544,213Inventory1,784,3152,039,655Prepaid expenses and other current assets1,034,644910,605TOTAL CURRENT ASSETS49,927,77239,220,587 The accompanying notes are an integral part of these condensed consolidated financial statements. CYNGN INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) Three Months EndedMarch 31,20262025Revenue$104,573$47,152Costs and expensesCost of revenue57,35011,813Research and development2,889,2532,106,910General and administrative4,099,7413,143,462Total costs and expenses7,046,3445,262,185Loss from operations(6,941,771)(5,215,033) CYNGN INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’(DEFICIT) EQUITY(Unaudited) CYNGN INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) CYNGN INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements(Unaudited) 1. Description of Business Cyngn Inc., together with its subsidiary (collectively, “Cyngn” or the “Company”), was incorporated in Delaware in 2013. Our whollyowned subsidiary, Cyngn Singapore PTE. LTD., is a Singaporean limited company organized in 2015. The Company is headquarteredin Mountain View, CA. Cyngndevelops and deploys scalable,differentiated autonomous vehicle technology for industrial organizations.Ourfull-stackautonomous driving software,(“DriveMod”),can be integrated onto vehicles manufactured by Original EquipmentManufacturers (“OEM”) by integration directly int