Autonomous vehicle technology company Cyngn Inc. (CYN) on Wednesday reported a wider first-quarter loss, as increased research and development as well as administrative expenses more than offset revenue growth.
Net loss widened to $6.49 million, or $0.59 loss per share, from a net loss of $3.91 million, or $3.40 loss per share, in the year-ago quarter.
Revenue increased to $104 thousand from $47 thousand last year, driven by enterprise autonomous software subscription revenue tied to DriveMod tugger vehicle deployments.
Total costs and expenses rose 34% to $7.05 million from $5.26 million a year earlier. Research and development expenses increased to $2.89 million from $2.11 million last year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.