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CYNGN Inc (CYN) RSS Feed

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Created
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_________________________nothing above only below bottom line__________________this section maintained by BBW__________________
 CYNGN Inc (CYN) Nasdaq 

Website: cyngn.com

Twitter: twitter.com/cyngn

LinkedIn: https://www.linkedin.com/company/cyngn

YouTube: https://www.youtube.com/@cyngnhq

https://www.prnewswire.com/news-releases/cyngn-scales-up-commercialization-of-autonomous-vehicle-solutions-in-first-quarter-2024-302147277.html

https://www.prnewswire.com/news-releases/cyngn-granted-extension-for-continued-listing-on-nasdaq-302067909.html

 https://www.vox.com/2017/10/12/16465168/cyanogen-android-cyngn-autonomous-vehicles

 https://www.prnewswire.com/news-releases/cyngn-joins-john-deere-supply-base-302123835.html

https://www.cyngn.com/pr/robotlab-orders-initial-fleet-of-10-drivemod-tuggers-joins-cyngn-distributor-network

 https://www.cyngn.com/pr/cyngn-completes-initial-drivemod-tugger-deployment-with-rivian

 https://www.cyngn.com/pr/customer-renews-contract-as-cyngns-autonomous-vehicles-yield-4x-efficiency-gain

$10 Million Cash NO DEBT! https://www.prnewswire.com/news-releases/cyngn-reports-first-quarter-2024-financial-results-302138805.html

Recent Operating Highlights: 
Joined John Deere supply base. 
Completed initial DriveMod Tugger deployment with Rivian. 
Received a notice of allowance for a 20th U.S. patent (with 19 U.S. patents granted to-date). 
RobotLAB joined the Cyngn Distributor Network. 
Released first video footage of AI-powered autonomous DriveMod Tugger by Motrec. 
Renewed deployment contract with U.S. Continental, achieving 4x gains in efficiency. 
Announced that the next-gen DriveMod Kit will harness Nvidia AI computers. 
Financial Performance (Q1 2024): 
First quarter revenue was $5.5 thousand compared to $872.8 thousand in Q1 2023. 
Revenue in Q1 2024 consisted of EAS software subscriptions from DriveMod Stock chaser vehicle deployments. 
Total costs and expenses in Q1 2024 were $6.0 million, down from $6.7 million in Q1 2023. 
Decrease in G&A expenses due to personnel cost reduction and savings on general office expenses1. 
Growth Prospects: Cyngn aims to grow sales with target customers, including Deere, and streamline customer acquisition costs through advancements in mapping and deployment tools1.

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