Form 8-K
8-K — Cyngn Inc.
Accession: 0001213900-26-088503
Filed: 2026-08-13
Period: 2026-08-12
CIK: 0001874097
SIC: 7371 (SERVICES-COMPUTER PROGRAMMING SERVICES)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — ea0301828-8k_cyngn.htm (Primary)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): August
12, 2026
CYNGN INC.
(Exact name of registrant as specified in charter)
Delaware
001-40932
46-2007094
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1344 Terra Bella
Mountain
View, CA 94043
(Address of principal executive offices) (Zip Code)
(650) 924-5905
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
CYN
The Nasdaq Stock Market LLC (The Nasdaq Capital Market)
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On August 12, 2026, Cyngn
Inc. issued a press release announcing its financial results for its second fiscal quarter ended June 30, 2026. The full text of the press
release is furnished herewith as Exhibit 99.1.
The information disclosed
under this Item 2.02, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be incorporated by reference into
any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act except as expressly
set forth in such filing.
Item 9.01 Financial Statements and Exhibits
Exhibit No.
Description
99.1
Press Release dated August 12, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
1
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: August 12, 2026
CYNGN INC.
By:
/s/ Natalie Russell
Natalie Russell
Chief Financial Officer
2
EX-99.1 — PRESS RELEASE DATED AUGUST 12, 2026
EX-99.1
Filename: ea030182801ex99-1.htm · Sequence: 2
Exhibit
99.1
Cyngn
Reports 2026 2nd Quarter Financial Results
Company
streamlines organization, expands AI-enabled operations and strengthens commercial execution
Recent
Operating Highlights:
● Streamlined
the organization and reduced management layers as part of a broader initiative to lower operating
costs, increase accountability, and improve execution.
● Expanded
the use of AI-assisted tools across engineering and business operations to automate repeatable
work, accelerate workflows, and increase productivity.
● Implemented
changes to sales leadership and commercial processes, increasing emphasis on opportunity
qualification, pipeline accountability, and customers aligned with the DriveMod Tugger.
● Continued
aligning product development with the requirements of larger industrial customers, including
interoperability, enterprise deployment capabilities, and greater customer control over autonomous
vehicle workflows.
MOUNTAIN
VIEW, Calif., August 12, 2026 — Cyngn (NASDAQ: CYN) today announced financial results for its second quarter ended June 30, 2026
and outlined a series of organizational and commercial initiatives designed to improve operating efficiency, sharpen execution, and position
the company for scalable growth.
During
the quarter, Cyngn continued to see interest in its autonomous vehicle solutions; however, the pace of commercial execution was delayed
relative to the Company’s expectations. In response, Cyngn made changes to sales leadership and implemented a more disciplined
commercial process focused on opportunity qualification, pipeline accountability, sales execution, and customers and applications that
closely align with the capabilities and value proposition of the DriveMod Tugger.
Cyngn
also took steps to reduce its operating cost structure and simplify the organization. The Company consolidated responsibilities, reduced
management layers, and realigned resources around its highest-priority product, customer, and commercial initiatives. These actions are
intended to create a leaner organization with greater accountability, faster decision-making, and a higher proportion of resources directly
focused on product development, customer deployments, and revenue generation.
These
initiatives are consistent with a broader shift taking place across the technology sector as companies increasingly redesign their organizations
around smaller teams, flatter management structures, and AI-enabled productivity. Several of the world’s largest technology and
financial services companies have announced organizational restructuring or workforce reductions during 2026 while increasing their focus
on operating efficiency, AI adoption, and concentrating resources on higher-priority growth opportunities.
As
part of this evolution, Cyngn has expanded the use of AI-assisted tools across engineering and business operations. The Company is using
these technologies to automate repeatable tasks, accelerate software development and analysis, improve internal workflows, and enable
employees to operate more efficiently. Cyngn believes these tools can allow a leaner organization to maintain or improve output while
directing a greater portion of its resources toward differentiated technology and commercial execution.
On
the product side, Cyngn continues to concentrate development on capabilities required for broader enterprise adoption of autonomous industrial
vehicles. This includes interoperability with customer systems, enterprise deployment and fleet-management requirements, and capabilities
that provide customers with greater flexibility and control over autonomous workflows. The Company believes this increasingly focused
product strategy, together with a more efficient operating structure and disciplined commercial organization, strengthens Cyngn’s
ability to convert customer interest into scalable deployments faster and at a larger scale.
As
part of its ongoing commitment to strong corporate governance, Cyngn engaged Baker Tilly US, LLP, a top-ten U.S. accounting firm, as
its independent registered public accounting firm, and Kaufman & Canoles, P.C., a leading business law firm, as outside legal counsel,
positioning the Company’s financial reporting and legal infrastructure to support its continued growth.
The
Federal Communications Commission added new imports of foreign-made humanoid and quadruped robots to its national security Covered List.
Cyngn believes this shift in the regulatory landscape reflects a broader effort to strengthen domestic industrial robotics capabilities
and reduce reliance on foreign-made autonomous technology. This regulatory shift specifically limits the ability of Chinese manufacturers
to sell autonomous robotic products into the U.S. market. As a U.S.-based developer and manufacturer of autonomous industrial vehicles,
Cyngn is well positioned to serve customers seeking domestically developed automation solutions amid this evolving policy environment.
2
Q2
2026 Six Month Financial Review:
Year-to-date
second quarter revenue was $249 thousand compared to $80.9 thousand in the six months ended June 30, 2025. Similar to prior year, year-to-date
2026 revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments.
Total
costs and expenses for the six months ended June 30, 2026 were $13.9 million, an increase of $3.1 million or 29% from $10.8 million for
the six months ended June 30, 2025. This increase was due to a $2.0 million increase in research and development (R&D), primarily
due to personnel costs driven by the change in accounting estimate related to capitalized software. In addition, the company experienced
a $1.1 million increase in general and administrative (G&A) expenses, primarily driven by an increase in board of director’s
pay in lieu of the equity component of the director compensation program for 2025 and an increase in marketing and advertising expenses.
There was an increase of $117.6 thousand in cost of revenue due to the deployment costs being recognized over the life of the awarded
contracts. For the six months ended June 30, 2026, other income (expense), net was $0.9 million compared to $1.4 million for the six
months ended June 30, 2025. The decrease in other income was primarily driven by the fair value measurement of warrants issued in the
first quarter of 2025.
Net
loss for the six months ended June 30, 2026 was $(12.8) million compared to $(9.4) million in the six months ended June 30, 2025.
Net loss per share for the six-month period was $(1.02), based on basic and diluted weighted
average shares outstanding of approximately 12.6 million. This compares to a net loss per share of $(5.90) for the six months
ended June 30, 2025, based on approximately 1.6 million basic and diluted weighted average shares
outstanding.
Q2
2026 Three Month Financial Review:
Revenue
in Q2 2026 was $144.5 thousand compared to $33.7 thousand in the second quarter of 2025. Similar to prior year, second quarter of 2026
revenue consisted of EAS software subscriptions from DriveMod tugger vehicle deployments.
Total
costs and expenses in the second quarter were $6.9 million, an increase of $1.4 million or 25% from $5.5 million in the second quarter
of 2025. This increase was due to a $1.2 million increase in research and development (R&D), primarily due to personnel costs driven
by the change in accounting estimate related to capitalized software. In addition, there was an increase of $72 thousand in cost of revenue
due to the deployment costs being recognized over the life of the awarded contracts. General and administrative (G&A) expenses remained
consistent year over year. For the second quarter of 2026, other income (expense), net was $0.4 million compared to $0.05 million in
the second quarter of 2025. The increase in other income was primarily driven by income from short-term investments.
Net
loss for the second quarter was $(6.4) million compared to $(5.4) million in the corresponding quarter of 2025. Second quarter net loss
per share was $(0.45), based on basic and diluted weighted average shares outstanding of approximately 14.1 million in the quarter. This
compares to a net loss per share of $(2.70) in the second quarter of 2025, based on approximately 2.0 million basic and diluted weighted
average shares outstanding.
Balance
Sheet Highlights:
Cyngn’s
unrestricted cash and short-term investments as of June 30, 2026 totaled $39.7 million compared to $34.7 million as of December 31, 2025.
At the end of the same period, working capital was $41.3 million and total stockholders’ equity was $44.6 million, as compared
to year-end working capital of $35.7 million and total stockholders’ equity of $38.8 million, respectively as of December 31, 2025.
The Company had no debt as of June 30, 2026 and December 31, 2025 and to date, no member of the current management team has sold any
shares of the Company’s stock.
3
CYNGN
INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS (Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Revenue
$ 144,459
$ 33,726
$ 249,032
$ 80,878
Costs and expenses
Cost of revenue
88,983
16,944
146,333
28,758
Research and development
3,153,551
1,970,125
6,042,803
4,077,034
General and administrative
3,655,928
3,548,522
7,755,670
6,691,984
Total costs and expenses
6,898,462
5,535,591
13,944,806
10,797,776
Loss from operations
(6,754,003 )
(5,501,865 )
(13,695,774 )
(10,716,898 )
Other income (loss), net
Interest income, net
21,594
(197,992 )
43,664
(123,173 )
Change in fair value of warrant liabilities
‒
‒
‒
1,136,677
Other income, net
377,899
251,545
810,841
343,435
Total other income (loss), net
399,493
53,553
854,505
1,356,939
Net loss
$ (6,354,510 )
$ (5,448,312 )
$ (12,841,269 )
$ (9,359,959 )
Net loss per share attributable to common stockholders, basic and diluted
$ (0.45 )
$ (2.70 )
$ (1.02 )
$ (5.90 )
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted
14,109,819
2,017,228
12,567,770
1,586,453
4
CYNGN
INC.
CONSOLIDATED
BALANCE SHEETS (Unaudited)
June 30,
December 31,
2026
2025
ASSETS
CURRENT ASSETS
Cash and cash equivalents
$ 2,228,211
$ 990,023
Short-term investments
37,471,239
33,736,091
Accounts and other receivables
1,345,455
1,544,213
Inventory
1,656,645
2,039,655
Prepaid expenses and other current assets
1,255,536
885,800
TOTAL CURRENT ASSETS
43,957,086
39,195,782
NON-CURRENT ASSETS
Property and equipment, net
3,710,626
3,268,196
Right of use asset, net
5,536,958
5,971,800
Intangible assets, net
452,717
466,223
Other non-current assets
1,311,971
1,151,214
TOTAL NON-CURRENT ASSETS
11,012,272
10,857,433
TOTAL ASSETS
$ 54,969,358
$ 50,053,215
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable
$ 168,602
$ 217,439
Deferred revenue
555,368
395,348
Current operating lease liability
844,728
312,365
Accrued expenses and other current liabilities
1,120,896
2,615,734
TOTAL CURRENT LIABILITIES
2,689,594
3,540,886
NON-CURRENT LIABILITIES
Non-current deferred revenue
1,710,044
1,262,667
Non-current operating lease liability
5,977,917
6,495,256
TOTAL NON-CURRENT LIABILITIES
7,687,961
7,757,923
TOTAL LIABILITIES
10,377,555
11,298,809
Commitments and Contingencies (Note 13)
STOCKHOLDERS’ EQUITY
Common stock, Par $0.00001; 400,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 14,423,281 and 7,974,380 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
144
80
Additional paid-in capital
274,255,399
255,576,797
Accumulated deficit
(229,663,740 )
(216,822,471 )
TOTAL STOCKHOLDERS’ EQUITY
44,591,803
38,754,406
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$ 54,969,358
$ 50,053,215
5
CYNGN
INC.
CONSOLIDATED
STATEMENTS OF CASH FLOWS (Unaudited)
Six Months Ended
June 30,
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$ (12,841,269 )
$ (9,359,959 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
625,516
603,116
Stock-based compensation
762,772
993,131
Realized gain on short-term investments
(18,168 )
(85,117 )
Accretion on short-term investments
(817,877 )
(231,207 )
Loss on disposed assets
1,246
10,426
Change in fair value of warrant liability
‒
(1,136,677 )
Change in assets and liabilities:
Accounts and other receivables
198,758
(583,572 )
Inventory
383,010
(835,481 )
Prepaid expenses, operating lease right-of-use assets, and other assets
(530,492 )
(1,534,109 )
Accounts payable
(48,837 )
(71,509 )
Deferred revenue
607,397
(6,918 )
Accrued expenses, lease liabilities, and other current liabilities
(1,479,815 )
(532,487 )
Net cash used in operating activities
(13,157,759 )
(12,770,363 )
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment
(615,911 )
(352,853 )
Acquisition of intangible asset
(4,933 )
(1,186,659 )
Purchase of short-term investments
(47,063,318 )
(30,805,799 )
Proceeds from maturity of short-term investments
44,164,215
23,230,501
Net cash used in investing activities
(3,519,947 )
(9,114,810 )
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from at-the-market equity financing, net of issuance costs
9,166,427
‒
Proceeds from public issuance of common stock, net of offering costs
8,749,467
29,611,678
Issuance costs for public issuance of common stock and pre-funded warrants and exercise of pre-funded warrants
‒
(1,025 )
Net cash provided by financing activities
17,915,894
29,610,653
Net increase in cash and cash equivalents
1,238,188
7,725,480
Cash and cash equivalents at beginning of period
990,023
23,617,733
Cash and cash equivalents at end of period
$ 2,228,211
$ 31,343,213
Supplemental disclosure:
Acquisition of right-of-use asset in exchange for new operating lease obligation
$ ‒
$ 6,411,127
6
About
Cyngn
Cyngn
develops and deploys autonomous vehicle technology for industrial organizations like manufacturers and logistics companies. The Company
addresses significant challenges facing industrial organizations today, such as labor shortages and costly safety incidents.
Cyngn’s
DriveMod technology empowers customers to seamlessly bring self-driving technology to their operations without high upfront costs or
infrastructure installations. DriveMod is currently available on Motrec MT-160 Tuggers.
The
DriveMod Tugger hauls up to 12,000 lbs, travels inside and out, and targets a typical payback period of less than 2 years.
Investor
Contact:
Natalie
Russell
CFO
investors@cyngn.com
Media
Contact:
Luke
Renner
Head
of Marketing
media@cyngn.com
Where
to Find Cyngn:
● Website:
https://cyngn.com
● X:
https://x.com/cyngn
● LinkedIn:
https://www.linkedin.com/company/cyngn
● YouTube:
https://www.youtube.com/@cyngnhq
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that
is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “expects,”
“anticipates,” “believes,” “will,” “will likely result,” “will continue,”
“plans to,” “potential,” “promising,” and similar expressions. These statements are based on management’s
current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results
to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in
the Company’s reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed
in the Company’s annual report on Form 10-K filed with the SEC on March 26, 2026. Readers are cautioned that it is not possible
to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can
be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events, or otherwise.
7
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- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
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dei_LocalPhoneNumber
Namespace Prefix:
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Data Type:
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Balance Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
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Namespace Prefix:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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Name:
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Namespace Prefix:
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Data Type:
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Period Type:
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- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
dei:tradingSymbolItemType
Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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