Cyngn Inc. (NASDAQ: CYN) announced its financial results for the third fiscal quarter ended September 30, 2026. The company reported revenue of $156,495 for the three months ended September 30, 2026, compared to $69,973 in the same period of 2025. Revenue for the nine months ended September 30, 2026, totaled $405,527, up from $150,851 during the same period in the prior year.
During the quarter, Cyngn announced a follow-on order from an existing Fortune 100 heavy equipment manufacturer. This order extends the company's DriveMod autonomous material handling technology into an additional assembly-line application. The company also launched DriveMod EasyLaunch, a deployment program offering qualifying customers one autonomous tugger, one route, and a single monthly payment without upfront capital investment.
In terms of financial performance, the company reported a net loss of $(5,959,616) for the third quarter of 2026, compared to a net loss of $(8,438,641) in the third quarter of 2025. For the nine months ended September 30, 2026, the net loss was $(18,800,885), compared to $(17,798,600) in the prior year. The weighted average shares outstanding used to calculate net loss per share were approximately 14.7 million for the third quarter of 2026 and approximately 13.3 million for the nine-month period.
Cyngn reported total costs and expenses of $6.6 million for the third quarter of 2026, a decrease of $1.9 million or 23% from the third quarter of 2025. This decrease was primarily driven by a $2.3 million reduction in research and development expenses, attributed to a change in accounting estimate related to capitalized software. General and administrative expenses increased by $195,100 during the quarter.
On the balance sheet, Cyngn ended the quarter with unrestricted cash and short-term investments totaling $34.9 million. The company reported no debt as of September 30, 2026. Working capital was reported as $34.3 million, and total stockholders' equity was $39 million.
The company also highlighted several operational milestones. Cyngn achieved ISO 27001 certification in September and completed its inaugural SOC 2 Type II examination with zero exceptions in October. The company noted that it has 24 issued U.S. patents.
