Cyngn Q1 Autonomous Missions Up 127%, Posts $105K Revenue and $6.5M Loss
CYN•Cyngn increased autonomous missions by 127% and driving time by 60% in Q1 2026, adding deployments at Vann Family Orchards and a WEG motor facility. The company posted $105,000 revenue, a $6.5 million net loss for Q1 and raised $9.65 million to fund operations into 2028.
1. Deployment Growth and Utilization
In Q1 2026, Cyngn expanded its enterprise footprint with new autonomous vehicle deployments at Vann Family Orchards and a WEG electric motor facility. Autonomous missions completed rose 127% year-over-year while total driving time increased over 60%, reflecting deeper integration across manufacturing, logistics, and agriculture sites.
2. Financial Performance
The company reported $105,000 in revenue versus $47,000 a year earlier, driven by software subscriptions from DriveMod tugger deployments. Total costs rose 34% to $7.1 million, resulting in a $6.5 million net loss (−$0.59 per share) compared to a $3.9 million loss (−$3.40 per share) in Q1 2025; unrestricted cash reached $44.4 million with no debt.
3. Funding and Strategic Initiatives
In March, Cyngn closed a $9.65 million registered direct offering, extending its cash runway into 2028. The company also secured its 24th U.S. patent, strengthened collaboration with NVIDIA Isaac Sim, and invested in on-prem fleet management capabilities to support larger and more complex customer operations.
