Cyngn Inc. (CYN) Stock

Cyngn Inc. (CYN) is a Technology stock trading at $1.08 (as of 2026-08-21), with a market capitalization of $15.65M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cyngn Inc. develops autonomous driving software for enterprise use. Its product offerings include a modular vehicle autonomy software, a suite for monitoring and managing autonomous vehicle fleets and aggregating/analyzing related data, and internal tools and simulation capabilities supporting AI/ML training and model validation for releases.

Understand Cyngn Inc.: how it makes money

Cyngn develops autonomous driving software, including its Enterprise Autonomy Suite (DriveMod for industrial vehicles, Cyngn Insight for AV fleet monitoring, and Cyngn Evolve for AI training and simulation), and aims to monetize it through EAS software subscriptions tied to DriveMod deployments and through non-recurring engineering development contracts.

The profit model is tied to whether Cyngn can convert its Enterprise Autonomy Suite progress into recurring EAS software subscription revenue linked to DriveMod deployments, since current reported revenue is 0 in the latest quarter and operating results are therefore dominated by development costs.

Business quality (Weak): Clear technology and customer-facing product direction (DriveMod deployments and fleet monitoring tools), but the latest quarter shows 0 reported revenue and a very large operating loss, so execution and commercialization timing are the key uncertainty.

Valuation: Trades at 1× trailing earnings · $0B market cap.

Bull case

Deployment traction with enterprise customers: Cyngn reported 5 DriveMod Tugger deployments with major automotive original equipment manufacturers and tier-one suppliers.
Early commercial demand signals: Cyngn reported a pre-order quantity of 100 Drive Mode-enabled autonomous forklifts.
Ongoing IP creation: Cyngn reported 24 U.S. patents issued and 22 U.S. patents secured for artificial intelligence-powered autonomous vehicle technologies.
Gross margin present in the latest quarter: Gross margin was 45.2% for the quarter ended 2026-03-31.

Bear case

No reported revenue in the latest quarter: Total revenue was 0.0 for the quarter ended 2026-03-31, which limits visibility into near-term monetization.
Very large operating loss: Operating margin was -6638.2% for the quarter ended 2026-03-31.
Development intensity: Headcount including full time contractors was 81, which suggests ongoing operating expense even before revenue scales.
Contract and subscription timing risk: The KPI for revenue from completion of the first phase of non-recurring engineering development contracts was 0.0 in the latest quarter, and DriveMod subscription-related revenue was also 0.0.

Valuation — source: SEC EDGAR (first-party)
Price	$1.08
Market Cap	$15.65M
Price / Book	0.35
Price / Sales	40.42
FCF Yield	-162.7%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$218976.00
Net Margin	-10717.7%
Revenue Growth (YoY)	328.3%
EPS Growth (YoY)	-83.3%
FCF Growth (YoY)	-21.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-6.13 (distress)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	29.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock Fund Advisors ($140.39M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Lior Tal
Employees	58
Country	US
IPO Date	2021-10-20

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.