Similar companies
Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 48,000 | 449.2% |
| Gross Profit | -110,000 | 1652.7% |
| Cost of Revenue | 160,000 | 953.8% |
| Operating expense | 5.4M | 5.8% |
| Net Income | -5.4M | 6.7% |
| EBITDA | -5.5M | 5.2% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 8.5M | 28.9% |
| Total Liabilities | 1.8M | 17.7% |
| Total Equity | 6.6M | 31.5% |
| Shares Outstanding | 2M | 14.5% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -5.4M | 22.7% |
| Cash from investing | -400,000 | 134% |
| Cash from financing | 1.8M | 74.4% |
EPS
Financial Highlights for Cyngn in Q3 '24
Cyngn reported a revenue of 48,000, which is a 449.2% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -110,000, marking a -1652.7% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 160,000, a 953.8% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 5.4M, showing a -5.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -5.4M, showing a 6.7% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -5.5M, showing a 5.2% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Cyngn faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. An increase in the cost of revenue, higher than the revenue growth, suggests potential margin pressures.
