Similar companies
Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 8,700 | 57.2% |
| Gross Profit | -6,300 | 94.2% |
| Cost of Revenue | 15,000 | 86.9% |
| Operating expense | 5.8M | 5.9% |
| Net Income | -5.8M | 2.5% |
| EBITDA | -5.8M | 2.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 12M | 21.8% |
| Total Liabilities | 2.2M | 22.2% |
| Total Equity | 9.7M | 21.7% |
| Shares Outstanding | 1.8M | 98% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | -4.4M | 25.4% |
| Cash from investing | 1.2M | 33.6% |
| Cash from financing | 6.9M | 161.5% |
EPS
Financial Highlights for Cyngn in Q2 '24
Cyngn reported a revenue of 8,700, which is a 57.2% 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 -6,300, marking a 94.2% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 15,000, a -86.9% 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 5.8M, showing a -5.9% 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 -5.8M, showing a 2.5% 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 -5.8M, showing a 2.6% 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.
It was a positive quarter for Cyngn with growth in revenue, gross profit, and net income.
