Cyngn Inc.

Cyngn Inc. reported a significant increase in revenue for the first quarter of 2026, reaching $104,573, a 121.7% rise year-over-year. Despite this growth, the company's net loss widened to $(6.5) million from $(3.9) million in the prior year, though net loss per share improved to $(0.59) due to increased outstanding shares. The company substantially bolstered its liquidity by raising $17.9 million through equity financing, ending the quarter with $5.1 million in cash and $39.2 million in short-term investments.

Cyngn Inc. (CYN) announced the appointment of Baker Tilly US, LLP as its new independent registered public accounting firm, effective April 3, 2026, replacing CBIZ CPAs P.C. The change was approved by the Audit Committee and Board of Directors. The company reported no disagreements with CBIZ on accounting principles or practices, financial statement disclosure, or auditing scope or procedures. However, the filing noted a 'reportable event' concerning material weaknesses in internal control over financial reporting for the year ended December 31, 2025, previously disclosed in its Form 10-K.