Cyngn Inc Reports Results For The Quarter Ended In December: Earnings Summary

Cyngn

06/03/2024 22:44

* CYNGN Inc  CYN.OQ  reported a quarterly adjusted loss
of 12
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of -15
cents.  The mean expectation of two analysts for the quarter was
for a loss of 12 cents per share. Wall Street expected
results to range from -14 cents to -10 cents per share.
    * Revenue fell 84.6% to $40.36 thousand from a year ago;
analysts
expected $75.00 thousand. 
    * CYNGN Inc's reported EPS for the quarter was a loss of 12
cents​.
    * The company reported a quarterly loss of $5.36 million.
    * CYNGN Inc shares had risen by 38.2% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 25% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "buy"

Wall Street's median 12-month price target for CYNGN Inc is
$2.70 
This summary was machine generated from LSEG data March 6 at
10:43 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.12          -0.12          Met
 Sep. 30 2023      -0.16          -0.14          Beat
 Jun. 30 2023      -0.17          -0.17          Met
 Mar. 31 2023      -0.17          -0.15          Beat