Cyngn Inc Reports Results For The Quarter Ended In January 1: Earnings Summary

Cyngn

07/11/2024 05:12

* CYNGN Inc  CYN.OQ  reported a quarterly adjusted loss of
$2.74​​
per share for the quarter ended January 1, higher than the same
quarter last year, when the company reported EPS of $-14.00. 
The mean expectation of two analysts for the quarter was for a
loss of $3.56 per share. Wall Street expected results to range
from $-3.94 to $-3.19 per share.
    * Revenue rose 90.4% to $48.00 thousand from a year ago;
analysts
expected $725.00 thousand. 
    * CYNGN Inc's reported EPS for the quarter was a loss of
$2.74​.
    * The company reported a quarterly loss of $5.43 million.
    * CYNGN Inc shares had fallen by 0.3% this quarter and
lost 73.2%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 36.3%
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
$153.35 
This summary was machine generated from LSEG data November 7 at
05:12 a.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
 Sep. 30 2024      -3.56          -2.74          Beat
 Jun. 30 2024      -8.00          -4.11          Beat
 Mar. 31 2024      -6.00          -8.00          Missed
 Dec. 31 2023      -12.00         -12.00         Met