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

Cyngn

08/08/2024 12:16

* CYNGN Inc  CYN.OQ  reported a quarterly adjusted loss of
$4.11​​
per share for the quarter ended in June, higher than the same
quarter last year, when the company reported EPS of $-17.27. 
The lone analyst forecast for the quarter was for a loss of
$8.00 per share. 
    * Revenue fell 98.4% to $8.67 thousand from a year ago;
analysts
expected $540.00 thousand. 
    * CYNGN Inc's reported EPS for the quarter was a loss of
$4.11​.
    * The company reported a quarterly loss of $5.82 million.
    * CYNGN Inc shares had fallen by 32.5% this quarter and
lost 65.9%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 14.3%
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
$217.00 
This summary was machine generated from LSEG data August 8 at
11:16 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
 Jan. 1 0001       -8.00          -4.11          Beat
 Mar. 31 2024      -6.00          -8.00          Missed
 Dec. 31 2023      -12.00         -12.00         Met
 Sep. 30 2023      -16.36         -14.00         Beat