Business Update from Lior Tal, CEO at Cyngn Inc. [Yahoo! Finance]
Cyngn Inc. (CYN)
Company Research
Source: Yahoo! Finance
Dear Shareholders, Customers, and Partners, I want to take this opportunity to put some of the recent press releases and milestones we announced in context and to provide an update on the progress we've made both operationally and technologically to accelerate revenues and position Cyngn for success. Market Opportunity Based on the number of relevant material handling vehicles sold per year (including forklifts) and DriveMod's retrofit capabilities, we identify a potential install base of 3.75 million vehicles globally. Given the cost of labor required to operate these vehicles in different geographies, we estimate an attractive market opportunity of over $268B This estimate takes into account our Enterprise Autonomy Suite (EAS) providing savings to customers relative to the fully burdened cost of vehicle operators. We believe the costs and difficulties associated with hiring and retaining material handling employees are proving to be a persistent issue for corporations, and
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CYN
News
- Cyngn Announces Date for First Quarter 2024 Financial ResultsPR Newswire
- Aegis Capital Corp. Acted as Sole Bookrunner on a $5 Million Underwritten Public Offering for Cyngn Inc. (NASDAQ:CYN)Accesswire
- Cyngn Announces Closing of $5.0 Million Firm Commitment Public Offering of Common StockPR Newswire
- Business Update from Lior Tal, CEO at Cyngn Inc.PR Newswire
- Cyngn Receives Notice of Allowance for 20th U.S. Patent for its AI-Powered Autonomous Vehicle SolutionsPR Newswire
CYN
Earnings
- 11/8/23 - Beat
CYN
Sec Filings
- 4/24/24 - Form 8-K
- 4/24/24 - Form 424B4
- 4/24/24 - Form EFFECT
- CYN's page on the SEC website