Cyngn Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023

Cyngn Inc. is an autonomous vehicle (AV) technology company that is focused on addressing industrial uses for autonomous vehicles. The Company integrates its full-stack autonomous driving software, DriveMod, onto vehicles manufactured by an original equipment manufacturer (OEM) either via retrofit of existing vehicles or by integration directly into vehicle assembly. It designs the Enterprise Autonomy Suite (EAS) to be compatible with sensors and components from hardware technology providers and integrates its proprietary AV software to produce differentiated autonomous vehicles. EAS is a suite of technologies and tools that is divided into three categories: DriveMod, Cyngn Insight and Cyngn Evolve. DriveMod is a modular industrial vehicle autonomous driving software. Cyngn Insight is a customer-facing tool suite for monitoring and managing AV fleets and generating/aggregating/analyzing data. Cyngn Evolve is an internal tool suite and infrastructure.