Cyngn Inc. Q4 FY2021 earnings call

• Lior Tal highlighted recent milestones including pilot deployments with GL&F, strategic partnerships with vehicle manufacturers, talent acquisition, and the DriveMod kit. The video showcased customer applications of autonomous solutions for safety and sustainability.
• Don Alvarez reviewed financials: Total operating expenses for Q4 2021 were $3.6 million vs $2.3 million in prior year, net loss of $2.1 million in Q4 2021. For the year 2021, total operating expenses were $9.4 million vs $8.4 million in 2020, net loss $7.8 million. Cash and cash equivalents ended 2021 at $21.9 million, up from $6.1 million in 2020, with improved working capital and stockholders' equity post-IPO.

Cyngn is a pre-revenue company, and thus did not generate any revenue for the years ended December 31st, 2021 and 2020. There are no product segments with reported revenue as the company is in the pre-commercialization phase.

• Anticipate more news on partnerships and deployments in the coming weeks and months.
• Continued focus on getting vehicles into the hands of customers like GLF in 2022 to support scale deployment and recurring revenues.

• Forward-looking statements are subject to risks and uncertainties as outlined in SEC filings, including impact of COVID-19, market conditions, and changes in regulatory environment that could affect actual results differing from projections.

Q: Rommel Dionisio asked about business investments in near-term given new partnerships and feedback on recent activity.

A: Ben Landen, VP of Business Development, stated they are leveraging partnerships to meet demand from supply chain shortages and skilled labor needs, with GLF as an example of customers ready for commercialized autonomous vehicle products, and focus on getting vehicles to such customers in 2022