FX.co ★ Cyngn Inc. Q4 Loss increases, misses estimates

Cyngn Inc. (CYN) reported an increased loss in its fourth quarter compared to the same period last year, which did not meet Wall Street forecasts. The company's earnings amounted to a loss of $22.8 million, or $0.57 per share, up from a loss of $19.2 million, or $0.55 per share, in the fourth quarter of the previous year.

Analysts had previously predicted the company would lose $0.12 per share, according to data gathered by Thomson Reuters. It's worth mentioning that these estimates usually omit unique items.

The company's revenue for the quarter, however, showed a remarkable increase of 476.9%, rising to $1.5 million from $0.26 million in the previous year.

Here's a quick look at Cyngn Inc.'s earnings based on Generally Accepted Accounting Principles (GAAP) :

- Earnings for Q4: -$22.8 million compared to -$19.2 million last year.

- EPS for Q4: -$0.57 as against -$0.55 last year.

- Revenue for Q4: $1.5 million compared to $0.26 million last year.