Cyngn Inc.

Recent Operating Highlights:

MOUNTAIN VIEW, Calif., March 25, 2026 — Cyngn (NASDAQ: CYN) announced operational progress and commercial momentum entering 2026, reflecting continued expansion of its autonomous vehicle deployments, customer base, and strategic initiatives.

In 2025, Cyngn made measurable progress across commercialization, deployment execution, and market expansion. The company tripled DriveMod Tugger bookings year-over-year, expanded deployments with customers including G&J Pepsi and Coats, and increased autonomous utilization as sites moved into fuller production use.

Cyngn also expanded its market reach and ecosystem. In the fourth quarter, the company entered the agriculture sector through a partnership with Chandler Automation, extending its dealer network into food processing and packaging environments. This expansion reflects a broader strategy of targeting industries with high-frequency, repetitive material handling workflows.

Across its installed base, Cyngn reported record expansion activity among enterprise and Fortune 100 customers. Deployments that began as single-route automation initiatives are increasingly scaling into multi-vehicle, multi-workflow implementations, reflecting validation of operational value and repeatability of the platform. This expansion dynamic contributed to accelerating commercial momentum, with the company indicating it is on track to generate more bookings in Q1 2026 than in all of 2025. Note: even as sales are on an upward trajectory, the company recognizes revenue when vehicles are deployed over the operational life of the vehicle.

Already this year, there have been a number of developments.

In January, the company strengthened its leadership and governance capabilities with the appointment of Ran Makavy to its Board of Directors. Makavy brings experience scaling growth and platform operations at Lyft and Facebook, aligning with Cyngn’s focus on converting product capability into broader market adoption.

In March, Cyngn completed a $9.65 million registered direct offering, providing additional liquidity to support ongoing operations and growth initiatives, extending its runway to 2028. The company also outlined new strategic pillars focused on mergers and acquisitions and asset-based balance sheet expansion, positioning Cyngn to pursue both organic and inorganic growth opportunities.

With expanding deployments, increasing customer adoption, strengthened intellectual property, and additional capital flexibility, Cyngn enters 2026 focused on scaling its commercial footprint and advancing autonomous vehicle adoption across industrial environments.