Company streamlines organization, expands AI-enabled operations and strengthens commercial execution Recent Operating Highlights: - Streamlined the organization and reduced management layers as part of a broader initiative to lower operating costs, increase accountability, and improve execution. - Expanded the use of AI-assisted tools across engineering and business operations to automate repeatable work, accelerate workflows, and increase productivity. - Implemented changes to sales leadership and commercial processes, increasing emphasis on opportunity qualification, pipeline accountability, and customers aligned with the DriveMod Tugger. - Continued aligning product development with the requirements of larger industrial customers, including interoperability, enterprise deployment capabilities, and greater customer control over autonomous vehicle workflows. MOUNTAIN VIEW, Calif., Aug. 12, 2026 /PRNewswire/ -- Cyngn (NASDAQ: CYN) today announced financial results for its second quarter ended June 30, 2026 and outlined a series of organizational and commercial initiatives designed to improve operating efficiency, sharpen execution, and position the company for scalable growth. During the quarter, Cyngn continued to see interest in its autonomous vehicle solutions; however, the pace of commercial execution was delayed relative to the Company's expectations. In response, Cyngn made changes to sales leadership and implemented a more disciplined commercial process focused on opportunity qualification, pipeline accountability, sales execution, and customers and applications that closely align with the capabilities and value proposition of the DriveMod Autonomous Tugger. Cyngn also took steps to reduce its operating cost structure and simplify the organization. The Company consolidated responsibilities, reduced management layers, and realigned resources around its highest-priority product, customer, and commercial initiatives. These actions are intended to create a leaner organization with greater accountability, faster decision-making, and a higher proportion of resources directly focused on product development, customer deployments, and revenue generation. These initiatives are consistent with a broader shift taking place across the technology sector as companies increasingly redesign their organizations