Cyngn Inc. (NASDAQ:CYN) said its first-quarter 2026 sales are on pace to surpass the company’s total revenue generated during 2025, based on its current bookings and sales pipeline, according to a press release issued today.
The announcement comes as the company’s shares trade around $1.60, giving it a market capitalization of about $12.76 million. The stock has declined roughly 58% over the past year.
Cyngn reported that orders for its DriveMod Tugger vehicles tripled in 2025 compared with the previous year. Autonomous operating hours across customer facilities also rose significantly, increasing more than 113% during the second half of 2025 as deployments expanded. The company previously reported revenue growth of 348% over the twelve months through the third quarter of 2025.
Marty Petratis said the rising demand reflects enterprise manufacturers moving from initial pilot programs toward full-scale deployments. Companies often begin by automating a single internal material transport route and later expand to additional workflows and vehicles once reliability has been proven.
Cyngn’s DriveMod Tugger is capable of towing loads of up to 12,000 pounds and is designed to achieve a return on investment in under two years. The autonomous vehicles are primarily used in manufacturing facilities and distribution centers to handle internal logistics operations.
The company recently introduced a simulation environment based on NVIDIA Isaac Sim to accelerate the validation and development of its autonomous systems. Cyngn also offers its DriveMod technology integrated into forklifts produced by BYD for selected customers.
Petratis added that Cyngn has adopted automation and artificial intelligence-driven workflows within its own operations, allowing teams to increase productivity without expanding headcount.
The company’s autonomous driving technology is currently deployed on Motrec MT-160 tuggers and BYD forklifts. Its DriveMod Forklift system is designed to handle heavy loads, including non-standard pallet formats.
In other recent developments, Cyngn has reported increased orders for its autonomous DriveMod Tuggers from existing enterprise and Fortune 100 customers, who have expanded deployments by adding vehicles and extending operations across additional routes and facilities.
The company also recently secured a commercial agreement to deploy its DriveMod Tugger at a WEG manufacturing facility in Bluffton, Indiana, where the vehicles will transport electric motor components between machining areas and warehouse operations.
Cyngn also announced the issuance of a new U.S. patent covering a system for real-time vehicle identification used in autonomous driving. With this addition, the company’s intellectual property portfolio now includes 24 U.S. patents.
Separately, the company appointed former Lyft executive Ran Makavy to its board of directors, bringing experience in scaling technology platforms and forming strategic partnerships.
Cyngn has also expanded its collaboration with NVIDIA through the development of its Isaac Sim-based simulation environment, designed to speed up testing and refinement of its autonomous vehicle technologies as the company continues to expand its presence in the industrial automation market.