Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Cyngn Inc.CYN · business equipment
GradeBearEweakest fifth of 497 graded peers; percentile 96.2, sampling error 2.2 points; lower is stronger
Rank478 of 497
ProfitabilityEpercentile 90.3
SolvencyDpercentile 62.3
Growth and financingDpercentile 64.4
Reliability0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025
Peer failure rate1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$12.5M to $120M assetstotal assets $50.1M[1]
Standard universeoutsiderevenue above $1M and assets above $10M[1-2]
Warningsdilution, short runway, late filer, distressnot computable: fortress balance sheet
Inputs computable8 of 14
Graded fromfilings received through Mar 27, 2026196 days before the rescan; every figure keyed to the SEC receipt date
Last close$0.582026-10-08; market equity $8.4M; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$5NovDecJanFebMarAprMayJunJulAugSepOctE$0.55
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Apr 21, 2022nonen/aQ2
Apr 21, 2026E91.5Q2

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Mar 27, 2026; the document on sec.gov.

vehicle (“AV”) technology company that is focused on addressing industrial uses for autonomous vehicles. We believe that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial industry challenges that exist today. These challenges include labor shortages, high labor costs, and work safety. autonomous driving software, DriveMod, onto vehicles manufactured by Original Equipment Manufacturers (“OEM”) by integration directly into vehicle assembly.

Warnings [top]

Dilution. split-adjusted year-over-year share growth is 676.8%[3-4]
Short runway. cash runway is 1.1 months[5]
Late filer. found 1 NT 10-K/Q filings in the last eight quarters
Distress. CHS probability 3.424122%; universe top-decile threshold 1.068854%

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 90.3
Gross profitability0.2%[1-2,6]28.5%94.65582025-12-31
Return on invested capitalnot computable10.9%
one or more required annual facts are missing
Accruals ratio0.3%[1,7-9](7.4%)86.06212025-12-31
Gross margin stability, five yearsnot computable2.4 pts
five annual gross margins are required; found 4
Solvency, sleeve percentile 62.3
Twelve-month failure probability3.42%0.05%97.01012026-06-30
Altman Z double-prime(9.38)[1,10-15]2.1880.75662025-12-31
Net debt to EBITDAnot computable1.11x
one or more required annual facts are missing
Interest coveragenot computable3.77x
one or more required annual facts are missing
Current ratio8.29x[10-11]2.02x9.36662025-12-31
Growth and financing, sleeve percentile 64.4
Revenue growth, three-year compound(5.8%)[2,16-18]6.4%81.45382025-12-31
Free cash flow growth, three-year compoundnot computable17.2%
four consecutive annual FCF observations are required; found 3
Reinvestment ratenot computable14.3%
required facts have no common fiscal period end
Asset growth, three years25.2%[1,9,19-20]5.0%12.85632025-12-31
Net share issuance, one year676.8%[3-4]0.5%99.04072026-03-26

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.510; sampling error 2.2 percentile points on 497 peers.

Among 497 Peers [top]

ABCDENVDA, Nvidia Corp.; A, percentile 3.0; market equity $5.6T; warnings: fortress balance sheetNVDAMSFT, Microsoft Corp.; A, percentile 8.7; market equity $3.9TMSFTAMD, Advanced Micro Devices Inc.; A/B, percentile 20.2; market equity $1.0T; warnings: fortress balance sheetAMDAAPL, Apple Inc.; B, percentile 35.5; market equity $5.0TAAPLMU, Micron Technology Inc.; B/C, percentile 40.9; market equity $1.2TMUAVGO, Broadcom Inc.; C, percentile 53.2; market equity $1.7TAVGOCYN 96.2strongerweaker

Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.

RankCompanyPercentileLetterWarnings
473Waystar Holding Corp. (WAY)

Waystar Holding Corp. (WAY)

Eweakest fifth; percentile 95.2

Nasdaq · Services-Computer Integrated Systems Design

market equity $5.1B; last close $26.48

No active warnings; 7 of 14 inputs

95.2E
474ChargePoint Holdings, Inc. (CHPT)

ChargePoint Holdings, Inc. (CHPT)

Eweakest fifth; percentile 95.4

NYSE · Miscellaneous Electrical Machinery, Equipment & Supplies

market equity $218.3M; last close $8.12

No active warnings; 9 of 14 inputs

95.4E
475Peraso Inc. (PRSO)

Peraso Inc. (PRSO)

Eweakest fifth; percentile 95.6

Nasdaq · Semiconductors & Related Devices

market equity $6.4M; last close $0.45

Warnings: dilution; 8 of 14 inputs

95.6Edilution
476Microchip Technology Inc. (MCHP)

Microchip Technology Inc. (MCHP)

Eweakest fifth; percentile 95.9

Nasdaq · Semiconductors & Related Devices

last close $75.54

No active warnings; 10 of 14 inputs

95.9E
477Microchip Technology Inc. (MCHPP)

Microchip Technology Inc. (MCHPP)

Eweakest fifth; percentile 95.9

Nasdaq · Semiconductors & Related Devices

last close $64.82

No active warnings; 10 of 14 inputs

95.9E
478Cyngn Inc. (CYN)

Cyngn Inc. (CYN)

Eweakest fifth; percentile 96.2

Nasdaq · Services-Computer Programming Services

market equity $8.0M; last close $0.58

Warnings: dilution, short runway, late filer, distress; 8 of 14 inputs

96.2Edilution, short runway, late filer, distress
479FTC Solar, Inc. (FTCI)

FTC Solar, Inc. (FTCI)

Eweakest fifth; percentile 96.4

Nasdaq · Semiconductors & Related Devices

market equity $31.8M; last close $1.94

Warnings: short runway, fortress balance sheet; 9 of 14 inputs

96.4Eshort runway, fortress balance sheet
480Ideal Power Inc. (IPWR)

Ideal Power Inc. (IPWR)

Eweakest fifth; percentile 96.6

Nasdaq · Semiconductors & Related Devices

market equity $60.6M; last close $3.69

Warnings: dilution, degenerate inputs, fortress balance sheet; 7 of 14 inputs

96.6Edilution, degenerate inputs, fortress balance sheet
481Bionano Genomics, Inc. (BNGO)

Bionano Genomics, Inc. (BNGO)

Eweakest fifth; percentile 96.8

Nasdaq · Laboratory Analytical Instruments

market equity $17.2M; last close $1.47

Warnings: dilution, short runway, fortress balance sheet; 8 of 14 inputs

96.8Edilution, short runway, fortress balance sheet
482System1, Inc. (SST)

System1, Inc. (SST)

Eweakest fifth; percentile 97.0

NYSE · Services-Computer Programming, Data Processing, Etc.

last close $2.34

No active warnings; 7 of 14 inputs

97.0E
483Astrotech Corp. (ASTC)

Astrotech Corp. (ASTC)

Eweakest fifth; percentile 97.2

Nasdaq · Laboratory Analytical Instruments

market equity $13.7M; last close $6.89

Warnings: distress, fortress balance sheet; 9 of 14 inputs

97.2Edistress, fortress balance sheet
Peer policyLetterPercentilePeers
all graded filers, equal sleevesE95.62204
sector peers, equal sleeves (the grade)E96.2497
same exchange, equal sleevesE93.81219
sector peers, equal inputsE93.5497

Each letter is one fifth of the 497 graded peers, about 99 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month(82.6%)2.2%3hotter than 3 of 100 peers
Distance from 52-week high(90.8%)(30.0%)3closer to its high than 3 of 100 peers
EBIT to enterprise valuenot computable1.5%required accounting or market input is missing
Free cash flow yield(311.9%)2.7%1pricier than 99 of 100 peers
Book value to price5.610.2398pricier than 2 of 100 peers
Sales to price0.030.304pricier than 96 of 100 peers
Composite equity issuance, five yearsnot computable3.9%a share count from five years earlier is required
Relative strength against the sector, log excess return(2.03)(0.26)3ahead of 3 of 100 peers

Inputs: market equity $8.0M; EBIT -$25.7M; free cash flow -$24.8M; book equity $44.6M; sales $218,976; cash $2.2M[21].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zero(78.0%)✗ fail[7,9]
Operating cash flow above zero-$23.6M✗ fail[8]
Return on assets improved177.8 pts✓ pass[7,9,19,22]
Operating cash flow exceeds net income-$107,383✗ fail[7-8]
Long-term leverage felln/a[1,9,19]
Current ratio improved85.3 pts✓ pass[10-11,23-24]
No new shares issued676.8%✗ fail[3-4]
Gross margin improved83.5 pts✓ pass[2,6,16,25]
Asset turnover improved(2.1 pts)✗ fail[2,9,16,19]
Cash, filings, liquidity
Cash and equivalents$2.2M[5]
Operating cash flow, four quarters-$24.0M[5,8,26-29]
Months of runway1.1
Late filings, two years1
NT 10-K or NT 10-Q
Days since last periodic filing57
10-Q received Aug 13, 2026
Median daily dollar volume$125,611
63 sessions
Days since newest grade input196

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$50.1M2025-12-312026-03-2710-Kfiling · viewer · series
2revenueus-gaap:Revenues$218,9762025-12-312026-03-2710-Kfiling · viewer · series
3shares outstandingdei:EntityCommonStockSharesOutstanding13,608,2812026-03-262026-03-2710-Kfiling · viewer · series
4shares outstandingdei:EntityCommonStockSharesOutstanding1,751,9062025-03-062025-11-1410-K/Afiling · viewer · series
5cashus-gaap:CashAndCashEquivalentsAtCarryingValue$2.2M2026-06-302026-08-1310-Qfiling · viewer · series
6cost of revenueus-gaap:CostOfRevenue$135,7492025-12-312026-03-2710-Kfiling · viewer · series
7net incomeus-gaap:NetIncomeLoss-$23.5M2025-12-312026-03-2710-Kfiling · viewer · series
8operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$23.6M2025-12-312026-03-2710-Kfiling · viewer · series
9assetsus-gaap:Assets$30.1M2024-12-312026-03-2710-Kfiling · viewer · series
10current assetsus-gaap:AssetsCurrent$39.8M2025-12-312026-03-2710-Kfiling · viewer · series
11current liabilitiesus-gaap:LiabilitiesCurrent$4.8M2025-12-312026-03-2710-Kfiling · viewer · series
12retained earningsus-gaap:RetainedEarningsAccumulatedDeficit-$216.8M2025-12-312026-03-2710-Kfiling · viewer · series
13operating incomeus-gaap:OperatingIncomeLoss-$25.7M2025-12-312026-03-2710-Kfiling · viewer · series
14book equityus-gaap:StockholdersEquity$38.8M2025-12-312026-03-2710-Kfiling · viewer · series
15liabilitiesus-gaap:Liabilities$11.3M2025-12-312026-03-2710-Kfiling · viewer · series
16revenueus-gaap:Revenues$368,1382024-12-312026-03-2710-Kfiling · viewer · series
17revenueus-gaap:Revenues$1.5M2023-12-312025-11-1410-K/Afiling · viewer · series
18revenueus-gaap:Revenues$262,0002022-12-312024-03-0710-Kfiling · viewer · series
19assetsus-gaap:Assets$13.0M2023-12-312025-11-1410-K/Afiling · viewer · series
20assetsus-gaap:Assets$25.5M2022-12-312024-03-0710-Kfiling · viewer · series
21shares outstandingdei:EntityCommonStockSharesOutstanding14,423,2812026-08-132026-08-1410-Q/Afiling · viewer · series
22net incomeus-gaap:NetIncomeLoss-$33.3M2024-12-312026-03-2710-Kfiling · viewer · series
23current assetsus-gaap:AssetsCurrent$25.6M2024-12-312026-03-2710-Kfiling · viewer · series
24current liabilitiesus-gaap:LiabilitiesCurrent$3.4M2024-12-312026-03-2710-Kfiling · viewer · series
25cost of revenueus-gaap:CostOfRevenue$535,7082024-12-312026-03-2710-Kfiling · viewer · series
26operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$13.2M2026-06-302026-08-1310-Qfiling · viewer · series
27operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$8.4M2026-03-312026-05-1410-Qfiling · viewer · series
28operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$16.8M2025-09-302025-11-1910-Qfiling · viewer · series
29operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$12.8M2025-06-302026-08-1310-Qfiling · viewer · series

Limitations [top]

Grade boundary. Percentile 96.2 is 16.2 points from the nearest band edge; sampling error is 2.2 points.

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026