STOCKHOLM, May 14, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) ("Neonode" or the "Company") today reported financial results for the three months ended March 31, 2025.FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2025: Revenues from continuing operations of $0.5 million, a decrease of 37.0% compared to the same period in the prior year. Operating expenses from continuing operations of $2.5 million, a decrease of 8.0% compared to the same period in the prior year. Loss from continuing operations of ...

Financial Performance - Total revenues for Q1 2025 were $513,000, a decrease of 37% compared to $814,000 in Q1 2024[12] - License fees revenue decreased to $497,000 in Q1 2025 from $773,000 in Q1 2024, representing a decline of 36%[12] - Net loss for Q1 2025 was $1,733,000, an improvement from a net loss of $2,084,000 in Q1 2024[12] - Basic and diluted net loss per share improved to $(0.10) in Q1 2025 from $(0.14) in Q1 2024[12] - Net revenues for the three months ended March 31, 2025 were $513, a decrease from $814 in the same period of 2024, representing a decline of approximately 37%[54] - Loss from continuing operations was $1.8 million for the three months ended March 31, 2025, compared to a loss of $1.7 million for the same period in 2024[54] - The company reported a net loss per share of $0.10 for the three months ended March 31, 2025, compared to a net loss per share of $0.14 for the same period in 2024[51] - Total costs and expenses for the three months ended March 31, 2025 were $2.478 million, a decrease from $2.704 million in the same period of 2024[54] Assets and Liabilities - Total current assets decreased to $16,261,000 as of March 31, 2025, down from $17,685,000 as of December 31, 2024[10] - Total liabilities increased to $2,397,000 as of March 31, 2025, compared to $1,939,000 as of December 31, 2024[10] - Cash and cash equivalents at the end of Q1 2025 were $14,991,000, down from $16,427,000 at the end of 2024[20] - Working capital as of March 31, 2025, was $14.1 million, compared to $16.1 million as of December 31, 2024[82] - The accumulated deficit as of March 31, 2025, was approximately $225.8 million, compared to $224.1 million as of December 31, 2024[85] Operating Expenses - Operating expenses for Q1 2025 totaled $2,469,000, a decrease from $2,683,000 in Q1 2024[12] - Research and development expenses increased to $975,000 in Q1 2025 from $895,000 in Q1 2024[12] - Sales and marketing expenses decreased by 21.3% to $642,000 for the three months ended March 31, 2025, compared to $816,000 in the same period in 2024, primarily due to lower payroll costs[75] - General and administrative expenses were $852,000 for the three months ended March 31, 2025, down 12.3% from $972,000 in the same period in 2024, mainly due to reduced payroll costs[77] Revenue Sources - The company recognized revenues of approximately zero and $27,000 related to contract liabilities for the three months ended March 31, 2025 and 2024, respectively[34] - License fees revenue was $497,000 for the three months ended March 31, 2025, down 35.7% from $773,000 in the same period in 2024, primarily due to lower demand in printer and passenger car applications[69] - Non-recurring engineering revenue decreased by 61.0% to $16,000 for the three months ended March 31, 2025, compared to $41,000 for the same period in 2024, attributed to fewer projects[70] Cash Flow - Operating activities used cash of approximately $1.4 million and $1.9 million for the three months ended March 31, 2025 and 2024, respectively[28] - Net cash used in operating activities for the three months ended March 31, 2025, was $1.4 million, compared to $1.9 million for the same period in 2024[83] - Net cash used in investing activities for the three months ended March 31, 2025, was approximately $40,000, primarily for the purchase of property and equipment[84] Internal Controls and Risks - The company identified a material weakness in internal controls over financial reporting related to insufficient information technology general controls, specifically regarding the segregation of duties and management override risks[111] - A second material weakness was noted concerning the lack of sufficient controls to prevent material misstatements in income tax calculations, with plans to implement extended controls[112] - Management acknowledged that controls can only provide reasonable assurance of achieving control objectives, emphasizing the importance of cost-benefit evaluations in control design[113] - There were no changes in internal control over financial reporting during the quarter ended March 31, 2025, that materially affected the internal control[114] - The company is not currently involved in any pending legal proceedings, although it may face ordinary course business disputes[116] - There have been no material changes to the risk factors previously disclosed in the Annual Report for the year ended December 31, 2024[117] Future Outlook - The company anticipates continued shipments of products incorporating its technology by current customers and expects to expand its customer base in 2025[63] - The ongoing geopolitical conflicts, including the war in Ukraine, may impact supply chains and economic conditions, potentially affecting the company's operations[66] - The company may require additional capital sources to continue operations and implement its strategy if operations do not become cash flow positive[88]

Financial Performance - Revenues from continuing operations were $0.5 million, a decrease of 37.0% compared to the same period in the prior year[6] - Operating expenses from continuing operations were $2.5 million, a decrease of 8.0% compared to the same period in the prior year[6] - Loss from continuing operations was $1.8 million, or $0.11 per share, compared to a loss of $1.7 million, or $0.11 per share for the same period in the prior year[9] - Net loss for the three months ended March 31, 2025, was $1,733 million, an improvement from a net loss of $2,084 million in the same period of 2024[25] Cash Flow and Liquidity - Cash used by operations was $1.4 million, down from $1.9 million for the same period in the prior year[9] - Net cash used in operating activities decreased to $1,360 million from $1,915 million year-over-year[25] - Cash and cash equivalents at the end of the period were $14,991 million, compared to $14,274 million at the end of the same period in 2024[25] - Cash paid for income taxes remained stable at $10 million for both periods[25] - Cash paid for interest decreased to $0 million from $1 million in the previous year[25] Revenue Breakdown - License revenues were $0.5 million, a decrease of 35.7% compared to the same period in 2024, primarily due to lower demand in the printer and passenger car touch applications[7] - Revenues from non-recurring engineering were $16,000, a 61.0% decrease compared to the same period in 2024[8] Assets and Liabilities - Cash and accounts receivable totaled $15.7 million as of March 31, 2025, compared to $17.2 million as of December 31, 2024[10] - Total assets decreased to $16.972 million as of March 31, 2025, down from $18.381 million as of December 31, 2024[17] - Accounts receivable and unbilled revenues showed a net change of $(5) million, improving from $(170) million year-over-year[25] - Inventory impairment loss was recorded at $0 million for the current period, a significant decrease from $278 million in the previous year[25] Operational Highlights - The company is focusing on expanding business opportunities and advancing its product roadmap across its core technology platforms: MultiSensing® and zForce®[3] - The CEO expressed optimism about the future, particularly regarding the zForce platform's potential in touch displays and rugged applications[4] Other Financial Metrics - Property and equipment obtained in exchange for finance lease obligations amounted to $28 million, compared to $0 million in the same period last year[25] - The effect of exchange rate changes on cash and cash equivalents resulted in a loss of $34 million, contrasting with a gain of $43 million in the previous year[25] - The company made principal payments on finance lease obligations totaling $2 million, down from $9 million in the same period last year[25]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the strategy of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Neonode (NEON) currently holding a Momentum Style Score of B [2][3] Group 2: Neonode's Performance Metrics - Neonode has a Zacks Rank of 2 (Buy), indicating strong potential for outperformance in the market [3] - Over the past week, NEON shares increased by 21.96%, significantly outperforming the Zacks Computer - Software industry, which rose by 5.93% [5] - In the last quarter, NEON shares rose by 45.96%, and over the past year, they surged by 483.18%, while the S&P 500 experienced declines of -8.61% and modest gains of 9.87% respectively [6] Group 3: Trading Volume and Earnings Outlook - NEON's average 20-day trading volume is 118,814 shares, which is a bullish indicator when combined with rising stock prices [7] - In terms of earnings estimates, NEON's consensus estimate improved from -$0.46 to -$0.32 over the past 60 days, with one upward revision and no downward revisions noted [9] Group 4: Conclusion - Given the strong performance metrics and positive earnings outlook, NEON is positioned as a promising investment opportunity with a Momentum Score of B [11]

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock aliv ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Neonode (NEON) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.Neonode is one of 609 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Za ...

Core Viewpoint - Neonode Inc. announced changes to its Board of Directors, with Didier Schreiber appointed as a Class I Director and Cecilia Edström resigning from the same position due to other commitments [1]. Group 1: Board Composition Changes - Didier Schreiber will join the Board as a Class I Director, bringing extensive experience from the automotive industry [1][2]. - Cecilia Edström will resign from her position as a Class I Director after serving from 2022 to 2025 [1][4]. Group 2: Didier Schreiber's Background - Didier Schreiber is the Owner and CEO of Rondiné Consulting and has held senior management roles at ZEEKR Technology EU AB/CEVT since 2014 [2]. - He holds a PhD in Combustion Technology from Ecole Centrale de Paris - Chalmers University of Technology, with applications on the Ariane rocket engine [2]. Group 3: Future Outlook - Schreiber expressed enthusiasm about joining Neonode's Board, highlighting the company's focus on technology and innovation, and its potential for profitable growth [3]. - Ulf Rosberg, Chairman of the Board, noted that Schreiber's automotive experience will be a significant asset during this pivotal phase for the company [4].

STOCKHOLM, March 26, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) a leading provider of embedded sensing technologies, is thrilled to announce that it has been named a winner in the 2025 Just Auto Excellence Awards, receiving recognition in the Innovation - Driver Monitoring Software category. The award celebrates Neonode's contributions to automotive safety and driver experience through its cutting-edge Hands-on-wheel application.Just Auto notified Neonode with the following statement: "We're delighted ...

STOCKHOLM, March 24, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) (the 'Company' or 'Neonode') today announced the appointment of Daniel Alexus as its new President and Chief Executive Officer, effective March 31, 2025. "Neonode is at a very important stage of its journey toward reshaping its business and becoming a profitable company focused on licensing proprietary technologies to leading suppliers and OEMs, and we are very pleased to welcome Daniel Alexus as the new President and CEO of the company. ...

Core Viewpoint - Neonode Inc. is transitioning from manufacturing Touch Sensor Modules to focusing on technology licensing, with expectations of future license revenues from ongoing customer projects [3][4]. Financial Summary - Revenues from continuing operations for fiscal 2024 were $3.1 million, an 18.8% decrease compared to 2023 [5]. - License revenues were $2.7 million, a decrease of 29.3% compared to 2023, primarily due to lower demand from legacy customers in printer and passenger car touch applications [5]. - Revenues from non-recurring engineering for fiscal 2024 were $0.4 million, a significant increase of 1,519.2% compared to 2023, driven by a DMS project with a commercial vehicle OEM and a new agreement with NEXTY Electronics [6]. Operating Performance - Operating expenses from continuing operations for fiscal 2024 were $9.5 million, a slight decrease of 0.2% compared to 2023 [6]. - Loss from continuing operations for fiscal 2024 was $5.9 million, or $0.37 per share, compared to a loss of $5.1 million, or $0.33 per share for 2023 [7]. Cash Flow and Financial Position - Cash used by operations was $5.6 million in fiscal 2024, down from $6.3 million in 2023, mainly due to reduced component purchases following the phaseout of TSM manufacturing [7]. - As of December 31, 2024, cash and accounts receivable totaled $17.2 million, compared to $16.8 million at the end of 2023, with working capital remaining stable at $16.1 million [8].