The record date for determining stockholder eligibility to vote at the Annual Meeting will remain the close of business on April 22, 2024. Proxies previously submitted will be voted at the Annual Meeting unless properly revoked, and stockholders who have already submitted a proxy or otherwise voted need not take any action. CONTACT: https://news.cision.com/neonode/r/neonode-announces-adjournment-of-annual-meeting-ofstockholders,c3999335 The Annual Meeting will reconvene on June 25, 2024 at 3:00 p.m. local t ...

STOCKHOLM, May 22, 2024 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) is pleased to announce the first license agreement for its Touch Sensor Module ("TSM") technology following the decision in December 2023 to transform its TSM business to a licensing business model. YesAR has selected the Neonode TSM technology for the development and manufacturing of holographic infotainment solutions. The agreement includes an upfront technology access fee and future royalties. To further strengthen its offering, YesAR, a ...

STOCKHOLM, May 8, 2024 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) ("Neonode" or the "Company") today reported financial results for the three months ended March 31, 2024. FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2024:       Revenue of $1.0 million, a decrease of 19.1% compared to the same period in the prior year. Operating expenses of $2.9 million, an increase of 3.3% compared to the same period in the prior year. Net loss of $2.1 million, or $0.14 per share, compared to $1.4 million, or $0.09 p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition report pursuant to section 13 or 15(d) of the Securities and Exchange Act of 1934 For the transition period from ________ to ________ Commission File Number: 001-35526 NEONODE INC. (Exact name of registrant as specified in its charter) | Delaware | 94-1517641 | | --- | --- | | ...

Neonode Q1 2024 Financial Results Press Release [Financial and Operational Highlights](index=1&type=section&id=FINANCIAL%20AND%20OPERATIONAL%20HIGHLIGHTS) Neonode's Q1 2024 revenue fell 19.1% to $1.0 million, primarily from reduced licensing fees, leading to a wider $2.1 million net loss amidst a strategic business model transition Q1 2024 Key Financial Metrics | Metric | Q1 2024 | Change vs. Q1 2023 | | :--- | :--- | :--- | | **Revenue** | $1.0 million | -19.1% | | **Operating Expenses** | $2.9 million | +3.3% | | **Net Loss** | $2.1 million | Increased from $1.4 million | | **Loss Per Share** | $0.14 | Increased from $0.09 | | **Cash Used by Operations** | $1.9 million | Increased from $1.7 million | Q1 2024 Revenue Breakdown (vs. Q1 2023) | Revenue Source | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | **License Revenues** | $0.8 million | $1.1 million | -32.7% | | **Product Sales** | $0.2 million | $0.1 million | +96.1% | | **Non-recurring Engineering** | $41,000 | $3,000 | +1,266.7% | - The company is undergoing a **strategic change** to focus entirely on its **licensing business** and phase out its **products business**, which led to **increased product sales** from last-time buy orders[3](index=3&type=chunk) - Product gross margin was **negative 90.0%** due to a one-time inventory impairment loss related to the phasing out of touch sensor module manufacturing[7](index=7&type=chunk) - The company highlights **increased interest** in its **driver and in-cabin monitoring solutions** following an award from a leading commercial vehicle OEM[4](index=4&type=chunk) - Cash and accounts receivable totaled **$15.3 million** as of March 31, 2024, a decrease from **$17.1 million** as of December 31, 2023[11](index=11&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) Neonode's Q1 2024 consolidated financial statements reflect decreased total assets, a $2.1 million net loss, and $1.9 million cash used in operations [Consolidated Balance Sheets](index=3&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) Neonode's total assets decreased to $16.9 million as of March 31, 2024, primarily due to reduced cash, with stockholders' equity declining to $15.0 million Balance Sheet Summary (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $14,274 | $16,155 | | **Total current assets** | $16,593 | $18,620 | | **Total assets** | $16,921 | $19,014 | | **Total current liabilities** | $1,862 | $1,832 | | **Total liabilities** | $1,874 | $1,851 | | **Total stockholders' equity** | $15,047 | $17,163 | [Consolidated Statements of Operations](index=4&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Neonode's Q1 2024 total revenues decreased to $1.01 million, resulting in a wider operating loss of $2.25 million and a net loss of $2.08 million Statement of Operations Summary (in thousands, except per share data) | Account | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Total revenues** | $1,014 | $1,253 | | **Total gross margin** | $617 | $1,206 | | **Total operating expenses** | $2,871 | $2,778 | | **Operating loss** | $(2,254) | $(1,572) | | **Net loss** | $(2,084) | $(1,425) | | **Basic and diluted loss per share** | $(0.14) | $(0.09) | [Consolidated Statements of Comprehensive Loss](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) Neonode's total comprehensive loss for Q1 2024 increased to $2.118 million, primarily due to the net loss and a negative foreign currency translation adjustment Comprehensive Loss Summary (in thousands) | Account | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net loss** | $(2,084) | $(1,425) | | **Foreign currency translation adjustments** | $(34) | $35 | | **Other comprehensive loss** | $(2,118) | $(1,390) | [Consolidated Statements of Stockholders' Equity](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20STOCKHOLDERS%27%20EQUITY) Stockholders' equity decreased from $17.16 million to $15.05 million as of March 31, 2024, primarily due to the $2.08 million net loss - Total stockholders' equity decreased from **$17,163 thousand** on Dec 31, 2023, to **$15,047 thousand** on March 31, 2024, primarily driven by the quarterly net loss of **$2,084 thousand**[22](index=22&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash used in operating activities increased to $1.9 million in Q1 2024, with cash and equivalents decreasing to $14.3 million due to no significant financing activities Cash Flow Summary (in thousands) | Account | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(1,915) | $(1,698) | | **Net cash (used in) provided by financing activities** | $(9) | $7,838 | | **Net change in cash and cash equivalents** | $(1,881) | $6,165 | | **Cash and cash equivalents at end of period** | $14,274 | $20,981 |

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ Commission File No. 001-35526 NEONODE INC. (Exact name of Registrant as specified in its charter) | Delaware | 94-1517641 | | --- | --- | | (State or ot ...

[Neonode 2023 Financial Results Press Release](index=1&type=section&id=Neonode%202023%20Financial%20Results%20Press%20Release) [CEO's Comments and Strategic Update](index=1&type=section&id=THE%20CEO%27S%20COMMENTS) The CEO expressed disappointment with the 2023 revenue decline, leading to a strategic pivot to focus exclusively on licensing - The company is sharpening its strategy to focus on licensing going forward and is phasing out its Touch Sensor Module (TSM) product business[3](index=3&type=chunk) - A key achievement in 2023 was securing a driver monitoring software contract with a leading commercial vehicle manufacturer[4](index=4&type=chunk) - The new, licensing-focused strategy is anticipated to increase efficiency and help the company reach a positive cash flow more quickly[5](index=5&type=chunk) [Financial Overview](index=1&type=section&id=FINANCIAL%20OVERVIEW%20FOR%20THE%20FISCAL%20YEAR%20ENDED%20DECEMBER%2031%2C%202023) Neonode's FY2023 net revenues decreased **21.5%** to **$4.4 million**, driven by declines in both licensing and product sales FY 2023 Key Financial Metrics vs. FY 2022 | Metric | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | $4.4 million | $5.7 million | -21.5% | | **Operating Expenses** | $10.7 million | $10.2 million | +4.9% | | **Net Loss** | $10.1 million | $4.9 million | +106.1% | | **Loss Per Share** | $0.66 | $0.36 | +83.3% | | **Cash Used by Operations** | $6.3 million | $6.8 million | -7.4% | FY 2023 Revenue Breakdown vs. FY 2022 | Revenue Source | 2023 | 2022 | Change | | :--- | :--- | :--- | :--- | | **License Revenues** | $3.8 million | $4.5 million | -14.9% | | **Product Sales** | $0.6 million | $1.0 million | -37.7% | | **Non-recurring Engineering** | $26,000 | $205,000 | -87.3% | - The gross margin for products was **negative 630.6% in 2023**, a steep drop from 22.0% in 2022, primarily due to one-time costs[9](index=9&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements detail Neonode's financial position and performance for the year ended December 31, 2023 [Consolidated Balance Sheets](index=4&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of December 31, 2023, Neonode's total assets decreased to **$19.0 million** from **$21.2 million**, primarily due to reduced inventory Key Balance Sheet Items (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $16,155 | $14,816 | | **Inventory** | $610 | $3,827 | | **Total current assets** | $18,620 | $20,798 | | **Total assets** | $19,014 | $21,198 | | **Total current liabilities** | $1,832 | $1,699 | | **Total liabilities** | $1,851 | $1,780 | | **Total stockholders' equity** | $17,163 | $19,418 | [Consolidated Statements of Operations](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Neonode's FY2023 total revenues fell to **$4.4 million**, resulting in a gross loss and a widened net loss of **$10.1 million** Key Income Statement Items (in thousands, except per share data) | Account | 2023 | 2022 | | :--- | :--- | :--- | | **Total revenues** | $4,449 | $5,670 | | **Total gross (loss) margin** | $(93) | $4,866 | | **Total operating expenses** | $10,651 | $10,152 | | **Operating loss** | $(10,744) | $(5,286) | | **Net loss attributable to Neonode Inc.** | $(10,123) | $(4,883) | | **Basic and diluted loss per share** | $(0.66) | $(0.36) | [Consolidated Statements of Comprehensive Loss](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) Neonode's FY2023 comprehensive loss was **$10.18 million**, slightly exceeding net loss due to foreign currency translation adjustments Comprehensive Loss Breakdown (in thousands) | Item | 2023 | 2022 | | :--- | :--- | :--- | | **Net loss including noncontrolling interests** | $(10,123) | $(5,283) | | **Foreign currency translation adjustments** | $(56) | $68 | | **Comprehensive loss attributable to Neonode Inc.** | $(10,179) | $(4,815) | [Consolidated Statements of Stockholders' Equity](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20STOCKHOLDERS%27%20EQUITY) Stockholders' equity decreased from **$19.4 million** to **$17.2 million** in 2023, driven by net loss partially offset by stock issuance 2023 Change in Stockholders' Equity (in thousands) | Item | Amount | | :--- | :--- | | **Balance at Dec 31, 2022** | $19,418 | | Issuance of shares for cash, net | $7,866 | | Stock-based compensation | $58 | | Net loss | $(10,123) | | Foreign currency translation adjustment | $(56) | | **Balance at Dec 31, 2023** | $17,163 | [Consolidated Statements of Cash Flows](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) In 2023, Neonode used **$6.3 million** in operating cash, generated **$7.8 million** from financing, increasing cash to **$16.2 million** Cash Flow Summary (in thousands) | Cash Flow Category | 2023 | 2022 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(6,308) | $(6,808) | | **Net cash used in investing activities** | $(123) | $(52) | | **Net cash provided by financing activities** | $7,777 | $4,509 | | **Net increase (decrease) in cash** | $1,339 | $(2,567) | | **Cash and cash equivalents at end of year** | $16,155 | $14,816 | [Company Information and Safe Harbor](index=2&type=section&id=About%20Neonode%20and%20Safe%20Harbor) This section outlines Neonode Inc., a publicly traded company specializing in advanced optical sensing solutions, and includes a standard Safe Harbor statement - Neonode Inc. (NASDAQ:NEON), headquartered in Stockholm, Sweden, provides advanced optical sensing solutions to Fortune 500 companies[12](index=12&type=chunk) - The company's technology is deployed in over **90 million products**, and it holds more than **100 patents** worldwide[12](index=12&type=chunk) - The press release contains forward-looking statements subject to various risks and uncertainties detailed in the company's SEC filings[14](index=14&type=chunk)[15](index=15&type=chunk)

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for September 30, 2023, show increased assets and widened net loss [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$24.8 million** by September 30, 2023, driven by cash from stock issuance Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 (Unaudited) | Dec 31, 2022 (Audited) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $18,471 | $14,816 | | Total current assets | $24,463 | $20,798 | | **Total assets** | **$24,817** | **$21,198** | | **Liabilities & Equity** | | | | Total current liabilities | $1,813 | $1,699 | | **Total liabilities** | **$1,837** | **$1,780** | | **Total stockholders' equity** | **$22,980** | **$19,418** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q3 2023 revenues decreased to **$1.0 million**, with net loss widening; YTD revenues fell to **$3.5 million** Statement of Operations Summary (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Total revenues | $1,003 | $1,216 | $3,456 | $3,801 | | Gross margin | $776 | $1,138 | $3,145 | $3,553 | | Operating loss | $(1,457) | $(962) | $(4,656) | $(4,039) | | Net loss attributable to Neonode Inc. | $(1,266) | $(800) | $(4,198) | $(3,728) | | Basic and diluted loss per share | $(0.08) | $(0.06) | $(0.27) | $(0.27) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations improved, with financing providing **$7.8 million** from stock, increasing cash Cash Flow Summary for the nine months ended September 30 (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,100) | $(5,694) | | Net cash used in investing activities | $(58) | $(54) | | Net cash provided by (used in) financing activities | $7,789 | $(147) | | **Net increase (decrease) in cash** | **$3,655** | **$(6,081)** | | **Cash and cash equivalents at end of period** | **$18,471** | **$11,302** | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail optical sensing operations, going concern, revenue recognition, customer concentration, and commitments - The company develops and markets optical sensing solutions for contactless touch, gesture sensing, and object detection, serving markets like office equipment, automotive, and medical[23](index=23&type=chunk) - Despite a history of significant operating losses and negative cash flows, management believes the company's operating plan and ATM facility are sufficient to continue as a going concern[25](index=25&type=chunk)[27](index=27&type=chunk) - As of September 30, 2023, **four customers** accounted for approximately **75%** of consolidated accounts receivable and unbilled revenues[51](index=51&type=chunk) - The company has an agreement to pay Texas Instruments **$500,000** in non-recurring engineering costs at a rate of **$0.25** per ASIC for the first **2 million units** sold; no payments have been made as of September 30, 2023[121](index=121&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses business model, reporting decreased revenues, widened losses, and improved liquidity - The company's business is based on licensing its zForce and MultiSensing technology platforms, selling Touch Sensor Modules (TSMs), and providing non-recurring engineering (NRE) services[137](index=137&type=chunk)[138](index=138&type=chunk)[141](index=141&type=chunk) Financial Results Summary (in thousands) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $1,003 | $1,216 | $3,456 | $3,801 | | Operating Loss | $(1,457) | $(962) | $(4,656) | $(4,039) | | Net Loss (to Neonode) | $(1,266) | $(800) | $(4,198) | $(3,728) | - The company raised **$7.9 million** in net proceeds during the first nine months of 2023 through its At-the-Market (ATM) offering program, selling **903,716 shares** of common stock[192](index=192&type=chunk) - Management believes the company has sufficient capital to fund operations for the next **twelve months**, based on its cash position of **$18.5 million** as of September 30, 2023[177](index=177&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Q3 2023 net revenues decreased to **$1.0 million**; gross margin dropped, operating loss widened - Q3 2023 license fee revenues decreased by **20%** to **$0.8 million** compared to Q3 2022, primarily due to lower sales volumes from customers[148](index=148&type=chunk)[152](index=152&type=chunk) - Gross margin for products in Q3 2023 was **negative 39%**, compared to **48%** in Q3 2022, mainly due to a one-time cost of **$143,000** from a customer claim[158](index=158&type=chunk) - Sales and marketing expenses for Q3 2023 increased by **48.3%** to **$0.5 million**, primarily due to higher marketing costs[148](index=148&type=chunk)[161](index=161&type=chunk) - R&D expenses for the nine months ended September 30, 2023, decreased by **9.1%** to **$2.7 million**, mainly due to lower personnel and related costs[149](index=149&type=chunk)[160](index=160&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) Cash and equivalents increased to **$18.5 million** from ATM proceeds, ensuring liquidity for twelve months Liquidity Position (in millions) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $18.5 | $14.8 | | Working capital | $22.7 | $19.1 | - Net cash used in operating activities for the nine months ended September 30, 2023, was **$4.1 million**, primarily resulting from a net loss of **$4.2 million**[179](index=179&type=chunk) - Net cash provided by financing activities was **$7.8 million** for the nine months ended September 30, 2023, almost entirely from the issuance of common stock under the ATM Facility[182](index=182&type=chunk) - Management evaluated the company's operating losses and determined its cash position and ATM facility are sufficient to alleviate going concern issues[184](index=184&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=35&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable for the reporting period - Not applicable[198](index=198&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of September 30, 2023, with no material changes - The CEO and CFO concluded that as of September 30, 2023, the company's disclosure controls and procedures were effective at providing reasonable assurance[199](index=199&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[201](index=201&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=36&type=section&id=Item%201%20Legal%20Proceedings) The company is not currently a party to any pending legal proceedings - The company is not a party to any pending legal proceedings but may become subject to them in the ordinary course of business[204](index=204&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2022 - No material changes from the risk factors disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022[205](index=205&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the reporting period - None[206](index=206&type=chunk) [Other Information](index=36&type=section&id=Item%205%20Other%20Information) There is no other information to report for this period - None[207](index=207&type=chunk) [Exhibits](index=36&type=section&id=Item%206%20Exhibits) This section lists filed exhibits, including officer certifications and Inline XBRL documents - The report includes a list of filed exhibits, such as officer certifications and XBRL data files[208](index=208&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 ☐ Transition report pursuant to section 13 or 15(d) of the Securities and Exchange Act of 1934 For the transition period from ________ to ________ Commission file number 1-35526 NEONODE INC. (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 ☐ Transition report pursuant to section 13 or 15(d) of the Securities and Exchange Act of 1934 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | | | Name of each exchange on which | | --- | --- | --- | | Title of each class | Tra ...