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Neonode(NEON) - 2025 Q1 - Quarterly Results
NEONNeonode(NEON)2025-05-14 13:18

Financial Performance - Revenues from continuing operations were 0.5million,adecreaseof37.00.5 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 1.8million,or1.8 million, or 0.11 per share, compared to a loss of 1.7million,or1.7 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 1,733million,animprovementfromanetlossof1,733 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 1.4million,downfrom1.4 million, down from 1.9 million for the same period in the prior year[9] - Net cash used in operating activities decreased to 1,360millionfrom1,360 million from 1,915 million year-over-year[25] - Cash and cash equivalents at the end of the period were 14,991million,comparedto14,991 million, compared to 14,274 million at the end of the same period in 2024[25] - Cash paid for income taxes remained stable at 10millionforbothperiods[25]−Cashpaidforinterestdecreasedto10 million for both periods[25] - Cash paid for interest decreased to 0 million from 1millioninthepreviousyear[25]RevenueBreakdown−Licenserevenueswere1 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,a61.016,000, 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 17.2millionasofDecember31,2024[10]−Totalassetsdecreasedto17.2 million as of December 31, 2024[10] - Total assets decreased to 16.972 million as of March 31, 2025, down from 18.381millionasofDecember31,2024[17]−Accountsreceivableandunbilledrevenuesshowedanetchangeof18.381 million as of December 31, 2024[17] - Accounts receivable and unbilled revenues showed a net change of (5) million, improving from (170)millionyear−over−year[25]−Inventoryimpairmentlosswasrecordedat(170) million year-over-year[25] - Inventory impairment loss was recorded at 0 million for the current period, a significant decrease from 278millioninthepreviousyear[25]OperationalHighlights−Thecompanyisfocusingonexpandingbusinessopportunitiesandadvancingitsproductroadmapacrossitscoretechnologyplatforms:MultiSensing®andzForce®[3]−TheCEOexpressedoptimismaboutthefuture,particularlyregardingthezForceplatform′spotentialintouchdisplaysandruggedapplications[4]OtherFinancialMetrics−Propertyandequipmentobtainedinexchangeforfinanceleaseobligationsamountedto278 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 0millioninthesameperiodlastyear[25]−Theeffectofexchangeratechangesoncashandcashequivalentsresultedinalossof0 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 43millioninthepreviousyear[25]−Thecompanymadeprincipalpaymentsonfinanceleaseobligationstotaling43 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]