Core Viewpoint - Neonode Inc. reported a significant decline in revenues for the quarter ended March 31, 2025, primarily due to reduced demand in its legacy business, particularly in the printer market, while the company is focusing on expanding its business opportunities and product roadmap to drive future growth [3][6]. Financial Summary - Revenues from continuing operations were $0.5 million, a 37.0% decrease compared to the same period in 2024 [6][9]. - License revenues were $0.5 million, reflecting a decrease of 35.7% year-over-year, attributed to lower demand from legacy customers [6]. - Revenues from non-recurring engineering were $16,000, a 61.0% decrease compared to the same period in 2024, mainly due to fewer projects [7]. - Operating expenses from continuing operations were $2.5 million, an 8.0% decrease compared to the same period in 2024 [7][9]. - 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 2024 [8][9]. - Cash used by operations was $1.4 million, down from $1.9 million in the same period in 2024 [8][9]. Financial Position - Cash and accounts receivable totaled $15.7 million as of March 31, 2025, down from $17.2 million as of December 31, 2024 [10]. - Working capital for continuing operations was $14.1 million as of March 31, 2025, compared to $16.1 million as of December 31, 2024 [10]. - The company's financial position and liquidity are described as stable, enabling the execution of strategies to secure more licensing opportunities [10].
Neonode Reports Quarter Ended March 31, 2025 Financial Results