Neonode(US:NEON)2021-11-10 17:37Financial Performance - Year-to-date revenue reached $4.3 million, showing a 23% year-over-year increase[10] - Year-to-date product revenue was $0.8 million, representing an 88% year-over-year increase[10] - Q3 operating expenses were $2.7 million, a 12% year-over-year increase[14, 15] - Cash and accounts receivables stand at $6.3 million[17] - Q3 net cash burn from operating activities was $1.6 million, a 12% year-over-year increase[17] Registered Direct Offering - A registered direct offering closed on October 26, 2021, involving 1,808,000 shares at $7.75 per share[19] - The registered direct offering generated net proceeds of approximately $13.1 million[19] - As of November 10, 2021, the company had 13,561,217 outstanding shares[19] Business and Strategy - The company is targeting an elevator market with a total addressable market of approximately 19 million units and a CAGR of 5.2% from 2021-2024[37] - The company estimates a potential revenue of $760 million and a potential gross profit of $266 million in the elevator market[46] - The company estimates a potential revenue of $200 million and a potential gross profit of $70 million in the self-service kiosks market[46] - The company estimates a potential revenue of $600 million and a potential gross profit of $210 million in the vending machines market[46]