Neonode(US:NEON)2020-08-14 16:42Business Overview - Neonode's contactless touch technology is deployed in over 75 million products[14] - The company has secured more than 120 patents and patents pending worldwide[14] - The legacy licensing business generates $5-7 million in annual revenue[21] - As of December 31, 2019, Neonode has entered into 42 zForce® technology license agreements with global OEMs, ODMs, and Tier 1 suppliers[34] Market Opportunities - The global kiosk market was valued at $14.8 billion in 2018 and is projected to reach $32.5 billion in 2027[25] - The self-checkout kiosk market in the Americas is growing at a 10.9% CAGR, expected to reach $7.1 billion by 2024[25] - The ATM market is valued at over $20 billion today and is expected to reach $30 billion by 2027[28] - The global elevator market is expected to grow from $93.8 billion in 2018 to $135.5 billion in 2026, representing a 4.5% CAGR[30] Financial Performance - Q2 2020 revenues were $0.7 million, compared to $1.7 million in Q2 2019, a decrease of 55.7%[51] - Q2 2020 operating expenses were $2.4 million, compared to $3.0 million in Q2 2019, a decrease of 19%[51] - The company completed a private placement on August 7, 2020, receiving net cash proceeds of $13.1 million[42]