Neonode Reports 2024 Financial Results

STOCKHOLM, March 21, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ:NEON) today reported financial results for the fiscal year ended December 31, 2024.

FINANCIAL SUMMARY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024:

Revenues from continuing operations of $3.1 million, a decrease of 18.8% compared to the prior year.

Operating expenses from continuing operations of $9.5 million, a decrease of 0.2% compared to the prior year.

Loss from continuing operations of $5.9 million, or $0.37 per share, compared to $5.1 million, or $0.33 per share, for the prior year.

Cash used by operations of $5.6 million, compared to $6.3 million for the prior year.

Cash and accounts receivable of $17.2 million as of December 31, 2024, compared to $16.8 million for the prior year-end.

THE CEO'S COMMENTS

"Last year marked an important year of transition for Neonode as we discontinued Touch Sensor Module ("TSM") manufacturing and positioned ourselves for a future fully focused on technology licensing. Our licensable technology platforms, MultiSensing® and zForce®, continued to generate customer interest in 2024, resulting in non-recurring engineering ("NRE") fees from customer projects, which we expect to generate license revenues once these projects enter the production phase," said Fredrik Nihlén, ...