Neonode Q1 revenue down 5% YoY to $1.3M; net loss $1.4M unchanged

Neonode Inc.

2023-Q1 EPS reported -$0.10 revenue$1,253,000

Revenue $1.3M (-4.9% YoY); license revenue $1.1M (+4% YoY), product sales $0.1M (-31% YoY).
Net loss $1.4M ($0.09/share) vs $1.4M ($0.10/share) in Q1 2022.
Cash & accounts receivable $22.9M at Mar 31, up from $16.3M at Dec 31, 2022.
Operating expenses $2.8M (+4.9% YoY) on higher professional fees.
CEO cites improving semiconductor supply; product sales below expectations; plans to increase China marketing.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Neonode Inc. reported three months ended March 31, 2023 results: revenue $1.3 million, net income Net loss of $1.4 million, EPS $0.09 per share.

Period: three months ended March 31, 2023
Revenue: $1.3 million
Net income: Net loss of $1.4 million
EPS: $0.09 per share
Result: reported results

Exact text from the filing

FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2023: ● Revenue of $1.3 million, a decrease of 4.9% compared to the same period in the prior year. ● Operating expenses of $2.8 million, an increase of 4.9% compared to the same period in the prior year. ● Net loss of $1.4 million, or $0.09 per share, compared to $1.4 million, or $0.10 per share, for the same period in the prior year. ● Cash used by operations of $1.7 million compared to $2.3 million for the same period in the prior year. ● Cash and accounts receivable of $22.9 million as of March 31, 2023 compared to $16.3 million as of December 31, 2022.

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Source: SEC EDGAR

accession 0001213900-23-038309

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