Neonode Q3 revenue $1.0M, down 17.5% YoY; net loss widens to $1.3M

Neonode Inc.

2023-Q3 EPS reported -$0.27 revenue$3,456,000

Revenue $1.0M, down 17.5% YoY; license revenue $0.8M (-20%), product sales $0.2M (+5%).
Net loss $1.3M ($0.08/sh) vs $0.8M ($0.06) in prior year; operating expenses up 6.3%.
Product gross margin negative 39.3%, impacted by one-time customer claim cost.
Cash used in operations $1.8M vs $0.5M in Q3 2022; cash and receivables $19.4M.
CEO notes licensing stable YTD but product sales below targets; focus on automotive, medtech, kiosk sectors.

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 the nine months ended September 30, 2023 results: revenue $3.5 million, net income $4.2 million, EPS $0.27 per share.

Period: the nine months ended September 30, 2023
Revenue: $3.5 million
Net income: $4.2 million
EPS: $0.27 per share
Result: reported results

Exact text from the filing

FINANCIAL SUMMARY FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2023: ● Revenue of $3.5 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Neonode Inc. reported the three months ended September 30, 2023 results: revenue $1.0 million, net income $1.3 million, EPS $0.08 per share.

Period: the three months ended September 30, 2023
Revenue: $1.0 million
Net income: $1.3 million
EPS: $0.08 per share
Result: reported results

Exact text from the filing

NEON) today reported financial results for the three and nine months ended September 30, 2023. FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023: ● Revenue of $1.0 million, a decrease of 17.5% compared to the same period in the prior year. ● Operating expenses of $2.2 million, an increase of 6.3% compared to the same period in the prior year. ●

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Source: SEC EDGAR

accession 0001213900-23-084971

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