Neonode reports 2023 revenue down 21.5%; net loss widens to $10.1M

Neonode Inc.

2023-FY EPS reported -$0.66 revenue$4,449,000

Revenue $4.4M (-21.5% YoY); license rev. $3.8M (-14.9%), product rev. $0.6M (-37.7%).
Net loss $10.1M ($0.66/sh) vs $4.9M ($0.36/sh) in 2022; operating expenses up 4.9% to $10.7M.
Product gross margin negative 630.6%, hit by $3.6M inventory impairment and $0.4M purchase commitment loss.
Phasing out TSM product business; closing Kungsbacka production unit in H2 2024; shifting to licensing focus.
Cash and AR $17.1M at year-end; cash burn $6.3M, slightly improved from $6.8M.

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 fiscal year ended December 31, 2023 results: revenue $4.4 million, net income $10.1 million, EPS $0.66 per share.

Period: the fiscal year ended December 31, 2023
Revenue: $4.4 million
Net income: $10.1 million
EPS: $0.66 per share
Result: reported results

Exact text from the filing

Neonode Inc. (NASDAQ: NEON) today reported financial results for the fiscal year ended December 31, 2023. FINANCIAL SUMMARY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023: ● Revenue of $4.4 million, a decrease of 21.5% compared to the prior year. ● Operating expenses of $10.7 million, an increase of 4.9% compared to the prior year. ● Net loss of $10.1 million, or $0.66 per share, compared to $4.9 million, or $0.36 per share, for the prior year.

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Source: SEC EDGAR

accession 0001213900-24-017781

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