Neonode Q1 2024 revenue down 19% to $1.0M; net loss widens to $2.1M

Neonode Inc.

2024-Q1 EPS reported -$0.14 revenue$1,014,000

Revenue $1.0M, -19.1% YoY; license revenue down 32.7% to $0.8M.
Net loss $2.1M ($0.14/sh) vs $1.4M ($0.09) YoY; operating expenses up 3.3%.
Negative product gross margin of 90% due to $0.2M inventory impairment from phasing out manufacturing.
Cash and AR $15.3M at March 31, down from $17.1M at Dec 2023; operations used $1.9M.
CEO highlights awarded DMS software deal with commercial OEM and new touch license project.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Neonode Inc. reported the three months ended March 31, 2024 results: revenue $1.0 million, net income $2.1 million, or $0.14 per share, EPS $0.14 per share.

Period: the three months ended March 31, 2024
Revenue: $1.0 million
Net income: $2.1 million, or $0.14 per share
EPS: $0.14 per share
Result: reported results

Exact text from the filing

or the “Company”) today reported financial results for the three months ended March 31, 2024 . FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2024: ● Revenue of $1.0 million, a decrease of 19.1% compared to the same period in the prior year. ● Operating expenses of $2.9 million, an increase of 3.3% compared to the same period in the prior year. ● Net

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Source: SEC EDGAR

accession 0001213900-24-040662

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