Neonode Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Neonode Inc has an operating margin of -210.7%, meaning the company retains $-211 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -149.8% the prior year.
Neonode Inc's revenue declined 18.8% year-over-year, from $3.8M to $3.1M. This contraction results in a growth score of 0/100.
Neonode Inc carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 10.92, Neonode Inc holds $10.92 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Neonode Inc generated -$5.6M in operating cash flow, capex of $37K consumed most of it, leaving -$5.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Neonode Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Neonode Inc generates $0.86 in operating cash flow (-$5.6M OCF vs -$6.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Neonode Inc (NEON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Neonode Inc generated $3.1M in revenue in fiscal year 2024. This represents a decrease of 18.8% from the prior year.
Neonode Inc's EBITDA was -$6.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.4% from the prior year.
Neonode Inc generated -$5.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 12.5% from the prior year.
Neonode Inc reported -$6.5M in net income in fiscal year 2024. This represents an increase of 36.1% from the prior year.
Neonode Inc earned $-0.41 per diluted share (EPS) in fiscal year 2024. This represents an increase of 37.9% from the prior year.
Neonode Inc held $16.4M in cash against $0 in long-term debt as of fiscal year 2024.
Neonode Inc had 17M shares outstanding in fiscal year 2024. This represents an increase of 9.3% from the prior year.
Neonode Inc's gross margin was 96.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.4 percentage points from the prior year.
Neonode Inc's operating margin was -210.7% in fiscal year 2024, reflecting core business profitability. This is down 60.8 percentage points from the prior year.
Neonode Inc's net profit margin was -208.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 56.3 percentage points from the prior year.
Neonode Inc invested $3.4M in research and development in fiscal year 2024. This represents a decrease of 10.1% from the prior year.
Neonode Inc invested $37K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 69.9% from the prior year.
NEON Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $430K-28.2% | $599K+16.8% | $513K-21.7% | $655K-18.2% | $801K-1.6% | $814K+118.2% | $373K-62.8% | $1.0M |
| Cost of Revenue | $9K+50.0% | $6K-33.3% | $9K-82.7% | $52K+116.7% | $24K+41.2% | $17K+105.7% | -$299K-231.7% | $227K |
| Gross Profit | $421K-29.0% | $593K+17.7% | $504K-16.4% | $603K-22.4% | $777K-2.5% | $797K+31.1% | $608K-27.6% | $840K |
| R&D Expenses | $794K-26.1% | $1.1M+10.2% | $975K+29.7% | $752K-22.9% | $975K+8.9% | $895K-21.6% | $1.1M+38.0% | $827K |
| SG&A Expenses | $862K-16.6% | $1.0M+427.0% | $196K+123.1% | -$848K-181.0% | $1.0M+187.6% | $364K+121.5% | -$1.7M-324.9% | $754K |
| Operating Income | $13.8M+754.5% | -$2.1M-7.4% | -$2.0M-19.3% | -$1.6M+7.9% | -$1.8M+5.1% | -$1.9M-47.2% | -$1.3M-1.9% | -$1.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $220K |
| Income Tax | $0 | N/A | -$10K-300.0% | $5K-54.5% | $11K+10.0% | $10K-50.0% | $20K-42.9% | $35K |
| Net Income | $14.2M+859.3% | -$1.9M-7.8% | -$1.7M-8.3% | -$1.6M+5.6% | -$1.7M+18.7% | -$2.1M+64.8% | -$5.9M-368.0% | -$1.3M |
| EPS (Diluted) | N/A | $-0.11-10.0% | $-0.10-11.1% | $-0.09+18.2% | $-0.11+21.4% | $-0.14+64.1% | $-0.39-387.5% | $-0.08 |
NEON Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $32.8M+118.0% | $15.1M-11.3% | $17.0M-7.7% | $18.4M+21.0% | $15.2M-10.2% | $16.9M-11.0% | $19.0M-23.4% | $24.8M |
| Current Assets | $32.2M+123.5% | $14.4M-11.4% | $16.3M-8.1% | $17.7M+17.2% | $15.1M-9.0% | $16.6M-10.9% | $18.6M-23.9% | $24.5M |
| Cash & Equivalents | $11.6M-12.5% | $13.2M-11.7% | $15.0M-8.7% | $16.4M+25.3% | $13.1M-8.2% | $14.3M-11.6% | $16.2M-12.5% | $18.5M |
| Inventory | N/A | N/A | N/A | N/A | $205K-57.9% | $487K-20.2% | $610K-85.8% | $4.3M |
| Accounts Receivable | N/A | N/A | N/A | N/A | $1.2M+16.2% | $1.1M+16.9% | $917K-1.2% | $928K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $6.0M+150.0% | $2.4M+0.4% | $2.4M+23.6% | $1.9M+3.5% | $1.9M-0.1% | $1.9M+1.2% | $1.9M+0.8% | $1.8M |
| Current Liabilities | $5.9M+167.7% | $2.2M+4.4% | $2.1M+30.9% | $1.6M-13.5% | $1.9M+0.6% | $1.9M+1.6% | $1.8M+1.0% | $1.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $26.8M+111.8% | $12.7M-13.2% | $14.6M-11.4% | $16.4M+23.4% | $13.3M-11.5% | $15.0M-12.3% | $17.2M-25.3% | $23.0M |
| Retained Earnings | -$213.5M+6.2% | -$227.7M-0.8% | -$225.8M-0.8% | -$224.1M-1.2% | -$221.4M+1.2% | -$224.1M-3.0% | -$217.6M-2.8% | -$211.7M |
NEON Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5M+12.7% | -$1.8M-28.7% | -$1.4M-16.9% | -$1.2M+4.7% | -$1.2M+36.3% | -$1.9M+13.3% | -$2.2M-23.7% | -$1.8M |
| Capital Expenditures | $75K+400.0% | -$25K-162.5% | $40K | $0 | N/A | N/A | $65K+195.5% | $22K |
| Free Cash Flow | -$1.6M+9.7% | -$1.8M-26.8% | -$1.4M-20.4% | -$1.2M | N/A | N/A | -$2.3M-25.8% | -$1.8M |
| Investing Cash Flow | -$75K-400.0% | $25K+162.5% | -$40K-3900.0% | -$1K | N/A | N/A | -$65K-195.5% | -$22K |
| Financing Cash Flow | -$3K0.0% | -$3K-50.0% | -$2K0.0% | -$2K+50.0% | -$4K+55.6% | -$9K+25.0% | -$12K+52.0% | -$25K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NEON Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 97.9%-1.1pp | 99.0%+0.7pp | 98.3%+6.2pp | 92.1%-4.9pp | 97.0%-0.9pp | 97.9% | N/A | 83.8% |
| Operating Margin | 3211.6%+3563.9pp | -352.3%+30.8pp | -383.0%-131.6pp | -251.4%-28.1pp | -223.3%+8.4pp | -231.7%+111.7pp | -343.4%-218.1pp | -125.3% |
| Net Margin | 3298.6%+3610.4pp | -311.9%+26.0pp | -337.8%-93.6pp | -244.3%-32.7pp | -211.6%+44.4pp | -256.0%+1332.5pp | -1588.5%-1462.3pp | -126.2% |
| Return on Equity | 52.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 43.2%+55.6pp | -12.4%-2.2pp | -10.2%-1.5pp | -8.7%+2.5pp | -11.2%+1.2pp | -12.3%+18.8pp | -31.2%-26.1pp | -5.1% |
| Current Ratio | 5.43-1.1 | 6.50-1.2 | 7.67-3.3 | 10.92+2.9 | 8.06-0.9 | 8.91-1.3 | 10.16-3.3 | 13.49 |
| Debt-to-Equity | 0.22+0.0 | 0.19+0.0 | 0.16+0.0 | 0.12-0.0 | 0.14+0.0 | 0.12+0.0 | 0.11+0.0 | 0.08 |
| FCF Margin | -372.6%-76.2pp | -296.3%-23.4pp | -272.9%-95.3pp | -177.6% | N/A | N/A | -609.4%-429.2pp | -180.2% |
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Frequently Asked Questions
What is Neonode Inc's annual revenue?
Neonode Inc (NEON) reported $3.1M in total revenue for fiscal year 2024. This represents a -18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Neonode Inc's revenue growing?
Neonode Inc (NEON) revenue declined by 18.8% year-over-year, from $3.8M to $3.1M in fiscal year 2024.
Is Neonode Inc profitable?
No, Neonode Inc (NEON) reported a net income of -$6.5M in fiscal year 2024, with a net profit margin of -208.0%.
What is Neonode Inc's earnings per share (EPS)?
Neonode Inc (NEON) reported diluted earnings per share of $-0.41 for fiscal year 2024. This represents a 37.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Neonode Inc's EBITDA?
Neonode Inc (NEON) had EBITDA of -$6.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Neonode Inc's gross margin?
Neonode Inc (NEON) had a gross margin of 96.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Neonode Inc's operating margin?
Neonode Inc (NEON) had an operating margin of -210.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Neonode Inc's net profit margin?
Neonode Inc (NEON) had a net profit margin of -208.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Neonode Inc's free cash flow?
Neonode Inc (NEON) generated -$5.6M in free cash flow during fiscal year 2024. This represents a 12.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Neonode Inc's operating cash flow?
Neonode Inc (NEON) generated -$5.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Neonode Inc's total assets?
Neonode Inc (NEON) had $18.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Neonode Inc's capital expenditures?
Neonode Inc (NEON) invested $37K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Neonode Inc spend on research and development?
Neonode Inc (NEON) invested $3.4M in research and development during fiscal year 2024.
How many shares does Neonode Inc have outstanding?
Neonode Inc (NEON) had 17M shares outstanding as of fiscal year 2024.
What is Neonode Inc's current ratio?
Neonode Inc (NEON) had a current ratio of 10.92 as of fiscal year 2024, which is generally considered healthy.
What is Neonode Inc's debt-to-equity ratio?
Neonode Inc (NEON) had a debt-to-equity ratio of 0.12 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Neonode Inc's return on assets (ROA)?
Neonode Inc (NEON) had a return on assets of -35.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Neonode Inc's cash runway?
Based on fiscal year 2024 data, Neonode Inc (NEON) had $16.4M in cash against an annual operating cash burn of $5.6M. This gives an estimated cash runway of approximately 35 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Neonode Inc's Piotroski F-Score?
Neonode Inc (NEON) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Neonode Inc's earnings high quality?
Neonode Inc (NEON) has an earnings quality ratio of 0.86x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Neonode Inc?
Neonode Inc (NEON) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.