Neonode (NEON) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NEON SEC filings page.
Neonode Inc. (NEON) reported $2.0M in revenue over the twelve months to Jun 30, 2026, down 21.7% from the prior twelve months. This page shows its 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).
Neonode remains a development-stage business: shrinking revenue sits beside escalating operating spend and cash outflows despite reported FY2025 operating income.
The unusual earnings-quality gap is that FY2025 reported operating income of$7.4M coexisted with operating cash flow of-$10.3M . Reported operating profitability therefore did not translate into internally generated cash during the year.
FY2025 R&D consumed
The balance sheet expanded without a matching liability build: assets rose
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Neonode Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Neonode Inc.'s reported operating margin for fiscal year 2025 is above the highest share of revenue this page publishes, so the figure is not shown here. This dimension scores 72/100.
Neonode Inc.'s revenue declined 33.7% year-over-year, from $3.1M to $2.1M. This contraction results in a growth score of 3/100.
With a current ratio of 12.05, Neonode Inc. holds $12.05 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 98/100.
Neonode Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Neonode Inc. scores -6.00, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $215.6M against total assets of $26.9M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Neonode Inc. passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). No profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
Key Financial Metrics
Earnings & Revenue
Neonode Inc. generated $477K in revenue in Q2 2026. This represents a decrease of 20.4% from the same quarter a year earlier. Against the prior quarter it is down 22.3%.
Neonode Inc.'s EBITDA was -$2.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Neonode Inc. reported a net loss of $2.1M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Neonode Inc. recorded an outflow of $1.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Neonode Inc. held $21.3M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Neonode Inc.'s gross margin was 98.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.
Neonode Inc.'s quarterly ROE was -10.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 4.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Neonode Inc. invested $1.0M in research and development in Q2 2026. This represents a decrease of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 10.9%.
Neonode Inc. invested $1K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 96.0% from the same quarter a year earlier. Against the prior quarter it is down 92.3%.
Not reported for Q2 2026.
NEON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $477K-20.4% | $614K+19.7% | $520K-20.6% | $430K-48.7% | $599K-25.2% | $513K-37.0% | $655K+75.6% | $838K-16.5% |
| Cost of Revenue | $9K+50.0% | $4K-55.6% | $2K-96.2% | $9K-60.9% | $6K-75.0% | $9K-47.1% | $52Kn/m | $23K-89.9% |
| Gross Profit | $468K-21.1% | $610K+21.0% | $518K-14.1% | $421K-48.3% | $593K-23.7% | $504K-36.8% | $603K-0.8% | $815K-3.0% |
| R&D Expenses | $1.0M-6.5% | $905K-7.2% | $936K+24.5% | $794K-3.4% | $1.1M+10.2% | $975K+8.9% | $752K-34.1% | $822K-0.6% |
| SG&A Expenses | $1.8M+9.6% | $1.8M+806.1% | $3.2Mn/m | $1.3M+9.0% | $1.6M+2.4% | $196K-46.2% | -$1.9Mn/m | $1.2M-4.1% |
| Operating Income | -$2.3Mn/m | -$2.1Mn/m | -$2.4Mn/m | $13.8Mn/m | -$2.1Mn/m | -$2.0Mn/m | -$1.6Mn/m | -$1.2Mn/m |
| EBITDA | -$2.3Mn/m | -$2.1Mn/m | -$2.4M | $13.8M | -$2.1Mn/m | -$2.0Mn/m | N/A | N/A |
| Income Tax | $1Kn/m | $1Kn/m | $1K-80.0% | $0n/m | $0-100.0% | -$10K-200.0% | $5K-75.0% | -$11K-131.4% |
| Net Income | -$2.1Mn/m | -$1.9Mn/m | N/A | $14.2Mn/m | -$1.9Mn/m | -$1.7Mn/m | N/A | -$1.1Mn/m |
| EPS (Basic) | -$0.13n/m | -$0.11n/m | -$0.12n/m | $0.85n/m | -$0.11n/m | -$0.10n/m | -$0.10n/m | -$0.07n/m |
| EPS (Diluted) | N/A | N/A | N/A | N/A | -$0.11n/m | -$0.10n/m | -$0.10n/m | -$0.07n/m |
| Diluted Shares (Avg) | N/A | N/A | N/A | N/A | 17M+9.3% | 16,783+9.3% | N/A | 15,980+4.0% |
Not reported in any period shown, so not listed: Interest Expense.
NEON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $23.6M+57.0% | $24.9M+46.8% | $26.9M+46.3% | $32.8M+67.1% | $15.1M-0.9% | $17.0M+0.3% | $18.4M-3.3% | $19.6M-20.9% |
| Current Assets | $22.4M+55.3% | $24.4M+50.2% | $26.3M+48.6% | $32.2M+64.6% | $14.4M-4.6% | $16.3M-2.0% | $17.7M-5.0% | $19.6M-20.0% |
| Cash & Equivalents | $21.3M+61.1% | $23.2M+55.0% | $25.4M+54.4% | $11.6M-34.2% | $13.2M+1.0% | $15.0M+5.0% | $16.4M+1.7% | $17.6M-4.7% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | N/A | N/A | $400K-42.9% | N/A | N/A | N/A | $700K-23.7% | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $2.9M+19.5% | $2.1M-13.9% | $2.2M+13.3% | $6.0M+266.8% | $2.4M+28.5% | $2.4M+27.9% | $1.9M+4.8% | $1.6M-10.7% |
| Current Liabilities | $2.1M-7.0% | $2.1M-3.3% | $2.2M+34.6% | $5.9M+261.5% | $2.2M+18.3% | $2.1M+13.9% | $1.6M-11.6% | $1.6M-9.5% |
| Non-Current Liabilities | $813K+325.7% | $12K-95.7% | $15K-95.3% | $87Kn/m | $191Kn/m | $276K+2200.0% | $319K+1578.9% | $0-100.0% |
| Total Equity | $20.8M+64.1% | $22.8M+56.8% | $24.7M+50.2% | $26.8M+48.9% | $12.7M-5.0% | $14.6M-3.1% | $16.4M-4.2% | $18.0M-21.7% |
| Retained Earnings | -$219.6Mn/m | -$217.4Mn/m | -$215.6Mn/m | -$213.5Mn/m | -$227.7Mn/m | -$225.8Mn/m | -$224.1Mn/m | -$222.5Mn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
NEON Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9Mn/m | -$2.1Mn/m | -$5.6Mn/m | -$1.5Mn/m | -$1.8Mn/m | -$1.4Mn/m | -$1.2Mn/m | -$1.3Mn/m |
| Depreciation & Amortization | $17K+21.4% | $16K+77.8% | $13K+44.4% | $14K | $14K+7.7% | $9K-66.7% | $9Kn/m | N/A |
| Capital Expenditures | $1K-96.0% | $13K-67.5% | $1Kn/m | $75Kn/m | -$25K | $40K | $0-100.0% | $0-100.0% |
| Free Cash Flow | -$1.9Mn/m | -$2.1Mn/m | -$5.6Mn/m | -$1.6Mn/m | -$1.8M | -$1.4M | -$1.2Mn/m | -$1.3Mn/m |
| Investing Cash Flow | -$1K-104.0% | -$13Kn/m | $19.4Mn/m | -$75Kn/m | $25K | -$40K | -$1Kn/m | $0n/m |
| Financing Cash Flow | -$3Kn/m | -$3Kn/m | -$3Kn/m | -$3K-100.1% | -$3Kn/m | -$2Kn/m | -$2Kn/m | $5.8Mn/m |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
NEON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.1%-0.9pp | 99.4%+1.1pp | 99.6%+7.6pp | 97.9%+0.6pp | 99.0%+2.0pp | 98.3%+0.3pp | 92.1% | 97.3%+13.5pp |
| Operating Margin | -486.6% | -337.3% | -454.6% | 3211.6% | -352.3% | -383.0% | -251.5% | -146.2% |
| Net Margin | -442.6% | -303.4% | N/A | 3298.6% | -311.9% | -337.8% | N/A | -129.7% |
| Return on Equity | -10.2%+4.6pp | -8.2%+3.7pp | N/A | 52.9%+59.0pp | -14.8%-2.0pp | -11.9%+2.0pp | N/A | -6.0%-0.5pp |
| Return on Assets | -8.9%+3.5pp | -7.5%+2.7pp | N/A | 43.2%+48.8pp | -12.4%-1.2pp | -10.2%+2.1pp | N/A | -5.5%-0.4pp |
| Current Ratio | 10.86+4.4x | 11.91+4.2x | 12.05+1.1x | 5.43-6.5x | 6.50-1.6x | 7.67-1.2x | 10.92+0.8x | 11.93-1.6x |
| Liabilities-to-Equity | 0.14-0.1x | 0.09-0.1x | 0.090.0x | 0.22+0.1x | 0.190.0x | 0.160.0x | 0.120.0x | 0.090.0x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.010.0x | 0.040.0x | 0.030.0x | 0.040.0x | 0.040.0x |
| FCF Margin | -397.7% | -345.1% | -1080.4% | -372.6% | -296.3% | -272.9% | -177.6% | -154.4% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Neonode Inc. NEON | FY2025 | $2.1M | N/A | N/A | $11.6M | 47/100 |
| Wallbox N.V. WBX | FY2024 | $169.7M | -$157.1M | -92.6% | $67.9M | 65/100 |
| Interlink Electronics, Inc. LINK | FY2025 | $11.9M | -$1.6M | -13.6% | $65.2M | 52/100 |
| MicroCloud Hologram Inc. HOLO | FY2025 | $57.4M | -$7.1M | -12.4% | $28.0M | 70/100 |
| Eltek Ltd ELTK | FY2025 | $51.8M | $826K | 1.6% | $42.5M | 54/100 |
| Deswell Industries Inc DSWL | FY2026 | $61.3M | $10.6M | 17.3% | $46.9M | 60/100 |
Where Neonode Inc. Ranks
Frequently Asked Questions
What is Neonode Inc.'s annual revenue?
Neonode Inc. (NEON) reported $2.1M in total revenue for fiscal year 2025. This represents a -33.7% 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 33.7% year-over-year, from $3.1M to $2.1M in fiscal year 2025.
What is Neonode Inc.'s EBITDA?
Neonode Inc. (NEON) had EBITDA of $7.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Neonode Inc.'s gross margin?
Neonode Inc. (NEON) had a gross margin of 98.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Neonode Inc.'s free cash flow?
Neonode Inc. (NEON) recorded an outflow of $10.3M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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) recorded an outflow of $10.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Neonode Inc.'s total assets?
Neonode Inc. (NEON) had $26.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Neonode Inc.'s capital expenditures?
Neonode Inc. (NEON) invested $91K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Neonode Inc. spend on research and development?
Neonode Inc. (NEON) invested $3.8M in research and development during fiscal year 2025.
What is Neonode Inc.'s current ratio?
Neonode Inc. (NEON) had a current ratio of 12.05 as of fiscal year 2025, which is generally considered healthy.
What is Neonode Inc.'s liabilities-to-equity ratio?
Neonode Inc. (NEON) had a liabilities-to-equity ratio of 0.09 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Neonode Inc.'s P/E ratio?
Neonode Inc. (NEON) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $11.6M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Neonode Inc.'s price-to-sales ratio?
Neonode Inc. (NEON) trades at 5.7x sales, its market capitalization divided by $2.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $11.6M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Neonode Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Neonode Inc. (NEON) held $25.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $10.3M over that year. Dividing the one by the other, the reported balance equals about 30 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Neonode Inc.'s Altman Z-Score?
Neonode Inc. (NEON) has an Altman Z-Score of -6.00, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Neonode Inc.'s Piotroski F-Score?
Neonode Inc. (NEON) has a Piotroski F-Score of 3 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
How financially healthy is Neonode Inc.?
Neonode Inc. (NEON) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.