Neonode Inc - NEON STOCK NEWS

Neonode (NASDAQ: NEON) has been awarded the 2025 Just Auto Excellence Award in the Innovation - Driver Monitoring Software category for its groundbreaking Hands-on-wheel application. The recognition comes from Just Auto's rigorous evaluation process, which assessed innovation, impact, novelty, and value.

The award-winning software features several key achievements:

• Enhanced driver safety through precise hand position detection on steering wheels
• Proprietary MultiSensing® technology utilizing synthetic data and neural networks
• Compliance with EU General Safety Regulation and Euro NCAP requirements
• Cost-effective integration with existing in-cabin cameras
• Customizable hand gesture controls for vehicle features
• Universal compatibility with any steering wheel

Johanna Jansson, VP Sales & Marketing Automotive at Neonode, emphasized the achievement's significance in advancing driver safety and redefining in-cabin experience. The award will be featured in Just Auto's online publication and Awards Report, reaching a global industry audience.

Neonode (NASDAQ: NEON) has appointed Daniel Alexus as its new President and Chief Executive Officer, effective March 31, 2025. Alexus, 40, joins from Ericsson where he served as Executive, Global Head of Innovation and Founder of Ericsson ONE since 2018.

The appointment comes at a important time as Neonode aims to reshape its business model, focusing on licensing proprietary technologies to leading suppliers and OEMs while pursuing profitability. Alexus brings significant experience from various senior roles at Ericsson since 2010 and holds a Master of Science in Engineering & Management from KTH Royal Institute of Technology in Stockholm.

Neonode (NASDAQ: NEON) reported its fiscal year 2024 financial results, showing revenues from continuing operations of $3.1 million, down 18.8% year-over-year. The company posted a loss from continuing operations of $5.9 million, or $0.37 per share, compared to $5.1 million in 2023.

License revenues decreased 29.3% to $2.7 million, primarily due to lower demand in printer and passenger car touch applications. However, non-recurring engineering revenues increased significantly by 1,519.2% to $0.4 million, driven by a DMS project with a commercial vehicle OEM and a new agreement with NEXTY Electronics.

The company maintained stable operating expenses at $9.5 million and ended the year with $17.2 million in cash and accounts receivable. Following the discontinuation of Touch Sensor Module manufacturing, Neonode is now focusing entirely on technology licensing through its MultiSensing® and zForce® platforms.

Neonode (NASDAQ: NEON) reported Q3 2024 financial results, focusing on its continuing licensing business after discontinuing its products division in Q4 2023. Q3 revenues were $0.8 million, slightly down 0.2% year-over-year, with a net loss of $1.0 million ($0.07 per share). For the nine months ended September 30, revenue decreased 21% to $2.5 million, with a net loss of $4.4 million. The company highlighted new TSM technology agreements with NEXTY Electronics and YesAR, while noting decreased licensing revenues from legacy customers in printer and passenger car applications. Cash and accounts receivable stood at $18.6 million as of September 30, 2024.

Neonode Inc. (NASDAQ: NEON) has announced the appointment of Peter Kruk to its Board of Directors as a Class II director. Mr. Kruk currently serves as the CEO and board member of NCAB Group AB, a Nasdaq Stockholm-listed company specializing in printed circuit board production. He brings extensive experience in global industrial leadership, having previously held positions as President of the EMEA region at Dometic Group and President of Electronics at Stoneridge Inc.

Ulf Rosberg, Chairman of the Board, expressed enthusiasm about Kruk's appointment, highlighting his general management experience and deep knowledge of the automotive industry. Kruk himself stated his excitement about joining Neonode's Board, praising the company's history of innovation and pioneering technology.

Neonode Inc. (NASDAQ: NEON) has terminated its corporate broking services agreement with Redeye AB. This agreement had previously provided Neonode with financial advisory and investor relation services. Despite this change, Neonode remains committed to enhancing shareholder value and will be exploring alternative options to ensure effective communication with its stakeholders and the broader investment community.

For further information, stakeholders are directed to contact Fredrik Nihlén, the Interim President and Chief Executive Officer, as well as Chief Financial Officer of Neonode.

Neonode Inc. (NASDAQ: NEON) has announced a new license agreement for its Touch Sensor Module (TSM) technology with NEXTY Electronics , part of the Toyota Tsusho Group. The agreement, focused on the Japanese amusement market, includes an upfront technology access fee and future royalties, with an estimated value of US$2–3 million over the next four to five years.

NEXTY Electronics will manufacture TSMs in Japan using Neonode's latest offering, primarily based on surface-mount technology (SMT). This technology enables touch interactivity on larger displays and surfaces at a lower cost than alternatives. The decision to license Neonode's TSM technology is seen as a vote of confidence in Neonode's licensing-focused business strategy and innovative technologies.

Neonode Inc. (NASDAQ: NEON) reported financial results for Q2 2024. Revenues increased 18.7% to $1.4 million, driven by higher non-recurring engineering and product sales. However, licensing revenues decreased 43.9%. The company reported a net loss of $1.7 million ($0.11 per share), compared to $1.5 million ($0.10 per share) in Q2 2023. Operating expenses decreased 1.6% to $2.7 million. Cash and accounts receivable totaled $14.4 million as of June 30, 2024.

Neonode's interim CEO and CFO, Fredrik Nihlén, noted increased interest in their driver and in-cabin monitoring solutions. The company is phasing out its products business to focus on licensing, which led to last-time buy orders from customers. Despite challenges, Neonode sees promising opportunities in touch and touchless human-machine interaction technologies.

Neonode (NASDAQ: NEON) announced the adjournment of its 2024 Annual Meeting of Stockholders, initially reconvened for June 25, 2024, due to a lack of quorum. The meeting is rescheduled for July 5, 2024, at 3:00 p.m. local time at Neonode's main office in Stockholm, Sweden. The proposals to be voted on remain unchanged from those in the proxy statement filed on April 26, 2024. The record date for voting eligibility is April 22, 2024, and previously submitted proxies will still be valid unless revoked. Neonode's Board urges all stockholders who have not yet voted to do so immediately.