Welcome to our dedicated page for Neonode news (Ticker: NEON), a resource for investors and traders seeking the latest updates and insights on Neonode stock.
Neonode Inc. (NASDAQ: NEON) delivers cutting-edge optical sensing solutions through its patented zForce® and multisensing® technologies, serving automotive, consumer electronics, and industrial markets. This news hub provides investors and industry professionals with essential updates on the company’s licensing agreements, product innovations, and financial performance.
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Neonode (NASDAQ: NEON) announced the adjournment of its 2024 Annual Meeting of Stockholders due to a lack of quorum. The meeting, initially held on June 11, 2024, will reconvene on June 25, 2024, at Neonode's principal office in Stockholm. No business was conducted, and no changes have been made to the proposals listed in the April 26, 2024, proxy statement. Stockholders eligible to vote remain those recorded as of April 22, 2024. Proxies already submitted will be counted unless revoked. The Board urges all stockholders to vote 'FOR' all proposals.
Neonode (NASDAQ: NEON) has signed its first licensing agreement for its Touch Sensor Module (TSM) technology with YesAR, a Chinese leader in holographic display technology. Announced on May 22, 2024, this follows Neonode's strategic move in December 2023 to pivot its TSM business to a licensing model. The agreement entails an upfront technology access fee and future royalties.
YesAR will leverage Neonode's TSM technology to create holographic infotainment solutions for the automotive and elevator sectors, among other markets. This collaboration builds on a partnership that began in 2020. The TSM technology uses Neonode's zForce® optical sensing platform, known for its touch accuracy in various applications, including midair and rugged touch interactions.
Neonode's interim CEO, Fredrik Nihlén, emphasized the importance of this agreement in maintaining their technological leadership, while VP of Marketing & Sales, Johan Swartz, highlighted the potential for innovative solutions enabled by this technology.
Neonode Inc. reported its financial results for the quarter ended March 31, 2024, with revenue of $1.0 million, a 19.1% decrease from the previous year. The company experienced an increase in operating expenses and a net loss of $2.1 million. The change in strategy focusing on licensing business impacted revenue streams, with decreasing licensing revenues but increasing product sales. The company continues to secure contracts in the commercial vehicle industry, showing potential for growth.
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