Neonode Multisensing® touch technologies > Newsroom > Neonode Reports Second Quarter Ended June 30, 2017 Financial Results

Neonode Reports Second Quarter Ended June 30, 2017 Financial Results

Published August 9, 2017 in Press release

STOCKHOLM, SWEDEN – AUGUST 9, 2017 – Neonode Inc. (NASDAQ: NEON), the optical interactive sensing technology company, today reported financial results for the three and six months ended June 30, 2017.

Net revenue for the second quarter of 2017 was $2.3 million compared to $2.6 million for the same quarter last year. Net loss for the second quarter of 2017 was $1.0 million or $0.02 per share compared to net loss of $1.3 million or $0.03 per share last year.

“To capitalize on our investments in our most valuable assets; the zForce technology, IP, production processes and our strong client relationships, we are now manufacturing and selling multichip sensor modules to our customers. By selling modules along with our licensing business we have positioned our company to move up in the value chain, addressing a larger diverse market and expanding our customer base which we believe will generate substantially higher revenues”, said Thomas Eriksson, CEO.

“Today we are very happy to announce the closing of a private placing in Neonode, by Swedish technology investors. This is a vote of confidence in our strategy to grow the business and substantially improves our financial position, allowing us to pursue our strategy”, concluded Mr. Eriksson.

Second Quarter 2017 Business Metrics

●   Revenue from licensing was approximately $2 million or 84 percent of total revenues.

●   Revenue from NRE projects was approximately $0.15 million or 7 percent of total revenues.

●   Revenue from AirBar (B2C) was approximately $0.2 million or 9 percent of total revenues.

Conference Call Information

The Company will host a conference call Wednesday August 9, 2017 at 10AM Eastern Daylight Time (EDT)/4PM Central European Time (CET) featuring remarks by, and Q&A with, Thomas Eriksson, CEO, Lars Lindqvist, CFO and David Brunton, Head of Investor Relations.

The dial-in number for the conference call is toll-free: (877) 539-0733 (U.S. domestic) or +1 (678) 607-2005 (international). To access the call all participants must use the following Conference ID: #64327422. Please make sure to call at least five minutes before the scheduled start time.

To register for the call, and listen online, please click:

http://event.on24.com/wcc/r/1478866-1/A1FAA99A8C9D9A2B213C5C2CA55B2064

For interested individuals unable to join the live event, a digital recording for replay will be available for 30 days after the call’s completion – 8/9/2017 (13:00PM EDT) to 9/9/2017 (23:59PM EDT). To access the recording, please use one of these Dial-In Numbers (800) 585-8367 or (404) 537-3406, and the Conference ID #64327422.

About Neonode

Neonode Inc. (NASDAQ:NEON) develops and licenses optical interactive sensing technologies. Neonode’s patented optical interactive sensing technology is developed for a wide range of devices like automotive systems, printers, PC devices, monitors, mobile phones, tablets and e-readers. NEONODE and the NEONODE Logo are

trademarks of Neonode Inc. registered in the United States and other countries. AIRBAR is a trademark of Neonode Inc. All other trademarks are the property of their respective owners.

For more information please visit www.neonode.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode’s actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under “Risk Factors” and elsewhere in Neonode’s public filings with the U.S. Securities and Exchange Commission from time to time, including Neonode’s Annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today’s date, and Neonode undertakes no duty to update or revise them.

Copyright Neonode Inc. 2017. All rights reserved. Neonode is a registered trademark of Neonode Inc.

For more information, please contact:

Investor Relations:
David Brunton
Email: david.brunton@neonode.com

CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com