Neonode reported Q2 2024 financial results, with revenues increasing 18.7% YoY to $1.4M. License revenues decreased 43.9% to $0.6M due to lower customer sales volumes. Product sales surged 641.7% to $0.6M, driven by last-time buy orders as the company phases out its products business. Non-recurring engineering revenues grew 750% to $0.2M.Despite a 1.6% decrease in operating expenses, net loss widened to $1.7M ($0.11 per share) from $1.5M ($0.10 per share) in Q2 2023. Gross margin declined due to increased cost of revenue and decreased licensing revenues. Cash and accounts receivable totaled $14.4M as of June 30, 2024, down from $17.1M at year-end 2023.CEO Fredrik Nihlén noted growing interest in Neonode's driver and in-cabin monitoring solutions, as well as promising licensing opportunities for touch and touchless human-machine interaction offerings. The company remains focused on its licensing business while phasing out product manufacturing.

Neonode reported Q2 2024 financial results, with revenues increasing 18.7% YoY to $1.4M. License revenues decreased 43.9% to $0.6M due to lower customer sales volumes. Product sales surged 641.7% to $0.6M, driven by last-time buy orders as the company phases out its products business. Non-recurring engineering revenues grew 750% to $0.2M.Despite a 1.6% decrease in operating expenses, net loss widened to $1.7M ($0.11 per share) from $1.5M ($0.10 per share) in Q2 2023. Gross margin declined due to increased cost of revenue and decreased licensing revenues. Cash and accounts receivable totaled $14.4M as of June 30, 2024, down from $17.1M at year-end 2023.CEO Fredrik Nihlén noted growing interest in Neonode's driver and in-cabin monitoring solutions, as well as promising licensing opportunities for touch and touchless human-machine interaction offerings. The company remains focused on its licensing business while phasing out product manufacturing.