Neonode reported Q2 2024 revenues of $1.4 million, an 18.7% YoY increase, driven by higher product sales and non-recurring engineering revenues. However, license revenues declined 43.9% YoY. The company posted a net loss of $1.7 million ($0.11 per share) compared to $1.5 million loss in Q2 2023, as gross margins declined due to product mix shifts.Operating expenses decreased 1.6% YoY to $2.7 million, while cash used in operations rose to $1.2 million from $0.6 million last year. The company maintained a strong balance sheet with cash and receivables of $14.4 million as of June 30, 2024, though down from $17.1 million at 2023 year-end.Management highlighted growing interest in their driver and in-cabin monitoring solutions, particularly from commercial and passenger vehicle manufacturers. The company is transitioning to focus solely on licensing going forward, phasing out their products business, with recent product sales mainly reflecting last-time-buy orders from customers.

Neonode reported Q2 2024 revenues of $1.4 million, an 18.7% YoY increase, driven by higher product sales and non-recurring engineering revenues. However, license revenues declined 43.9% YoY. The company posted a net loss of $1.7 million ($0.11 per share) compared to $1.5 million loss in Q2 2023, as gross margins declined due to product mix shifts.Operating expenses decreased 1.6% YoY to $2.7 million, while cash used in operations rose to $1.2 million from $0.6 million last year. The company maintained a strong balance sheet with cash and receivables of $14.4 million as of June 30, 2024, though down from $17.1 million at 2023 year-end.Management highlighted growing interest in their driver and in-cabin monitoring solutions, particularly from commercial and passenger vehicle manufacturers. The company is transitioning to focus solely on licensing going forward, phasing out their products business, with recent product sales mainly reflecting last-time-buy orders from customers.