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) is a cutting-edge technology company specializing in optical sensing solutions for contactless touch, touch, and gesture sensing. With a mission to innovate beyond conventional user interfaces, Neonode’s proprietary MultiSensing® platform and patented zForce® technology redefine user experience across various sectors, including automotive, medical, military, and home appliances.
The company's core business revolves around providing advanced touch technology solutions. Key products include their zForce® touch and gesture sensing technology, which enhances user interaction far beyond traditional methods. Neonode’s technology is embedded in millions of consumer and industrial products globally, leveraged by industry giants like Sony, Volvo, Amazon, and Barnes & Noble.
Neonode has recently announced a strategic pivot to focus solely on licensing its technology, phasing out direct product sales. This change aims to capitalize on the company’s robust IP portfolio, including the driver monitoring systems based on its MultiSensing® platform. The company has already secured a significant licensing agreement with a leading commercial vehicle OEM and is in discussions with other potential clients.
Despite facing challenges in the sales of physical products, Neonode's licensing revenues have shown stability. The company is optimistic about the growth potential in the licensing domain, particularly in automotive and medtech sectors. Recent financial results indicate focused efforts on high-potential markets, supported by strategic realignments and intensified marketing efforts.
Neonode operates across the globe, with key markets in the United States, Japan, South Korea, and Europe. The company's financial health shows a mix of decreased product sales but promising licensing revenue streams, setting a foundation for future profitability.
For the latest updates, financial results, and detailed insights into Neonode Inc., visit www.neonode.com.
Neonode (NASDAQ: NEON) will release its financial results for the third quarter on November 10, 2021. The announcement will include results for the three and nine months ended September 30, 2021. A conference call will be held on the same day at 10 AM EST, featuring key executives including CEO Urban Forssell and CFO Fredrik Nihlén. Participants can join the call using toll-free numbers, and there will be a digital replay available for 14 days post-call. For more details, contact Investor Relations.
Neonode Inc. (NASDAQ: NEON) has announced a significant partnership with a leading global elevator manufacturer to integrate its contactless touch control panels in all new elevators. Following extensive testing and evaluation, the rollout is set to commence in 2022, highlighting the competitiveness of Neonode's technology in the elevator market. CEO Urban Forssell emphasized the strategy's success in increasing awareness and driving demand, aiming to expand further with elevator manufacturers and retrofit solutions.
Neonode Inc. (NASDAQ: NEON) announced a registered direct offering of 1,808,000 shares at $7.75 each, totaling $14 million. The offering, set to close around October 25, 2021, aims to fund sales and marketing efforts, boost production of Touch Sensor Modules, and support general corporate needs. Pareto Securities is the sole placement agent. The offering is conducted under an effective shelf registration statement with the SEC. Investors are advised to review the accompanying prospectus for detailed information.
Neonode Inc. (NASDAQ: NEON) has signed a value-added reseller agreement with EIL Company Ltd. to promote and sell contactless touch solutions in China and Hong Kong. CEO Urban Forssell expressed enthusiasm for expanding their footprint in the Chinese market, citing EIL's expertise as a significant asset. EIL's CEO Ronnie Kong praised Neonode's technology and anticipated a mutually beneficial partnership. This collaboration aims to enhance Neonode's business presence in a growing market.
Neonode Inc. (NASDAQ: NEON) has partnered with Doostek for contactless self check-in kiosk trials in a major Korean airport, utilizing Neonode's touch technology. The collaboration follows a successful evaluation of Neonode's touch sensor modules commenced by Doostek in 2020. The ongoing field trial since May 2021 aims to enhance user experience for passengers, contributing to safer, virus-free travel. Urban Forssell, CEO of Neonode, expressed enthusiasm for this strategic partnership, while Doostek's CEO, Daniel Kim, acknowledged the potential for broader adoption across Korean airports.
Neonode Inc. (NASDAQ: NEON) has entered into a value-added reseller agreement with MZ Technologie to design, promote, and sell contactless touch technology products in France. MZ Technologie specializes in holographic screens and contactless solutions for interactive kiosks and elevators. The collaboration aims to accelerate the adoption of innovative solutions in these markets, leveraging MZ Technologie's established customer base. Both CEOs expressed confidence in the partnership, highlighting its potential to enhance contactless technology implementation.
Neonode Inc. (NASDAQ: NEON) announces that Shanghai Yihang Internet Technology (SYIT) will deploy its smart luggage carrier, uGO, at Beijing Daxing International Airport. The uGO trolley features Neonode's touch sensor modules, offering passengers real-time information in their language. Initial deployment began in August 2021, with plans to expand to other airports in China by Q4 2021. Urban Forssell, CEO of Neonode, expressed optimism for market adoption in the airport sector, highlighting the strong demand for contactless solutions.
On August 11, 2021, Neonode (NASDAQ: NEON) reported a revenue of $1.7 million for Q2 2021, a significant increase of 127% year-over-year. Operating expenses rose by 37.8% to $3.3 million, resulting in a net loss of $1.7 million ($0.14 per share). Cash and accounts receivable stood at $7.8 million. The CEO noted strong demand for their contactless touch solutions, particularly in Asia, with over 70% of sales from Asian customers. Gross margins improved to 87% for the quarter, up from 84% in the previous year.
Neonode Inc. (NASDAQ: NEON) announced it will release its financial results for the second quarter of 2021 on August 11, 2021. A conference call will be held the same day at 10 AM EDT, featuring CEO Urban Forssell and CFO Fredrik Nihlén, among others. Participants can join by dialing toll-free numbers or via an online link. A recording will be available for 14 days following the call. For additional inquiries, interested parties may contact investor relations.
Neonode Inc. (NASDAQ: NEON) announced its collaboration with MiTAC Computing Technology Corp. to supply Touch Sensor Modules (TSMs) for a new contactless self-service kiosk solution featuring a 32-inch display. The TSMs will enhance user safety during interactions and are ready for global promotion. This innovative kiosk technology, developed in Q2 2021, combines sensor fusion and artificial intelligence. The partnership aims to expand into new kiosk segments and promote contactless touch as the future of kiosk interaction.
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