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 Inc. (NASDAQ: NEON) announced a partnership with Japan Aerospace Corporation for contactless self check-in kiosk trials at Narita Airport, utilizing Neonode's touch technology. The field test began on June 10 and will last three months, featuring kiosks owned by a major airport solution provider and several SkyTeam airlines. Neonode's CEO, Urban Forssell, expressed optimism over the rising interest in their technology, which aims to enhance user interaction in public spaces, especially during the upcoming Olympics and Paralympics.
Neonode Inc. (NASDAQ: NEON) has partnered with Dewhurst UK Ltd to develop and market contactless elevator control solutions using Neonode's technology. The collaboration aims to innovate elevator components, with Dewhurst launching its first product, HALO, in 2021. The HALO product features user-friendly touchless technology and has received positive feedback from installations in the UK. The partnership signifies a strategic move for both companies to expand in the contactless technology market, enhancing user safety and convenience in elevators.
Neonode Inc. (NASDAQ: NEON) reported $1.7 million in revenue for Q1 2021, reflecting a 28.7% increase year-over-year. However, operating expenses rose by 29.0% to $3.0 million, leading to a net loss of $1.6 million, or $0.14 per share, worse than the previous year's loss. Cash and accounts receivable decreased to $9.5 million. The company is focusing on expanding contactless touch solutions for elevators and kiosks, particularly in Asia. Despite growing demand, the long-term outlook for legacy business revenue remains uncertain.
Neonode Inc. (NASDAQ: NEON) is set to release its first quarter 2021 financial results on May 12, 2021. A conference call will take place on the same day at 10AM EDT.
Key executives including CEO Urban Forssell and CFO Maria Ek will discuss the results and answer questions. Interested participants can join by calling the toll-free number or using the provided online registration link. A recording of the call will be available for 14 days after the event. For more information, contact Investor Relations.
Neonode Inc. (NASDAQ: NEON) has appointed Anthony Uhrick as Vice President Sales AMER, effective immediately. Uhrick, with over 20 years in the touch screen sector, aims to enhance the company's focus on contactless technology in North America, Asia, and Europe. This appointment is part of a strategy update, replacing the previous business area organization with a regional sales structure. Johan Swartz and Jonas Wærn will lead sales in APAC and EMEA, respectively. CEO Urban Forssell expressed confidence in Uhrick's industry experience to drive growth and address market demands.
Neonode Inc. (NASDAQ: NEON) has entered an Original Equipment Manufacturer agreement with Merim Groupe to create contactless kiosk products using Neonode's Touch Sensor Modules. Merim has already implemented its AIR-CLICK solution in Burger King restaurants in France, converting traditional screens into contactless systems. After a successful trial in Paris on February 9, 2021, the AIR-CLICK product is designed for quick installation and offers a seamless ordering experience when combined with contactless payment systems. This partnership aims to enhance the QSR market.
Neonode Inc. (NASDAQ: NEON) has received an order to supply touch sensor modules to Finetek, a value-added reseller, for a major elevator OEM in South Korea. Following successful testing, contactless control panel modules are being installed for trials in existing elevators. This project signifies a critical advancement for Neonode's contactless technology in the elevator sector. Finetek anticipates positive outcomes moving into a touchless economy, supported by their collaboration with Neonode.
Neonode (NASDAQ: NEON) announced the appointment of Fredrik Nihlén as Chief Financial Officer, effective August 2, 2021. Nihlén joins from IFS, where he was Finance Director for the Nordics, and has prior experience as CFO at Cinnober Financial Technology. His recruitment reflects Neonode's belief in strong growth opportunities in contactless touch solutions. CEO Urban Forssell stated that Nihlén's financial expertise will enhance company profitability.
Neonode Inc. (NASDAQ: NEON) announced an order to supply touch sensor modules to Japan Aerospace Corporation. This order, received from a major Asian airline, aims to retrofit existing self-service kiosks with contactless touch solutions at multiple airports in Asia. CEO Urban Forssell highlighted this development as a significant breakthrough in the transportation sector, indicating potential growth in Neonode's contactless touch business.
Neonode (NASDAQ: NEON) reported a 10% decline in revenue, totaling $6.0 million for the fiscal year ended December 31, 2020. Operating expenses decreased by 5.1% to $11.1 million. The company registered a net loss of $5.6 million ($0.56 per share), a slight increase from $5.3 million in 2019. Despite these challenges, cash reserves improved to $12.2 million, up from $3.7 million last year. The CEO highlighted opportunities in contactless touch solutions and ongoing engagements with new customers in various global markets.
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