Neonode reports FY24 EPS (37c) vs. (33c) last year

Reports FY24 revenue $3.1M vs. $3.8M last year.”Last year marked an important year of transition for Neonode (NEON) as we discontinued Touch Sensor Module manufacturing and positioned ourselves for a future fully focused on technology licensing. Our licensable technology platforms, MultiSensing and zForce, continued to generate customer interest in 2024 – resulting in non-recurring engineering fees from customer projects, which we expect to generate license revenues once these projects enter the production phase,” said Fredrik Nihlen, Neonode’s interim President and CEO and CFO. “While we are seeing a decline in revenues from our legacy business within printer and car touch applications, we are confident that we are now well-positioned to capitalize on opportunities in new applications within automotive safety and touch displays. As a testament to this, last year, we announced an award by a leading commercial vehicle original equipment manufacturer to supply MultiSensing driver monitoring system software. Neonode’s zForce-based TSM technology was also selected by NEXTY Electronics for their next-generation amusement machines. We continue to develop our technology platforms and are working closely with customers and prospects to deliver innovative licensable solutions that enhance our market position and expand the applications addressable with our technology,” concluded Mr. Nihlen.