Neonode Inc. reported financial results for the first quarter ended March 31, 2025, showing a continued decline in revenues from its legacy business. Revenues from continuing operations totaled $0.5 million, a 37.0% decrease compared to $0.8 million in the same period of 2024. License revenues decreased by 35.7% to $0.5 million, primarily due to lower demand for legacy customers' products in the printer and passenger car touch markets.
Non-recurring engineering (NRE) revenues also saw a significant decrease, falling by 61.0% to $16,000, mainly due to fewer projects during the quarter. Operating expenses from continuing operations decreased by 8.0% to $2.5 million compared to Q1 2024. The loss from continuing operations was $1.8 million, or $0.11 per share, slightly higher than the $1.7 million loss in the prior year period.
Cash used by operations improved to $1.4 million in Q1 2025 from $1.9 million in Q1 2024, primarily due to a lower net loss and fewer component purchases following the phaseout of TSM manufacturing. New President and CEO Daniel Alexus, who stepped into his role on March 31, 2025, expressed optimism about Neonode's future, emphasizing a sharpened focus on customer segments mature for sustained growth and building strategic partnerships within the automotive sector for MultiSensing.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.