Neonode Inc. reported financial results for the second quarter ended June 30, 2025, indicating a continued decline in revenues from its legacy business. Revenues from continuing operations were $0.6 million, a 25.2% decrease compared to the same period in 2024. License revenues decreased by 34.2% to $0.4 million, primarily due to lower demand for legacy customers' products in the printer and automotive infotainment markets.
Non-recurring engineering (NRE) revenues for the second quarter of 2025 saw a modest 4.3% increase to $0.2 million compared to the prior year period. Operating expenses from continuing operations increased by 5.3% to $2.7 million. The loss from continuing operations for the quarter was $2.0 million, or $0.12 per share, compared to a loss of $1.7 million, or $0.11 per share, in Q2 2024.
Cash used by operations increased to $1.7 million in the second quarter of 2025 from $1.2 million in the same period of 2024. Daniel Alexus, President and CEO, noted that these challenges are expected to remain until new customers transition from the deployment phase to the production phase. He reiterated the company's focus on expanding business opportunities and advancing product roadmaps for its MultiSensing and zForce platforms to drive future growth and offset legacy business trends.
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