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NEON

Neonode Inc.

NEON

Neonode Inc. • NASDAQ
$2.23 ▼ -1.33% (-0.03)
Market Cap $37.43 M
52w High $29.90
52w Low $1.91
Dividend Yield 0%
P/E 4.37
Volume 158.32K
Outstanding Shares 16.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $430K ▼ $-13.389M ▼ $14.184M ▲ 3.299K% ▲ $0.85 ▲ $13.948M ▲
Q2-2025 $599K ▲ $2.703M ▲ $-1.868M ▼ -311.853% ▲ $-0.11 ▼ $-2.008M ▼
Q1-2025 $513K ▼ $2.469M ▲ $-1.733M ▼ -337.817% ▼ $-0.1 ▼ $-1.874M ▼
Q4-2024 $655K ▼ $2.307M ▲ $-1.6M ▼ -244.275% ▼ $-0.095 ▼ $-1.668M ▼
Q3-2024 $838K $2.04M $-1.087M -129.714% $-0.068 $-1.216M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.585M ▼ $32.819M ▲ $6.016M ▲ $26.803M ▲
Q2-2025 $13.238M ▼ $15.058M ▼ $2.406M ▲ $12.652M ▼
Q1-2025 $14.991M ▼ $16.972M ▼ $2.397M ▲ $14.575M ▼
Q4-2024 $16.427M ▼ $18.381M ▼ $1.939M ▲ $16.442M ▼
Q3-2024 $17.599M $19.64M $1.64M $18M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $13.934M ▲ $-1.527M ▲ $-75K ▼ $-3K $-1.653M ▲ $-1.602M ▲
Q2-2025 $-1.868M ▼ $-1.75M ▼ $25K ▲ $-3K ▼ $-1.753M ▼ $-1.725M ▼
Q1-2025 $-1.733M ▼ $-1.36M ▼ $-40K ▼ $-2K $-1.436M ▼ $-1.4M ▼
Q4-2024 $-1.6M ▼ $-1.163M ▲ $-1K ▼ $-2K ▼ $-1.172M ▼ $-1.163M ▲
Q3-2024 $-1.087M $-1.294M $0 $5.794M $4.492M $-1.294M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License Fees
License Fees
 $0 ▲$0 ▲$0 ▲$0 ▲
Nonrecurring Engineering
Nonrecurring Engineering
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Neonode’s income statement shows a company still in build-out mode rather than one with a mature, scalable business. Revenue over the past several years has been very small and has not shown clear growth momentum. Operating and net results have been consistently negative, meaning the core business has not yet covered its ongoing costs. Overall, this points to an early-stage, IP-heavy model that is still searching for stable, recurring revenue at a meaningful scale.

Balance Sheet

Balance Sheet The balance sheet is simple and lean. Total assets are small and largely made up of cash, with no reported financial debt, which reduces balance sheet risk but also highlights the company’s modest size. Equity is positive but thin, giving Neonode only a limited cushion to absorb ongoing losses. Financially, the company looks conservative in structure but constrained in resources, so its runway depends heavily on careful cost control and successful licensing deals.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, indicating the business consumes cash rather than generates it. Free cash flow has also been negative, though capital spending appears very light, which fits an asset‑light, licensing-focused model. This pattern suggests the company can stretch its cash for some time if costs stay controlled, but ultimately needs higher and more reliable licensing income or other cash sources to reach self-sufficiency.

Competitive Edge

Competitive Edge Neonode competes as a niche technology licensor rather than a mass‑market hardware vendor. Its strengths lie in a sizable patent portfolio, specialized optical sensing and in-cabin monitoring know‑how, and a move to a high‑margin licensing model. However, the company is very small compared with large automotive and touch-technology suppliers, and its success likely hinges on a limited number of substantial design wins and licensing partners. This combination creates potential upside if partnerships scale, but also concentration and execution risk if adoption is slower than hoped.

Innovation and R&D

Innovation and R&D Innovation is clearly Neonode’s core asset. Its zForce platform targets contactless and holographic interaction, while MultiSensing focuses on AI-based in-cabin and driver monitoring—both aligned with long-term trends in safety, automation, and touchless interfaces. The technology appears differentiated and well protected by patents, but the commercial payoff is still emerging. Future value will depend on turning R&D achievements into repeatable licensing programs with automotive and industrial partners, and on keeping the technology relevant as standards and competitors evolve.

Summary

Neonode is a tiny, innovation-driven licensing company with strong ideas and patents but limited current scale. Financially, it shows a pattern of very low revenue, recurring losses, modest cash reserves, and no debt, which keeps leverage risk low but leaves little room for prolonged underperformance. Strategically, its focus on automotive sensing and contactless interaction positions it in attractive, long-term growth areas, yet winning and expanding commercial deals remains the key uncertainty. Overall, this looks like a high-risk, high-uncertainty profile where outcomes will likely depend on a few critical partnerships, legal outcomes, and the company’s ability to turn its technology into durable, recurring income streams.

NEWS

November 6, 2025 · 10:01 AM UTC

Neonode Reports Quarter Ended September 30, 2025 Financial Results

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September 3, 2025 · 4:47 PM UTC

Neonode Announces Anticipated Financial Proceeds from Patent Lawsuit Settlement

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