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Neonode | 10-Q: Q3 2024 Earnings Report

Neonode | 10-Q: Q3 2024 Earnings Report

Neonode | 10-Q:2024財年三季報
美股SEC公告 ·  2024/11/06 22:22

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Neonode Inc. reported Q3 2024 results with total revenue of $0.8 million, in line with Q3 2023. License fees decreased 12.6% to $0.7 million, while non-recurring engineering revenue rose significantly to $107,000. Net loss from continuing operations narrowed to $1.0 million from $1.1 million year-over-year.Operating expenses decreased 2.7% to $2.0 million. The company ended the quarter with $17.6 million in cash and cash equivalents, up from $16.2 million at the end of 2023. During Q3, Neonode raised $5.8 million through an at-the-market stock offering.Management believes current cash position and operating plan are sufficient to fund operations for the next 12 months. The company is focusing solely on its licensing business after phasing out TSM manufacturing. Neonode identified a material weakness in internal controls related to IT systems and is taking steps to remediate the issue.
Neonode Inc. reported Q3 2024 results with total revenue of $0.8 million, in line with Q3 2023. License fees decreased 12.6% to $0.7 million, while non-recurring engineering revenue rose significantly to $107,000. Net loss from continuing operations narrowed to $1.0 million from $1.1 million year-over-year.Operating expenses decreased 2.7% to $2.0 million. The company ended the quarter with $17.6 million in cash and cash equivalents, up from $16.2 million at the end of 2023. During Q3, Neonode raised $5.8 million through an at-the-market stock offering.Management believes current cash position and operating plan are sufficient to fund operations for the next 12 months. The company is focusing solely on its licensing business after phasing out TSM manufacturing. Neonode identified a material weakness in internal controls related to IT systems and is taking steps to remediate the issue.
Neonode Inc. 發佈了2024年第三季度的業績,總營業收入爲80萬美元,符合2023年第三季度的水平。許可費用下降了12.6%,降至70萬美元,而非經常性工程收入顯著上升至107,000美元。來自持續經營的淨虧損從去年同期的110萬美元縮小至100萬美元。營業費用下降2.7%,降至200萬美元。公司在本季度末持有現金及現金等價物1760萬美元,較2023年末的1620萬美元有所增加。在第三季度,Neonode 通過市場公開募股籌集了580萬美元。管理層認爲當前的現金狀況和運營計劃足以支持未來12個月的運營。公司在逐步淘汰TSm製造後,專注於其許可業務。Neonode 發現內部控制在IT系統方面存在重大缺陷,並正在採取措施糾正這一問題。
Neonode Inc. 發佈了2024年第三季度的業績,總營業收入爲80萬美元,符合2023年第三季度的水平。許可費用下降了12.6%,降至70萬美元,而非經常性工程收入顯著上升至107,000美元。來自持續經營的淨虧損從去年同期的110萬美元縮小至100萬美元。營業費用下降2.7%,降至200萬美元。公司在本季度末持有現金及現金等價物1760萬美元,較2023年末的1620萬美元有所增加。在第三季度,Neonode 通過市場公開募股籌集了580萬美元。管理層認爲當前的現金狀況和運營計劃足以支持未來12個月的運營。公司在逐步淘汰TSm製造後,專注於其許可業務。Neonode 發現內部控制在IT系統方面存在重大缺陷,並正在採取措施糾正這一問題。
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