Latest news with #DanielAlexus
Yahoo
03-06-2025
- Business
- Yahoo
Neonode Set to Join Russell 2000® Index
STOCKHOLM, June 3, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) (the "Company" or "Neonode") will be added as a member of the U.S. small-cap Russell 2000 Index, effective after the U.S. market opens on June 30 as part of the 2025 Russell indexes reconstitution. Neonode, a provider of touch technology and optical sensing solutions for technologically demanding and regulated industries, debuted on the NASDAQ stock exchange in 2012 under the stock ticker symbol "NEON." Membership in the Russell 2000 Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. Neonode's stock will also be automatically added to the appropriate growth and value indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. The Russell US Indexes can be used as performance benchmarks, or as the basis for index-linked products including index tracking funds, derivatives and Exchange Traded Funds (ETFs). "Our inclusion in the Russell 2000 Index is an encouraging milestone for Neonode as we position ourselves for future success. We welcome the enhanced visibility it gives us within the investor community and look forward to sharing our progress as we continue our journey toward innovation leadership and sustainable business growth," says Daniel Alexus, President and Chief Executive Officer at Neonode. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. "The Russell indexes have continuously adapted to the evolving dynamic US economy, and it's crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market. The transition to a semi-annual reconstitution frequency from 2026 will ensure our indexes continue to represent the market and maintain the purpose of the index as a portfolio benchmark," comments Fiona Bassett, CEO of FTSE Russell, an LSEG Business. For more information on the Russell 2000 Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. For more information, please contact: Chief Financial OfficerFredrik NihlénE-mail: +46 703 97 21 09 President and Chief Executive OfficerPierre Daniel AlexusE-mail: +46 767 60 29 90 This information was brought to you by Cision The following files are available for download: neonode-set-to-join-russell-2000-20250603 Neonode Set to Join Russell 2000® Index View original content: SOURCE Neonode Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
Neonode Reports Quarter Ended March 31, 2025 Financial Results
STOCKHOLM, May 14, 2025 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) ("Neonode" or the "Company") today reported financial results for the three months ended March 31, 2025. FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2025: Revenues from continuing operations of $0.5 million, a decrease of 37.0% compared to the same period in the prior year. Operating expenses from continuing operations of $2.5 million, a decrease of 8.0% compared to the same period in the prior year. Loss from continuing operations of $1.8 million, or $0.11 per share, compared to $1.7 million, or $0.11 per share, for the same period in the prior year. Cash used by operations of $1.4 million, compared to $1.9 million for the same period in the prior year. Cash and accounts receivable of $15.7 million as of March 31, 2025 compared to $17.2 million as of December 31, 2024. THE CEO'S COMMENTS "This quarter saw a continued decline in revenues from our legacy business as demand for our solutions in the printer market maintained its negative trend. Despite these challenges, we successfully continued to deliver on our existing customer projects, even though we did not secure any new contracts during this period. We are actively working to expand our business opportunities and advance our product roadmap across both core technology platforms: MultiSensing® and zForce®. This aims to offset the negative trend within the legacy business while driving sustainable future growth," said Daniel Alexus, President & CEO of Neonode. "Having stepped into the role as President & CEO on March 31, 2025, I am gaining deeper insights into the company, its products, and its people. My optimism about Neonode's future continues to grow. The zForce platform holds significant promise for both touch on displays and rugged applications. Moving forward, we must sharpen our focus on customer segments that are mature and positioned for sustained growth," continued Mr. Alexus. "With MultiSensing, we have developed a compelling, end-to-end in-house solution that allows us to move quickly and maintain strong quality control. We are currently delivering to a previously announced commercial vehicle OEM, and we will continue to build strategic partnerships within the automotive sector. At the same time, we are exploring new verticals where our unique value proposition, especially for addressing narrow-vision challenges, can be deployed more rapidly." "Our overarching focus for both platforms remains clear: to solve real-world problems that customers care about and are willing to invest in," concluded Mr. Alexus. FINANCIAL OVERVIEW FOR THE QUARTER ENDED MARCH 31, 2025 Revenues from continuing operations for the three months ended March 31, 2025 were $0.5 million, a 37.0% decrease compared to the same period in 2024. License revenues were $0.5 million, a decrease of 35.7% compared to the same period in 2024. The decrease was mainly due to lower demand for our legacy customers' products within printer and passenger car touch applications, offset by revenues from new licensing customers. Revenues from non-recurring engineering for the three months ended March 31, 2025 were $16,000, a 61.0% decrease compared to the same period in 2024, mainly due to fewer projects. Operating expenses from continuing operations for the three months ended March 31, 2025 were $2.5 million, a 8.0% decrease compared to the same period in 2024. Loss from continuing operations for the three months ended March 31, 2025 was $1.8 million, or $0.11 per share, compared to a loss from continuing operations of 1.7 million, or $0.11 per share for the same period in 2024. Cash used by operations was $1.4 million in the first quarter of 2025 compared to $1.9 million for the same period in 2024. The decrease was primarily due to a lower net loss and fewer component purchases following the phaseout of TSM manufacturing. Cash and accounts receivable totaled $15.7 million and working capital for continuing operations was $14.1 million as of March 31, 2025, compared to $17.2 million and $16.1 million as of December 31, 2024, respectively. Our financial position and liquidity provide stability and enable us to execute our strategy to secure more licensing opportunities for our innovative technologies. For more information, please contact: CONTACT: President and Chief Executive OfficerPierre Daniel AlexusE-mail: +46 767 60 29 90 Chief Financial OfficerFredrik NihlénE-mail: +46 703 97 21 09 This information was brought to you by Cision The following files are available for download: Neonode - 1Q 2025 Earnings Release Neonode 1Q 2025 Earnings View original content:
