Neonode Inc., a provider of touch, contactless touch, gesture control and in-cabin monitoring technology, reported revenue and earnings declines for Q3 2023 over the prior year period, according to an earnings report. Highlights include:

  • Net revenue fell 17.5% to $1 million.
  • License revenue fell 20% to $800,000.
  • Revenue from product sales rose 5.2% to $200,000.
  • Net loss increased from $800,000 to $1.3 million.
  • Net loss per share rose from 6 cents to 8 cents.

Shares traded at $1.22 today against a 52-week range of $1.02 to $14.75.

The $1 million in quarterly revenue missed analyst expectations by $50,000, according to Seeking Alpha.

"Our licensing revenues in Q3 were slightly lower than in Q2 and the same period last year, but our licensing business shows good long-term stability and licensing revenues year-to-date are on a similar level as last year," Dr. Urban Forssell, CEO, said in the press release. "Our product sales revenues in Q3 were higher than in Q2 but, because of the slow sales in the first half of the year, products sales revenues during the first nine months are significantly lower than in the same period last year."

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