Neonode Reports Quarter Ended June 30, 2026 Financial Results

STOCKHOLM, Aug. 12, 2026 /PRNewswire/ -- Neonode Inc. (NASDAQ: NEON) ("Neonode" or the "Company") today reported financial results for the three and six months ended June 30, 2026.

FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED JUNE 30, 2026:

• Revenues from continuing operations of $0.5 million, an decrease of 20.4% compared to the same period in the prior year.
• Operating expenses from continuing operations of $2.8 million, an increase of 3.2% compared to the same period in the prior year.
• Loss from continuing operations of $2.1 million, or $0.13 per share, compared to a loss of $2.0 million, or $0.12 per share, for the same period in the prior year.
• Cash used by operations of $1.9 million, compared to $1.8 million for the same period in the prior year.
• Cash and accounts receivable of $21.7 million as of June 30, 2026 compared to $25.8 million as of December 31, 2025

FINANCIAL SUMMARY FOR THE SIX MONTHS ENDED JUNE 30, 2026: 

• Revenues from continuing operations of $1.1 million, a decrease of 1.9% compared to the same period in the prior year.
• Operating expenses from continuing operations of $5.5 million, an increase of 5.8% compared to the same period in the prior year.
• Loss from continuing operations of $4.0 million, or $0.24 per share, compared to a loss of $3.8 million, or $0.23 per share, for the same period in the prior year.
• Cash used by operations of $4.0 million, compared to $3.1 million for the same period in the prior year

THE CEO'S COMMENTS

"During the second quarter, we continued to make progress in the transformation of Neonode toward a more scalable software licensing business. While total revenue declined due to lower non-recurring engineering revenue, license revenue increased compared to the same period last year. Most notably, MultiSensing® license revenue grew more than fivefold in the second quarter of 2026 compared with the same period in 2025, reflecting our automotive customer's continued production ramp-up and the increasing adoption of our technology," said Daniel Alexus, President & CEO of Neonode.

"Beyond revenue growth, we achieved several important milestones during the quarter. We strengthened the competitiveness of our MultiSensing platform through continued product development, met key performance targets for automotive sensing applications, and advanced engagements with automotive OEMs, tier 1 suppliers and strategic partners. These activities reinforce our confidence in the long-term opportunity for our technology and support our continued expansion of the licensing business."

"Looking ahead, our priorities remain clear: execute on existing customer programs, convert ongoing evaluations and partner engagements into commercial agreements, and expand our presence in selected growth markets. Supported by a strong balance sheet and liquidity position, we believe Neonode is well positioned to capitalize on future licensing opportunities and create long-term value for shareholders," concluded Mr. Alexus.

FINANCIAL OVERVIEW FOR THE QUARTER ENDED JUNE 30, 2026

Revenues from continuing operations for the three months ended June 30, 2026 were $0.5 million, a decrease of 20.4% compared to the same period in 2025. License revenues were $0.4 million, an increase of 9.2% compared to the same period in 2025. The increase was mainly due to new license agreements. Revenues from non-recurring engineering for the three months ended June 30, 2026 were $36,000, a decrease of 81.5% compared to the same period in 2025. The decrease was the result of decreased project deliveries.

Operating expenses from continuing operations for the three months ended June 30, 2026 were $2.8 million, an increase of 3.2% compared to the same period in 2025. The increase was mainly related to higher advertising and travel expenses.

Loss from continuing operations for the three months ended June 30, 2026 was $2.1 million, or $0.13 per share, compared to a loss from continuing operations of $2.0 million, or $0.12 per share for the same period in 2025.

Cash used by operations was $1.9 million in the first quarter of 2026 compared to $1.8 million for the same quarter in 2025. The increase was primarily due to a higher net loss and smaller reduction in accounts receivable compared to the same period in 2025.

Cash and accounts receivable totaled $21.7 million and working capital for continuing operations was $20.3 million as of June 30, 2026, compared to $25.8 million and $24.1 million as of December 31, 2025, 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:

President and Chief Executive Officer
Pierre Daniel Alexus
E-mail: daniel.alexus@neonode.com
Phone: +46 767 60 29 90

Chief Financial Officer
Fredrik Nihlén
E-mail: fredrik.nihlen@neonode.com
Phone: +46 703 97 21 09

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