Neonode Reports Quarter Ended March 31, 2026 Financial Results

Published: 2026-05-13 09:11:09 ET NEON

Published on 05/13/2026 at 09:11 am EDT

STOCKHOLM, SWEDEN, May 13, 2026 -- Neonode Inc. (NASDAQ: NEON) ("Neonode" or the "Company") today reported financial results for the three months ended March 31, 2026.

FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED MARCH 31, 2026:

THE CEO'S COMMENTS

"The first quarter of the year shows encouraging signs of improvement, with topline growth of nearly 20% compared to the same period last year. This growth was driven by performance across all geographies and both of our licensing platforms - MultiSensing® and zForce®. Importantly, we have transitioned from development to production with our MultiSensing automotive OEM customer, enabling us to begin generating new licensing revenue," said Daniel Alexus, President & CEO of Neonode.

"Revenue decline stabilized during the quarter and was partially offset by new growth from MultiSensing. While we expect continued decline in our zForce legacy business - particularly within the printer and automotive infotainment segments due to subdued demand - we see continued potential for license growth in MultiSensing as our automotive customer scales production."

"In summary, our priorities remain to execute on existing projects, expand strategic partnerships within the automotive sector, and explore new verticals where our technology can deliver significant customer value. A key area of focus is the retail segment, where we see opportunities in loss prevention, as well as customer analytics solutions," concluded Mr. Alexus.

FINANCIAL OVERVIEW FOR THE QUARTER ENDED MARCH 31, 2026

Revenues from continuing operations for the three months ended March 31, 2026 were $0.6 million, an increase of 19.7% compared to the same period in 2025. License revenues were $0.6 million, an increase of 19.1% 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 March 31, 2026 were $22,000, an increase of 37.5% compared to the same period in 2025. The increase was the result of increased project deliveries.

Operating expenses from continuing operations for the three months ended March 31, 2026 were $2.7 million, an increase of 8.6% compared to the same period in 2025. The increase was mainly related to increased professional fees due to recertifications of ISO 9001 and ISO 27001 and tax analysis of the net income for 2025.

Loss from continuing operations for the three months ended March 31, 2026 was $1.9 million, or $0.11 per share, compared to a loss from continuing operations of $1.8 million, or $0.11 per share for the same period in 2025.

Cash used by operations was $2.1 million in the first quarter of 2026 compared to $1.4 million for the same quarter in 2025. The increase was primarily due to a higher net loss, higher unbilled revenues and higher prepaid expenses.

Cash and accounts receivable totaled $23.8 million and working capital for continuing operations was $22.3 million as of March 31, 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: [email protected] Phone: +46 767 60 29 90 Chief Financial Officer Fredrik Nihlén E-mail: [email protected] Phone: +46 703 97 21 09

About Neonode

Neonode Inc. (NASDAQ: NEON) is a publicly traded technology company headquartered in Stockholm, Sweden. Founded in 2001, Neonode's mission is to transform the way humans and machines interact through advanced artificial intelligence and computer vision technologies.

With more than 100 patents and deployments in nearly 100 million products and vehicles worldwide, Neonode's technology is trusted by leading Fortune 500 companies across the automotive and technology sectors. The company's innovations enable intuitive, safe, and intelligent user experiences across a broad range of applications.

NEONODE and the NEONODE logo are registered trademarks of Neonode Inc. in the United States and other countries.

For more information, please visit www.neonode.com.

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Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to our expectations for growth and the growing demand for our products, future performance or future events. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements. These risks, uncertainties, and factors include risks related to our reliance on the ability of our customers to design, manufacture and sell their products with our touch technology, the length of a customer's product development cycle, our dependence and our customers' dependence on suppliers, the global economy generally and other risks discussed under "Risk Factors" and elsewhere in Neonode's public filings with the SEC from time to time, including Neonode's annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them

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