Neonode Reports Quarter Ended March 31, 2025 Financial Results

STOCKHOLM, SWEDEN, May 14, 2025 — 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.

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