Financial Performance - Revenues from continuing operations were $0.5 million, a decrease of 37.0% compared to the same period in the prior year[6] - Operating expenses from continuing operations were $2.5 million, a decrease of 8.0% compared to the same period in the prior year[6] - Loss from continuing operations was $1.8 million, or $0.11 per share, compared to a loss of $1.7 million, or $0.11 per share for the same period in the prior year[9] - Net loss for the three months ended March 31, 2025, was $1,733 million, an improvement from a net loss of $2,084 million in the same period of 2024[25] Cash Flow and Liquidity - Cash used by operations was $1.4 million, down from $1.9 million for the same period in the prior year[9] - Net cash used in operating activities decreased to $1,360 million from $1,915 million year-over-year[25] - Cash and cash equivalents at the end of the period were $14,991 million, compared to $14,274 million at the end of the same period in 2024[25] - Cash paid for income taxes remained stable at $10 million for both periods[25] - Cash paid for interest decreased to $0 million from $1 million in the previous year[25] Revenue Breakdown - License revenues were $0.5 million, a decrease of 35.7% compared to the same period in 2024, primarily due to lower demand in the printer and passenger car touch applications[7] - Revenues from non-recurring engineering were $16,000, a 61.0% decrease compared to the same period in 2024[8] Assets and Liabilities - Cash and accounts receivable totaled $15.7 million as of March 31, 2025, compared to $17.2 million as of December 31, 2024[10] - Total assets decreased to $16.972 million as of March 31, 2025, down from $18.381 million as of December 31, 2024[17] - Accounts receivable and unbilled revenues showed a net change of $(5) million, improving from $(170) million year-over-year[25] - Inventory impairment loss was recorded at $0 million for the current period, a significant decrease from $278 million in the previous year[25] Operational Highlights - The company is focusing on expanding business opportunities and advancing its product roadmap across its core technology platforms: MultiSensing® and zForce®[3] - The CEO expressed optimism about the future, particularly regarding the zForce platform's potential in touch displays and rugged applications[4] Other Financial Metrics - Property and equipment obtained in exchange for finance lease obligations amounted to $28 million, compared to $0 million in the same period last year[25] - The effect of exchange rate changes on cash and cash equivalents resulted in a loss of $34 million, contrasting with a gain of $43 million in the previous year[25] - The company made principal payments on finance lease obligations totaling $2 million, down from $9 million in the same period last year[25]
Neonode(NEON) - 2025 Q1 - Quarterly Results