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Neonode Reports Quarter Ended June 30, 2024 Financial Results

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STOCKHOLM, Aug. 8, 2024 /PRNewswire/ — Neonode Inc. (NASDAQ: NEON) (“Neonode” or the “Company”) today reported financial results for the three and six months ended June 30, 2024.

FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED JUNE 30, 2024:

Revenues of $1.4 million, an increase of 18.7% compared to the same period in the prior year.Operating expenses of $2.7 million, a decrease of 1.6% compared to the same period in the prior year.Net loss of $1.7 million, or $0.11 per share, compared to $1.5 million, or $0.10 per share, for the same period in the prior year.Cash used by operations of $1.2 million compared to $0.6 million for the same period in the prior year.Cash and accounts receivable of $14.4 million as of June 30, 2024 compared to $17.1 million as of December 31, 2023.

FINANCIAL SUMMARY FOR THE SIX MONTHS ENDED JUNE 30, 2024:

Revenue of $2.4 million, a decrease of 0.6% compared to the same period in the prior year.Operating expenses of $5.6 million, an increase of 0.9% compared to the same period in the prior year.Net loss of $3.8 million, or $0.25 per share, compared to $2.9 million, or $0.19 per share, for the same period in the prior year.Cash used by operations of $3.1 million compared to $2.3 million for the same period in the prior year.

COMMENTS OF THE INTERIM PRESIDENT AND CHIEF EXECUTIVE OFFICER (“CEO”) AND CHIEF FINANCIAL OFFICER (“CFO”)

“Our revenues increased in the second quarter of 2024 compared to the same quarter last year. Non-recurring engineering revenues increased and were mainly attributable to the ongoing Driver Monitoring System (“DMS”) project with the Original Equipment Manufacturer (“OEM”) of commercial vehicles customer that was announced at the end of last year. Product sales also increased in the second quarter compared to the same quarter last year, mainly as a result of last time buy orders from customers to secure supplies, following our decision to focus solely on licensing going forward and to phase out our products business. Licensing revenues decreased compared to the same quarter last year, mainly due to the demand for our legacy customers’ products being lower. Gross margin in the second quarter of 2024 compared to the same quarter last year declined and was the result of increased cost of revenue due to increased product sales and non-recurring revenues combined with decreased licensing revenues. Although our operating expenses decreased in the second quarter of 2024 compared to the same quarter last year, the decline in gross margin led to a higher net loss,” said Fredrik Nihlén, Neonode’s interim President and CEO and CFO.

“Our driver and in-cabin monitoring solutions keep attracting attention, which is positive. We find this promising and believe that our solution is not only competitive but also scalable and flexible, making the solution attractive to both commercial vehicle and passenger car manufacturers. We also keep seeing interesting licensing opportunities for our touch and touchless human-machine interaction offerings in addition to the first touch sensor module technology license agreement announced earlier this year,” concluded Mr. Nihlén.

FINANCIAL OVERVIEW FOR THE QUARTER ENDED JUNE 30, 2024

Revenues for the quarter ended June 30, 2024 were $1.4 million, an 18.7% increase compared to the same period in 2023. License revenues were $0.6 million, a decrease of 43.9% compared to the same period in 2023. The decrease was caused by lower sales volumes for our customers during the second quarter of 2024 compared to the same quarter in 2023. 

Revenues from product sales for the quarter ended June 30, 2024 were $0.6 million, a 641.7% increase compared to the same period in 2023, mainly due to last time buy orders from customers. 

Revenues from non-recurring engineering for the second quarter of 2024 were $0.2 million, a 750.0% increase compared to the same period in 2023, mainly attributable to the DMS project with the commercial vehicle OEM customer that was announced at the end of last year. 

Gross margin related to products was 26.0% for the second quarter of 2024 compared to 66.7% in the same period in 2023. The gross margin for products for the second quarter in 2024 was impacted by a one-time cost of $8,000 related to an impairment loss on inventory due to the phasing out of the manufacturing of touch sensor modules.

Our operating expenses decreased by 1.6% for the second quarter of 2024 compared to the same period in 2023, primarily due to lower payroll and related costs offset by higher professional fees.
 
Net loss for the second quarter of 2024 was $1.7 million, or $0.11 per share, compared to a net loss of $1.5 million, or $0.10 per share for the same period in 2023. Cash used by operations was $1.2 million in the second quarter of 2024 compared to $0.6 million for the same period in 2023. The increase is primarily the result of component purchases in the second quarter of 2024 and the timing of customer payments.
 
Cash and accounts receivable totaled $14.4 million and working capital was $13.2 million as of June 30, 2024, compared to $17.1 million and $16.8 million as of December 31, 2023, respectively.

For more information, please contact:

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

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https://news.cision.com/neonode/r/neonode-reports-quarter-ended-june-30–2024-financial-results,c4022393

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American Water Charitable Foundation Awards $10,000 Grant to Expand STEM Learning at Putnam Museum

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Funding supports hands-on learning, STEM career exploration and museum access for families facing financial barriers

DAVENPORT, Iowa, Nov. 10, 2026 /PRNewswire/ — The American Water Charitable Foundation, a philanthropic nonprofit organization established by American Water (NYSE: AWK), and Iowa American Water announced today that the Foundation awarded a $10,000 STEM Education grant to the Putnam Museum and Science Center. The grant will support the museum’s STEM education curriculum and programming, including expanded middle-school STEM career exploration, hands-on learning experiences and targeted access for children and families who face financial barriers to participating in museum programs.

“We’re honored to receive this American Water Charitable Foundation grant. It will allow us to both partner with schools to enhance STEM curiosity and skills through new units for students in grades K–8 and help us serve students outside of school via means such as new AI Lego workshops for middle schoolers, STEAM Saturdays, and a no-cost event for families with limited financial resources. We are truly grateful for the Foundation’s and Iowa American Water’s commitment to giving kids the skills and knowledge necessary to flourish in modern society,” said Cindy Diehl Yang, president and CEO of the Putnam Museum.

The grant will also support a specially arranged family STEM experience. Invited children and families from low-income and traditionally underrepresented communities will have access to the Science Center and other galleries. The museum has welcomed Iowa American Water employees as volunteers or activity presenters.

“At Iowa American Water, we’re proud to support STEM education that helps young people see what’s possible for their future,” said Brad Nielsen, president of Iowa American Water. “Hands-on experiences at the Putnam Museum can spark an interest in science and technology and help build the pipeline of future professionals our industry and communities need. Through the American Water Charitable Foundation’s support, this grant also helps open doors for children and families facing financial barriers, giving more students the opportunity to explore, learn and envision themselves in a STEM career.”

The STEM Education grant is part of the American Water Charitable Foundation’s Keep Communities Flowing Grant Program, which focuses on three pillars of giving: Water, People and Communities. STEM Education grants support STEM-focused curricular and extracurricular programs for students.

“The American Water Charitable Foundation is proud to support initiatives that provide access to high-quality learning students need to be successful,” said Carrie Williams, president of the American Water Charitable Foundation. “We take pride in supporting Iowa American Water’s continued efforts to be a responsible neighbor and partner in the community.”

Learn more about Iowa American Water’s community impact at iowaamwater.com.

About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 19 military installations. American Water’s approximately 7,000 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About American Water Charitable Foundation
The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over $25 million in funding through grants and matching gifts to support eligible organizations in communities served by American Water. The Foundation is funded by American Water shareholders and has no impact on customer rates. For more information, visit amwater.com/awcf.

About Iowa American Water
Iowa American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 90 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 225,000 people.  

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SOURCE American Water

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USOP and Mid State Celebrate Grand Opening of Alexandria ASC

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New Central Louisiana facility begins patient care as USOP advances surgery center development across the Southeast

ALEXANDRIA, La., Nov. 10, 2026 /PRNewswire/ — U.S. Orthopaedic Partners (USOP) and Mid State Orthopaedic & Sports Medicine Center celebrated the grand opening of Mid State Surgical Center in Alexandria on Nov. 5, marking the latest milestone in USOP’s strategy to expand access to specialized outpatient orthopedic care. The new ambulatory surgery center (ASC), dedicated to orthopedic and pain management care, has begun seeing patients.

“At the grand opening, you could feel how much this center means to the Mid State team and the Cenla community,” said Allen Anderson, Co-CEO of USOP. “These are physicians and staff who care deeply about their community, and we are proud to support them. They have put that same care into every part of this facility. Seeing their vision become a place where patients are now receiving care is a great moment for Mid State and for USOP.”

Specialized Surgical Care for Central Louisiana

Mid State Surgical Center was designed around orthopedic care, with modern operating rooms, dedicated preoperative and recovery areas, and workflows tailored to orthopedic procedures. Its advanced capabilities include robotic-assisted knee surgery and computer-assisted hip surgery, supporting surgical planning and implant positioning.

The center brings physicians, nursing, anesthesia, and recovery teams together in one specialized environment. For joint replacement patients, Mid State’s free Joint Camp also provides education before surgery, helping patients and caregivers understand what to expect during recovery and the transition home.

“Some of the capabilities we are introducing here are a first for our region,” said Jamie Rister, MD, an orthopedic surgeon at Mid State and president of Mid State Surgical Center. “We are bringing advanced technology into a setting built around orthopedic patients, with an opportunity to help set the pace for modern orthopedic care across Louisiana and the Southeast. I am grateful to my colleagues and our staff, and to USOP for its support. Most of all, I am excited for our patients in Cenla to have access to this kind of care close to home.”

Advancing ASC Development Across the Southeast

Mid State’s grand opening follows the Oct. 22 groundbreaking for Southern Orthopaedic Surgeons‘ new ASC in Montgomery, Alabama, which is planned to open in spring 2028. SportsMED‘s ASC in Huntsville, Alabama, is expected to break ground in the coming months. Development is also moving forward with Andrews Sports Medicine & Orthopaedic Center in Birmingham, extending USOP’s investment in the future of outpatient orthopedic care.

Across the platform, USOP is pairing new development with experienced ASC operating leadership and nationally recognized performance at affiliated surgery centers.

“Our ASC strategy connects the strength of established local practices with the resources to expand how and where they deliver care,” said Graham Young, Co-CEO of USOP. “We are investing in facilities and operating expertise that can create lasting value for our practices while expanding access to high-quality, cost-effective surgery. Mid State’s grand opening, the progress in Montgomery, and the developments ahead in Huntsville and Birmingham show that strategy advancing across our platform.”

About USOP

U.S. Orthopaedic Partners (USOP) is a physician-led orthopedic management services organization supporting a network of 10 practices across the Southeast. USOP partners with physicians and local practice leaders to strengthen operations and expand access to orthopedic care. Through shared resources and expertise, USOP helps practices pursue sustainable growth while preserving the local relationships and clinical leadership their communities trust. For more information, visit us-orthopartners.com.

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SOURCE U.S. Orthopaedic Partners

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Peter Thomas Roth Expands Into RCS Marketing with Listrak

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The prestige skin care brand’s first RCS campaigns beat SMS by 40% on conversion rate and 29% on revenue per send.

LITITZ, Pa., Nov. 10, 2026 /PRNewswire/ — Peter Thomas Roth, one of the largest independent prestige skin care brands in the U.S., has collaborated with its ecommerce marketing partner, the cross-channel personalization platform Listrak, to implement Rich Communication Services (RCS) messaging, delivering branded, interactive mobile messaging to RCS-enabled devices.

Since 2024, Peter Thomas Roth has partnered with Listrak to grow its ecommerce business and personalize customer communications. The addition of RCS builds upon the retailer’s mobile messaging program, delivering higher conversion rates and revenue per send than SMS.

RCS brings the features of messaging apps into the native texting app on a shopper’s phone. Android phones have supported RCS for years, and Apple added support with iOS 18 in September 2024, opening the channel to brands messaging both iPhone and Android users. Listrak was the first marketing platform provider to launch an RCS marketing campaign in the U.S., during the 2024 holiday season. With RCS, marketers can send creatively dynamic messages featuring carousels, high-resolution images, videos, and interactive buttons, while enabling quick replies and in-message engagement, and enhancing trust with verified sender information and brand styling.

Peter Thomas Roth’s recent RCS campaigns included promotions supporting several of the brand’s key fall shopping moments, including early access to sitewide sales, free gift-with-purchase offers, loyalty rewards messaging, and more.

Early RCS campaign results and program learnings included:

Higher Conversion Rates: RCS outperformed SMS on conversion rate by an average of 40% in 50/50 RCS vs. SMS tests.Increased Revenue: RCS generated 29% higher revenue per send than SMS over the same period.Growing Engagement: Click-through rates increased with each successive RCS send (going from a -14% decline on the first send to a 3% lift), suggesting engagement can strengthen as consumers become more familiar with receiving messages from a verified brand sender.Broad RCS Reach: Approximately 85% of Peter Thomas Roth’s subscribed mobile audience was RCS-enabled, with 15% of the list defaulting to SMS messaging. The results highlight the importance of identifying the RCS-addressable portion of a brand’s subscriber base before testing in order to have even 50/50 test groups across RCS/SMS.Messaging Efficiency: Branded sender names, URLs, and call-to-action buttons don’t count toward an RCS message’s character limit, so content that would be billed as two or more SMS messages can often go out as a single RCS message.

The campaigns also provided an important lesson for brands evaluating RCS: performance should be assessed across multiple sends rather than a single test. As customers become familiar with the verified sender and richer messaging experience, engagement patterns can continue to develop.

“With RCS, we can elevate the mobile messaging experience, showcasing products, highlighting promotions, and delivering tailored, personalized messages,” said Rochelle Jacobs, Managing Director, Peter Thomas Roth. “Together with our partners at Listrak, we are excited to embrace the latest in messaging technology, creating real-time consumer communications that drive results.”

“Listrak was the first marketing platform provider to launch an RCS campaign in the U.S., and we are now at the inflection point where it is becoming imperative for brands who want to build relationships with their customers to adopt RCS,” said Ross Kramer, co-founder and CEO, Listrak. “The team at Peter Thomas Roth is at the forefront, leveraging the latest innovations to connect with consumers in meaningful ways.”

About Peter Thomas Roth

PETER THOMAS ROTH IS CLINICALLY STRONGER. An influential segment leader in the beauty industry for 30 years, Peter Thomas Roth has become one of the largest independent prestige skin care brands in the USA and continues to corner the clinical market as a groundbreaking, results-focused innovator. Ingredients sourced from all over the world are formulated at the highest percentage possible to provide maximum results for flawless, healthier-looking skin. Today, Peter Thomas Roth products are sold globally and nationwide at retailers such as Sephora and Ulta Beauty. Peter Thomas Roth’s clinically stronger formulas have garnered endless awards and a cult following among millions of beauty insiders spanning generations, ethnicities, skin types and concerns.

About Listrak

Listrak is the cross-channel personalization platform for retail. By unifying customer data, identity, AI, and cross-channel marketing in one platform, Listrak enables retailers to deliver relevant, personalized experiences across email, SMS, RCS, app, web, and in-store. Listrak helps brands win new customers, increase engagement, drive conversions, strengthen loyalty, and grow revenue. Listrak publishes quarterly retail marketing benchmarks, drawn from data across its platform, at https://www.listrak.com/quarterly-benchmarks. For more information, visit https://www.listrak.com/.

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