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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

This information was brought to you by Cision http://news.cision.com

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

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SOURCE Neonode

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EYKON is expanding the role of the meter at the grid edge

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Latest generation of the EYKON E360 residential meter family combines proven meter-to-cash capabilities with enhanced sensing, communications and control.

VIENNA, Nov. 10, 2026 /PRNewswire/ — EYKON today introduced EYKON E360 S3, the latest generation of its EYKON E360 residential smart meter family, extending what utilities can achieve from an endpoint already deployed across the low-voltage network.

Accurate measurement and dependable meter-to-cash operations remain fundamental. But as networks become more dynamic, the meter, located at the grid connection point can provide valuable information about local grid conditions and support defined actions in the low voltage network.

EYKON E360 S3 strengthens this role, providing enhanced voltage-quality indicators, updated processing and communications architecture and hardware-based security, alongside established billing and consumption data. 

“The meter remains essential to meter-to-cash, but its value does not stop there there,” said Peter Müller, Head of BU Electricity – Residential. “With EYKON E360 S3, utilities can use the same endpoint for deeper sensing and supported control applications. Across a meter estate, that creates the potential to get much more operational value from infrastructure already in place.”

EYKON E360 S3 also supports action at the grid edge through an integrated supply control switch and, depending on the variant, additional inputs, outputs and interfaces.

The new series builds on the established EYKON E360 family with improved sustainability approach, reduced meter self-consumption by 30 % and a smaller housing with less raw material.

EYKON E360 S3 will be presented at Enlit Europe 2026 as part of the company’s wider approach to connected infrastructure, grid visibility and intelligent grid management, showing how utilities can make more of the infrastructure they already operate.

About EYKON

EYKON, formerly the Landis+Gyr EMEA business, operates as an independent utility infrastructure technology company built on more than 130 years of utility expertise. Headquartered in Switzerland, with a network of expert local teams, the company serves customers in more than 75 markets and supports over 100 million connected endpoints across the region.

Combining proven technology, deep utility expertise and real-world operational insight from one of the largest installed bases in EMEA, EYKON connects what utilities measure with how they operate. This helps customers gain greater visibility, make better decisions, maintain greater control and unlock more value from the infrastructure they already operate.

 

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SOURCE EYKON AG

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GOcxm Launches Signal IQ™ to Help CPG Brands Act on the Insights Lost Between Brand, Shopper, Trade and Sales

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The AI-powered system identifies where marketing programs and in-store execution fall short and tells the right teams what to change to improve results.

TORONTO, Nov. 10, 2026 /CNW/ — GOcxm, the unified growth platform for CPG brands, today announced the launch of Signal IQ™, an AI-powered system that connects signals across brand marketing, shopper marketing, trade marketing, sales and retail execution. It answers critical business questions and gives every team a clearer view of what’s happening and what to do next.

CPG brands typically manage these functions through separate systems, data sources and reports. Each team sees only part of the picture, often in recaps after programs end. By then, the opportunity to adjust has passed, and the same gaps carry into the next plan. Most tools are systems of record: they report what happened. Signal IQ is a system of action. It works like a dedicated team that knows a brand’s business, monitoring programs around the clock and prioritizing what needs attention.

“Every program a CPG brand runs teaches it something, but those lessons rarely reach every team that could use them,” said Gary Kalk, Founder and CEO of GOcxm. “The hard part is finding the gaps and opportunities that matter. We built Signal IQ to put those insights in the right hands, so every program makes the next one stronger.”

Signal IQ does three things:

Finds what falls between teams. It connects overlooked data across functions, turning information collected by one team into insights others can act on.Adds context to the systems brands already use. It works with existing tools and workflows, streamlining reporting and reconciliation so teams spend less time assembling information and more time acting on it.Starts informed and keeps learning. It draws on GOcxm’s years of experience running CPG programs and builds on each program a brand runs, applying those lessons to audience targeting, promotional strategy, trade investment and retail compliance.

Signal IQ is powered by multiple models, each designed to answer a specific business question using a brand’s own data on marketing, trade and retail execution performance. It brings their findings together, identifies gaps and adds context by retailer, region and store to help teams decide where to act.

Each brand’s data stays its own. Signal IQ applies GOcxm’s CPG experience to a brand’s programs without sharing that brand’s data with any other, and runs on GOcxm’s SOC 2 Type II certified platform.

Actions, not dashboards

Knowing what’s working has limited value if the findings stay in a report. Signal IQ turns those findings into specific actions and routes them to the people responsible across brand, shopper, trade, sales and field teams.

Some actions require an immediate response. When a display is missing or in the wrong spot, the field team gets specific guidance to fix it in-store. Others inform the next planning cycle, such as shifting media investment toward the channels that best support the brand’s objectives.

Consider a shopper program. Most brands learn whether it “worked” overall. Signal IQ examines products, promotion, pricing and display execution to estimate how those choices affected sales and where the next dollar could have the greatest impact. The recap becomes a playbook: which combinations to prioritize at each retailer, where to focus investment and what each team needs to do to achieve the brand’s desired outcome.

“Over the years, we’ve seen GOcxm evolve from a technology provider into a strategic partner. Signal IQ is a natural next step. Working alongside the tools and partners we already use, it brings together data and insights that were previously difficult to connect, giving our teams a clearer understanding of what’s working, where opportunities exist and how to act on them. GOcxm’s ability to turn information into smarter decisions has directly contributed to our sales growth,” said Kyle Barlow Senior Director of The Coca-Cola Company Canada.”

Signal IQ is available now for CPG brands. To request a demo, visit gocxm.com/signal-iq.

About GOcxm

GOcxm is a unified growth platform for modern CPG brands, connecting consumer activation, trade marketing and retail execution in one operating system. Signal IQ brings AI-powered intelligence across the platform, turning program and in-market data into shared insights and recommended actions. GOcxm pairs its platform with a dedicated client team and serves large CPG organizations, including Fortune 100 brands. The company is SOC 2 Type II certified and has expanded its platform through the acquisitions of MobileXCo and Emotive Technologies (Apex). Learn more at gocxm.com.

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SOURCE GOcxm

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EYKON launches Orkestra, a new software platform for modern utility operations

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Modular architecture helps utilities extract more value from existing infrastructure while protecting the continuity of critical operations

VIENNA, Nov. 10, 2026 /PRNewswire/ — EYKON today announced EYKON Orkestra, a new software platform designed to help utilities respond to growing data and operational demands without disrupting the systems they depend on today.

While metering and billing remain critical, growing grid visibility, analytics and control needs require increasing amounts of data, at greater frequency, for different operational purposes.

Orkestra scales with the needs of utilities, introducing dedicated data streams for Billing, Grid Analytics and Control, and allowing each to evolve and scale independently while remaining part of one shared, secure platform.

“Utilities need to move forward, but they cannot compromise the operation flowsthey rely on,” said Ifigeneia Stefanidou, Head of Strategy and Solutions at EYKON. “Orkestra is designed around both realities. It protects continuity of the critical operations, while creating the foundation for new data, analytics and control capabilities to develop over time.”

Its modular structure allows utilities to adopt capabilities according to their priorities, building from established metering and billing towards deeper grid insight and operational control. This creates a gradual path forward, and does not require utilities to replace what already works.

“The opportunity is in smarter data use. Putting the right data to work for the right purpose,” said Thomas Lenze, Head of product management Solutions, Software and Services. “Orkestra gives utilities a way to evolve progressively, along ever-changing regulatory requirements and always within a secure platform environment.”

EYKON Orkestra will be presented at Enlit Europe 2026, alongside EYKON’s metering, grid analytics and flexibility capabilities, demonstrating how utilities can make more of the infrastructure already in place.

About EYKON

EYKON, formerly the Landis+Gyr EMEA business, operates as an independent utility infrastructure technology company built on more than 130 years of utility expertise. Headquartered in Switzerland, with a network of expert local teams, the company serves customers in more than 75 markets and supports over 100 million connected endpoints across the region.

Combining proven technology, deep utility expertise and real-world operational insight from one of the largest installed bases in EMEA, EYKON connects what utilities measure with how they operate. This helps customers gain greater visibility, make better decisions, maintain greater control and unlock more value from the infrastructure they already operate.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/eykon-launches-orkestra-a-new-software-platform-for-modern-utility-operations-302934737.html

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