Neonode Inc. Files Q3 2024 10-Q Report
Ticker: NEON · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 87050
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Neonode Inc. filed its Q3 2024 10-Q, check financials.
AI Summary
Neonode Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, incorporated in Delaware with its principal executive offices in Stockholm, Sweden, is engaged in the electronic components sector. This filing provides an update on its financial and operational status for the third quarter of 2024.
Why It Matters
This filing provides investors and stakeholders with the latest financial performance and operational details of Neonode Inc. for the third quarter of 2024, crucial for assessing the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company filing regular financial reports, Neonode Inc. faces inherent market and operational risks that are detailed within its SEC filings.
Key Players & Entities
- Neonode Inc. (company) — Registrant
- 0001213900-24-094789 (other) — Accession Number
- September 30, 2024 (date) — Quarterly period end date
- Delaware (location) — State of incorporation
- Stockholm, Sweden (location) — Principal executive offices
- 001-35526 (other) — Commission File Number
FAQ
What is the reporting period for this 10-Q filing?
The quarterly report is for the period ended September 30, 2024.
Where are Neonode Inc.'s principal executive offices located?
Neonode Inc.'s principal executive offices are located at Karlavägen 100, 115 26 Stockholm, Sweden.
What is the Commission File Number for Neonode Inc.?
The Commission File Number for Neonode Inc. is 001-35526.
In which U.S. state is Neonode Inc. incorporated?
Neonode Inc. is incorporated in Delaware.
What is the standard industrial classification for Neonode Inc.?
The standard industrial classification for Neonode Inc. is ELECTRONIC COMPONENTS, NEC [3679].
Filing Stats: 4,778 words · 19 min read · ~16 pages · Grade level 14.8 · Accepted 2024-11-06 09:20:16
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share NEON The Nasdaq Stock Market
Filing Documents
- ea0218297-10q_neonode.htm (10-Q) — 692KB
- ea021829701ex31-1_neonode.htm (EX-31.1) — 10KB
- ea021829701ex31-2_neonode.htm (EX-31.2) — 10KB
- ea021829701ex32_neonode.htm (EX-32) — 5KB
- 0001213900-24-094789.txt ( ) — 3717KB
- neon-20240930.xsd (EX-101.SCH) — 27KB
- neon-20240930_cal.xml (EX-101.CAL) — 49KB
- neon-20240930_def.xml (EX-101.DEF) — 129KB
- neon-20240930_lab.xml (EX-101.LAB) — 253KB
- neon-20240930_pre.xml (EX-101.PRE) — 137KB
- ea0218297-10q_neonode_htm.xml (XML) — 517KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION 1 Item 1
Financial Statements
Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 25 Item 4
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
PART II OTHER INFORMATION 26 Item 1
Legal Proceedings
Legal Proceedings 26 Item 1A
Risk Factors
Risk Factors 26 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5 Other Information 26 Item 6 Exhibits 26
SIGNATURES
SIGNATURES 27 EXHIBITS i
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements NEONODE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 17,599 $ 16,155 Accounts receivable and unbilled revenues, net 840 652 Inventory - - Prepaid expenses and other current assets 760 891 Current assets of discontinued operations 364 922 Total current assets 19,563 18,620 Property and equipment, net 77 110 Operating lease right-of-use assets, net - - Noncurrent assets of discontinued operations - 284 Total assets $ 19,640 $ 19,014 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 212 $ 400 Accrued payroll and employee benefits 1,115 855 Accrued expenses 142 309 Contract liabilities 25 2 Current portion of finance lease obligations 4 8 Current portion of operating lease obligations - - Current liabilities of discontinued operations 142 258 Total current liabilities 1,640 1,832 Finance lease obligations, net of current portion - 2 Noncurrent liabilities of discontinued operations - 17 Total liabilities 1,640 1,851 Commitments and contingencies Stockholders' equity: Common stock, 25,000,000 shares authorized, with par value of $ 0.001 ; 16,782,922 and 15,359,481 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 17 15 Additional paid-in capital 240,955 235,158 Accumulated other comprehensive loss ( 492 ) ( 396 ) Accumulated deficit ( 222,480 ) ( 217,614 ) Total stockholders' equity 18,000 17,163 Total liabilities and stockholders' equity $ 19,640 $ 19,014 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 NEONODE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three months ended September