Neonode Inc.

Neonode Inc. develops software and optical sensing technologies for machine perception, touch, contactless touch, and gesture input. Its core platforms include MultiSensing® for detecting and tracking persons and objects in video streams, and zForce® for optical sensing solutions used in embedded devices and industrial applications. The company operates through subsidiaries and licenses its technology to OEMs, ODMs, and Tier 1 suppliers across global markets.

359,9 %

98,7 %

411,9 %

−33,7 %

12.05

12.05

— Neonode Inc.
%
Machine perception software55% Software platforms that detect and track persons and objects in video streams using machine learning.
Optical sensing technology20% zForce-based touch, contactless touch, and gesture sensing solutions for embedded products.
Technology licensing20% Per-unit and other license arrangements with OEMs, ODMs, and Tier 1 suppliers.
Non-recurring engineering services5% Application development, customization, and integration support for customer programs.

Neonode sells primarily to automotive customers, including OEMs and Tier 1 suppliers, and also has a meaningful...

  • Automotive OEMs and Tier 1 suppliersprimary

    They license MultiSensing and zForce technologies for embedded sensing and perception functions in vehicle programs.

  • Printer and office equipment manufacturersprimary

    They use zForce-based touch and contactless sensing in printers and related devices.

  • OEMs and ODMssecondary

    They embed Neonode technology into consumer and industrial products under license agreements.

  • Industrial, medical, military, and avionics customerssecondary

    They receive ongoing support for existing zForce deployments and related engineering services.

Neonode sells to customers located in the United States, Europe, and Asia, reflecting a globally distributed licensing...

  • •Sales are made to customers in the United States, Europe, and Asia
  • •Global licensing model supports OEMs and Tier 1 suppliers across regions
  • •Foreign subsidiaries operate in Sweden, Japan, South Korea, and Taiwan
  • •Currency exposure includes SEK, JPY, KRW, and TWD versus USD
  • •Geography matters because design wins and shipments are globally dispersed

Neonode’s strategy centers on monetizing its sensing and machine perception platforms through licensing and engineering...

01
Expand MultiSensing into additional marketsmedium-term

Broader end-market adoption reduces dependence on automotive programs and increases licensing opportunities.

02
Monetize embedded design winsshort-term

Revenue is tied to customer shipments, so converting programs into production is essential.

03
Maintain legacy zForce relationshipsshort-term

Existing customers can still generate support and license revenue even without new customer acquisition.

Neonode is exposed to customer concentration, design-win timing, and shipment volatility because its revenue depends on...

high

Customer concentration and program timing

License revenue is earned when customers ship products, so delays or cancellations can reduce revenue sharply.

Scope
Automotive and printer programs
Materiality
high
high

Financing and liquidity risk

The business has historically required external capital to fund operations and development.

Scope
Equity issuance or debt arrangements
Materiality
high
medium

Platform transition risk for zForce

New customer sales have stopped for zForce, which can shrink the addressable base over time.

Scope
Legacy zForce installed base
Materiality
high
medium

Foreign exchange risk

Foreign subsidiaries use local currencies that can move against the U.S. dollar.

Scope
SEK, JPY, KRW, TWD
Materiality
medium
Revenue recognition for license fees
Affects quarterly comparability and reported top-line volatility
NRE service revenue timing
Can cause uneven revenue mix across quarters
Foreign currency translation
Impacts other income and consolidated results
Going-concern and liquidity assumptions
Important for evaluating continuity and dilution risk

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: 29/04/2026