olivLaw · US equity research
Neonode Inc. NEON
Electronic Components, NEC · SIC 3679 · Vertical: Electronic Components, NEC (SIC 3679)
Neonode Inc. develops machine perception technology, mainly driver and in-cabin monitoring software for the automotive industry, and earns most of its revenue by licensing it to OEMs and Tier 1 suppliers. The company is shifting from hardware products to software licensing, and its revenue fell in 2025 to 2.1 million USD, while its MultiSensing licence revenue has begun to grow strongly in 2026.
At the close of 04 Nov 2026, Neonode Inc. (NEON) stock was 0.63 USD (−2.25% on the day), with market capitalisation 10.5 m USD, P/E 1.2 on diluted EPS of 0.51 USD over the last 12 months, beta 1.34, 52-week range 0.63–2.81 USD. Latest reported quarter (Q2 2026): revenue of 477.0 k USD (−20.4% YoY), net income of -2.1 m USD, diluted EPS -0.13 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 21.3
- oversold (≤ 30)
- Bollinger (20, 2)
- 0.60 – 0.90
- in the lower half of the band · %B 0.08 · band width 39.8%
- SMA 50 / 200
- 0.83 / 1.27
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.05
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −31.3% | −1.1% | −30.2 pp | — |
| 3 months | −31.3% | −0.5% | −30.8 pp | — |
| 6 months | −64.0% | +4.4% | −68.4 pp | — |
| Year to date | −64.0% | +12.3% | −76.4 pp | — |
| 1 year | −77.8% | +13.5% | −91.4 pp | +14.7% |
| 3 years | −55.6% | +76.4% | −132.0 pp | +61.4% |
| 5 years | −93.5% | +63.7% | −157.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 838.0 k | 655.0 k | 513.0 k | 599.0 k | 430.0 k | 520.0 k | 614.0 k | 477.0 k |
| Cost of revenue | 23.0 k | 52.0 k | 9.0 k | 6.0 k | 9.0 k | 2.0 k | 4.0 k | 9.0 k |
| Gross profit | 815.0 k | 603.0 k | 504.0 k | 593.0 k | 421.0 k | 518.0 k | 610.0 k | 468.0 k |
| Research & development | 822.0 k | 752.0 k | 975.0 k | 1.1 m | 794.0 k | 936.0 k | 905.0 k | 1.0 m |
| SG&A | — | — | 196.0 k | — | — | — | — | — |
| Operating income | -1.2 m | -1.7 m | -2.0 m | -2.1 m | 13.8 m | -2.4 m | -2.1 m | -2.3 m |
| Depreciation & amortisation | 9.0 k ≈ | 9.0 k | 9.0 k | 14.0 k ≈ | 14.0 k ≈ | 13.0 k | 16.0 k | 17.0 k ≈ |
| Pre-tax income | -1.1 m | -1.5 m | -1.8 m | -2.0 m | 13.9 m | -2.1 m | -1.9 m | -2.1 m |
| Income tax | -11.0 k | 5.0 k | -10.0 k | 0 | 0 | 1.0 k | 1.0 k | 1.0 k |
| Net income | -1.1 m | -1.6 m | -1.7 m | -1.9 m | 14.2 m | -2.1 m | -1.9 m | -2.1 m |
| Diluted EPS | -0.07 | -95.34 ≈ | -0.10 | -0.11 | 0.85 | — | -0.11 | -0.13 |
| Operating cash flow | -1.3 m ≈ | -1.2 m | -1.4 m | -1.8 m ≈ | -1.5 m ≈ | -5.6 m | -2.1 m | -1.9 m ≈ |
| Capex | 0 ≈ | 0 | 40.0 k | -25.0 k ≈ | 75.0 k ≈ | 1.0 k | 13.0 k | 1.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.5 m | 6.6 m | 6.0 m | 5.8 m | 5.7 m | 3.8 m | 3.1 m | 2.1 m |
| Revenue YoY | −16.6% | −22.2% | −10.0% | −2.5% | −2.8% | −32.5% | −18.8% | −33.7% |
| Net income | -3.1 m | -5.3 m | -6.3 m | -6.5 m | -4.9 m | -10.1 m | -6.5 m | 8.5 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | -0.54 | -0.36 | -0.66 | -0.41 | 0.51 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -35.8% | -79.7% | -105.0% | -110.5% | -86.1% | -264.4% | -208.0% | 411.9% |
| Free cash flow | -3.1 m | -3.6 m | -5.8 m | unavailable | -6.9 m | -6.4 m | -5.6 m | -10.3 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 25.4 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 24.7 m USD
- Total assets
- 26.9 m USD
- Debt / equity
- unavailable
- Current ratio
- 12.05x
- ROE
- 41.3%
- ROA
- 37.5%
- FCF margin
- -501.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 6.0 m | 5.8 m | 5.7 m | 3.8 m | 3.1 m | 2.1 m | SEC (XBRL)· 18 Mar 2026verified |
| Cost of revenue | 1.1 m | 955.0 k | 804.0 k | 12.0 k | 116.0 k | 26.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Gross profit | 4.9 m | 4.9 m | 4.9 m | 3.8 m | 3.0 m | 2.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Research & development | 4.1 m | 3.5 m | 4.0 m | 3.8 m | 3.4 m | 3.8 m | SEC (XBRL)· 18 Mar 2026verified |
| SG&A | — | — | 35.0 k | 1.5 m | 1.3 m | — | SEC (XBRL)· 21 Mar 2025verified |
| Operating income | -6.2 m | -7.1 m | -5.3 m | -5.7 m | -6.5 m | 7.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Depreciation & amortisation | 767.0 k | 632.0 k | 120.0 k | 47.0 k | 58.0 k | 50.0 k | SEC (XBRL)· 18 Mar 2026verified |
| EBITDA | -5.4 m ≈ | -6.5 m ≈ | -5.2 m ≈ | -5.7 m ≈ | -6.5 m ≈ | 7.4 m ≈ | SEC (XBRL)· 18 Mar 2026derived |
| Interest expense | 27.0 k | 15.0 k | — | — | — | — | SEC (XBRL)· 10 Mar 2022verified |
| Pre-tax income | -6.2 m | -7.1 m | -5.2 m | -5.0 m | -5.9 m | 8.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Income tax | 59.0 k | 146.0 k | 118.0 k | 115.0 k | 15.0 k | -9.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Net income | -6.3 m | -6.5 m | -4.9 m | -10.1 m | -6.5 m | 8.5 m | SEC (XBRL)· 18 Mar 2026verified |
| Diluted EPS | — | -0.54 | -0.36 | -0.66 | -0.41 | 0.51 | SEC (XBRL)· 18 Mar 2026verified |
| Weighted average diluted shares | — | 11.9 k | 13.6 k | 15.3 k | 15.9 k | — | SEC (XBRL)· 21 Mar 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 10.5 m | 17.4 m | 14.8 m | 16.2 m | 16.4 m | 25.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Receivables | 1.7 m | 1.3 m | 1.4 m | 917.0 k | — | — | SEC (XBRL)· 28 Feb 2024verified |
| Inventories | 1.3 m | 2.5 m | 610.0 k | 610.0 k | — | — | SEC (XBRL)· 28 Feb 2024verified |
| Current assets | 14.7 m | 22.0 m | 20.8 m | 18.6 m | 17.7 m | 26.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Property, plant & equipment, net | 1.0 m | 376.0 k | 282.0 k | 110.0 k | 62.0 k | 145.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Total assets | 16.6 m | 23.0 m | 21.2 m | 19.0 m | 18.4 m | 26.9 m | SEC (XBRL)· 18 Mar 2026verified |
| Accounts payable | 1.1 m | 776.0 k | 334.0 k | 400.0 k | 229.0 k | 464.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Current liabilities | 4.2 m | 3.0 m | 1.7 m | 1.8 m | 1.6 m | 2.2 m | SEC (XBRL)· 18 Mar 2026verified |
| Total liabilities | 4.7 m | 3.2 m | 1.8 m | 1.9 m | 1.9 m | 2.2 m | SEC (XBRL)· 18 Mar 2026verified |
| Equity | 11.9 m | 19.8 m | 19.4 m | 17.2 m | 16.4 m † | 24.7 m † | SEC (XBRL)· 18 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -5.8 m | -7.7 m | -6.8 m | -6.3 m | -5.6 m | -10.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Capex | 60.0 k | — | 52.0 k | 123.0 k | 37.0 k | 91.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Free cash flow | -5.8 m ≈ | — | -6.9 m ≈ | -6.4 m ≈ | -5.6 m ≈ | -10.3 m ≈ | SEC (XBRL)· 18 Mar 2026derived |
| Investing cash flow | -58.0 k | -67.0 k | -52.0 k | -123.0 k | 152.0 k | 19.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Financing cash flow | 13.6 m | 14.6 m | 4.5 m | 7.8 m | 5.8 m | -11.0 k | SEC (XBRL)· 18 Mar 2026verified |
| Share repurchases | — | — | 12.0 k | — | — | — | SEC (XBRL)· 09 Mar 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 10.5 m USD
Key indicators
Coverage and freshness
Score by group
72% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 98.8% | 100 (on a fixed band) | 15% |
| EBIT margin · Quality | 345.6% | 100 (vs peers) | 12% |
| FCF margin · Quality | -550.5% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | -28.6% | 0 (on a fixed band) | 24% |
| Revenue growth (YoY) · Growth | -33.7% | 8 (vs peers) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 10.9x | 100 (on a fixed band) | 9% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -107.0% | 0 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth3/100 · 2/2 factors with a value
- Quality69/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Neonode Inc. (NEON). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.1 m USD in 2025; YoY growth -33.7%; net margin 397.8%; ROE 48.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Gross margin: 98.8%
- EBIT margin: 345.6%
- Current ratio: 10.9x
What contradicts it
- FCF margin: -550.5%
- Revenue CAGR 3Y: -28.6%
- Revenue growth (YoY): -33.7%
- FCF yield: -107.0%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Electronic Components, NEC (SIC 3679) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| VRTVertiv Holdings Co | 79.1 bn | 38.4 | 46.6% | 16.0% | +27.7% | +14% / +371% |
| AEISAdvanced Energy Industries, Inc. | 8.6 bn | 30.4 | 19.9% | 12.7% | +21.4% | +0% / +123% |
| PIImpinj, Inc. | 5.6 bn | — | -3.8% | -2.5% | −1.4% | +5% / +116% |
| VICRVicor Corporation | 1.9 bn | 41.7 | 23.5% | 32.2% | +26.1% | +78% / +335% |
| VREXVarex Imaging Corp | 779.3 m | 35.4 | 4.6% | 2.6% | +4.1% | +60% / −2% |
| MPTIM-tron Industries, Inc. | 277.8 m | 23.5 | 12.4% | 16.3% | +11.0% | +24% / +85% |
| ESPEspey Mfg. & Electronics Corp. | 152.7 m | 12.9 | 20.1% | 24.2% | +4.9% | +29% / +197% |
| LGLLgl Group Inc | 84.6 m | — | -0.6% | -5.0% | −2.9% | +15% / +38% |
| MVISMicroVision, Inc. | 42.2 m | — | -197.8% | -2,230.6% | −74.3% | −91% / −97% |
| NSYSNortech Systems Incorporated | 31.2 m | 29.4 | 3.0% | 0.6% | +723.6% | +59% / +26% |
| OSTOstin Technology Group Co., Ltd. | 23.7 m | — | -169.1% | -26.0% | +22.2% | −97% / −99% |
| NEONNeonode Inc. | 10.5 m | 1.3 | 48.6% | 397.8% | −33.7% | −78% / −56% |
| LPLLG Display Co., Ltd. | — | — | -37.2% | -9.6% | +24.8% | −39% / −45% |
1- and 3-year price returns: for NEON from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.33 Total return -47% · Per year -47% | 0.59 Total return -5% · Per year -5% | 0.90 Total return 44% · Per year 44% |
| 3 years | 0.27 Total return -58% · Per year -25% | 0.54 Total return -14% · Per year -5% | 0.90 Total return 44% · Per year 13% |
| 5 years | 0.21 Total return -66% · Per year -20% | 0.48 Total return -23% · Per year -5% | 0.90 Total return 44% · Per year 8% |
- Exit P/E± 0.13
- Net margin± 0.09
- Annual revenue growth± 0.08
- Annual dilution± 0.01
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Neonode Inc. develops machine perception technology, mainly driver and in-cabin monitoring software for the automotive industry, and earns most of its revenue by licensing it to OEMs and Tier 1 suppliers. The company is shifting from hardware products to software licensing, and its revenue fell in 2025 to 2.1 million USD 1, while its MultiSensing licence revenue has begun to grow strongly in 2026 3.
SWOT
Strengths
- The company holds patented technology with intellectual property rights in several jurisdictions, and a installed base of products shipped by its customers over many years.
- Liquidity remains solid, with cash and receivables that support near-term operations, and management says it has sufficient capital for at least a year.
Weaknesses
- Revenue is very small and falling, and the company has recorded net losses in almost every year since its founding, leaving a very large accumulated deficit.
- Dependence on a small number of customers means that the loss of any one of them would have a major effect on revenue.
- Research and administrative costs are large relative to revenue, and the company could need additional capital in the future.
Opportunities
- If automotive production at customers increases, MultiSensing licences could generate higher and more stable revenue than in the past.
- Expansion into new markets such as Japanese amusement, holographic interaction or retail self-service could open new revenue sources.
- Strategic partnerships with other technology companies and automotive suppliers could speed up adoption and turn evaluations into commercial agreements.
Threats
- Competition in driver monitoring is intense, and larger rivals may offer solutions at lower cost or with superior performance.
- Geopolitical tensions and inflation could disrupt supply chains and reduce demand for customers' end products.
- Defending patents can be costly and patents can be challenged, which could reduce the company's competitive advantage.
Risks
- Dependence on a few customershigh
A very small number of customers generates almost all revenue, and the loss or reduced activity of one of them could have a significant negative effect.
- Need for additional capitalhigh
The company has recorded losses in most years and could need further financing, which might only be available on unfavourable terms or not at all.
- Long launch cycles of customer productsmedium
Delays in launching customer products can postpone licence revenue and make financial results very volatile from quarter to quarter.
- Dependence on ASIC chip suppliersmedium
The ASICs that embed Neonode technology are made by a few third-party suppliers, and a supply problem could prevent customers from shipping products.
- Difficulty verifying royaltieslow
Verifying amounts owed by licensees is costly and slow, and audits can be disputed, which could lead to lost revenue.
Investment thesis
What would need to be true (bull case)
- If the growth in MultiSensing licences from the automotive industry is sustained, the company could show a successful shift to more stable and scalable software revenue.
- The number of licence agreements is stable, and there is a prospect that new customers begin shipping products with Neonode technology.
- Liquidity and a high gross margin model could give the company time to turn partnerships and evaluations into commercial contracts.
What would break the thesis
- Total revenue fell in 2025 and in the first half of 2026, and if the trend persists the company could keep posting net losses and need capital.
- Customer concentration and dependence on a few automotive programmes could make revenue very vulnerable to delays or the loss of a single customer.
- The driver monitoring market is contested by many competitors, and if they offer cheaper solutions the company could lose position on price.
What to watch
- Development of MultiSensing licence revenue and the number of customers shipping productsQ3 2026
- Signing of new commercial agreements from partnerships with OEMs and Tier 1 suppliers2026
- Cash and receivables levels, and whether new financing is needednext 10-K
- Results of the first deliveries in the retail self-service segment, if evaluation confirms demand2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Neonode provides software solutions for machine perception that use advanced machine learning to detect and track persons and objects in video streams, based on its MultiSensing® platform 1. It phased out its TSM product business during 2024, reported as discontinued operations, and focused fully on licensing 1. In September 2025 the zForce platform was moved into maintenance mode, with no sales to new customers 1.
The revenue model rests on licence fees paid per unit when customers ship products with Neonode technology, plus non-recurring engineering services for application development 1. At December 31, 2025 the company had 36 valid technology licence agreements with OEMs, ODMs and Tier 1 suppliers 1, and the same number stood at June 30, 2026 2. The company reported 39 employees at the end of 2025 1.
The strategy aims to capture a significant share of the growing driver and in-cabin monitoring market through its machine perception business, internal innovation, co-development with customers and strategic partnerships 1. The company has also identified automated retail self-service check-out as a new vertical that could become an important growth bet if market demand is confirmed 1.
Segments
Licensing
Licence fees made up almost all revenue, at 88.4% of 2025 revenue, coming from consumer electronics, automotive and amusement customers 1. Licence revenue fell in 2025 because of weaker demand for legacy printer and passenger-car touch products 1.
Non-recurring engineering (NRE)
NRE services relate to application development and proof-of-concept projects for the zForce and MultiSensing platforms, and fell in 2025 as project deliveries declined 1. In the second quarter of 2026 NRE revenue dropped sharply year on year, which accounted for most of the decline in total revenue 3.
Market context
Trends
- Growth in driver monitoring systemstailwind
The company says the driver and in-cabin monitoring market is growing and that production ramp-ups at its automotive customers are beginning to accelerate, which could support demand for MultiSensing technology 13.
- Shift to a software licensing modelmixed
Exiting hardware sales and focusing on licensing could reduce revenue volatility over the long term, but in the short term it lowers revenue and the number of active customers 12.
- Geopolitical tensions and inflation pressureheadwind
The war in Ukraine and the war with Iran have raised energy and commodity prices and could disrupt supply chains, costs and demand for technology 2.
- Long customer development cyclesheadwind
The typical product development and release cycle of customers lasts 18 to 36 months, which delays revenue and makes it lumpy from quarter to quarter 1.
Competitive position
Driver monitoring software competes with providers such as SmartEye, Cipia, Xperi, Seeing Machines, PUX and Jungo 1. The optical zForce technology competes with resistive and capacitive touch, other optical technologies, and ultrasonic and radar, where price, resolution and detection range are the main differentiators 1.
In gesture sensing, competitors include Ultraleap and radar and ultrasonic chip suppliers such as Texas Instruments and Acconeer 1. The company relies on a patent portfolio covering optical blocking, reflective optical technology and machine perception, but the value of that advantage may be limited 1.
- SmartEye
Driver and in-cabin monitoring software provider competing directly with MultiSensing in the automotive market.
- Seeing Machines
Driver monitoring solutions provider named among the company's Tier 2 software competitors.
- Ultraleap
Competitor in gesture detection, in the optical and hand-tracking sensing space.
- Texas InstrumentsTXN
Maker of radar and ultrasonic chips for gesture detection, and also a manufacturer of the ASIC components used in Neonode products.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report12 Aug 2026
- Current report12 Aug 2026Results of operations · Financial statements and exhibits
- Current report07 Aug 2026Delisting notice
- Current report17 Jun 2026Shareholder vote
- Quarterly report13 May 2026
- Current report13 May 2026Results of operations · Financial statements and exhibits
- Proxy statement30 Apr 2026
- Annual report18 Mar 2026
- Current report18 Mar 2026Results of operations · Financial statements and exhibits
- Quarterly report06 Nov 2025
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Neonode Inc. · 18 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Neonode Inc. · 12 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Neonode Inc. · 12 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.