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STOCKHOLM – Neonode Inc . (NASDAQ:NEON), a $135 million market cap company specializing in electronic components, announced its earnings results for the fiscal year ended December 31, 2024, today. The company, which has seen its stock surge over 560% in the past year according to InvestingPro data, made the earnings release public in accordance with a 8-K filing with the Securities and Exchange Commission.
The details of the financial results were included in Exhibit 99.1 of the 8-K filing. InvestingPro analysis reveals the company faces profitability challenges, with negative EBITDA of $11.56 million and weak gross profit margins. The company clarified that the information in the earnings release should not be considered "filed" for regulatory purposes, nor should it be deemed incorporated by reference in any subsequent filings under the Securities Act of 1933 or the Securities Exchange Act of 1934.
Neonode, incorporated in Delaware and headquartered in Stockholm, Sweden, operates within the electronic components manufacturing sector under the SIC code 3679. The company, previously known as SBE Inc., has undergone name changes in the past, with the most recent change occurring in August 2007.
The company’s common stock is listed on The Nasdaq Stock Market LLC under the ticker symbol NEON. As stated in the filing, no changes to the company’s former name or address have been reported since the last filing.
The report was signed by Fredrik Nihlén, the Interim President and Chief Executive Officer and Chief Financial Officer of Neonode Inc., confirming the accuracy and authorization of the information provided.
Investors and stakeholders interested in Neonode’s financial performance can refer to the full earnings release attached to the 8-K filing for a comprehensive view of the company’s financial condition as of the end of the 2024 fiscal year. According to InvestingPro, the company maintains strong liquidity with a current ratio of 11.93, though current analysis suggests the stock may be overvalued. For deeper insights, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers, covering this and 1,400+ other US stocks.
This news is based on a press release statement and reflects the company’s performance for the specified period.
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