Overview

* Neonode ( NEON ) Q3 revenue falls 48.7% yr/yr due to lower demand in legacy segments

* Income from continuing operations rises to $13.9 mln due to patent assignment gain

* Company attributes revenue decline to subdued demand in printer and automotive segments

Outlook

* Company anticipates continued revenue decline in legacy segments until new customer production

* Neonode ( NEON ) focuses on expanding MultiSensing AI platform in automotive sector

* Company transitions zForce platform into maintenance mode due to market dynamics

Result Drivers

* LEGACY BUSINESS DECLINE - Revenue decline attributed to lower demand in printer and automotive infotainment segments

* PATENT ASSIGNMENT GAIN - Income boosted by $15.5 mln gain from patent assignment to Aequitas

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $2.10

Operatin mln

g

Expenses

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the electronic equipment & parts peer group is "buy."

* Wall Street's median 12-month price target for Neonode Inc ( NEON ) is $6.00, about 53.2% above its November 5 closing price of $2.81

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)