# EDGAR Filing Document

**Accession Number:** 0000087050
**File Stem:** 0001213900-23-018701
**Filing Date:** 2023-3
**Character Count:** 43496
**Document Hash:** ef52c6a278e85fb7889571bdd6caa8d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-018701.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001213900-23-018701

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 52

**CONFORMED PERIOD OF REPORT**: 20230309

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Neonode Inc.
- **CENTRAL INDEX KEY:** 0000087050
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRONIC COMPONENTS, NEC [3679]
- **IRS NUMBER:** 941517641
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35526
- **FILM NUMBER:** 23718405

**BUSINESS ADDRESS:**
- **STREET 1:** KARLAVAGEN 100, 115 26
- **CITY:** STOCKHOLM
- **STATE:** V7
- **ZIP:** 00000
- **BUSINESS PHONE:** 46 0 8 667 17 17

**MAIL ADDRESS:**
- **STREET 1:** KARLAVAGEN 100, 115 26
- **CITY:** STOCKHOLM
- **STATE:** V7
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Neonode, Inc
- **DATE OF NAME CHANGE:** 20070813

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SBE INC
- **DATE OF NAME CHANGE:** 19920703

?xml version="1.0" encoding="utf-8"?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): March 9, 2023**

**NEONODE INC.**

**(Exact name of issuer of securities held pursuant to the plan)** 

**Commission File Number 1-35526**

---

| | |
|:---|:---|
| **Delaware** | **94-1517641** |
| **(State or other jurisdiction<br> of incorporation)** | **(I.R.S. Employer<br> Identification No.)** |

---

**Karlavägen 100, 115 26 Stockholm, Sweden**

**(Address of Principal Executive Office, including Zip Code)**

**+46 (0) 702958519**

**Registrant's telephone number, including area code:** 

**Not Applicable**

**(Former name or former address, if changed since last report)** 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which<br> registered** |
| Common Stock, par value $0.001 per share | NEON | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. Results of Operations and Financial Condition.**

On March 9, 2023, Neonode Inc. (the "Company") reported its earnings for the fiscal year ended December 31, 2022 (the "Earnings Release") and posted on the Company's website the fourth quarter and full year 2022 Presentation (the "Presentation"). A copy of the Earnings Release and the Presentation are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated herein by reference.

The information furnished pursuant to this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section, or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 7.01 Regulation FD Disclosure**

As previously announced, the Company will conduct a conference call today, Thursday, March 9, 2023 at 10:00 a.m. ET. The presentation slides to be used during the call, attached hereto as Exhibit 99.2, will be available on the "Investor Relations" section of the Company's website at www.neonode.com immediately prior to the call. The information contained in, or that can be accessed through the Company's website is not a part of this filing.

The information furnished pursuant to this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| Exhibit 99.1 | [Earnings Release of the Company dated March 9, 202<u>3</u>](ea174629ex99-1_neonode.htm) |
| Exhibit 99.2 | [Fourth Quarter and Full Year 2022 Presentation of Neonode](ea174629ex99-2_neonode.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: March 9, 2023 | NEONODE INC. | NEONODE INC. |
|  | By: | /s/ Fredrik Nihlén |
|  | Name: | Fredrik Nihlén |
|  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**Press Release**

For Release, 09:10AM ET March 9, 2023

**Neonode Reports 2022 Financial Results** 

**STOCKHOLM, SWEDEN, March 9, 2023** — Neonode Inc. (NASDAQ: NEON), today reported financial results for the fiscal year ended December 31, 2022.

**FINANCIAL SUMMARY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022:**

● Revenue of $5.7 million, a decrease of 2.8% compared to prior year.

● Operating expenses of $10.2 million, a decrease of 15.3% compared to prior year.

● Net loss of $4.9 million, or $0.36 per share, compared to $6.5 million, or $0.54 per share, for prior year.

● Cash used by operations of $6.8 million compared to $7.7 million for prior year.

● Cash and accounts receivable of $16.3 million as of December 31, 2022 compared to $18.7 million for the prior year-end.

**THE CEO'S COMMENTS**

"During 2022 we continued to execute on our strategy, with a dual focus on technology licensing and product sales. In our licensing business we focused on expanding the business with automotive customers and on solutions for driver and in-cabin monitoring, head-up display ("HUD") obstruction detection and interior controls, which generated project-related NRE revenues. We also continued to support our existing printer and automotive customers, who license our zForce technology for touch display applications. In our products business we focused on promoting and selling our Touch Sensor Module ("TSM") products to customers in the elevator and interactive kiosk sectors," said Dr. Urban Forssell, Neonode's CEO

"During the first half of the year our sales and business development continued to be hampered by pandemic-driven lock-downs and uncertain market outlooks for several of our customers, causing them to push new product development and launches into the future. Global supply chain constraints also affected several of our customers due to the lack of semi-conductors and other key components. Both factors had an adverse effect on our growth and financial performance. During the third and fourth quarters we saw indications that the situation in several of our key markets, for instance China, Japan, and Korea, started to normalize, a trend which we expect to continue in 2023. We therefore remain optimistic about our ability to significantly grow our business in 2023 and the years to come," continued Dr. Urban Forssell.

"We are confident that the key market segments and application areas we are active in: touchless interaction with elevator control panels and interactive kiosks and driver and in-cabin monitoring, and HUD obstruction detection in vehicles will increase in relevance and grow in the future, and that we are in a good position to capitalize on this growth with our TSM products and our MultiSensing and zForce technology platforms. We also believe we have good potential to grow in the medtech sector with our TSM products and zForce licensing offerings. Finally, we believe that our current sources of liquidity and capital will be sufficient to execute on our strategy and continue to grow the company and increase shareholder value," concluded Dr. Forssell.

**FINANCIAL OVERVIEW FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022**

Net revenues for fiscal 2022 were $5.7 million, a 2.8% decrease, compared to 2021. For 2022, license revenues were $4.5 million, a decrease of 6.6% compared to 2021. The decrease is primarily the result of component shortages within the printer and automotive markets related to the COVID-19 pandemic, which in turn impacted our license revenues for 2022. However, we saw a recovery of license revenues in the second half of 2022 compared to the same period in 2021.

Revenues from product sales were $1.0 million, and in line with 2021. We saw a recovery in the second half of 2022 compared to the same period in 2021, but for the full year 2022 our product sales continued to be negatively impacted by COVID-19 driven lock-downs in Asia. We are also affected by the comparatively long development and launch periods, often 12 to 18 months, or longer, for our customers' new equipment solutions, which slows our sales growth.

Gross margin related to products was 22.0% in 2022 compared to 3.5% in 2021. In 2022 and 2021 product sales gross margin was impacted by one-time adjustments related to TSM stock write-downs.

Our operating expenses decreased by 15.3% in 2022 compared to 2021, primarily due to lower staff expenses, professional fees, as well as depreciation and amortization. Operating expenses were also affected by a favorable exchange rate from Swedish Krona to US Dollar.

Net loss attributable to Neonode for fiscal 2022 was $4.9 million, or $0.36 per share, compared to a net loss of $6.5 million, or $0.54 per share, in fiscal 2021. Cash used by operations was $6.8 million fiscal 2022 compared to $7.7 million fiscal 2021. The decrease is primarily the result of a lower net loss.

Cash and accounts receivable totaled $16.3 million and working capital was $19.1 million as of December 31, 2022 compared to $18.7 million and $19.1 million as of December 31, 2021, respectively.

During the twelve months ended December 31, 2022, we sold an aggregate of 886,065 shares of common stock under the ATM Facility, resulting in net proceeds of approximately $4,686,000 after payment of commissions to B. Riley Securities and other expenses of $167,000. During January 2023, we sold an aggregate of 903,716 shares of our common stock under the ATM Facility with aggregate net proceeds to us of $7,868,000, after payment of commissions to B. Riley Securities and other expenses of $244,000.

**For more information, please contact:**

Chief Financial Officer

Fredrik Nihlén

E-mail: fredrik.nihlen@neonode.com

Phone: +46 703 97 21 09

Chief Executive Officer

Urban Forssell

E-mail: urban.forssell@neonode.com

Phone: +46 734 10 03 59

**About Neonode**

Neonode Inc. (NASDAQ:NEON) is a publicly traded company, headquartered in Stockholm, Sweden and established in 2001. The company provides advanced optical sensing solutions for contactless touch, touch, gesture control, and in-cabin monitoring. Building on experience acquired during years of advanced R&D and technology licensing, Neonode's technology is currently deployed in more than 80 million products and the company holds more than 100 patents worldwide. Neonode's customer base includes some of the world's best-known Fortune 500 companies in the consumer electronics, office equipment, automotive, elevator, and self-service kiosk markets.

NEONODE and the NEONODE logo are trademarks of Neonode Inc. registered in the United States and other countries.

For further information please visit www.neonode.com

Follow us at:

Cision

LinkedIn

Twitter

**Safe Harbor Statement**

*This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to our expectations for growth and the growing demand for our products, future performance or future events. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.*

*These risks, uncertainties, and factors include risks related to our reliance on the ability of our customers to design, manufacture and sell their products with our touch technology, the length of a customer's product development cycle, our dependence and our customers' dependence on suppliers, the COVID-19 pandemic, the global economy generally and other risks discussed under "Risk Factors" and elsewhere in Neonode's public filings with the SEC from time to time, including Neonode's annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.*

**NEONODE INC.**

**CONSOLIDATED BALANCE SHEETS**

(In thousands, except share and per share amounts)

---

| | | |
|:---|:---|:---|
|  | As of<br> December 31,<br> 2022 | As of<br> December 31,<br> 2021 |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $14816 | $17383 |
| &nbsp;&nbsp;&nbsp;Accounts receivable and unbilled revenues, net | 1448 | 1293 |
| &nbsp;&nbsp;&nbsp;Inventory | 3827 | 2520 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 707 | 836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 20798 | 22032 |
| Property and equipment, net | 282 | 376 |
| Operating lease right-of-use assets, net | 118 | 584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $21198 | $22992 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $334 | $776 |
| &nbsp;&nbsp;&nbsp;Accrued payroll and employee benefits | 951 | 1037 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 200 | 371 |
| &nbsp;&nbsp;&nbsp;Contract liabilities | 36 | 106 |
| &nbsp;&nbsp;&nbsp;Current portion of finance lease obligations | 95 | 258 |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease obligations | 83 | 425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1699 | 2973 |
| Finance lease obligations, net of current portion | 46 | 65 |
| Operating lease obligations, net of current portion | 35 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1780 | 3155 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, 25,000,000 shares authorized, with par value of $0.001; 14,455,765 and 13,575,952 shares issued and outstanding at December 31, 2022 and 2021, respectively | 14 | 14 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 227235 | 226880 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (340) | (408) |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (207491) | (202608) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Neonode Inc. stockholders' equity | 19418 | 23878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | - | (4041) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 19418 | 19837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $21198 | $22992 |

---

**NEONODE INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

(In thousands, except per share amounts)

---

| | | |
|:---|:---|:---|
|  | Years Ended | Years Ended |
|  | December 31, <br> 2022 | December 31, <br> 2021 |
| Revenues: |  |  |
| License fees | $4470 | $4787 |
| Products | 995 | 955 |
| Non-recurring engineering | 205 | 94 |
| Total revenues | 5670 | 5836 |
| Cost of revenues: |  |  |
| Products | 776 | 922 |
| Non-recurring engineering | 28 | 33 |
| Total cost of revenues | 804 | 955 |
| Total gross margin | 4866 | 4881 |
| Operating expenses: |  |  |
| Research and development | 3963 | 3546 |
| Sales and marketing | 2034 | 2839 |
| General and administrative | 4155 | 5603 |
| Total operating expenses | 10152 | 11988 |
| Operating loss | (5286) | (7107) |
| Other income (expense): |  |  |
| Interest income (expense), net | 100 | (15) |
| Other income | 21 | - |
| Total other income (expense) | 121 | (15) |
| Loss before provision for income taxes | (5165) | (7122) |
| Provision for income taxes | 118 | 146 |
| Net loss including noncontrolling interests | (5283) | (7268) |
| Less: net loss attributable to noncontrolling interests | 400 | 818 |
| Net loss attributable to Neonode Inc. | (4883) | (6450) |
| *Loss per common share:* |  |  |
| Basic and diluted loss per share | $(0.36) | $(0.54) |
| Basic and diluted – weighted average number of common shares outstanding | 13632 | 11907 |

---

**NEONODE INC.**

**CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS**

(In thousands)

---

| | | |
|:---|:---|:---|
|  | Years Ended | Years Ended |
|  | December 31,<br> 2022 | December 31,<br> 2021 |
| Net loss including noncontrolling interests | $(5283) | $(7268) |
| Other comprehensive income (loss): |  |  |
| Foreign currency translation adjustments | 68 | (4) |
| Comprehensive loss | (5215) | (7272) |
| Less: Comprehensive loss attributable to noncontrolling interests | 400 | 818 |
| Comprehensive loss attributable to Neonode Inc. | $(4815) | $(6454) |

---

 

 

**NEONODE INC.**

**CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY**

(In thousands)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Common<br> Stock<br> Shares<br> Issued | Common<br> Stock<br> Amount | Additional<br> Paid-in<br> Capital | Accumulated<br> Other<br> Comprehensive<br> Income (Loss) | Accumulated<br> Deficit | Total <br> Neonode Inc.<br> Stockholders'<br> Equity | Noncontrolling<br> Interests | Total <br> Stockholders'<br> Equity |
| **Balances, January 1, 2021** | 11504 | 12 | 211663 | (404) | (196158) | 15113 | (3223) | 11890 |
| Issuance of shares for cash, net of offering costs | 2044 | 2 | 15060 |  |  | 15062 |  | 15062 |
| Stock-based compensation | 28 |  | 157 |  |  | 157 |  | 157 |
| Foreign currency translation adjustment |  |  |  | (4) |  | (4) |  | (4) |
| Net loss | - | - | - | - | (6450 | (6450) | (818) | (7268) |
| **Balances, December 31, 2021** | 13576 | 14 | 226880 | (408) | (202608) | 23878 | (4041) | 19837 |
| Issuance of shares for cash, net of offering costs | 886 |  | 4686 |  |  | 4686 |  | 4686 |
| Stock-based compensation | 4 |  | 122 |  |  | 122 |  | 122 |
| Repurchase and retirement of stock | (10) |  | (12) |  |  | (12) |  | (12) |
| Acquisition of remaining shares Pronode |  |  | (4441) |  |  | (4441) | 4441 |  |
| Foreign currency translation adjustment |  |  |  | 68 |  | 68 |  | 68 |
| Net loss | - | - | - | - | (4883 | (4883) | (400) | (5283) |
| **Balances, December 31, 2022** | **14456** | $**14** | $**227235** | $**(340** | $**(207491** | $**19418** | $**-** | $**19418** |

---

 

 

**NEONODE INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

(In thousands)

---

| | | |
|:---|:---|:---|
|  | Years Ended | Years Ended |
|  | December 31, <br> 2022 | December 31, <br> 2021 |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Net loss (including noncontrolling interests) | $(5283) | $(7268) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 122 | 157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 120 | 632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of operating lease right-of-use assets | 399 | 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoveries of bad debt | (46) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable and unbilled revenue, net | (136) | 434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Projects in process |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | (1133) | (1440) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 37 | 247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | (460) | (406) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenues | (65) | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease obligations | (363) | (511) |
| &nbsp;&nbsp;&nbsp;Net cash used in operating activities | (6808) | (7678) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of property and equipment | (52) | (67) |
| &nbsp;&nbsp;&nbsp;Net cash used in investing activities | (52) | (67) |
| Cash flow from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock, net of offering costs | 4686 | 15062 |
| &nbsp;&nbsp;&nbsp;Repurchase of common stock | (12) |  |
| &nbsp;&nbsp;&nbsp;Principal payments on finance lease obligations | (165) | (487) |
| Net cash provided by financing activities | 4509 | 14575 |
| Effect of exchange rate changes on cash | (216) | 80 |
| Net change in cash | (2567) | 6910 |
| Cash at beginning of year | 17383 | 10473 |
| Cash at end of year | $14816 | $17383 |
| *Supplemental disclosure of cash flow information:* |  |  |
| &nbsp;&nbsp;&nbsp;Cash paid for interest | $9 | $15 |
| &nbsp;&nbsp;&nbsp;Cash paid for income taxes | $132 | $146 |
| *Supplemental disclosure of non-cash investing and financial activities:* |  |  |
| &nbsp;&nbsp;&nbsp;Right-of-use asset obtained in exchange for lease obligations | $24 | $239 |
| &nbsp;&nbsp;&nbsp;Acquisition of Pronode shares | $4441 | $- |

---

## Exhibit 99.2

**Exhibit 99.2**

![](ex99-2_001.jpg)

Q4 and FY 2022 Earnings Call March 9, 2023 2023 - 03 - 09 1© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

![](ex99-2_002.jpg)

T od a y ' s Presenters 2023 - 03 - 09 2© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) • Urban Forssell, CEO • Fredrik Nihlén, CFO

![](ex99-2_003.jpg)

Legal Disclaimer 2023 - 03 - 09 3© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) This presentation contains, and related oral and written statements of Neonode Inc. (the "Company") and its management may contain, forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward - looking statements include information about current expectations, strategy, plans, potential financial performance or future events. They also may include statements about market opportunity and sales growth, financial results, use of cash, product development and introduction, regulatory matters and sales efforts. Forward - looking statements are based on assumptions, expectations and information available to the Company and its management and involve a number of known and unknown risks, uncertainties and other factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward - looking statements. These uncertainties and risks include, but are not limited to, our ability to secure financing when needed on acceptable terms, risks related to new product development, our ability to protect our intellectual property, our ability to compete, general economic conditions including as a result of the ongoing COVID - 19 pandemic or geopolitical conflicts such as the war in Ukraine, as well as other risks outlined in filings of the Company with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Prospective investors are advised to carefully consider these various risks, uncertainties and other factors. Any forward - looking statements included in this presentation are made as of today's date. The Company and its management undertake no duty to update or revise forward - looking statements. This presentation has been prepared by the Company based on its own information, as well as information from public sources. Certain of the information contained herein may be derived from information provided by industry sources. The Company believes such information is accurate and that the sources from which it has been obtained are reliable. However, the Company has not independently verified such information and cannot guarantee the accuracy of such information.

![](ex99-2_004.jpg)

Agenda 2023 - 03 - 09 4© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

![](ex99-2_005.jpg)

Business Strategy: Technology Licensing and Product Sales INTERACTIVE KIOSKS ELEVATORS PRINTER AUTOMOTIVE TARGET SEGMENTS CUSTOMER OFFERINGS BUSINESS MODELS ZFORCE MULTISENSING TOUCH SENSOR MODULES (ZFORCE) SALES OF NRE SERVICES + TECHNOLOGY LICENSING SALES OF NRE SERVICES + PRODUCT SALES 2023 - 03 - 09 5© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

![](ex99-2_006.jpg)

Key Application Areas In Our Licensing Business: • HUD Obstruction Detection • Interior Controls • (Rugged) Touch • Gesture Sensing • Driver and In - cabin Monitoring In Our Products Business: • Contactless Touch • Touchless Touch on displays, keyboards, keypads, buttons • Holographic Touch • (Rugged) Touch on displays and other surfaces • Gesture Sensing zForce MultiSensing Touch Sensor Modules 2023 - 03 - 09 6© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

![](ex99-2_007.jpg)

Website Reflecting Strategy www.neonode.com 2023 - 03 - 09 7© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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3 - step Approach for Growth 3 Focused marketing and sales work to establish "beachheads" in key segments and markets POC and demo projects to show value of technology Scale TSM business in key markets Reinvigorate licensing business with additional customer projects Leverage existing customer relations and partner cooperations to accelerate growth Expand business scope to new market segments and further geographical markets Develop new partnerships with additional VARs and tech partners to facilitate further growth Find 2 nd source production partner Develop new customer offerings using proprietary and partner technology 2 1 2023 - 03 - 09 8© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Now Next Future

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Events Q4 2022 Tech AD, Detroit November 2022 2023 - 03 - 09 9© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) AutoTech Europe Munich November 2022 Auto HUD Tech Forum Shuzhou/Virtual November 2022 Japan Build Tokyo December 2022

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Retail Tech 2023, Japan 2023 - 03 - 09 10© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Agenda 2023 - 03 - 09 11© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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$5.7 million Revenue Total 2022 ź 3% YoY $1.0 million Revenue Products 2022 Ÿ 4% YoY 1,400 1,200 1,000 800 600 400 200 0 - 200 AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA AMER APAC EMEA Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 Thousands Q4/'22 Financial Results – Revenues Revenues by Revenue Stream and Region Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 License fees Q2 - 21 Q3 - 21 Q4 - 21 Products NRE 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 - 200 Thousands Revenues by Revenue Stream Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 License fees Products NRE 2023 - 03 - 09 12© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Q4/'22 Financial Results – Gross Profit/Margin 51% Adjusted Gross Margin TSMs\* Ÿ 13pp YoY 22% Gross Margin Products 2022 Ÿ 19pp YoY - 250% - 200% - 150% - 100% - 50% 0% 50% 100% - 200 - 100 - 150 200 150 100 50 0 - 50 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 Thousands Gross Profit/Margin Products Gross profit Gross margin 0% 10% 20% 30% 40% 50% 70% 60% 0 50 100 150 200 250 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Thousands Gross Profit/Margin TSMs Adjusted\* Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 Gross profit Gross margin 2023 - 03 - 09 13© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) \* See calculation in Appendix "Non - GAAP Financial Measures"

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Q4/'22 Financial Results – Operating Expenses $10.2 million Operating Expenses 2022 ź 15% YoY - 3,000 - 3,500 2023 - 03 - 09 14© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) - 2,500 - 2,000 - 1,500 - 1,000 - 500 0 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 Thousands Operating Expenses Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21

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Q4/'22 Financial Results – P&L - $4.9 million Net Loss 2022 Ÿ 24% YoY kUSD 2022 2021 2020 Revenues 5 670 5 836 5 984 Cost of revenues 804 955 1 078 Gross margin 4 866 4 881 4 906 Operating expenses 10 152 11 988 11 097 Operating loss - 5 286 - 7 107 - 6 191 Other income (expense) 121 - 15 - 32 Loss before provision for income taxes - 5 165 - 7 122 - 6 223 Provision for income taxes 118 146 59 Net loss including noncontrolling interests - 5 283 - 7 268 - 6 282 Less: net loss attributable to noncontrolling interests 400 818 677 Net loss attributable to Neonode Inc. - 4 883 - 6 450 - 5 605 Preferred dividends - - - 33 Net loss attributable to common shareholders of Neonode Inc. - 4 883 - 6 450 - 5 638 2023 - 03 - 09 15© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Q4/'22 Financial Results – Cash $16.3 million Cash and Accounts Receivables Dec. 31, 2022 ź 2.4 Million Dec. 31, 2021 - 3,000 - 3,500 2023 - 03 - 09 16© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) - 2,500 - 2,000 - 1,500 - 1,000 - 500 0 Q1 - 20 Q2 - 20 Thousands Net cash used in operating activities Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 $6.8 million Net Cash Burn Operating Activities 2022 ź 11% YoY

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Agenda 2023 - 03 - 09 17© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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At - The - Market Financing • We used our ATM facility during October 2022 to January 2023 2023 - 03 - 09 18© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) • Net proceeds of $12.6 million • Average price per share was $7.24 • Common stock outstanding as of Mar. 3, 2023 were 15,359,481 • The improved cash position give financial stability to execute on our strategy $4.7 Million ATM Net Proceeds Q4 2022 $7.9 Million ATM Net Proceeds Jan. 2023

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Agenda 2023 - 03 - 09 19© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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Sales Results 2022 & Outlook • Our 2022 sales revenues were on par with our 2021 sales revenues. • We remain optimistic about our ability to significantly grow our business and have several very promising opportunities in our sales funnel. 2023 - 03 - 09 20© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Plan Going Forward • We believe our strategy and strong finances make us well positioned to significantly grow our business this and the coming years. • We are adding resources to our global sales team to support growth in key sectors and markets. • We are also expanding our network of distributors, value - added resellers, and other partners for a broader reach and a quicker market penetration. Sales Marketing 2023 - 03 - 09 21© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Engineering • We continue to invest in product development to improve the added customer value our products and solutions bring and to broaden our offering. • To support these efforts and shorten our time - to - market, we are strengthening our engineering team and increasing our use of external development partners. • We continue to build on our brand and marketing platform to drive sales; • Increased focus on physical demos and POC projects. • Increased focus on events and roadshows. • Continued use of digital marketing campaigns. • Key point: Show the value of our technology.

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Driver and In - cabin Monitoring 2023 - 03 - 09 22© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Ongoing discussions with OEMs and tier 1 suppliers for mass production of driver and in - cabin monitoring solutions. MultiSensing Licensing Solutions

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HUD Obstruction Detection 2023 - 03 - 09 23© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Ongoing discussions with OEMs and tier 1 suppliers for mass production of obstruction detection solutions. zForce Licensing Solutions

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Interior Controls & Driver Monitoring 2023 - 03 - 09 24© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Neonode and EPICNPOC sign a Memorandum of Understanding to develop and deliver features for a multimodal HMI development platform for automotive OEMs and tier 1 suppliers. zForce L a i n c d e n M s i u n l g ti Se n l u s t i i n o g n L s ic e ns i n g Solutions

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CES 2023, Las Vegas 2023 - 03 - 09 25© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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TSM Applications 2023 - 03 - 09 26© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Elevator Control Panels Contactless touch solutions for elevator control panels, both for new installs and retrofit. Touchless touch and holographic touch solutions. Illustration to the right: Typical touchless touch solution using a "parallel plane" application of Neonode TSMs.

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Interactive Kiosks 2023 - 03 - 09 27© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Contactless touch solutions for interactive kiosks, both for new installs and retrofit. Touchless touch and holographic touch solutions. Illustration to the right: Maxell Aqua Park in Tokyo deploys holographic infotainment displays using Neonode TSMs. TSM Applications

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Medtech Systems 2023 - 03 - 09 28© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Elix Systems delivers retrofit display frames with Neonode TSMs that realize a robust, high - performance touch feature on displays in ultrasound systems adding a lot of value for the customer and for the end users. TSM Applications

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Medtech • Contactless touch solutions for medtech equipment and interactive kiosks in hospitals • Robust and accurate touch features, even with surgical gloves or wet hands • Touch on germ - eliminating materials such as silver or copper • Object and proximity detection for interference - free operation • Holographic patient carts by Holo Industries reduce the spread of pathogens • AnySurface keyboard by HY - LINE for easy disinfection of interactive surfaces • Elix Systems enable touch on rugged, high - quality displays in ultrasound systems, while maintaining 100% image quality (resolution, contrast, brightness) Neonode Medical Solutions Customer Implementations 2023 - 03 - 09 29© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Agenda 2023 - 03 - 09 30© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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Patent Agreement with Aequitias In May 2019, Neonode assigned two patent families related to old smartphone technology to Aequitas Technologies LLC in exchange for 50% of the net proceeds if Aequitas succeeds in monetizing the patents. Net proceeds should here be understood as gross proceeds less out of pocket expenses and legal fees. Background Facts Ongoing Litigations 2023 - 03 - 09 31© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) Neonode's Role Neonode has no insight into or influence over Aequitas' operations and, in particular, we are not involved in the lawsuits v. Apple and Samsung. Neonode will not bear any costs associated with the ongoing litigations and we are not exposed to any risks because of them. In June 2020, Neonode Smartphone LLC, a subsidiary of Aequitas Technologies LLC, filed patent infringement lawsuits against Apple Inc., and Samsung Electronics Co. Ltd. and Samsung Electronics America Inc., respectively, in the Western District of Texas, USA. Both litigations are still ongoing. Neonode has an "embedded call option" associated with its patent agreement with Aequitas Technologies LLC

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Agenda 2023 - 03 - 09 32© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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Concluding Remarks 2023 - 03 - 09 33© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) • Sales revenues 2022 were $5.7 million (2021 $5.8 million). • Net loss 2022 was $4.9 million (2021 $6.5 million). • Net cash used in operating activities 2022 was $6.8 million (2021 $7.7 million). • We continue to see strong interest in our TSMs and our zForce and MultiSensing platforms from customers globally and will use our strong cash position to drive growth through investments in sales, marketing, and product development.

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Agenda 2023 - 03 - 09 34© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) 1. Brief Strategy and Business Update 2. Q4 and FY 2022 Financial Results 3. Financing 4. Current Status and Plan Going Forward 5. Patent Litigations v. Apple, Samsung 6. Concluding Remarks 7. Q&A Neonode Inc. Q4 and FY 2022 \| March 9, 2023

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info@neonode.com neonode.com Subscribe to Neonode newsletter Thank you. 2023 - 03 - 09 35© Neonode 2001 - 2021 · www.neonode.com · Nasdaq (NEON) 2023 - 03 - 09 35© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Appendix 2023 - 03 - 09 36© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON)

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Non - GAAP Financial Measures In addition to presenting our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"), we use adjusted gross margin to measure our financial performance. We define adjusted gross margin as gross margin excluding AirBar sales revenues and costs and adjusting for costs and lost revenues caused by a quality issue and one - time write - down of inventory. We believe adjusted gross margin is a meaningful measure because it reflects the performance of our TSM business, which is our current focus. Non - GAAP financial measures should not be considered as alternatives to the most directly comparable GAAP financial measures. Our use of adjusted gross margin, a non - GAAP financial measure, has important limitations as an analytical tool because it excludes some, but not all, items that affect the most directly comparable GAAP financial measure. You should not consider adjusted gross margin in isolation or as substitutes for analysis of our results as reported under GAAP. Our definition of non - GAAP adjusted gross margin may not be comparable to similarly titled measures of other companies, thereby diminishing its utility. 2023 - 03 - 09 37© Neonode 2001 - 2023 · www.neonode.com · Nasdaq (NEON) The following tables presents a reconciliation of adjusted gross margin to gross margin, the most directly comparable GAAP financial measure. kUSD Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 22 Q2 - 22 Q3 - 22 Q4 - 22 2022 2021 2020 Revenue Products 98 66 284 502 355 346 136 118 147 210 155 483 995 955 950 Cost of Sales Products - 36 - 72 - 198 - 496 - 270 - 212 - 98 - 342 - 51 - 93 - 80 - 552 - 776 - 922 - 802 Gross Profit Products 62 - 6 86 6 85 134 38 - 224 96 117 75 - 69 219 35 150 Lost revenues TSM quality issue - - - - - - 14 12 92 - - - - - 90 - Cost of sales TSM quality issue - - - - - 4 27 - 61 - - - - - - 31 - Inventory write - down TSM quality issue - - - - - - - 154 - - - 294 294 154 - Revenue AirBar 1 - 0 - 60 - 21 - 43 - - - - 13 - - - - 13 - 43 - 79 Cost of Sales AirBar - 23 27 86 123 39 - 4 - 7 149 - - - - - 178 213 Adjusted Gross Profit Products 40 21 112 109 81 120 70 110 83 117 75 225 500 383 284 Gross Margin Products 63% - 9% 30% 1% 24% 39% 28% - 190% 65% 56% 48% - 14% 22% 4% 16% Adjusted Gross Margin Products 40% 32% 50% 23% 26% 36% 47% 52% 62% 56% 48% 47% 51% 38% 33%