Neonode Inc. (NEON) Q3 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

We consider these various risks, uncertainties and other factors. Any forward-looking statements included in the presentation are made as of today's date. We undertake no duty to update or revise forward-looking statements. This presentation has been prepared by us, the company, based on our own information as well as information from public sources. Certain of the information contained in the presentation may be derived from information provided by other industry sources. The company believe that such information is accurate and the sources from which we have obtained it are reliable. However, we have not independently verified such information and cannot guarantee the accuracy of such information. Thank you for your patience. And with this, we swiftly move on to the next point in the agenda, the presentation of the financial results. Fredrik. Thank you, Urban. You can find our earnings release and thank you on our website, neo.com, under our IR section. I will, in this presentation, just summarize the key points. Revenues for the third quarter was 1.2 million. That is an increase of 26% compared to the same quarter last year. We saw a recovery in license revenues for the third quarter, mainly due to that our license customers within the printer and automotive market has had more volumes. We also saw in products a slight recovery to 155,000 US dollars, an increase of 14% compared to the same quarter last year. We are still affected by the COVID-19 pandemic lockdowns and also the long cycle for our customer to launch and develop products. Our gross profit in gross margin for Q3 2022 was 48%. That is an increase of 20 percentage point compared to the same quarter last year. It is on decrease compared to the previous quarters and it is due to the product mix. For the f...