Neonode Q3 revenue drops on subdued printer demand
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Neonode's Q3 revenue fell 48.7% year-over-year due to decreased demand in its legacy printer and automotive segments. However, income from continuing operations rose to $13.9 million, boosted by a $15.5 million gain from a patent assignment. The company expects continued revenue decline in legacy segments until new customer production begins and is focusing on expanding its MultiSensing AI platform in the automotive sector. The average analyst rating is 'hold', with a 12-month price target of $6.00, representing a 53.2% increase from its recent closing price of $2.81.
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