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Blockchain Press Releases

Neonode Reports Quarter Ended June 30, 2023 Financial Results

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STOCKHOLM, Aug. 10, 2023 /PRNewswire/ — Neonode Inc. (NASDAQ: NEON) today reported financial results for the three and six months ended June 30, 2023.

FINANCIAL SUMMARY FOR THE THREE MONTHS ENDED JUNE 30, 2023:

  • Revenue of $1.2 million, a decrease of 5.3% compared to the same period in the prior year.
  • Operating expenses of $2.8 million, a decrease of 1.9% compared to the same period in the prior year.
  • Net loss of $1.5 million, or $0.10 per share, compared to $1.5 million, or $0.11 per share, for the same period in the prior year.
  • Cash used by operations of $0.6 million compared to $2.9 million for the same period in the prior year.
  • Cash and accounts receivable of $21.6 million as of June 30, 2023 compared to $16.3 million as of December 31, 2022.

FINANCIAL SUMMARY FOR THE SIX MONTHS ENDED JUNE 30, 2023:

  • Revenue of $2.5 million, a decrease of 5.1% compared to the same period in the prior year.
  • Operating expenses of $5.6 million, an increase of 1.4% compared to the same period in the prior year.
  • Net loss of $2.9 million, or $0.19 per share, compared to $2.9 million, or $0.22 per share, for the same period in the prior year.
  • Cash used by operations of $2.3 million compared to $5.2 million for the same period in the prior year.

THE CEO’S COMMENTS

“Our licensing revenues in Q2 were at the same level as in Q1 and 15% higher than in the same period last year, showing good stability. Our product sales revenues in Q2 were low and much below expectations, which we are addressing with different kinds of activities and changes in our strategies and tactics to ensure that we come back to a growth path for this business in the coming quarters”, said Dr. Urban Forssell, Neonode’s CEO.

“The changes we have started to implement include an increased focus on markets and sectors where we have good traction, supported by intensified marketing – both online and through participation in tradeshows and other types of events – to create beachheads from which we may continue to grow our licensing and products businesses. To help us drive these changes and become more effective in our marketing and sales efforts we have recruited experienced core competence to strengthen our sales and engineering teams in Stockholm. We remain optimistic about our ability to grow our business and return to profitability,” concluded Dr. Forssell.

FINANCIAL OVERVIEW FOR THE QUARTER ENDED JUNE 30, 2023

Net revenues for the quarter ended June 30, 2023 were $1.2 million, a 5.3% decrease compared to the same period in 2022. For the 2023 period, license revenues were $1.1 million, an increase of 14.8% compared to the 2022 period. The increase is primarily volume related as the global supply chain challenges related to semiconductor supply
shortages that hampered our printer and automotive customers’ production and sales for the last two years have improved and the demand for our customers’ products remains strong.

Revenues from product sales for the quarter ended June 30, 2023 were $0.1 million, a 60.0% decrease compared to the same period in 2022. The reason for the decrease is mainly low customer demand, which we are addressing with focused marketing and sales campaigns and updates to our partner network.

Gross margin related to products was 66.7% for the second quarter of 2023 compared to 55.7% in the same period in 2022. The gross margin for products is higher for lower order volumes and also varies with the product mix.
Our operating expenses decreased by 1.9% for the second quarter of 2023 compared to the same period in 2022, primarily due to lower payroll and related costs.

Net loss attributable to Neonode for the three months ended June 30, 2023 was $1.5 million, or $0.10 per share, compared to a net loss of $1.5 million, or $0.11 per share, for the same period in 2022. Cash used by operations was $0.6 million in the second quarter of 2023 compared to $2.9 million for the same period in 2022. The decrease is primarily the result of less component purchases.

Cash and accounts receivable totaled $21.6 million and working capital was $24.0 million as of June 30, 2023 compared to $16.3 million and $19.1 million as of December 31, 2022, respectively.

For more information, please contact:

Chief Financial Officer
Fredrik Nihlén
E-mail: [email protected]
Phone: +46 703 97 21 09

Chief Executive Officer
Urban Forssell
E-mail: [email protected]
Phone: +46 734 10 03 59

The following files are available for download:

 

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Blockchain Press Releases

Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

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Blockchain Press Releases

Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet

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VICTORIA, Seychelles, March 1, 2024 /PRNewswire/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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Blockchain Press Releases

Cashback and Crypto: Bybit’s Monthly Bonanza

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DUBAI, UAE, March 1, 2024 /PRNewswire/ —Bybit, one of the world’s top three crypto exchanges by volume, now unveils March’s Fiat Cashback Splash for both fresh and seasoned users who make fiat deposits.

This effort celebrates both new and familiar faces within the Bybit fold. The “Fiat Cashback Splash” is part of Bybit’s pledge to be the world’s Crypto Ark, leading the way to the new financial system, and offering straightforward chances for anyone to get involved. Indeed, any crypto users, including newcomers, will be able to walk the crypto path with Bybit as a reliable ally.

“We aim to always offer more to our users, and the Fiat Cashback Splash is our latest move to improve their journey,” said Ben Zhou, Bybit’s co-founder and CEO. “The Fiat Cashback Splash is our way of saying thank you to our community, both old and new, for their trust and support.”

This event spans the first week of every month and any one of Bybit’s 20 million users who bring fiat to the table will see rewards. Newcomers putting down $100 through fiat or a single click buy will get up to $10 back on fees. Those already with Bybit, depositing $500 or more, will see $5 returned.

For the heavy hitters depositing over $5,000, Bybit adds a $30 Buy Crypto Coupon into the mix, widening the horizon for investment.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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