STOCKHOLM, May 8, 2024 /PRNewswire/ -- Neonode Inc. (NASDAQ:NEON) ("Neonode" or the "Company") today reported financial results for the three months ended March 31, 2024. FINANCIAL SUMMARY FOR THE QUARTER ENDED MARCH 31, 2024:       Revenue of $1.0 million, a decrease of 19.1% compared to the same period in the prior year. Operating expenses of $2.9 million, an increase of 3.3% compared to the same period in the prior year. Net loss of $2.1 million, or $0.14 per share, compared to $1.4 million, or $0.09 per share, for the same period in the prior year. Cash used by operations of $1.9 million compared to $1.7 million for the same period in the prior year. Cash and accounts receivable of $15.3 million as of March 31, 2024 compared to $17.1 million as of December 31, 2023. THE PRESIDENT & CEO'S COMMENTS "Our revenues decreased in the first quarter of 2024 compared to the same quarter last year. Following the announcement of our change in strategy, with full focus on our licensing business and a phase-out of our products business, product sales have increased as a result of last time buy orders. Non-recurring engineering revenues also increased in the first quarter compared to the same quarter last year, mainly due to a new potential Touch Sensor Module license project. At the same time, licensing revenues decreased ...