Neonode, Inc. (NASDAQ:NEON) Q2 2020 Earnings Conference Call - Preliminary Transcript

Aug 14, 2020 • 10:00 am ET


Neonode, Inc. (NASDAQ:NEON) Q2 2020 Earnings Conference Call - Preliminary Transcript


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Hello everyone, thank you for standing by and welcome to Neonode's Second Quarter 2020 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session with the company's covering analysts. (Operator Instrutions) (Operator Instrcutions) Thank you. At this time for opening remarks and introductions, I would like to turn the call over to David Brunton Neonode's Head of Corporate Investor Relations. David. Please go ahead.

David W Brunton

Welcome and thank you for joining us. on today's call we will review our second quarter 2020 financial results and provide a corporate update our update will include details of customer activities technology developments and other items of interest. Before turning the call over to our CEO, Dr Urban Forssell and CFO. Maria Ek, I would like to make the following remarks concerning forward-looking statements.

All statements in this conference call other than historical facts are forward-looking statements. The words anticipate, believe, estimate, expect tend will guides confidence targets projects and other similar expressions typically are used to identify forward-looking statements. These forward-looking statements do not guarantee the future performance. That may be made involve or be subject to risks, uncertainties and other factors that may affect Neonode's business, financial position and other operating results, which include but are not limited to the risk factors and other qualifications contained in Neonode's Annual Report on 10-K Quarterly Reports on 10-Q and other reports filed by Neonode with the SEC to which your attention is directed.

Therefore, actual outcomes and results may differ materially from what is expected or implied by these forward-looking statements. Neonode expressly disclaims any intent or obligation to update these forward-looking statements. At this time, it's my pleasure to turn the call over to Urban. Urban Please go ahead.

Urban Forssell

Thank you, Dave. Hello, this is Urban Forssell the CEO of Neonode since the beginning of the year. Thank you for joining the call. I will take you through the business and strategy update today and I would like to start with this slide here showing a summary of Neonode's legacy and as many of you know Neonode started as a smartphone company back in 2001 and launched what is the world's first yesterday's mobile phone in 2004 this phone made several made the headlines in several newspapers have got a lot of attention and featured Neonode's IR based touch already back in 2004.

So the origins of our touch technology can be traced back to these early smartphone years. later on Neonode shifted focus and into more business with the e-reader manufacturers printer manufacturers and automotive Tier 1 suppliers and the business model changed from offering business consumer products to technology licensing mainly.

Today, in 2020. We are working to establish a new strategy and a new direction for the company and we are aiming at substantially growing the business and making Neonode a much more profitable company. We have presented the outlines of this strategy in other