Issue 002 | U.S. Pilot | US

NEON

Neonode Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-13 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 35.5%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 24,430,000USD
Total Liabilities: 2,064,000USD
NCAV: 22,366,000USD
Cash: 23,233,000USD
NCAV per share: 1.33USD/share
Evidence: 10 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2026-03-31 10-Q Open filing	2025-12-31 10-K Open filing	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-Q Open filing	2024-12-31 10-K Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-Q Open filing	2023-12-31 10-K Open filing	2023-09-30 10-Q Open filing	2023-06-30 10-Q Open filing	2023-03-31 10-Q Open filing	2022-12-31 10-K Open filing	2022-09-30 10-Q Open filing	2022-06-30 10-Q Open filing	2022-03-31 10-Q Open filing	2021-12-31 10-K Open filing	2021-09-30 10-Q Open filing	2021-06-30 10-Q Open filing	2020-12-31 10-K Open filing	2019-12-31 10-K Open filing	2018-12-31 10-K Open filing	2017-12-31 10-K Open filing	2016-12-31 10-K Open filing
Period-end Shares Outstanding	16,782,92216,782,922	16,782,92216,782,922	16,782,92216,782,922	16,782,92216,782,922	16,782,92216,782,922	16,782,92216,782,922	n/an/a	15,35915,359	15,35915,359	n/an/a	n/an/a	15,359,48115,359,481	n/an/a	14,455,76514,455,765	13,569,70013,569,700	13,579,95213,579,952	n/an/a	13,575,95213,575,952	11,611,04811,611,048	n/an/a	11,504,66511,504,665	9,171,1549,171,154	880,0318,800,313	585,94558,594,503	488,44548,844,503
Weighted-average Basic Shares	16,783,00016,783,000	16,783,00016,783,000	16,783,00016,783,000	16,783,00016,783,000	16,78316,783	15,87315,873	15,98015,980	15,35915,359	15,35915,359	15,32215,322	15,35915,359	15,35915,359	15,20915,209	13,63213,632	13,58013,580	13,57813,578	13,57613,576	11,90711,907	11,54211,542	11,50411,504	9,989,0009,989,000	8,8448,844	5885,884	41241,202	39539,532
Weighted-average Diluted Shares	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	15,28515,285	15,20915,209	13,63213,632	13,57713,577	13,57713,577	13,57613,576	11,90711,907	11,51711,517	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Basic EPS	-0-0	11	11	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	-1-1	00	00	00	-0-0	00	00	00	-1-1	00	00	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Diluted EPS	n/an/a	n/an/a	n/an/a	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	-1-1	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	-0-0	-1-1	-0-0	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a
Basic-to-Diluted Share Difference	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	-0.5%	-1.0%	-11.0%	-11.6%	-11.6%	-10.7%	-12.7%	-15.2%	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence
Net Share Count Change	0.0%	0.0%	0.0%	0.0%	0.0%	Insufficient evidence	4.0%	0.0%	Insufficient evidence	-0.2%	0.0%	Insufficient evidence	11.6%	6.5%	-0.1%	Insufficient evidence	14.0%	16.9%	Insufficient evidence	-99.9%	25.4%	942.1%	50.2%	20.0%	Insufficient evidence
Ownership Claim Change	0.0%	0.0%	0.0%	0.0%	0.0%	Insufficient evidence	-3.9%	0.0%	Insufficient evidence	0.2%	0.0%	Insufficient evidence	-10.4%	-6.1%	0.1%	Insufficient evidence	-12.3%	-14.5%	Insufficient evidence	86730.7%	-20.3%	-90.4%	-33.4%	-16.6%	Insufficient evidence

Verified split events: reverse 10.0 on 2018-12-31; reverse 10.0 on 2019-12-31

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-12-31 10-K USD	2024-12-31 10-K USD	2023-12-31 10-K USD	2022-12-31 10-K USD	2021-12-31 10-K USD	2020-12-31 10-K USD	2019-12-31 10-K USD	2018-12-31 10-K USD	2017-12-31 10-K USD	2016-12-31 10-K USD
Revenue	2,062,000	3,108,000	4,449,000	5,670,000	5,836,000	5,984,000	5,966,000	7,954,000	10,241,000	10,213,000
Operating Income	7,371,000	-6,547,000	-10,744,000	-5,286,000	-7,107,000	-6,191,000	-5,730,000	-3,877,000	-5,476,000	-5,144,000
Net Income	8,493,000	-6,466,000	-10,123,000	-4,883,000	-7,268,000	-5,605,000	-5,298,000	-3,060,000	-4,705,000	-5,291,000
Cash From Operations	-10,254,000	-5,592,000	-6,308,000	-6,808,000	-7,678,000	-5,752,000	-3,517,000	-2,859,000	-5,581,000	-6,252,000
Capex	-91,000	-37,000	-123,000	-52,000	n/a	-60,000	-89,000	-236,000	-656,000	-987,000
Free Cash Flow	-10,345,000	-5,629,000	-6,431,000	-6,860,000	n/a	-5,812,000	-3,606,000	-3,095,000	-6,237,000	-7,239,000
Cash And Equivalents	25,358,000	16,427,000	16,155,000	14,816,000	17,383,000	10,473,000	2,357,000	6,555,000	5,796,000	3,476,000
Accounts Receivable	391,000	732,000	917,000	1,448,000	1,293,000	1,743,000	1,324,000	1,830,000	1,010,000	1,548,000
Inventory	n/a	n/a	610,000	3,827,000	2,520,000	1,273,000	1,030,000	1,219,000	1,154,000	696,000
Total Current Assets	26,285,000	17,685,000	18,620,000	20,798,000	22,032,000	14,650,000	5,434,000	10,494,000	9,797,000	7,669,000
Total Assets	26,885,000	18,381,000	19,014,000	21,198,000	22,992,000	16,572,000	7,436,000	13,242,000	13,127,000	9,703,000
Total Current Liabilities	2,181,000	1,620,000	1,832,000	1,699,000	2,973,000	4,210,000	3,023,000	2,313,000	3,583,000	4,608,000
Total Liabilities	2,196,000	1,939,000	1,851,000	1,780,000	3,155,000	4,682,000	3,589,000	3,446,000	5,264,000	5,568,000
Shareholders Equity	24,689,000	16,442,000	17,163,000	19,418,000	23,878,000	15,113,000	6,393,000	11,838,000	9,023,000	4,505,000
Shares Outstanding	16,782,922	16,782,922	15,359,481	14,455,765	13,575,952	11,504,665	9,171,154	8,800,313	58,594,503	48,844,503
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	n/a	15,873	15,322	13,632	11,907	9,989,000	8,844	5,884	52,889	45,690
Weighted Avg Shares Basic	16,783,000	15,873	15,322	13,632	11,907	9,989,000	8,844	5,884	52,889	45,690
Net Share Count Change (Normalized)	0.0%	Insufficient evidence	-0.2%	6.5%	16.9%	25.4%	942.1%	50.2%	20.0%	Insufficient evidence
Ownership Claim Change (Normalized)	0.0%	Insufficient evidence	0.2%	-6.1%	-14.5%	-20.3%	-90.4%	-33.4%	-16.6%	Insufficient evidence

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric	2026-03-31 10-Q USD	2025-12-31 10-K USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-Q USD	2024-12-31 10-K USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD	2024-03-31 10-Q USD	2023-12-31 10-K USD	2023-09-30 10-Q USD	2023-06-30 10-Q USD	2023-03-31 10-Q USD	2022-12-31 10-K USD	2022-09-30 10-Q USD	2022-06-30 10-Q USD	2022-03-31 10-Q USD	2021-12-31 10-K USD	2021-09-30 10-Q USD	2021-06-30 10-Q USD
Revenue	614,000	520,000	430,000	599,000	513,000	655,000	838,000	1,424,000	1,014,000	993,000	1,003,000	1,200,000	1,253,000	1,869,000	1,216,000	1,267,000	1,318,000	1,489,000	962,000	1,720,000
Operating Income	-2,071,000	-2,364,000	13,810,000	-2,110,000	-1,965,000	-1,261,000	-1,225,000	-1,807,000	-2,254,000	-6,088,000	-1,457,000	-1,627,000	-1,572,000	-1,247,000	-962,000	-1,686,000	-1,391,000	-1,860,000	-1,822,000	-1,796,000
Net Income	-1,863,000	-2,090,000	14,184,000	-1,868,000	-1,733,000	-1,600,000	-1,087,000	-1,695,000	-2,084,000	-5,925,000	-1,266,000	-1,507,000	-1,425,000	-1,098,000	-800,000	-1,548,000	-1,437,000	-2,322,000	-1,721,000	-1,657,000
Cash From Operations	-2,106,000	-5,617,000	-1,527,000	-1,750,000	-1,360,000	-1,163,000	-1,294,000	-1,220,000	-1,915,000	-2,208,000	-1,785,000	-617,000	-1,698,000	-1,114,000	-480,000	-2,935,000	-2,279,000	-2,704,000	-1,569,000	-1,415,000
Capex	-13,000	-1,000	-75,000	25,000	-40,000	n/a	0	n/a	n/a	n/a	-22,000	n/a	n/a	n/a	-7,000	n/a	n/a	n/a	0	-5,000
Free Cash Flow	-2,119,000	-5,618,000	-1,602,000	-1,725,000	-1,400,000	n/a	-1,294,000	n/a	n/a	n/a	-1,807,000	n/a	n/a	n/a	-487,000	n/a	n/a	n/a	-1,569,000	-1,420,000
Cash And Equivalents	23,233,000	25,358,000	11,585,000	13,238,000	14,991,000	16,427,000	17,599,000	13,107,000	14,274,000	16,155,000	18,471,000	20,291,000	20,981,000	14,816,000	11,302,000	12,426,000	15,126,000	n/a	5,496,000	6,611,000
Total Current Assets	24,430,000	26,285,000	32,193,000	14,405,000	16,261,000	17,685,000	19,563,000	15,094,000	16,593,000	18,620,000	24,463,000	25,923,000	27,421,000	20,798,000	17,329,000	18,457,000	20,535,000	22,032,000	9,247,000	10,571,000
Total Liabilities	2,064,000	2,196,000	6,016,000	2,406,000	2,397,000	1,939,000	1,640,000	1,873,000	1,874,000	1,851,000	1,837,000	2,014,000	1,896,000	1,780,000	1,902,000	2,253,000	2,835,000	3,155,000	3,162,000	3,540,000
Shares Outstanding	16,782,922	16,782,922	16,782,922	16,782,922	16,782,922	16,782,922	16,782,922	15,359,481	15,359,481	15,359,481	15,359,481	15,359,481	15,359	14,455,765	13,569,700	13,579,952	13,575,952	13,575,952	11,611,048	11,504,665
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	16,783,000	33,184,734	n/a	16,783,000	16,783	16,783	15,980	15,359	15,359	15,359	15,359	15,359	15,209	13,792	13,580	13,578	13,576	13,065	11,542	11,504
Weighted Avg Shares Basic	16,783,000	33,184,734	16,783,000	16,783,000	16,783	16,783	15,980	15,359	15,359	15,359	15,359	15,359	15,209	13,792	13,580	13,578	13,576	13,065	11,542	11,504
Net Share Count Change (Normalized)	0.0%	0.0%	0.0%	0.0%	0.0%	Insufficient evidence	4.0%	0.0%	Insufficient evidence	-0.2%	0.0%	Insufficient evidence	11.6%	6.5%	-0.1%	Insufficient evidence	14.0%	16.9%	Insufficient evidence	-99.9%
Ownership Claim Change (Normalized)	0.0%	0.0%	0.0%	0.0%	0.0%	Insufficient evidence	-3.9%	0.0%	Insufficient evidence	0.2%	0.0%	Insufficient evidence	-10.4%	-6.1%	0.1%	Insufficient evidence	-12.3%	-14.5%	Insufficient evidence	86730.7%

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	24,430,000USD	us-gaap:AssetsCurrent	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json
Total Liabilities	2,064,000USD	us-gaap:Liabilities	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json
Cash	23,233,000USD	us-gaap:CashAndCashEquivalentsAtCarryingValue	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json
Shares Outstanding	16,782,922	us-gaap:CommonStockSharesOutstanding	2026-03-31	1.00	Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json Data Vault \| sec/companyfacts/cik=0000087050/companyfacts.json
NCAV	22,366,000USD	derived	2026-03-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	1.33USD	derived	2026-03-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	35.5%	derived	2026-03-31	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: Local evidence | The Data Vault
CIK: 0000087050
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0000087050/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0000087050/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 26
Imported At: 2026-08-02T05:41:29+00:00
Rendered At: 2026-08-16T03:29:43+00:00

Run Audit

Mary Run: f75c5d221f074da8a489fba328e8ef51
Mary As Of: 2026-07-18
Accession: 0001437749-26-016562
CIK: 0000087050
Mary Filing Date: 2026-05-13
Filing Currency: USD
Internal Discount: 35.5%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=f75c5d221f074da8a489fba328e8ef51; mary_as_of=2026-07-18; mary_filing_date=2026-05-13; mary_accession=0001437749-26-016562; mary_cik=0000087050; gnni_supporting_filing_date=2026-05-13; internal_discount=0.354676; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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