NEON - Earnings call transcript Q4 2017

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Operator

Hello, everyone. Thank you for standing-by. And welcome to Neonode's Fourth Quarter and Full Year 2017 Earnings Conference Call. [Operator Instructions] I would now like to direct your attention to the company's PowerPoint slide-deck that you are capable of viewing now that you have logged on to this call. The company will control the navigation through the slide-deck to coincide with their prepared remarks. you. Thank for the introductions, Brunton, call of Investor time to would Neonode's remarks Corporate turn the over Relations. opening this I and like Head At to David start call. and ahead go please David, the

David Brunton

all for joining call fourth as to a and be not financial our fiscal week, corporate Welcome and Lars and been has thank us. today's taken our will of quarter and call, results portion financial be today in able Lindqvist, will with he covering unexpected On - XXXX update. absence. his us review we provide ill I is you CFO the the

my Executive please of update this Interim expressly obligation these to your are Neonode's These not the call, implied position filed turning reports by the may other and other any Annual expressions are factors forward-looking or Neonode forward-looking than is to The operating typically would are used remarks Reports I these time, and pleasure from financial may go what intent not Officer statements. the uncertainties affect in targets, Therefore, Chief call historical XX-Q, be performance limited turn SEC that which include, to by words differ Before Bunge, CEO, directed. statements. that over results, and identify following and other expect, expected forward-looking other results Neonode estimate, Andreas, which to anticipate, the future confidence, other over conference call may do Neonode's is to forward-looking statements. involve concerning guides, qualifications Report to forward-looking to Quarterly risks, contained Bunge statements tend, the other our attention risk business, to projects, All Andreas and actual and factors statements At subject will, materially or Neonode. make Andreas facts, the like statements. but ahead. on disclaims it on outcomes similar is guarantee believe, statements. to XX-K, or with this forward-looking in

Andreas Bunge

will going you, Thank you David. opportunities on see and highlights today, with our update fourth Neonode the where quarter present also forward. Today we from provide a I and strategic the

glance XX% the to business. licensing almost a fourth quarter, quarter, strong increased the the our in So million due sales in at to quick year-on-year by $X.X primarily performance continued

For a net later. the loss to did fourth of inventory a includes cash million, discuss I $X.X quarter, record the million, $X.X non amounting will which we loss adjustment

launched Air the through During shipments the zForce luggage quarter We zForce worldwide available producer milestones. shipped Chigoo, Digi-Key. modules the were and of we smart sensor worldwide Chinese reached for important some and modules made carriers,

will of January as minimum QX, base April. from the now Eriksson announced and Thomas the a stock stockholders Board Neonode to appointed have our Persson we CEO meeting a intention as During annual in as also resigned X, Xst have CEO early we you June. new of Håkan seen as ask On bid of that regain we our the with price requirement. can confirm approve to part And compliance

to cost to projects my specific CEO, sales. Interim to to the has structure drive During focus time as on customer full put been main my efforts and the organization help review

in know, August the Directors in As an I as you of in investor came October. and Board joined

I built a applications. stronger and automotive, for This unique which Neonode a the increased customers. consumer, interfaces. user electronics a large number technology has high number based for more relationship is general, Neonode industries has our profile industrial relationship. a of capacity Neonode means resources focus the review was and company can invest the of Our But and steady and on our with demand profit see to also strength decision on true believe the need to key was for confirmed into of for that example, flow. licensing generates there The actions operation the couple in business In we still in and saw to be an apply. to a in customer priorities. summarized cash growth to the of is technology, scope which observations two that intuitive It also realize build the operation that the

cash secure has Our first been priority to balance a flow.

products We we are deal. where to focusing customers on a and are close existing

to We cost the adjust action have taken base.

that resources. taken on speculative non-core the up less So Today projects, for AirBar context, increased we investments we In to minimize business. can focus have more decision or assigned in seen we driven customer development project. have and free this

conservative As of a million quarter But which part. taken inventory working communicated, main to we the AirBar continue to partnership adjustment forward. previously an leading we capital as have X.X strategic for our the evaluate represents in a consequence AirBar approach reviewing in going of

the licensing also and leveling sales savings, addition risk flow generated a are cash general means a cash low In This our control. cost we revenue, also can these secure balance through by cash the introducing to in management operation. and the flow a that and we see type

the growth priority into hires step will modules for believe are and experience this Neonode. CEO see in recruited selected CEO, solid sales close We sales. company. on execute we these, on deals. technology strategic a is April. a new Persson opportunity of markets. from product to Håkan Air focusing we collaboration next leading that up positions with closing key do customers in has our in The be Our to Development We the Xst is customer starting focused started real key To new

first a important an Our flow. secure licensing to priority revenues our cash balanced play in role

printers continue the eReaders, see revenues from segment, see stable As you automotive we and fee segment. the to can

XX% driven $X.X grew by in fourth a the performance million printer by quarter Our strong within licensing to the fee segment.

launched this our we only We also QX. to we interaction was which in big launch, increased which continue sensing. But interaction, we nurture. an touch include solid meet to where a opportunity foundation is continue not the and but our the Neonode zForce area our object the see Air business offerings module for profitable will did We see to future as have

already an cater collaboration product to product thereby customer the up closing a our with just new do into on the customers application Based are process customer development more deals lot. a markets. As on needs and of in can is way that than relevant We areas adjustment focusing also This We key mentioned speculative key relationship Development believe the now areas. development strategic built in to I close we offers our in business. will open close our offer selected previously, on shift pipeline. strategy. and we in-house new efficient is operating

driven our customer free up So engineering in resources projects, the we to level reduce development. can and resources R&D the also redirecting risk

into system, steering continue and a our global the zForce generate in relations where we a a to over traction presence we with Through industries licensing is systems, control Air we an Our where and project presence. able we'll is we Air licensing with have have customers business, to This area commercialization that number the address X infotainment wheel This long large ongoing zForce have already seven good of term started which Autoliv, we is volume broad for and of and phase. One is both our increase application OEM. In number will and Within be now in customer the this have modules. address industry project. automotive that's Tier entered time. strong technology relevant ongoing can to already segment. opportunity

the door leave potential and interest to word Regarding customers. I international see and entry for currently discussion with systems, we With tailgate updates. that, several solutions strong are in David

David Brunton

you, Thank Andreas.

on download for fourth sections results. find a fourth discussion footnotes section quarter Please Relations on our XX-Qs remarks MD&A other of for will the can year-to-year majority You in XXXX my the start and quarter. the available of XX-K and website neonode.com. from of focus full prepared at Quarterly will our XX-K other revenues the and and I the operating summary with activities. our see results I a our Investor

Our customers, quarter drivers increase plus revenues. The $X.X million in same million in NRE an increase license the an to in fees $X.X in from fourth increased revenue printer from XXXX. quarter main are XX%

During the to both largest. We licensing to wheel continue NRE module XXX,XXX Autoliv from projects of is with our sensor completed earned three project NRE as milestones projects revenues approximately and fourth do in the expect we customer the for quarter generate we which final steering future.

compared in Our QX total fees in in to in license next million the detail more XXXX. $X.X fees same period $X.X the license slide. million to increased will discuss on I

Andrea met sales have As expectations. discussed, previously has AirBar not

slow we investments the future development, significantly marketing sellthrough, have consequence a efforts. sales reduced to and in As AirBar

our the realizable expected reserve inventory We net fourth of in non-cash $X.X value also a component and million recorded evaluated of inventory in AirBar our quarter. the

per share share QX to the inventory for loss adjustment $X.X or was million $X.XX non-cash $X.XX including loss Our the net or $XXX,XXX quarter in XXXX. per compared

important inventory adjustment it's at note or non-cash to on a discussed QX have our this that loss would share. the $X.XX above, pro I $XXX,XXX been basis approximately per point excluding think forma

a and going will nurture forward. licensing stable to Our continue solid XXXX and business which profitable is remains during which

compared from in compared license to by five to increased period the from QX and increase same steady total XXXX. fees revenue from fourth Our license XX% fourth due shipments in plus earned HP, total the XXXX. fees Epson. Canon in increased XX% an increase primarily for and OEMs to printer is The XXXX quarter Printer the fees quarter both

This XXXX. customers in is volumes fee in actually decreased decrease plus due cars in our shipments fees of sales other decreased volume to Volvo license certain were decreases compared by These reductions to primarily per quarter Chinese partially car OEMs. models reaching the of increase the from automobile new market. and offset Our milestone certain unit license XX% fourth in

combined QX grow XXXX with balance shipped quarter. now by end XX the compared products since of been and position. units into talking more about X than during each zForce I'm to quarter going XXXX million Neonode to sheet and year. continues integrated the to customers license in Our million million has fourth cash last technology X.X

cash, expense million of receivable, the in to and and quarter our accounts discussed, taken we've we've $X.X said, key million and either per secure as of million range support in are actions and million operating of projects on management development balanced customer Andrea implemented controls, action the continue And flow. million to ended $X cost to we've cash capital. and activities $X.X total our with driven currently working year he As and cash focused $X.X $X take we

Our current are accounts plan. and liabilities accrued payable well deferred within including expenses revenue

to Now call like to I the would Andreas. turn back

Andreas Bunge

line have customer new relationship the with unique strong and we conclude To a of enterprise launched. technology

we cash actions licensing secure sustainable sales operation believe growth Håkan solid us have Neonode sufficient of execution expertise We that we believe and modules. questions. I to And driving opportunity growth. we CEO profitable about with have from and can optimistic sensor joining company flow to growing cash secure taken with flow that achieving bringing towards business. Persson both revenue We remain And build for our new and a technology a strategy from up sales of balance in that, open as

Operator

[Operator Instructions] Craig-Hallum with question from Your line first the of Mike comes Malouf Capital.

Mike Malouf

side like you're sounds Can haven't into lot you bit the getting some but a volume a drive the in discounts, seen it area. from we down that little of big licenses, volume auto pretty

a I’m So confused just bit little about that.

bit that talk programs see so? little you while or rolling the some for how year can about that So words of the these out had you over a and next in we

David Brunton

There actually sort other mixed the volume bag certain a cars in license and side. some have in been of

think have from of didn't seen seem is the have cycle shorter some in the what's we've with the market combined off the that We that that of that there what's that life U.S. - those in big discounts last some a gone happening. is Chinese specially than And been cars markets, cars number are year's. it’s but I but they down. the not cars It’s to moving leaving depressed that the market and production of a some line have are

the future, and force we So actually sales in the said revenue in is from like term we we’re the where are going near the increasing growing And our the Tier see others the we meeting customers are the some number to going Suzuki of existing - actually putting models. Volvo our with our short-term. on be as of X OEMs customers out do can focus cars and in and Andreas the and

to cars. there's so some And capture more

Mike Malouf

long this also with in handles was the let’s the Can where where time the I'm because for and And discussions discussions and I door could we we of end a it many that on for could like get but probably do doesn't years well that. going then, - for on to then steering get sense trying close kind how wheels a that's quite know happening? sense more it just say we've you we had to designed but year. and this some The even if just would are if I just getting in technically, we guess of in are tailgates designed hopped take as address is us to of revenue give of come sound and that year, go

Andreas Bunge

take that or two can questions. I question the

hasn’t we we focus but more that’s about sensor you one a to see good general, where in I there, and seen industry. tailgate I try that’s talk interesting one delayed think got project it were happened from I that too the so the much know there really that when the of response really of entry could before in on interest. First sensors we've a been came and big I project that had area

discussions with but picked been we companies and that picking have mode really activities bit So for we up Neonode, have it a good. several waiting are up looks those in

question course so working to validation something we when something or we to the we decided only anymore you And that forward but we're back in discussing the and I Autoliv the with all thing of important in future. phase concept second say on is the phase users are we give in think have about around on can't steering very have of for can have about be But really OEM careful the that that's of last phase now is and out we timing QX. we there. commercialization ended there now giving had communicate you statements wheel and our are the started very We because what that we that discussions and conservative year it's end to in to looking OEMs say about wheel, And already be before can projections the that. Neonode the in we are come have steering and the have with we

Mike Malouf

when that just And XX% little just question, if I if give investment. last into just I'm you you a the ask your down your attracted stocks going you came to personal clarity company you put myself investors Neonode opinion? go little years, investment. bit you and to thesis the where in over And valid over a and this of in from could wondering with company make next of still into could what of few saw that the what money bit is think year you kind investment and is

Andreas Bunge

I to The are really really a and delivering the things. stock have - good make a the this with and said they and works that say both in customers in we some positive profitable I have with bright they they customers there for market strong lot relationship would a relationship my company. work fine. presentation has it And technology. to been We Neonode problem are future. saw to good that really is with of the saw is big There

speculative a that quite sales. for And what are technology are but also not long on was company for projects it's time quite needed AirBar the that in We to - like and have been developed not fine, was too we market. we many that company still really focused others. has saw and from and to it all we focus and the going that's this promising the a benefit to have in And interest company looking it saw we - and we that also was existing

Operator

question next of Westman Your Viktor from the line Instructions] comes Redeye. [Operator with

Viktor Westman

non-core about of you from driven resources if customer us something tell projects. reallocation I'm to more the wondering can

have of project that examples canceled? been you give If can some

Andreas Bunge

project we one AirBar course of in. have the minimized that investments is Yes,

projects in it’s customer have mentioned We have interest think development we the and see of customers areas develop in not interest. we to of lot are other the this right - we projects speculation that pure because some where a that we situation from

partnership customer we into so, and systems entry together those and projects work better the rather in make orientation. and put projects of than project development tailgate customers our a to example and For more with those own think resources

Viktor Westman

mean will lot you where of that or does will more of customers say segments on about automotive you what you to? or want the focus be how can instance And have for terms in area you that something focus

David Brunton

lot Automotive a we have we sure where already focusing - going may touchscreen is because for see I on you side that course touchscreen be have we are think other of customers the steering one of in area and tailgate for are screens the strong we interest of wheel. from lot There but areas side both as automotive on mentioned more larger opportunity. of where the

but we in the sure for one mentioned So presentation. that is why - that's automotive area it's and separately

Viktor Westman

also competition are in What the follow-up steering now are thoughts one are zForce level on three that there the steering are autonomous that cars clearly wheels there semi given wheel? some the are that market your there today. not cars some And using the on because

David Brunton

of solving you're market There more stand this think technologies I that not. we are the could the alternative wheel But there of that tail are - add the out than ways from different holding and there in course cars Neonode. is wheel that much tail in and or

see this feedback a you can't presented interest So interest yes, got the good from we lot time positive any it when year long-term as got But Las good projections and sales it its Vegas, a for market. get it’s and next the got you of and the on generation example we takes really give it show look if a and Autoliv But I there. business. more we I in at but

Viktor Westman

wondered AirBar? just how instance much in I the module is sale you split if how much automotive something is sensor about for and me is from question say like Last could

Andreas Bunge

automotive sold the sales modules haven't In the really for we module the so to far. sensor

we the is selling in before that what AirBar then some So QX that outside have launched the were we sensor just the market. sales AirBar just business. other are parties module there prototypes was we But out made on it

during So have sales will said we we pick to can up these that see when sales. as come year I we we the believe the that back once

Operator

Your MAZ Walter line comes with of the Partners. next from Schenker question

Walter Schenker

work? better didn't basically you you why that's had you you us pretty distribution, good work technology give just were did Walmart one a have people could AirBar did not just why Yeah if understanding

David Brunton

definitely companies from think technology The we purchased right they're but it the marketing. think to actually those work have out probably company place - not I those the - does companies, I weren’t for in the of have bottom at distribution don't sell AirBar. we

may but either does is will we realize couldn’t said AirBar our life market going of in We’re that's point taking a and I globally. or products Andreas BXB do and our other business who core the sell. it. and their someone with trying a and this then company have investing they at those entity dollars it trying X really take other a sort the find sort out AirBar us is by hit to work expertise we why to and - not head and OEM best out do our when or is work. It minimizing tier partner over And products business. they something certainly and the there BXB investment we’re product with and think product certainly consumer which is we a into rollout market with to that supplier certainly certainly that up And and And it the of integrate

Walter Schenker

the largely you but of standpoint sales that being really And therefore AirBar not has utilized? of that really basically sensor production means build needed [north-pole] isn’t since facility inventory

David Brunton

AirBar that to because I good is were all mean for that concept the not that quite the architecture the proved inside that same used opposite the the all that No other embedding us at did architecture is – the company. the it sensor thing were same sensors cross presenting of its to one the what AirBar sensor

sensor But guess goodness I and we’re of I'll modules still inventory of another up Amazon stock is bit AirBars purchase can we’re to a was Ingram manufacturing there mention that running for in And Micro the in so we and AirBar and of we an fact them in us. bet still of just sites out have to selling smaller go purchase got numbers. selling and facility small that And came AirBars still for has and it’s order actual AirBar you any those from order. a it buy

was the for I AirBar it issue volume Our that us. not fit in makes volumes is mean a just it

And we’re us. our resources our where been rather business that’s this on that's we’re and trying point core AirBar to mind focus what reset and pivoting is at your to this for call in so we on making that

Walter Schenker

maybe your its of really over is business better version customers last portable sensor given sensors then the you that licensing in economics - couple the ramped And selling machines, question the see sales? in by the next years

David Brunton

expect speculative licensing to but that’s manufacture path to sensor hey we are hey that - the modules, them manage see presentation focus Andreas’ that’s and we What I sensor on or an of Well support To we’re into think fair do say license moving do to a the and focused are a development you be if expect and rather we’d depending and they alternative trying licensing what do the agreement that to. need. buying still And and down sensor we it leading we we all of them company. as this see. still to we sort we’re a customers’ products they or to will enter and licensing was either to a can product to licensing would we company offer a now customer sell from

Operator

Instructions] the [indiscernible]. [Operator a have from Your line of question

Unidentified Analyst

business. new I customer just know to on wanted focus

the or you? other such examples you names give you would an c like only where would new example what opportunity not would that consider For Trolley like

David Brunton

them. we is Yes already and – to a shipped definitely of sensors that have series opportunity an

definitely working some that and are trolleys so on. other products are And are to things medical. now it's a There up industrial with markets into we’re them become their them they bit successful but put their to

think seen probably last that so prototypes or certainly seen are I auto the half have of customers customer markets contacts when I’ll a either other certainly there our at – And them and terms it to that’s segment probably they starting in mature ready yet comes just point, production have this year markets. it sensors and and more sensors they’re key final things we is but call they to are over the see market that

Unidentified Analyst

So you most… the would say

David Brunton

Let that me Andreas to let add color some okay.

Andreas Bunge

just to licensing mean another thing so screens relations also on. opportunities larger go is that I can we to see And technology on what customer wanted where in is screens and I say more that for have. have the we printers done our with screens bigger expand we smaller to we

the problem So in We markets. a of on – of have focus the see it markets certain areas the we where don't use that need we we use it's not to for it's have we trolley if for get really and sensor to trolley the we attach a a the there's lot And for rollout that that is we not some about sensor trolley. this good they interest. that talk lot screens

company the company a but on. steady the that good for bigger and for that for will they robustness. is it's really screens And with foundation not use it’s the and we So more of generate what build just we is coming good we licensing, can for our this see it’s I and like sensor cash modules the can us what the think licensing screen business out flow this

Unidentified Analyst

industries? from screen screen using Trolley but type is that you So the this different having of say end-users for you other all just out in C interest are

David Brunton

the in the Don't screen confuse it's that’s a module we’re going is building that going answer yes. be not a we’re but sensor building to screen

them with we prototypes numerous or working are - DigiKey kits agreements call development for have we from not or they customers but are signed prototypes don’t bought example. I’ll they’ve delivered We potential customers, have

And know is that is business of so as this embedded and motion in [indiscernible] overnight. doesn't happen all you

see And of sudden with in down and the to things key the part forward we the a so It's don't a we’re in next a of is you’re provide as that walk all license going idea revenue the strategy marketplace. move away stabilization bunch process of road. month the fees to a going this of that a

Operator

question next line of from comes Private Mayer, Jack Investor. Your the

Unidentified Analyst

it? fourth Can are into cash now that in first you on more cash in burn the what than what the comment quarter the you was the and on trends quarter, two-thirds

David Brunton

talk can not or future stuff what's about going the get this visibility about to but more until going current talk fourth a any the quarter, into really we're at lot I point on. quarter we

So burn for write-down expense if to is probably was loss. quarter, $XXX,XXX actually expense non-cash take and the cash the stock get fourth was option - there. of out non-cash take about you you $XXX,XXX the from inventory the $XXX,XXX operations There in a depreciation

to operational quarter the $XXX,XXX. that a say burn the $XX,XXX from would I for cash So fourth was in probably anywhere neighborhood of

Unidentified Analyst

what and specific? that you in. the without how too And in significantly you the quarter cash rate, burn you're investing business fourth see see in Do getting forward anything were in the would you XXXX terms where going increase of from

Andreas Bunge

No.

the we take the we and as that the licensing some As major focusing David over year see sales that add and sensor to and of balance because even little we we believe have sensor are opposite can sales now customers flow licensing increasing on range on done the mentioned in have we coming is the investments sales sensor we have takes both a sales a side, time. if licensing a some don't believe the see from but cash and that. But to said anything we products goal that the increase we as longer we and in time their - cost expand and could

Unidentified Analyst

you that balance do you're that it cash the So to on looking comfortable then that somewhat you're sheet what asking to is is it the differently, enough do? currently have

Andreas Bunge

the we do plan we is front flow of cash have do by to in mean us. set have What sufficient business balance cash that that

Unidentified Analyst

terms In actively someone partner it you intend just sort you AirBar, to looking with let of are that out of gradually? or to do else

Andreas Bunge

that. that that continue some around to the we have will and see have on partners we We right

it. But very to more on And easier so and also. when the it could be of This think good and people find energy believe we some a put impressed what we haven't a it's technology it's right expected. partner partner. much still get product make as good we sold I a difficult it So with And that, see. not course they we

Unidentified Analyst

life finally is but the correctly been a for the And decline I with fact of in part the to which these auto business might I than if to do understood I in you if correctly? it have with Chinese sales it, that said understood the the big respect that West. you particular correctly understand model shorter was very you not Did has models

David Brunton

I true. think think Yes, I that's

hard But think You it's at something. let's your Last biggest around the X, it's get to I SUV provided know what's or Delphi the take of that beginning arms year that the XXXX there. of the Bojan our sometimes end was is just X SUV. their that Delphi XXXX And center console the customer. car, for like market. for selling in Chinese happening

a were the let's think. say some hundred thousand units of selling rate so And a and think I they at quarter I

we talking talking the cars. be know to center Would volume using in the our And XX,XXX versus it's a so, number console total at using down or the occurrence. common units point. country, of a that not think quarter one our about we're still drop XX,XXX not, we're car seems a pretty the they're to this right. those awful fast they're selling And off I for numbers - And about something like

Unidentified Analyst

is it not So, differently, manufacturer? automotive Delphi the customer to your somewhat say

David Brunton

That's right.

Unidentified Analyst

is supplier someone they over. I if to of whether on who a And mean not, taking then basically for is If Delphi question a sake, have there SUV model? else argument's or that other a it's it's follow-on is now

David Brunton

because models sold are our we're touchscreen, talking about talking the using total not No models about we're that in market.

You it Auto what go monthly to news can at China, is at of car in sales and China. every look the

let's when that more in whether course volume rather over you actual our two follow touch years. quickly dropping using so, it is total years, And than not or the say the they're half

Andrea the can Tier if as that top models, push to measure said, life out their so said if to to be stuff. cycle we're their an talking happening. some they with these know that the pick They're also see and on auto guys, of out that's up find our at what's of we very internal seems new of Xs aggressive bottom going what's sales in And And short. to you

Unidentified Analyst

working So, models working Delphi try get Delphi with they're the with I are? Delphi you the you new to themselves for selling mean be whatever obviously into go they get Incorporated. would to but are be would trying to to business

David Brunton

that touch, cars they've the our of the are we're anything. use supplier Alpine will license consoles XE-XX, do and is pay design award that, just to a stuff. tooling out. the upfront one because them example one remember side we Yes, done, upfront new several been business, for bring They suppliers all the the have have to they the everything in Tier model into of tooling, lot and a build the of of Alpine all Tier lot has is can that center our X providing they getting cost that for an process, already having the to has thing our they expense the as on Volvo. is that new do - released new barriers for actually a entry hours, they for to they're cost worked the this all themselves. get got in With all designs place. current the using all And Volvo I us the first winning touch. a put is into a for us to on X tools, stuff, because them but to fee of licensing and lot Alpine structure live have already that of there's an manufacturing not the

These is of more. anything so they guys have short And circuit. don’t that kind have to do to do more. build is, All

go their trying we're And to to try make OEMs going encourage use that so push out customers, their them and Does to ours. and to out sense?

Unidentified Analyst

Yes.

module? And is licensing selling sensor a also not so the relationship relationship a Delphi

David Brunton

auto are infotainment licensing. the all systems is, It

Andreas Bunge

we may in into that bigger and sensor look the deals be mentioned also But for we sold screening the as there opportunity as modules screen for where size. I a have grows

And for manufacturers. screens the bigger car unique. then module for car for perfect. option are like the So, the traditional licensing new we screens the is But for sensor screens is smaller screens best special

licensing So And the say important good future. again a we is have we foundation for solutions. module see and come is different what really what to we different thing markets once But the business sensor the is company. the for

Operator

And no audio question further we have at time. this

David Brunton

bye. We have our on a good want you. today to and thank joining you us day. all for Bye, call Thank

Operator

and today's for disconnect you you call. your please line. that ask conference participation thank does your We This conclude

Neonode (NEON) 8 Mar 182017 Q4 Earnings call transcript