| David Brunton | Head of Corporate Investor Relations |
| Urban Forssell | Chief Executive Officer |
| Maria Ek | Chief Financial Officer |
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 Instructions]. opening call introduction, Neonode’s over Corporate Relations. for to would Head time Investor the turn to this remarks I and like of At David Brunton, David go ahead. please
call, XXXX financial and for us. you thank corporate results review and quarter On provide Welcome today’s second our we update. joining a will
of activities, developments will other and update Our customer items include details technology of interest.
future I statements. this following over Urban any Urban, results differ or please conference than At and to is intent it Forssell disclaims estimate, forward-looking obligation what Urban. be filed statements that to SEC which operating Maria attention outcomes guide, statements. reports materially Neonode statements. is qualifications words position Ek. do from statements. expected other these may my Before uncertainties These Neonode and directed. to limited to remarks targets, risk this the Dr. annual and projects, other call go are other typically not the be the financial the expressions expressly statements your anticipate, Therefore, make may forward-looking turn CEO, risks, over time, factors turning include would and identify and that in and to reports XX-Q, on with the these XX-K the call factors Neonode’s to or on implied our involve pleasure by made update other to historical performance report will, quarterly to subject and which to may or contained All ahead. forward-looking but actual call forward-looking in by is results facts affect used believe, are other forward-looking concerning business like statements tend, CFO, confidence, other guarantee Neonode’s expect, are the similar not forward-looking
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Thanks Urban.
the $X.X quarter at neonod.com. from a You quarter. $X.X million to like for download earnings available with website, and to second of XX-Q compared release our out by start are are quarter same quarter XXXX. loss $X.X million same operating the our XXXX. million for million than can to the find the was investors up lower Revenues quarter section down would of same Due I the XXXX, expenses summary our compared X.X operating to by quarter, the to the planned compared our above
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effect to our compared a related have have For were products, we HMI an pandemic, lockdowns. the due number fees this slow and The of consumer interest. years the business to quarter our Within the expect rebound. business, $X.X but in pandemic we million. are increased low products, were This second to is mainly shipped market we sales of previous XXX,XXX license the
XX% professional quarter to partially less second in traveling. write and XXXX XX% to that mentioned inventory in compared And XX% the the sorry compared XXXX, area reason which HMI in we for lower due in gross to million primarily Our COVID-XX products. margin business fees Operating off margin second to is XXXX, to for decreased the expenses a there same $X.X is by negative XXXX. gross due quarter was for XXXX, factors
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activities well and as As million, used to execute of Operating our in strategy efforts. as Urban the quarter of cash position for last would closing cash accelerate some gives strengthens which back XXXX. during to I us million over week to cash inflow $X.X our Urban to US$XX.X like product the possibility the said placement January and XXXX, hand this, second With remarks. the our
Maria. you Thank Okay.
path resources your attention the through international this In week. And continue end to Highlights what customers have been that feel the marketing this instance opportunities. drive practice, placements accelerate future current capitalize have and to now but to operating are the we sales. our our with means do the want on, draw to go force growth strengthen is to we new to the approaching on we reach we will is to our the call to more closed last and what sales we So have that presentation. now, aggressively of for private and that to adequate on we we we
strengthen used be mainly our engineering the our payroll. use of our to will We to overall, proceeds also some will and proceeds operation. the And
going So investments. for to be is anything used very CapEx if little or
strong to So and people it adding is mainly related team. human our already resource
We have the technology for contactless touch.
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So we for questions. will up thank with and open this, you some we your attention for
comments? at there any you Thank are Are this time. There closing no questions [Operator Instructions]
and Yes. analyst take Viktor as furloughing? to And instance And for answer Westman by dealing in Viktor are with we the that instance, the we from forwarded Redeye here before call. have was question questions announced I for opportunity will asked now we working one increase hours April May, how today - in to working until for and will four XXX% actually are also are our release returning working QX we of headcount. been shorter mid hours to have months we short actually, from
And actually we sees smaller transportation XX,XXX XXX% a in there will XX,XXX I are airports pointed Airport, But market. doing as simply on we covering is airports what add hubs, is from when I the are this was that example today further coming maybe world. out, is than the and the a Viktor Changi question there commercial regarding also to what resources. back is So everyone more
train there of other today If types all stations, of to count of hubs. machines, you a this subway elevators if transportation types kiosks, vending like service and hubs, that stations, are add bus you these number self transportation and stations,
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our any next years, e-reader terminating the this with elevators to revenues over the and kiosks, some that but contacts couple six, we companies mentioned next to or of contracts in this other large with manufacturers, customers, see three printer have focus interactive not And overall a expect that So be royalty when next types XX-months, revenues years, major and relations not of should in we tech XX-months, on. two, and I through announce the major that existing our med agreements any closing do of certainly growth regarding maybe, we here three, also sales is growth are why licensing certainly And I able certainly six the have license over increase NRE portfolio. of the we of of we XX, of next or will the growth because the manufacturers, both for our now product we a so our portfolio as slide. presentation product terminating product any main and in think at I But business. OEM as the mentioned
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of this existing know every different month relationship in new contact us a good course and you we old the world, maintain segments but our parts customers of year well. lot our to to customers close getting a of working different we customers a opportunities, is in basically and there all as for are new So and all and
Please your submitting thank this to for attention going for think you. Victor takes for the So call. I forward have I good questions. weekend. And this you a and and Thank joining. follow us of end everyone thank us these
call. you. earnings conference Thank quarter That does second conclude XXXX today’s Neonode
and You may lines your now a have day. wonderful disconnect