Neonade Inc. (NEON) stock prices were up by 18.38% some time after market trading commenced on September 3rd, 2021. This brought the price per share up to USD$6.12 early on in the trading day.
NEON Stock’s TSMs
The second quarter of the fiscal year 2021 saw NEON stock continue to execute its strategies and further develop its business pipeline. The company continues to allocate resources towards contactless touch solutions for elevators and kiosks. This will be facilitated by the company’s proprietary Touch Sensor Modules which will offer an intuitive and safer user experience.
Strength of Asian Market
The company forecasted the first adopters of its TSM solutions to be based in Asia, with Q1 and Q2 2021 sales confirming these expectations. More than 70% of the company TSM sales over the first half of fiscal 2021 were made to Asian customers. These customers use the TSMs for contactless touch applications.
Further Developments
NEON stock also has several development and pilot projects in the works for elevators. The company is also facilitating an array of different public space kiosks across Asia. These will include self check-in and retail self-check-out kiosks. Asian customers are the company’s leading demographic, but NEON is continuing to see an increase in interest from European customers and North Americans. The company also continued to allocate resources towards recruiting a talented and experienced workforce across its sales, marketing, and engineering. This will serve to strengthen the team and help the company create and capitalize on growing market opportunities. These opportunities include both contactless touch opportunities with elevator kiosk customers, as well as other opportunities. Combined, these will allow the company to leverage its extensive IP portfolio.
NEON Stock’s Revenue Report
The second quarter of fiscal 2021 saw net revenues increase by 127% as compared to the prior-year quarter. This year-over-year difference is largely attributable to higher license revenues in Q2 2021. The yearly increase was further consolidated by higher revenues from the sale of Touch Sensor Modules. Partially offsetting these gains was a decrease in non-recurring engineering revenues.
Future Outlook for NEON Stock
NEON stock reported a stellar quarter, as evidenced by the strength of its financial reports for the second quarter of fiscal 2021. The company is poised to capitalize on the opportunities afforded to it as it ushers in unprecedented growth. Investors are confident in management’s ability to facilitate consistent gains in shareholder value over the long term.
