Neonode is a small technology licensing company built around two sensing platforms: MultiSensing and zForce. MultiSensing is machine perception software that uses machine learning to detect and track people and objects in camera video streams, with its primary application being driver and occupant monitoring systems for the automotive market. zForce is an optical sensing technology for touch, contactless touch, and gesture sensing, used primarily by printer OEMs; in September 2025, Neonode stopped selling zForce to new customers and moved it to maintenance mode, making MultiSensing the sole growth focus. Neonode operates as a Tier 2 automotive supplier, licensing its technology to Tier 1 suppliers who integrate it into systems sold to vehicle manufacturers. Outside automotive, Neonode's main customers are printer OEMs, with Seiko Epson and Hewlett-Packard among the largest. Neonode earns revenue primarily through per-unit royalties tied to how many units its customers ship, making revenue directly dependent on customer production volumes. NRE engineering support fees represent a smaller share of revenue. Revenue is heavily concentrated, with four customers accounting for roughly 87% of FY25 revenue, and Japan representing 62% of FY25 revenue. Neonode's growth strategy centers on winning new automotive customers for MultiSensing as driver monitoring regulations expand, particularly in Europe, while also exploring amusement, retail self-checkout, and holographic interaction as potential new verticals — though Neonode's small size limits its ability to pursue multiple opportunities simultaneously.