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Side-by-side financial comparison of Neonode Inc. (NEON) and OSR Holdings, Inc. (OSRH). Click either name above to swap in a different company.

OSR Holdings, Inc. is the larger business by last-quarter revenue ($627.7K vs $430.0K, roughly 1.5× Neonode Inc.). Neonode Inc. runs the higher net margin — 3298.6% vs -508.9%, a 3807.5% gap on every dollar of revenue. On growth, OSR Holdings, Inc. posted the faster year-over-year revenue change (-23.7% vs -48.7%).

Neonode Inc. develops and markets innovative optical touch sensing and contactless gesture recognition technologies for global clients. Its core offerings include zForce sensing modules, embedded software solutions and custom integration services, deployed across key end segments including automotive infotainment systems, industrial human-machine interfaces, consumer electronics and medical devices.

NEON vs OSRH — Head-to-Head

Bigger by revenue
OSRH
OSRH
1.5× larger
OSRH
$627.7K
$430.0K
NEON
Growing faster (revenue YoY)
OSRH
OSRH
+25.0% gap
OSRH
-23.7%
-48.7%
NEON
Higher net margin
NEON
NEON
3807.5% more per $
NEON
3298.6%
-508.9%
OSRH

Income Statement — Q3 FY2025 vs Q3 FY2025

Metric
NEON
NEON
OSRH
OSRH
Revenue
$430.0K
$627.7K
Net Profit
$14.2M
$-3.2M
Gross Margin
97.9%
41.7%
Operating Margin
-605.9%
Net Margin
3298.6%
-508.9%
Revenue YoY
-48.7%
-23.7%
Net Profit YoY
1404.9%
-1283.3%
EPS (diluted)
$0.12

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
NEON
NEON
OSRH
OSRH
Q3 25
$430.0K
$627.7K
Q2 25
$599.0K
$1.1M
Q1 25
$513.0K
$761.3K
Q3 24
$838.0K
$823.0K
Q2 24
$801.0K
$881.8K
Q1 24
$814.0K
$910.2K
Q4 23
$373.0K
Q3 23
$1.0M
Net Profit
NEON
NEON
OSRH
OSRH
Q3 25
$14.2M
$-3.2M
Q2 25
$-1.9M
$-5.2M
Q1 25
$-1.7M
$-11.4M
Q3 24
$-1.1M
$-231.0K
Q2 24
$-1.7M
$-97.3K
Q1 24
$-2.1M
$-60.4K
Q4 23
$-5.9M
Q3 23
$-1.3M
Gross Margin
NEON
NEON
OSRH
OSRH
Q3 25
97.9%
41.7%
Q2 25
99.0%
2.9%
Q1 25
98.2%
22.2%
Q3 24
97.3%
21.8%
Q2 24
97.0%
26.3%
Q1 24
97.9%
26.3%
Q4 23
Q3 23
83.7%
Operating Margin
NEON
NEON
OSRH
OSRH
Q3 25
-605.9%
Q2 25
-352.3%
-460.5%
Q1 25
-383.0%
-383.3%
Q3 24
-146.2%
-433.4%
Q2 24
-223.3%
-364.0%
Q1 24
-231.7%
-362.8%
Q4 23
-343.4%
Q3 23
-125.3%
Net Margin
NEON
NEON
OSRH
OSRH
Q3 25
3298.6%
-508.9%
Q2 25
-311.9%
-460.2%
Q1 25
-337.8%
-1496.5%
Q3 24
-129.7%
-28.1%
Q2 24
-211.6%
-11.0%
Q1 24
-256.0%
-6.6%
Q4 23
-1588.5%
Q3 23
-126.2%
EPS (diluted)
NEON
NEON
OSRH
OSRH
Q3 25
$0.12
Q2 25
$-0.11
Q1 25
$-0.10
Q3 24
$-0.07
$-0.06
Q2 24
$-0.11
$-0.02
Q1 24
$-0.14
$-0.01
Q4 23
$-0.39
Q3 23
$-0.08

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NEON
NEON
OSRH
OSRH
Cash + ST InvestmentsLiquidity on hand
$11.6M
$2.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$26.8M
$134.2M
Total Assets
$32.8M
$177.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NEON
NEON
OSRH
OSRH
Q3 25
$11.6M
$2.2M
Q2 25
$13.2M
$1.6M
Q1 25
$15.0M
$1.6M
Q3 24
$12.2K
Q2 24
$119.1K
Q1 24
$14.3M
$3.6K
Q4 23
$16.2M
Q3 23
$18.5M
Stockholders' Equity
NEON
NEON
OSRH
OSRH
Q3 25
$26.8M
$134.2M
Q2 25
$12.7M
$139.2M
Q1 25
$14.6M
$132.3M
Q3 24
$18.0M
$-5.8M
Q2 24
$13.3M
$-4.9M
Q1 24
$15.0M
$-4.3M
Q4 23
$17.2M
Q3 23
$23.0M
Total Assets
NEON
NEON
OSRH
OSRH
Q3 25
$32.8M
$177.3M
Q2 25
$15.1M
$185.4M
Q1 25
$17.0M
$174.6M
Q3 24
$19.6M
$20.9M
Q2 24
$15.2M
$20.6M
Q1 24
$16.9M
$37.3M
Q4 23
$19.0M
Q3 23
$24.8M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NEON
NEON
OSRH
OSRH
Operating Cash FlowLast quarter
$-1.5M
$-2.7M
Free Cash FlowOCF − Capex
$-1.6M
FCF MarginFCF / Revenue
-372.6%
Capex IntensityCapex / Revenue
17.4%
Cash ConversionOCF / Net Profit
-0.11×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NEON
NEON
OSRH
OSRH
Q3 25
$-1.5M
$-2.7M
Q2 25
$-1.8M
$-482.6K
Q1 25
$-1.4M
$-64.1K
Q3 24
$-1.3M
$-686.5K
Q2 24
$-1.2M
$-483.2K
Q1 24
$-1.9M
$-498.8K
Q4 23
$-2.2M
Q3 23
$-1.8M
Free Cash Flow
NEON
NEON
OSRH
OSRH
Q3 25
$-1.6M
Q2 25
$-1.8M
Q1 25
$-1.4M
Q3 24
Q2 24
Q1 24
Q4 23
Q3 23
$-1.8M
FCF Margin
NEON
NEON
OSRH
OSRH
Q3 25
-372.6%
Q2 25
-296.3%
Q1 25
-272.9%
Q3 24
Q2 24
Q1 24
Q4 23
Q3 23
-180.2%
Capex Intensity
NEON
NEON
OSRH
OSRH
Q3 25
17.4%
Q2 25
4.2%
Q1 25
7.8%
Q3 24
0.0%
Q2 24
Q1 24
Q4 23
Q3 23
2.2%
Cash Conversion
NEON
NEON
OSRH
OSRH
Q3 25
-0.11×
Q2 25
Q1 25
Q3 24
Q2 24
Q1 24
Q4 23
Q3 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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