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Smart Eye AKTIEBOLAG AK (SMTEF) is a global leader in Human Insight AI, specializing in understanding, supporting, and predicting human behavior in complex environments. With a focus on bridging the gap between humans and machines, Smart Eye offers multimodal software and hardware solutions that provide unparalleled insight into human behavior.
In the automotive sector, Smart Eye is renowned for its driver monitoring systems and interior sensing solutions that enhance road safety and the mobility experience. The company's technology is utilized by major automotive manufacturers globally, with a track record of 296 design wins from 20 OEMs.
Smart Eye's recent achievements include securing orders from leading car manufacturers for the delivery of its Driver Monitoring System software to new car models. These breakthrough orders underscore Smart Eye's position as a market leader in the automotive safety technology space.
Smart Eye has secured up to 53 new Driver Monitoring System (DMS) design wins from a major North American car manufacturer, with estimated revenue of SEK 800 million based on product lifecycle projections. This order allows Smart Eye to deliver its AI-based DMS to new car models, and is partly in response to upcoming European legislation making DMS mandatory by 2024. The order reinforces Smart Eye's market position in Europe, North America, and China, aiming for a global market share of at least 40% in the long term.
Smart Eye (OTC PINK:SMTEF) has secured 34 new design wins for its Driver Monitoring System (DMS) from three major global car manufacturers, projected to generate revenue of SEK 350 million. This order is significant as it represents the largest number of new car models awarded in the company's history. Production is set to begin in 2025, anticipating a market of 18 million vehicles in Europe by 2026. Smart Eye has achieved a total of 141 design wins with an estimated lifetime value exceeding SEK 3,035 billion.
Smart Eye has secured a significant order from two existing customers to deliver its Driver Monitoring System (DMS) software for four additional car models, estimating revenue of SEK 100 million. The electric midsized sedan and a popular compact crossover SUV will begin production in 2023 and 2024. With a total of 107 design wins across 16 OEMs, the anticipated lifetime value from current design wins exceeds SEK 2,685 million. This growing trend of existing customers expanding their product lines is expected to boost Smart Eye's business in the evolving DMS market.
Smart Eye has announced an extraordinary general meeting scheduled for December 30, 2022. Due to new regulations, the meeting will be conducted via advance voting only, with no option for in-person attendance. Shareholders must be registered by December 21, 2022, and submit their votes by December 29, 2022. Key agenda items include the election of a chairman and authorization for the board to issue new shares. As of the announcement date, Smart Eye has 22,232,951 shares outstanding, and further details will be available on their website.
Smart Eye has secured a key order for its Driver Monitoring System (DMS), AIS, valued at SEK 40 million, from a European luxury sports car manufacturer. This marks a significant breakthrough for Smart Eye, as it signals the first time this customer sources their technology. The AIS system, which utilizes AI-based algorithms, aims to enhance road safety by detecting driver impairment. With a total of 103 design wins across 16 OEMs, the estimated lifetime value of current design wins exceeds SEK 2,585 million.
Smart Eye has secured an order to provide its advanced Driver Monitoring System (DMS) software to a new electric luxury car model from a European premium car manufacturer. The estimated revenue from this order is SEK 10 million, based on product lifecycle projections. This new win adds to Smart Eye's total of 102 design wins across 15 automotive OEMs, contributing to a combined estimated lifetime value exceeding SEK 2,545 million. The new vehicle is set to enter production in the first half of 2024.
Smart Eye has appointed Martin Bjuve as the new Chief Financial Officer (CFO), effective November 14, 2022. Bjuve brings 19 years of leadership experience from Volvo Penta, with expertise in finance and management. As CFO, he will enhance Smart Eye's financial operations and contribute to growth in its Automotive and Behavioral Research business sectors. CEO Martin Krantz expressed confidence in Bjuve's ability to accelerate the company's growth trajectory as it continues to innovate in Human Insight AI technology.
Smart Eye has secured a new Driver Monitoring System (DMS) design win from a major European car manufacturer, projected to generate estimated revenues of SEK 50 million. The new order includes the delivery of their AI-based DMS software for a car model expected to enter production in 2024. With this latest win, Smart Eye's total design wins now stand at 101 from 15 OEMs, potentially increasing their estimated lifetime value from current design wins to over SEK 2,535 billion.
Smart Eye reported a strong financial performance for Q3 2022, with net sales of SEK 50.9 million, marking a 65% increase year-over-year, of which 23% was organic growth. However, EBITDA stood at SEK -55.6 million, reflecting continued investment in resources for ongoing projects. The operating loss was SEK -95.1 million due to depreciation impacts from acquisitions. Cash reserves were SEK 82.2 million. Upcoming financing alternatives are being explored. The company secured a SEK 100 million order for Driver Monitoring System software from a Korean client.
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