Smart Eye Announces 12 New Driver Monitoring System Design Wins with Major Korean Manufacturer

Rhea-AI Summary

Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) has been selected to deliver its Driver Monitoring System software to twelve new car models for a leading Korean car manufacturer, with an estimated revenue of SEK 150 million. The company has received up to 250 design wins from 20 OEMs, with a combined estimated lifetime value of over SEK 5.165 billion.

Positive

• The company has secured a significant order with an estimated revenue of SEK 150 million.
• Smart Eye has received up to 250 design wins from 20 OEMs, indicating strong market demand and confidence in its technology.

Negative

• None.

GÖTEBORG, SE / ACCESSWIRE / December 07, 2023 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has been selected to deliver its world-leading Driver Monitoring System (DMS) software to an additional twelve car models. The estimated revenue of the order is SEK 150 million based on estimated product life cycle projections.

Gothenburg, Sweden - December 7, 2023 - Smart Eye, the leading developer of DMS software for the automotive industry, will deliver its technology to twelve new car models by an existing customer.

The customer is a leading Korean car manufacturer with a global manufacturing footprint. The OEM has previously sourced Smart Eye's software for implementation in several of its earlier car models and has now chosen to extend the technology to additional vehicles.

The first of the new car models including Smart Eye's technology will go into production in the beginning of 2024. The other car models will go into production during the second half of 2024 and 2025. The estimated revenue for the order is SEK 150 million, based on product life cycle volume projections.

"As we keep winning additional models with existing customers, we further strengthen our collaboration with the world's leading car manufacturers," said Martin Krantz, CEO and Founder of Smart Eye. "The consistent high performance of our software is what has made us a leading provider of DMS to the automotive industry, and we take pride in setting the standard for quality and reliability in every model we equip with our technology."

Smart Eye has now received a total of up to 250 design wins from 20 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 5.165 billion. The estimated value over the product lifecycle from possible additional design wins with all 20 car manufacturers is SEK 4.145 billion.

For more information:

Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se

About Smart Eye

Smart Eye is the leading provider of Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. The company is on a mission to bridge the gap between humans and machines for a safe and sustainable future. Supported by Affectiva and iMotions - companies it acquired in 2021 - Smart Eye's multimodal software and hardware solutions provide unparalleled insight into human behavior.

In automotive, Smart Eye's driver monitoring systems and interior sensing solutions improve road safety and the mobility experience. The company's eye tracking technology and iMotions biosensor software platform are also used in behavioral research to enable advanced research in academic and commercial sectors. In media analytics, Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with content, products, and services.

Founded in 1999, Smart Eye is a global company headquartered in Sweden, with customers including NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Polestar, Geely, Harvard University, 26 percent of the Fortune Global 500 companies, and over 1,300 research organizations around the world.

Visit www.smarteye.ai for more information.

Visit our investor web for more financial information: https://smarteye.se/investors/

Smart Eye is listed on the Nasdaq First North Growth Market. The Company's Certified Adviser is Carnegie Investment Bank AB (publ).

This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-12-07 12:00 CET.

Attachments

Smart Eye Announces 12 New Driver Monitoring System Design Wins with Major Korean Manufacturer

SOURCE: Smart Eye

View source version on accesswire.com:
https://www.accesswire.com/814288/smart-eye-announces-12-new-driver-monitoring-system-design-wins-with-major-korean-manufacturer

FAQ

What is the latest development for Smart Eye (STO:SEYE)?

Smart Eye has been selected to deliver its DMS software to twelve new car models for a leading Korean car manufacturer, with an estimated revenue of SEK 150 million.

How many design wins has Smart Eye (STO:SEYE) received?

Smart Eye has received up to 250 design wins from 20 OEMs, with a combined estimated lifetime value of over SEK 5.165 billion.

What is the estimated revenue for the recent order?

The estimated revenue for the recent order is SEK 150 million.

Who is the CEO of Smart Eye (STO:SEYE)?

The CEO of Smart Eye is Martin Krantz.