Smart Eye Announces 19 New Driver Monitoring System Design Wins with One of The World’s Largest Vehicle Producers

Rhea-AI Summary

Smart Eye (SEYE) has been nominated to deliver its Driver Monitoring System (DMS) software to 19 additional car models, with an estimated revenue of SEK 200 million. The company will collaborate with a major automotive manufacturing corporation and an European-American automotive alliance, marking a significant expansion in its market reach. Smart Eye's CEO, Martin Krantz, expressed optimism about the surge in design wins and the company's position as the market leader, highlighting the impact of upcoming European legislation mandating DMS in new vehicles. With a total of up to 315 design wins from 21 OEMs and a combined estimated lifetime value of over SEK 6.915 billion, Smart Eye is poised for substantial growth in the automotive industry.

GÖTEBORG, SWEDEN / ACCESSWIRE / January 5, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has been nominated to deliver its world-leading Driver Monitoring System (DMS) software to 19 additional car models. The estimated revenue of the order is SEK 200 million based on estimated product life cycle projections.

Smart Eye, the leading developer of DMS software for the automotive industry, will deliver its technology to 19 new car models by an existing customer, a major automotive manufacturing corporation. The new order comprises several OEM brands, in a European-American automotive alliance, which constitutes one of the largest vehicle producers in the world. One of the OEM brands included in the order is sourcing Smart Eye's technology for the first time.

The new car models, including Smart Eye's technology, will go into production at the end of 2026. The estimated revenue for the order is SEK 200 million, based on product life cycle volume projections.

"The turn of the year is typically high season for DMS procurement processes to reach an outcome. This year is proving to be no exception, with great success for Smart Eye," said Martin Krantz, CEO and Founder of Smart Eye. "We are happy to once again expand our collaboration with an existing customer. We have long predicted a surge in the amount and scope of design wins, with the European legislation mandating DMS in new vehicles soon set to come into force. We are now seeing the effect of this upcoming regulation, and it's clear that Smart Eye's position as the market leader is only further established."

Smart Eye has now received a total of up to 315 design wins from 21 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 6.915 billion. The estimated value over the product lifecycle from possible additional design wins with all 21 car manufacturers is SEK 2.8 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 2024-01-05 08:30 CET.

Attachments

Smart Eye Announces 19 New Driver Monitoring System Design Wins with One of The World's Largest Vehicle Producers

SOURCE: Smart Eye

View the original press release on accesswire.com

FAQ

How many car models is Smart Eye delivering its DMS software to?

Smart Eye is delivering its DMS software to 19 additional car models.

What is the estimated revenue of the order?

The estimated revenue of the order is SEK 200 million.

How many design wins has Smart Eye received from OEMs?

Smart Eye has received a total of up to 315 design wins from 21 OEMs.

What is the estimated combined lifetime value from current design wins?

The combined estimated lifetime value from current design wins is now larger than SEK 6.915 billion.

Who is the CEO of Smart Eye?

Martin Krantz is the CEO of Smart Eye AB.