Smart Eye Announces Four New Design Wins from Two Global Japanese OEMs
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.
- Secured an order for four additional car models, expanding existing customer relationships.
- Estimated revenue of SEK 100 million from this new order.
- Total design wins have reached 107 from 16 OEMs, with an estimated lifetime value exceeding SEK 2,685 million.
- None.
GÖTEBORG, SE / ACCESSWIRE / December 08, 2022 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye has been selected by two existing customers to deliver its world-leading Driver Monitoring System (DMS) software to four additional car models. The estimated revenue of the order is SEK 100 million based on estimated product life cycle projections.
Gothenburg, Sweden - December 8, 2022 - Smart Eye, the leading developer of DMS software to the automotive industry, will deliver its AI-based technology to four new car models. The customers, two global Japanese car manufacturers in the same alliance, has previously chosen Smart Eye's software for implementation in 14 of its earlier car models and is now extending the technology to several models on the same platform.
The new car models including Smart Eye's technology will go into production in 2023 and 2024. One of the cars is an electric midsized sedan with expected high production volumes, another one is one of the world's more popular compact crossover SUVs. The estimated revenue for the order is SEK 100 million, based on product life cycle volume projections.
"Existing customers extending their programs to additional car models is getting more common," said Martin Krantz, CEO and Founder of Smart Eye. "We can anticipate other customers to do the same, growing our business as a result. As the post-Covid situation is normalizing we foresee quickly increasing volumes in an industry that is adapting DMS as a standard safety equipment, making it as common as seatbelts and airbags in tomorrow's cars."
Smart Eye has now received a total of 107 design wins from 16 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,685 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,425 million.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Gabi Zijderveld, CMO Smart Eye AB
Email: gabi.zijderveld@smarteye.ai
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.
In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.
Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, 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 Nasdaq First North Growth Market. Erik Penser is Certified Adviser.
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 2022-12-08 10:30 CET.
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Smart Eye Announces Four New Design Wins from Two Global Japanese OEMs
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FAQ
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