Smart Eye Announces New Driver Monitoring System Design Win with Major Japanese Car Manufacturer

Rhea-AI Summary

Smart Eye (STO:SEYE, OTC PINK:SMTEF, FRA:SE9) has secured a new Driver Monitoring System (DMS) design win with a major Japanese car manufacturer. The order, valued at SEK 25 million, is for an additional car model from an existing customer, set to go into production in 2026. This brings Smart Eye's total design wins to 358 from 22 OEMs, with a combined estimated lifetime value of over SEK 8.225 billion.

The Japanese OEM will expand the range of features provided by Smart Eye's DMS technology in this new model. Smart Eye, a leading developer of DMS software for the automotive industry, estimates an additional potential value of SEK 3.225 billion from possible future design wins with all 22 vehicle manufacturers.

Positive

• Secured a new DMS design win worth SEK 25 million
• Expanded business with existing major Japanese car manufacturer
• Increased total design wins to 358 from 22 OEMs
• Combined estimated lifetime value of current design wins exceeds SEK 8.225 billion
• Additional potential value of SEK 3.225 billion from possible future design wins

Negative

• None.

Smart Eye has been selected to deliver its Driver Monitoring System (DMS) software to an additional car model. The estimated revenue of the order is SEK 25 million based on estimated product life cycle projections.

GÖTEBORG, SWEDEN / ACCESSWIRE / August 29, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9), the leading developer of DMS software for the automotive industry, will deliver its technology to a new car model by an existing customer.

The customer is a leading Japanese car manufacturer with a global manufacturing footprint. This OEM, which has previously sourced Smart Eye's software for implementation in several of its earlier car models, has now chosen to extend the technology to an additional vehicle. For this new model, the manufacturer will also expand the range of features provided by Smart Eye's DMS technology.

The new car model including Smart Eye's technology will go into production in 2026. The estimated revenue for the order is SEK 25 million, based on product life cycle volume projections.

Smart Eye has now received a total of 358 design wins from 22 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 8.225 billion. The estimated value over the product lifecycle from possible additional design wins with all 22 vehicle manufacturers is SEK 3.225 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 2024-08-29 14:45 CEST.

Attachments

Smart Eye Announces New Driver Monitoring System Design Win with Major Japanese Car Manufacturer

SOURCE: Smart Eye

View the original press release on accesswire.com

FAQ

What is the value of Smart Eye's new design win with the Japanese car manufacturer?

The estimated revenue for the new design win with the Japanese car manufacturer is SEK 25 million, based on product life cycle volume projections.

When will the new car model with Smart Eye's DMS technology go into production?

The new car model featuring Smart Eye's DMS technology is scheduled to go into production in 2026.

How many design wins has Smart Eye (SMTEF) received in total?

Smart Eye has received a total of 358 design wins from 22 OEMs (Original Equipment Manufacturers).

What is the combined estimated lifetime value of Smart Eye's current design wins?

The combined estimated lifetime value from Smart Eye's current design wins is larger than SEK 8.225 billion.

What is the potential additional value from future design wins for Smart Eye?

The estimated value over the product lifecycle from possible additional design wins with all 22 vehicle manufacturers is SEK 3.225 billion.