Smart Eye Announces Nine New Driver Monitoring System Design Wins

Rhea-AI Summary

Smart Eye (SEYE) Secures SEK 150 Million Order for DMS Software for Nine New Car Models. CEO Martin Krantz Emphasizes Commitment to Road Safety and Industry Leadership.

GÖTEBORG, SE / ACCESSWIRE / December 01, 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 nine additional car models. The estimated revenue of the order is SEK 150 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 nine new car models by an existing automotive manufacturing corporation customer. The order comprises several OEM brands in a European-American automotive alliance, which constitutes one of the largest vehicle producers in the world.

The new car models, including Smart Eye's technology, will go into production in 2025. The estimated revenue for the order is SEK 150 million, based on product life cycle volume projections.

"In response to the European Union's mandate for driver monitoring systems in all new vehicles by 2026, routinely securing new design wins has become part of our standard practice," said Martin Krantz, CEO and Founder of Smart Eye. "This latest order, while not unexpected, underscores our steadfast dedication to improving road safety. We are not just keeping pace with industry demands; we are setting the benchmark for DMS technology."

Smart Eye has now received a total of up to 238 design wins from 20 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 5.015 billion. The estimated value over the product lifecycle from possible additional design wins with these car manufacturers is SEK 200 million.

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 2023-12-01 13:30 CET.

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Smart Eye Announces Nine New Driver Monitoring System Design Wins

SOURCE: Smart Eye

View source version on accesswire.com:
https://www.accesswire.com/812221/smart-eye-announces-nine-new-driver-monitoring-system-design-wins

FAQ

What is the latest order secured by Smart Eye (SEYE)?

Smart Eye has secured an order to deliver its Driver Monitoring System (DMS) software to nine new car models, with an estimated revenue of SEK 150 million.

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

The combined estimated lifetime value from current design wins is now larger than SEK 5.015 billion.

How many design wins has Smart Eye (SEYE) received from OEMs?

Smart Eye has received a total of up to 238 design wins from 20 OEMs.

What is the response to the European Union's mandate for driver monitoring systems in new vehicles by 2026?

Smart Eye CEO Martin Krantz emphasized the company's dedication to improving road safety and setting the benchmark for DMS technology in response to the mandate.

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

The new car models, including Smart Eye's technology, will go into production in 2025.