Smart Eye Announces Three New Driver Monitoring System Design Wins
Smart Eye has been selected to provide its Driver Monitoring System (DMS) software for three additional car models by a leading Japanese car manufacturer, with an estimated revenue of SEK 30 million anticipated over the product lifecycle. The new models are set to begin production in Europe by 2026. Smart Eye has achieved a total of 197 design wins from 18 OEMs, with a combined lifetime value exceeding SEK 3.865 billion. Additionally, potential further design wins may increase this value to SEK 4.045 billion. A prospectus supplement regarding a rights issue will be published following approval from the Swedish Financial Supervisory Authority.
- Secured an order for DMS software with potential revenue of SEK 30 million.
- Total of 197 design wins achieved from 18 OEMs, increasing revenue potential.
- Estimated lifetime value from current design wins exceeds SEK 3.865 billion.
- None.
GÖTEBORG, SWEDEN / ACCESSWIRE / January 30, 2023 / 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 three additional car models. The estimated revenue of the order is SEK 30 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 three new car models by a major Japanese car manufacturer. The customer has previously chosen Smart Eye's software for implementation in several of its earlier car models.
The new car models including Smart Eye's technology are expected to go into production in Europe in 2026. The estimated revenue for the order is SEK 30 million, based on product life cycle volume projections.
"These additional car models are as welcome as they are expected," said Martin Krantz, CEO and Founder of Smart Eye. "This Japanese OEM is ramping up production of its first car models with DMS and that's usually when we get additional design wins on existing car platforms. More of this kind of add-on volume should be anticipated."
Smart Eye has now received a total of up to 197 design wins from 18 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 3.865 billion. The estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is SEK 4.045 billion.
Smart Eye will due to this information prepare and publish a supplement to the prospectus that was published earlier today regarding the Company's rights issue. The supplement will be published as soon as it has been approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) (the "SFSA").
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 2023-01-30 15:30 CET.
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Smart Eye Announces Three New Driver Monitoring System Design Wins
SOURCE: Smart Eye
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