Smart Eye Interim Report Q2 January - June 2024
Smart Eye reported strong growth in Q2 2024, with net sales increasing 30% to SEK 89.6 million. The company saw a 31% increase in gross profit to SEK 81.0 million, maintaining a 90% gross margin. While still operating at a loss, Smart Eye reduced its EBITDA loss to SEK -23.2 million from SEK -33.0 million in the same period last year.
The company secured a significant SEK 700 million deal with major automakers for 35 car models after the quarter's end. Smart Eye's Automotive segment grew 66% in Q2, while Behavioral Research increased by 16%. The company expects to reach profitability next year and maintains a strong financial position with SEK 192.3 million in cash and credit facilities.
Smart Eye ha riportato una forte crescita nel secondo trimestre del 2024, con vendite nette aumentate del 30% a 89,6 milioni di SEK. L'azienda ha registrato un aumento del 31% del profitto lordo a 81,0 milioni di SEK, mantenendo un margine lordo del 90%. Anche se continua a operare in perdita, Smart Eye ha ridotto la sua perdita EBITDA a -23,2 milioni di SEK rispetto ai -33,0 milioni di SEK dello stesso periodo dell'anno scorso.
L'azienda ha assicurato un importante accordo di 700 milioni di SEK con importanti case automobilistiche per 35 modelli di auto dopo la fine del trimestre. Il segmento Automotive di Smart Eye è cresciuto del 66% nel secondo trimestre, mentre la Ricerca Comportamentale è aumentata del 16%. L'azienda prevede di raggiungere la redditività il prossimo anno e mantiene una solida posizione finanziaria con 192,3 milioni di SEK in contante e linee di credito.
Smart Eye reportó un fuerte crecimiento en el segundo trimestre de 2024, con ventas netas aumentadas en un 30% a 89,6 millones de SEK. La empresa vio un aumento del 31% en el beneficio bruto a 81,0 millones de SEK, manteniendo un margen bruto del 90%. Aunque aún opera con pérdidas, Smart Eye redujo su pérdida EBITDA a -23,2 millones de SEK desde -33,0 millones de SEK en el mismo período del año pasado.
La compañía aseguró un importante contrato de 700 millones de SEK con grandes fabricantes de automóviles para 35 modelos de coches después de finalizar el trimestre. El segmento Automotriz de Smart Eye creció un 66% en el segundo trimestre, mientras que la Investigación Comportamental aumentó un 16%. La empresa espera alcanzar la rentabilidad el próximo año y mantiene una fuerte posición financiera con 192,3 millones de SEK en efectivo y facilidades de crédito.
스마트 아이는 2024년 2분기에 순매출이 30% 증가하여 8억 9,600만 SEK에 이르렀다고 보고했습니다. 회사는 총 이익이 31% 증가하여 8,100만 SEK에 달했다고 밝혔으며 총 매출 총 이익률이 90%를 유지했습니다. 여전히 적자를 기록하고 있지만, 스마트 아이는 EBITDA 적자를 작년 동일 기간의 -3,300만 SEK에서 -2,320만 SEK로 감소시켰습니다.
이 회사는 분기 종료 후 주요 자동차 제조업체와 35개 자동차 모델에 대해 상당한 7억 SEK 계약을 성사시켰습니다. 스마트 아이의 자동차 부문은 2분기 동안 66% 성장했으며, 행동 연구는 16% 증가했습니다. 이 회사는 내년에 수익성에 도달할 것으로 예상하고 있으며, 1억 9,230만 SEK의 현금 및 신용 시설로 강력한 재무 상태를 유지하고 있습니다.
Smart Eye a rapporté une forte croissance au deuxième trimestre de 2024, avec des ventes nettes augmentées de 30 % à 89,6 millions de SEK. L'entreprise a enregistré une augmentation de 31 % de son bénéfice brut, atteignant 81,0 millions de SEK, tout en maintenant une marge brute de 90 %. Bien qu'elle continue d'opérer à perte, Smart Eye a réduit sa perte EBITDA à -23,2 millions de SEK, contre -33,0 millions de SEK au cours de la même période l'année dernière.
Après la fin du trimestre, l'entreprise a sécurisé un contrat significatif de 700 millions de SEK avec de grands fabricants automobiles pour 35 modèles de voitures. Le segment Automobile de Smart Eye a connu une croissance de 66 % au deuxième trimestre, tandis que la Recherche Comportementale a augmenté de 16 %. L'entreprise s'attend à atteindre la rentabilité l'année prochaine et maintient une solide position financière avec 192,3 millions de SEK en liquidités et en facilités de crédit.
Smart Eye berichtete von einem starken Wachstum im 2. Quartal 2024, mit netto Umsatzsteigerung um 30% auf 89,6 Millionen SEK. Das Unternehmen verzeichnete einen 31%igen Anstieg des Bruttogewinns auf 81,0 Millionen SEK und hielt eine Bruttomarge von 90% aufrecht. Obwohl es weiterhin Verluste macht, konnte Smart Eye seinen EBITDA-Verlust auf -23,2 Millionen SEK von -33,0 Millionen SEK im selben Zeitraum des letzten Jahres reduzieren.
Das Unternehmen sicherte sich nach Quartalsende einen bedeutenden Vertrag über 700 Millionen SEK mit großen Automobilherstellern für 35 Automodelle. Der Automobilsektor von Smart Eye wuchs im 2. Quartal um 66%, während die Verhaltensforschung um 16% zunahm. Das Unternehmen erwartet, nächstes Jahr profitabel zu werden, und hält eine starke finanzielle Position mit 192,3 Millionen SEK in Bargeld und Kreditlinien aufrecht.
- Net sales increased by 30% to SEK 89.6 million in Q2 2024
- Gross profit grew by 31% to SEK 81.0 million, maintaining a 90% gross margin
- Secured a SEK 700 million deal with major automakers for 35 car models
- Automotive segment grew by 66% in Q2
- Behavioral Research segment grew by 16% in Q2
- Increased number of car models in production from 50 to 60
- Company expects to reach profitability next year
- Operating loss of SEK -64.2 million in Q2 2024
- Earnings after tax per share decreased to -1.46 from -1.94 in the previous year
- Slight increase in operating expenses due to sales-related costs and salary increases
GÖTEBORG, SE / ACCESSWIRE / August 21, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Continued growth in the quarter
April - June 2024
Net sales amounted to SEK 89.6 (68.8) million, an increase of
30% compared to the corresponding period the previous year.Gross profit amounted to SEK 81.0 million (62.1), an increase of
31% compared to the corresponding period the previous year. Gross margin amounts to90% (90% ).EBITDA amounted to SEK -23.2 (-33.0) million.
Operating loss amounted to SEK -64.2 (-70.7) million. Depreciation of the surplus value created in conjunction with the Affectiva and iMotions acquisitions amounts to SEK -29.2 (-28.8) million.
Earnings after tax per share are -1.46 (-1.94), and after full dilution -1.46 (-1.94).
Cash and cash equivalents totaled SEK 110.1 million at the end of June. The cash ending balance including credit facilities amounts to SEK 192.3 million.
Strong order intake after the end of the quarter, SEK 700 million deal with Volvo Cars, Audi, Porsche, GM and a new European OEM, for 35 car models with a global Tier-1.
January - June 2024
Net sales amounted to SEK 175.7 (133.2) million, which corresponds to an increase of
32% .Gross profit amounted to SEK 158.3 (116.7) million, an improvement of SEK 41.6 million compared to last year.
Operating loss amounted to SEK -125.7 (-152.6) million. Depreciation of the surplus value created in conjunction with the Affectiva and iMotions acquisitions amounts to SEK -57.6 (-57.0) million.
Profit/loss after financial items amounted to SEK -124.9 (-152.6) million.
Earnings after tax per share are -2.99 (-4.26), and after full dilution -2.99 (-4.26).
Comments from the CEO
The demand for DMS and Interior Sensing is booming. Since the beginning of the year, we have been completely immersed in customer requests for our DMS and Interior Sensing products. We are just starting to see the results of these intense sales activities. An example is the orders we received after the quarter ended from Audi, Porsche, Volvo, GM and one more OEM through a global Tier-1. This is just one of the deals we have been working on, and we expect several more to be made public as we are entering this year's nomination season.
Our short and long-term revenue growth will follow our customers' ramp-up of car production, and we are focusing our efforts on securing future nominations from key customers. Additionally in Behavioral Research, adoption of advanced quantitative methods will further support the structural growth of our research products.
Automotive
Automotive grew with
Behavioral Research
The Behavioral Research business area grew with no less than
Final Words
With a continuous solid profitable growth in Behavioral Research, our outstanding order stock, the current car industry program ramp- up and our 192 MSEK in cash and credit facilities gives us confidence to pursue our market leadership for the future, reach profitability next year and maintain a sound financial situation. The most important KPI:s for our Automotive business are the number of car contracts secured and the speed at which these models enter production. This quarter, we successfully increased the number of car models entered into production from approximately 50 to 60, boosted our license revenue, and continued to outpace our competitors in winning new business.
As Smart Eye's leading position solidifies, we should expect more consolidation within the fragmented market for Tier 2 Interior Sensing. After the dust settles, the companies left standing will be in pole position to invest in two exciting new frontiers; complete cabin monitoring and the measurement of health, wellbeing and fitness to drive. Expect Smart Eye to continue to lead the charge towards new life-saving innovations.
Martin Krantz
CEO Smart Eye
Find the full report and all previous financial reports at https://smarteye.se/investors/financial-reports/ .
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 2024-08-21 08:00 CEST.
Attachments
Smart Eye Interim Report Q2 2024
SOURCE: Smart Eye
View the original press release on accesswire.com
FAQ
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