Smart Eye Receives One Additional Driver Monitoring System Design Win with North American Car Manufacturer
Smart Eye has been awarded a new contract to deliver its Driver Monitoring System (DMS) software for an additional luxury sports car model by a North American manufacturer. The order is projected to generate SEK 10 million in revenue based on lifecycle estimates. This comes as Smart Eye has received a total of 94 design wins from 14 OEMs, with a combined estimated lifetime value exceeding SEK 2,385 million. The new model is expected to be in production by 2024, cementing DMS as a standard safety feature even in high-end vehicles.
- New contract for a Driver Monitoring System (DMS) software, increasing revenue by SEK 10 million.
- Total of 94 design wins from 14 OEMs, indicating strong market position.
- Estimated lifetime value from design wins surpasses SEK 2,385 million.
- None.
GÖTEBORG, SWEDEN / ACCESSWIRE / July 13, 2022 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9)
Smart Eye has been selected by an existing customer to deliver its world-leading Driver Monitoring System (DMS) software to one additional car model. The estimated revenue of the order is SEK 10 million based on estimated product life cycle projections.
Gothenburg, Sweden - July 13, 2022 - Smart Eye, the leading developer of DMS software to the automotive industry, will deliver its AI-based technology to one new car model with a global North American car manufacturer. The customer has previously chosen Smart Eye's DMS software for implementation in several of its earlier car models and is now extending the technology to yet another one.
The new car model, which will include Smart Eye's technology, has for decades been an iconic luxury sports car. It is estimated to go into production in 2024 and the estimated revenue for the order is SEK 10 million, based on product life cycle volume projections.
"We are pleased to have yet another customer demonstrating their confidence in our technology by selecting our DMS for one more car model. It shows how easy it is for an OEM to give additional business to a trusted supplier once the high automotive quality standards are met " said Martin Krantz, Founder and CEO of Smart Eye. "DMS is so commonplace that nowadays even luxury sport cars are being equipped with it. It's becoming as common as seat belts and air bags.
Even though this particular design win is for a car model produced in small volumes, it clearly shows that DMS is becoming standard safety functionality in all vehicles, even a luxury sports car."
Smart Eye has now received a total of 94 design wins from 14 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,385 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,415 million.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
Email: anders.lyrheden@smarteye.se
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. Bridging the gap between humans and machines for a safe and sustainable future.
Today, our technology is embedded in next-generation vehicles, leading the way towards human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our Research Instruments offer unparalleled insights into Automotive, Aviation & Aerospace, Assistive Technology, Media & Marketing, Psychology and many more fields. Our subsidiary Affectiva is pioneering Emotion AI, connecting machine logic with human empathy to gain a deeper understanding of how consumers engage with their content, products and services, in automotive, media & entertainment, market research and beyond. Our subsidiary iMotions provides the world's leading biosensor software platform, that synchronizes data streams in real time from multiple sensors.
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: http://www.corp.smarteye.se/en/
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or certifiedadviser@penser.se.
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 2022-07-13 11:30 CEST.
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