Smart Eye Receives Three Additional Driver Monitoring System Design Wins with Korean Car Manufacturer
Smart Eye has secured an order from a current customer to provide its advanced Driver Monitoring System (DMS) software for three additional car models, estimated to generate revenue of SEK 50 million.
The models are expected to enter production in the first half of 2023. This follows the successful previous implementation of Smart Eye's DMS in 16 models.
Smart Eye has now achieved a total of 93 design wins from 14 OEMs, with a combined lifetime value exceeding SEK 2,375 million.
- New order for DMS software worth SEK 50 million
- Expansion to three additional car models with an existing customer
- Total of 93 design wins from 14 OEMs creates significant revenue potential
- None.
GÖTEBORG, SWEDEN / ACCESSWIRE / April 19, 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 software to three additional car models. The estimated revenue of the order is SEK 50 million based on estimated product life cycle projections.
Smart Eye, the leading developer of DMS software to the automotive industry, will deliver its AI-based technology to three new car models with a global Korean car manufacturer. The customer has previously chosen Smart Eye's DMS software for implementation in 16 of its earlier car models, and is now extending the technology to several additional models.
The new car models including Smart Eye's technology are estimated to go into production already in the first half of 2023. The estimated revenue for the order is SEK 50 million, based on product life cycle volume projections.
"We are pleased to have yet another customer demonstrating their confidence in our capability to deliver the market leading solution for these critical safety systems", said Martin Krantz, CEO and Founder of Smart Eye. "It is only natural for Smart Eye to keep extending our technology to additional car models with our existing customers. Over the last few years, we have seen how one OEM after another have trusted us to deliver DMS to new car models on existing platforms, and we expect this development to continue in the years to come."
Smart Eye has now received a total of 93 design wins from 14 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,375 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,425 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 2022-04-19 14:20 CEST.
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FAQ
What is the significance of Smart Eye's new order for SEK 50 million?
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