Tobii Ab · OMXSTO:TOBII
Tobii Ab — Q2 2024 Earnings Presentation
20 slides from Tobii Ab's earnings presentation, Jul 19, 2024
Slide 1: Earnings call presentation
Earnings call presentation 19 July 2024
Slide 2: Q2 2024 in brief
Q2 2024 in brief • Comprehensive cost reduction measures initiated • Significant progress of Autosense integration • New DMS design win for commercial vehicles and expansion of existing OMS design win to new OEM • Net sales growth but decline in organic business • Launch of 3 software solutions stre
Slide 3: Overview of our business segments
Overview of our business segments Net sales share YTD 2024 Application areas Example customers • Advanced research Universities, Research institutes, Products 61% • Actionable insights Government labs, Market research & Solutions • Gaming agencies, UX research agencies, Enterprises and consumers • A
Slide 4: Financial development
Financial development Tobii Q2 2024
Slide 5: Q2 financials overview
Q2 financials overview Net sales growth but continued soft Products & Solutions 8% -16% -66 Group net sales Organic net sales EBIT, SEKm growth growth 5 Tobii Q2 2024
Slide 6: Group financial development
Group financial development Net sales (SEKm) and Gross margin (%) EBIT (SEKm) and EBIT margin (%) 262 9 255 3% -6% 201 176 185 -20% 167 168 161 -26% 150 -30% -32% - 14 -33% 79% 74% 78% 77% 75% 74% 74% 79% -46% -46% 73% - 36 - 50 - 48 - 53 - 69 - 66 - 75 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 7: Products & Solutions segment
Products & Solutions segment Net sales (SEKm) and Gross margin (%) 54% -15% -26 161 173 Share of net sales Organic growth EBIT, SEKm 138 127 121 112 109 92 94 • Organic net sales growth of -15% in Q2 and YTD • Continued weaker demand in Asia 68% 72% 68% 71% 68% 68% 67% 64% 66% • Tough comparison qua
Slide 8: Integrations segment
Integrations segment Net sales (SEKm) and Gross margin (%) 42% -16% 21 101 Share of net sales Organic growth EBIT, SEKm 84 81 75 • Net sales increased by 52% to SEK 84 million (55) in Q2, and by 48% to SEK 127m (86) YTD 55 55 53 • Net sales from acquisition of FotoNation/ Autosense, 43 expected to d
Slide 9: Autosense segment
Autosense segment Net sales (SEKm) and Gross margin (%) 4% -60 9 Share of net sales EBIT, SEKm 7 97% 97% 99% 95% 91% 83% • Net sales of SEK 9m in Q2 and SEK 15m YTD • Gross margin of 91% (97) in Q2 impacted of higher 3 cost of goods and services sold, and 95% (94) YTD 2 2 • High gross margin reflect
Slide 10: Balance sheet and cash flow
Balance sheet and cash flow Balance sheet and cash flow summary • Free cash flow (after continuous investments) of SEK -125m (-67) in Q2 (SEKm) Q2 2024 Q2 2023 – Change in working capital of SEK 5m (-3) in Q2 Equity 677 677 • Cash and cash equivalents of SEK 244m (360) Equity/assets ratio, % 34 54 •
Slide 11: Cost and operational efficiency
Cost and operational efficiency Tobii Q2 2024
Slide 12: Execution of expanded cost reduction program
Execution of expanded cost reduction program Securing operations within existing cash resources across Tobii Optimization of Increased efficiency and Realizing Autosense product portfolio streamlined operations across and acquisition synergies investments regions and functions Reduce cash-related op
Slide 13: Financial targets aligned with profitability commitment
Financial targets aligned with profitability commitment Positive EBIT margin EBIT margin free cash flow ~10% ~20% 2026 2026 2028 13 Tobii Q2 2024
Slide 14: Autosense overview
Autosense overview Tobii Q2 2024
Slide 15: Growing demand for in-vehicle safety and comfort
Growing demand for in-vehicle safety and comfort Evolution of automotive interior sensing Driver Monitoring Systems (DMS) Occupant Monitoring Systems (OMS) Single-camera DMS + OMS (SCDO) • Shipping since 2006 • Shipping since 2021 • Expected to ship in 2025 • Safety focused • Convenience and comfort
Slide 16: Tobii has credibility across all three domains
Tobii has credibility across all three domains Tobii Autosense overview Driver Monitoring Systems (DMS) Occupant Monitoring Systems (OMS) Single-camera DMS + OMS (SCDO) 300 000 250 000 250 000 • Expected to ship in 2025 200 000 200 000 • Delivers DMS+OMS features 150 000 150 000 • Adoption driven by
Slide 17: Top-three player today, poised to be a leader tomorrow
Top-three player today, poised to be a leader tomorrow 9 ~500,000 120+ Total number of OEM OMS+DMS on the Models included customers (brands) road since 2019 in OEM programs 17 Tobii Q2 2024
Slide 18: Summary and outlook
Summary and outlook • Continued focus on integration of Autosense strengthening our path to leadership • Critical cost reduction actions initiated to securing operations within existing cash resources • Significant EBIT improvement expected for full year 2024 18 Tobii Q2 2024
Slide 19: Q&A
QaA tobi
Slide 20: Q3 report released on 25 October, 2024
Q3 report released on 25 October, 2024 If you have question, please contact: ir@tobii.com https://corporate.tobii.com/investors