Slide 1: Smart Eye Year End Report 2025
FEBRUARY 17, 2026 Smart Eye Year End Report 2025 Martin Krantz, CEO Mats Benjaminsson, CFO
Slide 2: Summary Q4
Summary Q4 Strong sales Net Sales 122M, Organic Growth Improved EBITDA 10 MSEK growth driven by 26% +29 MSEK Automotive Automotive Organic Growth Behavioral Research Organic Growth Continuing FX 69% -1% headwind Car Models Reached Production OEMs reached production Automotive Licenses 125 (105) 15 (
Slide 3: Profitability Q3/Q4
Profitability Q3/Q4 EBITDA Q4 amounts to 10.2 (11.5) -1.3 MSEK • Higher volumes of DMS licenses, AIS portfolio and Multimodal software platform drive Gross Profit • Change in the vacation debt boost Personnel expenses between the quarters, no cash flow effect EBITDA before share program and FX effec
Slide 4: Senior Unsecured Bond
Senior Unsecured Bond 300 MSEK • SEK 300m, with a framework of SEK 600m • Nominal amount SEK 1,250,000 • Tenor 3 years • Coupon Stibor 3m + 700 bps • No dividends ➢ Refinancing of Existing Debt Facilities and for general corporate • Agent Nordic purposes, including transaction costs, investments and
Slide 5: Acquisition of Sightic
Acquisition of Sightic Two business areas: A leapfrog on the DMS market! • Automotive • Industry & Law enforcement Number of Employees 21 Located in Gothenburg Fixed Purchase Price 60.5 MSEK, settled through Consideration Shares Approximately dilution of 1,9% Earn-out of 50 MSEK referring to certain
Slide 6: Clear Market Leader with 370 Design Wins
Clear Market Leader with 370 Design Wins Whereof 10 with Interior Sensing • Automotive design wins SEK 8.8 Whereof 2 with Intoxication bn estimated order value 370 • Upsell potential SEK 5.7 bn • 24 OEMs (23) • 15 OEMs has entered production • Approximately 125 design wins have entered production si
Slide 7: Smart Eye and the Global DMS Market
Smart Eye and the Global DMS Market 24 OEMs | 370 DMS Design Wins | 10 Interior Sensing Design Wins | 2 Intoxication North America Europe Asia 3 OEMs | 126 Design Wins 13 OEMs | 147 Design Wins 8 OEMs | 97 Design Wins Entered production Entered production Entered production 1 OEM | 28 Design Wins
Slide 8: Automotive
Automotive Car models entered production Q4 2025: +20 • More Design wins entered the production in the quarter driven by both European and Asian OEM’s • The roll-out of DMS will accelerate up to the implementation of the regulatory requirement which is July 7th.
Slide 9: DMS Market Development
• TAM Global 2024 amounts to 91 million vehicles DMS Market • TAM Europe 15 million vehicles 2024 (16%) • GSR drives market growth EU, 100% take rate 2027 Development • EU + RoW estimated to be 30% in 2027 (16% EU + 14% RoW) DMS deliveries and take rate 2022-2028 • Smart Eye’s market share 2027 expe
Slide 10: Financial Summary
Financial • Net Sales 122.3 (100.3), growth +22% Y/Y, Organic growth +26% • R12 Net Sales 403.6 (355.0), growth +14% Y/Y, Organic growth +21% Summary • Gross Profit 101.5 (90.2) +11.3 MSEK Y/Y • Gross Margin 82.9% (89.9%) • 2023 2024 2025
Slide 11: Automotive
Automotive Growth +83% Y/Y Organic Growth +69% Y/Y • whereof FX effect amounts to -5.6 MSEK • whereof NRE adjustment last year +6.2 MSEK Growth Rolling 12 months +46% Y/Y, Organic growth +52% Y/Y License revenue increase driven by new and existing car models ramping up in production volumes 2023 202
Slide 12: Behavioral Research
Behavioral Research Growth -12% Y/Y Organic Growth -1% Y/Y • Exchange rate effect amounts to -6.6 MSEK Growth Rolling 12 months -6% Y/Y, Organic growth +2% Y/Y iMotions sales of the multimodal software platform continue with a strong performance in the quarter Research Instrument and Media Analytics
Slide 13: Profitability
Profitability • EBITDA 10.2 (-18.7) MSEK, +28.9 • Improved profitability driven by higher gross profit +11 MSEK and less OPEX +18 MSEK. • OPEX -91 (-109) MSEK • FX effect EBITDA with -5 MSEK • EBIT -31.6 (-63.1) MSEK, +31.5 • Strong improvement, amortization decline • EBT -50.8 (-65.2) MSEK, +14.5 •
Slide 14: Balance Sheet KPI's
Balance sheet KPI's Q4 2025 Available Opening Closing • Senior Unsecured Bond issued in Amount in MSEK cash ending Balance Balance December balance • Credit facility is repaid in Cash ending balance 24,7 134,8 134,8 December Bank overdraft facility 0,0 0,0 31,6 • Total Available cash amounts to Cred
Slide 15: Improving road safety to save lives around the world
Improving road safety to save lives around the world and redefining the mobility experience to enhance comfort, wellness and entertainment smarteye.ai