Smart Eye AB (publ) (SEYE) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day everybody and a warm welcome to SmartEyes Q1 2025 earnings call hosted by RedEye. My name is Jacob Benon and I will be your host today and we will do as usual to start with the company presentation and thereafter we will follow up with the Q&A session with the company representatives. And with us today we have Martin Krantz, which is CEO of SmartEye and CFO Mats Benaminsson. So without further ado, I will leave the word over to Martin and Mats. So kick it off. Thank you, Jacob. Let's jump right into the presentation. Here are the highlights. The savings program is on track and we are delivering on a yearly basis 40 million SEK, i.e. 10 million per quarter. And that will be completely in line with that goal in Q2. And already in Q1, we have come a long way towards that goal. We have increased the number of car models. It used to be 75 at the end of last quarter. Now it's 85. So 10 new car models. Very great. We have two new OEMs that went into production. So now 12 out of the 23 OEMs are in production. Some of them are like in early days ramp up, not very high volumes, but some of them are actually quite good in volume. Their license revenues are growing well above 100% in line with our expectations of course. So all in all automotive is growing with 27% organically. We are, unfortunately, we have had seen some, let's call it North American or US effect on behavioral research. So we have seen several delays in procurements for research equipment in different labs and universities and research institutes, primarily in North America. The other regions went reasonably okay. So there we have a pullback of 5%. The EBITDA is improving to minus 18 from minus 25 before. We go to the next slide. This is just to show how our number of design wins have been growing over...