STOCKHOLM, Oct. 24, 2019 /PRNewswire/ -- Tobii AB (publ)
today announced its interim report for the third quarter of
2019
Comment by Tobii's CEO Henrik
Eskilsson:
"Substantial profitability improvements in Tobii Dynavox and
Tobii Pro.
Revenues in the quarter increased by 15 percent, or 8 percent
adjusted for currency effects, compared with the third quarter of
2018. Operating margins in Tobii Dynavox and Tobii Pro increased substantially to 14 percent
and 13 percent, respectively, while external revenues in Tobii Tech
doubled. We also launched two important new products that lay the
foundation for continued profitable growth for a long time to
come."
Third quarter July-September
2019
- The Group's revenues rose by 15% to SEK 359 million (313) compared with the third
quarter of 2018. Adjusted for currency effects, the increase was
8%.
- The gross margin was 69% (71%).
- The Group's operating loss amounted to SEK -32 million (-60). Tobii Dynavox contributed
SEK 30 million (18) and Tobii Pro
SEK 13 million (4) to earnings, while
investments in Tobii Tech had an impact of SEK -73 million (-82) on the Group's operating
loss
- Earnings per share amounted to SEK
-0.32 (-0.70)
- Beginning with this report, earnings related to Smartbox are
recognized as "Net profit/loss for the period from discontinued
operations", with no effect on operating profit or loss at the
Group or Division level. Comparative periods are recognized in a
similar way. All Smart-box-related balance sheet items are
recognized beginning on Sept. 30,
2019 as "Held for sale assets" or "Liabilities directly
related to assets held for sale".
Significant events
- Dell's eye tracking equipped Alienware m15 and m17 gaming
laptops began to be sold in volume during the quarter and were the
driver for the doubled external revenues within Tobii Tech.
- At the Siggraph conference for computer graphics, Tobii Tech
presented its Spotlight technology, which optimizes the ability to
process graphics in high detail only where the user is
looking.
- The British Competition and Markets Authority (CMA) required
Tobii to divest Smartbox, which Tobii acquired autumn 2018. Tobii
appealed the decision.
Significant events after the end of the period
- Tobii Dynavox launched the new I-Series, the division's
medical-grade and eye-controlled flagship product.
- Tobii Pro launched Tobii Pro
Fusion, a new portable high-performance eye tracker for
research.
Comments from the CEO
Revenues in the quarter increased by 15 percent, or 8 percent
adjusted for currency effects, compared with the third quarter of
2018. Operating margins in Tobii Dynavox and Tobii Pro increased substantially to 14 percent
and 13 percent, respectively, while external revenues in Tobii Tech
doubled. We also launched two important new products that lay the
foundation for continued profitable growth for a long time to
come.
Tobii Dynavox delivered a strongly improved EBIT
margin of 14 percent in the third quarter.
A few days ago, we launched a completely new generation of the
I-Series, the division's medical-grade and eye-controlled flagship
product. The I-Series accounts for half of Tobii Dynavox's total
sales and the launch of the new I-Series is therefore extremely
important for both the division and for the Group as a whole. The
new I-Series has been redesigned from ground up and contains a
number of innovations that make it the most easy-to-use, durable
and advanced product of its kind on the market. The launch lays the
foundation for continued strong and profitable growth in the
division for a long time to come. Revenues growth for the quarter
was 6 percent. Adjusted for currency effects, however, revenues
were in line with the previous year, which can mainly be attributed
to lower sales of the old I-Series in conjunction with the
transition to the new product. The British Competition and Markets
Authority (CMA) has required us to divest Smartbox and we have
therefore initiated a sale of the business, but we also appealed
the decision. Beginning with this quarter, Smartbox is reported
separately and does not affect the operating income of either Tobii
Group or Tobii Dynavox. The comparative quarters have been adjusted
in a similar way.
Tobii Pro also posted a
strong improvement in operating profit for the quarter. The EBIT
margin was 13 percent and revenues rose by 18 percent, or 10
percent after adjustment for currency effects.
After the end of the quarter, Tobii
Pro launched its new portable high-performance eye tracker
for research, Tobii Pro Fusion. The product makes it easier for
researchers to go outside the lab to carry out studies in natural
environments in fields such as behavioral science, psychology,
neuroscience and medicine. Together, the analytics software
Tobii Pro Lab, the recently launched
entry-level model Tobii Pro Nano,
the new Tobii Pro Fusion, the top of the line Tobii Pro Spectrum
and Tobii Pro Glasses 2 comprise a broad and industry leading
portfolio of portable, stationary and mobile eye-tracking solutions
for studies of human behavior.
In Tobii Tech, revenues to external customers increased
by 101%, or 86% after adjustment for currency effects. The
corresponding increases for total revenues were 44 percent and 33
percent, respectively. This quarter, it was mainly the PC segment
and sales of Dell's Alienware m15 and m17 laptops that contributed
to revenue growth, while revenues within the Niche application
segment and project-related revenue in VR were lower than usual.
Internal revenues declined, primarily because of the ongoing
product transition to the new I-Series. Tobii Tech presented its
Spotlight technology at the Siggraph conference in late July, where
we held a panel discussion on the technology together with nVidia
and HTC. Spotlight optimizes the ability to process the graphics in
high detail only where the user is looking, which makes it possible
to maximize graphics performance in Virtual Reality. This is known
as "Foveated Rendering" and is one of the main reasons why eye
tracking is on the way to becoming a standard in the field. We are
as previously communicated, involved in integration projects with a
handful of customers in VR and during the quarter we took important
steps forward both in ongoing projects and new collaborations.
All in all, we achieved strongly improved
profitability in both Tobii Pro and
Tobii Dynavox, combined with a substantial increase in external
revenues in Tobii Tech. We also carried out two key product
launches that will lay the foundation for continued strong and
profitable growth for many years to come.
Conference call
Today at 1:00 p.m. CEST, Tobii
will host a conference call with web cast presentation for media,
analyst and investors. Please find dial-in details on Tobii's
website under Calendar.
This report has been subject to limited review by the
Company's auditors.
This is a translation of the Swedish original. In case of any
inconsistency between the Swedish and English version, the Swedish
version shall prevail.
This information is inside information that Tobii AB (publ)
is obliged to make public pursuant to the EU Market Abuse
Regulation. The information was submitted for publication, through
the agency of the contact person set out below, at 07.30 CET on
Oct 24, 2019.
Contact
Ola Elmeland, Investor Relations, Tobii AB, tel:
+46(0)734-409-862, e-mail: ola.elmeland@tobii.com
About Tobii
Tobii is the global leader in eye tracking. Our vision is a
world where all technology works in harmony with natural human
behavior. Tobii operates through three business units: Tobii
Dynavox makes specially designed computers that are controlled
by eye movement or touch screens for use by people with special
needs due to spinal cord injuries, CP, ALS or other medical
conditions. Tobii Pro develops and sells eye-tracking
equipment and services used today by more than 3,500 companies and
2,500 research institutions, including all of the world's 50
highest ranked universities. Tobii Tech further develops
Tobii's technology for new volume markets, such as computer games,
personal computers, virtual reality, augmented reality and
smartphones. Tobii is headquartered in Sweden and is listed on Nasdaq Stockholm
(TOBII). The group has about 1,000 employees. For more information:
www.tobii.com.
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The following files are available for download:
https://mb.cision.com/Main/2874/2939870/1128597.pdf
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Tobii AB Interim
Report Q3 2019
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https://mb.cision.com/Public/2874/2939870/97413075ae6472b3.pdf
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Tobii Interim Report
for the Third Quarter 2019 - press release - Oct 24 2019
|