Tobii Interim Report for the First Quarter 2019

STOCKHOLM, April 26, 2019 /PRNewswire/ -- Tobii AB today reported its results for the first quarter 2019.

Comment by Tobii's CEO Henrik Eskilsson:

"Tobii has had a good start of the year with sales increases in all business units. Overall, sales increased by 34 percent, and 20 percent adjusted for currency, compared with the first quarter of 2018. Sales also grew sequentially despite a strong fourth quarter in 2018. In addition, the operating margin at Tobii Pro remained high at 20% also in this quarter. With continued breakthroughs in new segments and markets, as well as operating costs that have leveled off, I am optimistic about the continuation of the year."

First quarter January-March 2019

• Consolidated net sales rose by 34% to SEK 393 million (294) compared with the first quarter of 2018. Adjusted for currency effects, the increase was 20%.
• The gross margin was 68% (70%).
• The Group's operating loss amounted to SEK -37 million (-37).
• Tobii Dynavox contributed SEK 19 million (14) and Tobii Pro SEK 23 million (15), while investments in Tobii Tech had a negative impact of SEK -80 million (-66) on the Group's operating loss.
• Earnings per share amounted to SEK -0.33 (-0.33).
• The Group is applying IFRS 16 Leasing for the first time, which has had a positive impact of SEK 7 million on consolidated EBITDA and SEK 1 million on consolidated EBIT. Please see the tables on page 16 for more information.

Significant events

• In conjunction with the CES tech show in January Tobii presented its new IS5 eye-tracking platform and Dell launched the Alienware Area 51-m gaming notebook as the first product with integrated IS5.
• Tobii announced a contract with HTC for delivery of eye-tracking technology for the HTC Vive Pro Eye VR headset.
• Tobii issued bonds of SEK 300 million to fund acquisitions.
• British competition authority CMA announced its intention to continue to investigate acquisition of the British company Smartbox Assistive Technology Ltd, in a Phase II investigation. Consequently, it has not been possible to begin integration.
• After the end of the quarter Tobii launched the next generation of Tobii Aware, a software solution that enables more intuitive computers. Shipments of computers with Tobii Aware is expected to begin in the second quarter.

Events after the end of the period