Tobii Interim Report for the First Quarter 2021 - Seite 3

Tobii Tech's business activity continued to strengthen after a downturn during the pandemic. During the quarter, we received six new design wins, existing customer projects have made good progress and several new engagements have been added. External revenue increased by 4 percent organically, while total revenue was 1 percent lower organically, mainly due to the supply chain disruptions for Tobii Dynavox. Tobii Tech continued to improve its operating result during the quarter at a good pace to SEK -40 million, from SEK -61 in the first quarter of 2020.

Twenty years of development have built a solid foundation and world-leading positions

Since Tobii was founded 20 years ago, we have been a driving force behind the development of eye tracking technology and applications. Our vision at the start was "An eye tracker in every computer". However, neither the technology nor the world was ready for mass market adoption 20 years ago. We therefore focused on applications and markets where the technology at the time could deliver high value. In recent years, eye tracking has matured – both as a technology and how it is used in different applications. We have therefore accelerated our investment in realizing our original vision, which has evolved to include a wide range of intelligent devices.

Thanks to these investments, we have positioned Tobii as a clear world leader in the core eye tracking technology, and in the market segments in which we operate. Today, the technology enables new innovative solutions, higher performance, transformative experiences and valuable insights across a wide range of industries and application areas. The kettle is boiling with new applications enabled by eye tracking as a core technology. Many of the verticals that were still far away just a few years ago are now much closer to large-scale commercialization.

The time is right for the next step in Tobii's development

Following the past few years solid development and a positive outlook, the time is now right to start the process of splitting Tobii into two companies – Tobii Dynavox and Tobii. This move is a natural step in Tobii's evolution and I am very optimistic about the effects of creating two stand-alone companies, each with a greater focus on its respective mission, with organizations that are even more agile and able to pursue their strategies with greater vigor. Two clean-cut, differentiated and strong investment alternatives are formed, that are easy to understand and appreciate for investors. Both companies are well positioned as world leaders in attractive markets, with good prospects to drive strong growth for a long time to come.