Smart Eye Year-End Report Q4 January - December 2023

GÖTEBORG, SWEDEN / ACCESSWIRE / February 21, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Strong organic growth in both business areas,

October - December 2023

• Net sales amounted to SEK 91.3 (55.3) million, an increase of 65% compared to the corresponding period previous year. Organic growth (adjusted for the new accounting principle implemented in iMotions 2022) sums up to 50%. Both the business area Automotive and Behavioral Research show very high growth in the quarter.
• EBITDA amounted to SEK -27.1 (-60.6) million. The improved result is driven by higher sales and lower OPEX. One-time expenses impact the result negative with 4.8 million, mainly due to social security charges from share incentive programs referring to higher stock market price. This expense does not affect the cash flow.
• Operating loss amounted to SEK -67.1 (-100.1) million. Depreciation of the surplus value created in conjunction with the Affectiva and iMotions acquisitions amounts to SEK 29.5 million.
• Earnings after tax per share are 3.88 (-3.78), and after full dilution 3.75 (-3.78). Earnings after tax is positive due to deferred tax posted in quarter (SEK 209.9 million), which refers to upcoming tax position.
• Cash and cash equivalents totaled SEK 79.7 million at the end of December. The cash ending balance including credit facilities amounts to 161.6 million.
• Strong order intake during the quarter included 77 design wins for DMS and our first Tier 1 contract. Early January 2024 additional 19 design wins were signed. The estimated revenue of the orders amounts to SEK 2,050 million based on estimated product life cycle projections.

January - December 2023

• Net sales amounted to SEK 302.2 (219.5) million, which corresponds to an increase of 38%. Organic growth amounted to 33% (adjusted for the new accounting principle implemented in iMotions 2022) and is driven by Automotive business. Behavioral Research also shows stable growth.
• Operating loss amounted to SEK -282.9 (-343.0) million. The improved operating loss is driven by higher sales and lower OPEX, excluding exchange rate impact, compared to last year. Depreciation of the surplus value created in conjunction with the Affectiva and iMotions acquisitions amounts to SEK 116.3 million. The period was burdened by one-time costs due to the funding process amounting to SEK 2.8 million.
• Profit/loss after financial items amounted to SEK -283.2 (-344.1) million.
• Earnings after tax per share is -2.15 (-12.98), and after full dilution -2.15 (-12.98). Earning after tax has improved due to deferred tax posted in the period.

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