Tobii Technology Ab Stock Earnings Reports

Tobii reported Q1 2026 net sales of SEK 164 million (reported -17% YoY) but achieved 5% organic growth when adjusting for currency and nonrecurring items. Group gross margin improved significantly to 84% (up 7 percentage points). Management exceeded its cost-reduction target, achieving SEK 120 million in savings (versus a SEK 100 million target) and free cash flow was positive for the second consecutive quarter (SEK 17 million). Cash at quarter-end was SEK 39 million after repaying deferred COVID-related taxes and a previously used credit facility; a new SEK 25 million revolving facility was agreed post-quarter. Business-unit highlights: Products & Solutions (48% of sales) had organic growth in EMEA/US but reported EBIT -SEK 12m (impacted by FX and timing in China); Integrations (25% of sales) returned EBIT +SEK 5m and secured a strategic design win to embed webcam eye tracking in a premium tablet; Autosense (27% of sales) delivered its highest-ever sales (driven by a DMS licensing agreement) but EBIT was -SEK 21m due to project mix, timing and higher depreciation related to license recognition. Management secured additional strategic design wins that are strategically important though not expected to be immediately material to revenue. Key near-term priorities are improving sales conversion, sustaining cost discipline and addressing the company's near-term financing obligations (debt maturity profile 2027–2029). The Board and management are conducting a strategic review and are engaged in discussions (divestments, partnerships, capital raising among options), but no outcome or timing has been committed. Management cautions there is a risk Tobii may not have sufficient financing for the next 12 months and says addressing this is a top priority.