Tobii DMS has been awarded its first design win
Press release
Stockholm, April 27, 2023
Tobii has been selected by the world’s largest automotive Tier-1 supplier based in Germany to deliver its software for driver monitoring systems (DMS). This is Tobii´s first design win and an important milestone in the company’s journey to become a leader in the automotive DMS industry.
This design win is with a commercial vehicle manufacturer with multiple brands headquartered in Europe for 25 heavy vehicle models. Tobii is expected to receive license revenues starting in 2025.
“This design win is a proof point that Tobii DMS meets the stringent requirements of the automotive industry. We entered the DMS market with a unique position as the world leader in eye tracking and knew we could create a state-of-the-art solution. This deal proves we have reached the point where our DMS software is highly competitive and can succeed in establishing Tobii as a leading partner for OEMs,” said Anand Srivatsa, Tobii CEO. “We believe that attention computing will improve the world, and the adoption of technologies like DMS, it is a clear example of this by helping to make our roads safer.”
The automotive DMS software industry is expected to be a multi-hundred million dollars a year market over the next decade as DMS becomes a mandated safety requirement around the world. With world-leading eye tracking and attention computing domain expertise, Tobii has a set of core assets that give it a unique position in the DMS industry. Tobii´s aim is to attain a market-leading position. This adds another significant market area for our core technologies and demonstrates our ability to efficiently leverage investments across verticals.
To learn more about our DMS offering, visit https://www.tobii.com/products/automotive/tobii-dms.
The automotive industry is rapidly changing due to the ongoing technology shift, disruption from new entrants, and accelerated innovation pace. This is also causing a changing purchasing behavior from OEMs. Design wins in the automotive industry are not a guarantee of future revenue, and sales may not correlate with design win values. Mid-life redesigns and decisions to re-source components can change the projected timeline of a design, or models may be canceled entirely. Pricing estimates are made at the time of a request for quotation by an OEM. Changing market or other conditions between the time of a request for quotation and the actual order may require a lower average selling price than initially expected. In combination with inherently long lead times in the industry, forward-looking projections of lifetime value, volumes, and average selling price may give rise to undue reliance and overconfidence in the earnings potential and value of each deal. As a result, Tobii does not believe it is possible to, with a sufficiently high degree of certainty, provide guidance on the revenue or potential future opportunities with manufacturers.
Tobii AB (publ) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on April 27, 2023, at 7:00 p.m. CET.
Contact
Joel Karlsson, Interim Head of Communications, Tobii AB, phone: +46 (0)70 481 72 34, email: joel.karlsson@tobii.com
Henrik Mawby, Head of Investor Relations, Tobii AB, phone: +44 (0)74 94 074 006, email: henrik.mawby@tobii.com
About Tobii
Tobii is the global leader in eye tracking and pioneer of attention computing. We are on a mission to improve the world with technology that understands human attention and intent. Creating tech for a better future, our technologies and solutions apply to areas such as behavioral studies and research, healthcare, education and training, gaming, extended reality (VR, AR & MR), automotive, and many more. Tobii's eye tracking is used by thousands of enterprises, universities, and research institutes around the globe. Headquartered in Sweden, Tobii is listed on Nasdaq Stockholm (TOBII). For more information: www.tobii.com.