Welcome to our dedicated page for Smart Eye Aktieb news (Ticker: SMTEF), a resource for investors and traders seeking the latest updates and insights on Smart Eye Aktieb stock.
Smart Eye AB (SMTEF) generates news around Human Insight AI, driver monitoring systems, and interior sensing technologies, with a strong emphasis on automotive safety and in-cabin intelligence. Company announcements often highlight new platform integrations, regulatory-focused driver support systems, and collaborations with semiconductor and software partners.
Recent news has featured Smart Eye’s production-proven driver and occupant monitoring software being pre-integrated on Renesas’ R-Car Gen 5 platform, enabling ASIL-grade in-cabin sensing on centralized automotive compute architectures. Other coverage includes joint demonstrations with Green Hills Software, where Smart Eye’s driver monitoring software runs alongside digital instrument clusters on consolidated ECUs using an ASIL-certified real-time operating system.
Smart Eye also issues updates on its AIS driver support systems for commercial vehicles, such as AIS CV Alert for drowsiness detection and AIS Focus for distraction detection, both designed to help bus and truck manufacturers comply with the EU’s General Safety Regulation and Advanced Driver Distraction Warning mandates. Additional news items describe CES showcases, including real-time alcohol impairment detection, context-aware in-cabin assistants, iris authentication, under-display camera integrations, compact all-in-one DMS units, and concept development kits.
Investors and industry followers can use this news feed to track Smart Eye’s automotive design wins, regulatory-related product launches, credit facility arrangements, and partnerships with OEMs and Tier 1 suppliers. Returning to this page provides an ongoing view of how Smart Eye’s Human Insight AI and driver monitoring technologies are being adopted across vehicle platforms and research and media applications.
Smart Eye has announced the appointment of Mats Benjaminsson as the new Chief Financial Officer (CFO), effective October 1, 2023. Benjaminsson previously served as interim CFO and has a wealth of experience spanning over 30 years, including positions at major companies like Telia and SKF Sverige.
The company anticipates that his leadership will enhance its financial operations as it aims for continued growth, particularly in the Automotive and Behavioral Research sectors. CEO Martin Krantz expressed confidence in Benjaminsson's ability to drive the company forward, emphasizing the positive trajectory currently being pursued.
Smart Eye has announced the resignation of its Chief Financial Officer, Martin Bjuve, effective April 25, 2023. Bjuve held the position since November 2022 and is leaving for a new opportunity. Marina Drazic, the Group Financial Controller, will temporarily assume the CFO responsibilities while a search for a permanent replacement is underway. CEO Martin Krantz commended Bjuve for his contributions and expressed confidence in Drazic's capabilities to manage the company during this transition. The company continues to lead in Human Insight AI, providing advanced technology solutions for automotive safety and behavioral research. Smart Eye, publicly traded since 2016, serves a diverse client base, including major global brands and research institutions.
Smart Eye Aktiebolag has announced its Annual General Meeting (AGM) set for May 2, 2023, in Gothenburg. Shareholders must be recorded by April 21, 2023, to participate, providing notice by April 25, 2023. Key agenda items include the election of board members, including re-elections for Anders Jöfelt and others, and the introduction of a long-term incentive Share Option Programme 2023 for employees. The Board of Directors proposes no dividend, opting to carry forward profits of SEK 1,130,048,185. The company will also seek authorization for new share issues. Further details and documentation can be found on their website.
Smart Eye Reports Strong Growth in Q4 2022
Smart Eye (OTC PINK: SMTEF) achieved net sales of SEK 55.3 million in Q4 2022, a 27% increase from last year. Despite an operating loss of SEK -100.1 million, the company secured a record 194 design wins, with an estimated value of SEK 1.45 billion. The funding process concluded with approximately SEK 324 million raised to support long-term development. Total annual sales reached SEK 219.5 million, representing a remarkable 100% growth. The company projects a cash flow positive state by 2024, targeting a 40% market share in Driver Monitoring Systems. CEO Martin Krantz highlights significant contracts and momentum in automotive growth.
Smart Eye has partnered with Texas Instruments to enhance automotive interior sensing technologies. This collaboration aims to improve driver and passenger safety while enriching the in-cabin experience. Smart Eye's Automotive Interior Sensing AI software, compliant with new safety regulations, will run on TI's AM62A7-Q1 processor, allowing for real-time monitoring of driver distraction and passenger behavior. The solution is built for scalability and efficiency, ensuring cost-effective deployments across vehicle models. Both companies will showcase this innovation at the embedded world Exhibition in Germany from March 14-16, 2023, promising advancements in road safety and user experience.
Smart Eye has secured an order to deliver its advanced Driver Monitoring System (DMS) software to 12 new car models from a leading Korean OEM. This order is projected to generate approximately SEK 350 million in revenue based on the product lifecycle. The first three models are set to begin production in Q4 2023, while the remainder will launch throughout 2024 and early 2025. With this latest achievement, Smart Eye has accumulated 217 design wins from 19 OEMs, bringing the total estimated lifetime value from these contracts to over SEK 4.365 billion.
Smart Eye has secured an order to supply its Driver Monitoring System (DMS) technology for eight new heavy vehicle models from a global commercial vehicle manufacturer, expected to generate SEK 150 million in revenue. This breakthrough marks Smart Eye's entry into the heavy commercial vehicle market, with production slated for 2025 and a significant ramp-up in 2026, coinciding with new EU legislation mandating DMS in all vehicles. Total design wins have increased to 205 from 19 OEMs, with a combined lifetime value over SEK 4.015 billion. CEO Martin Krantz emphasized the importance of this order amid changing regulatory requirements.
Smart Eye has successfully completed a rights issue, raising approximately SEK 324 million. The subscription period ended on February 16, 2023, with 11,277,356 shares (89% of offered shares) subscribed for using subscription rights. Additionally, 9,029,125 shares (71% of offered shares) were requested without rights, leading to about 160% total subscription of the offered shares. Consequently, Smart Eye's share capital will rise to SEK 3,493,749.10, and the share count will increase to 34,937,491. Allotted shares will be registered around February 22, 2023, and trading is anticipated to begin by February 28, 2023.
Smart Eye has been selected to provide its Driver Monitoring System (DMS) software for three additional car models by a leading Japanese car manufacturer, with an estimated revenue of SEK 30 million anticipated over the product lifecycle. The new models are set to begin production in Europe by 2026. Smart Eye has achieved a total of 197 design wins from 18 OEMs, with a combined lifetime value exceeding SEK 3.865 billion. Additionally, potential further design wins may increase this value to SEK 4.045 billion. A prospectus supplement regarding a rights issue will be published following approval from the Swedish Financial Supervisory Authority.
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