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 a fully secured rights issue aiming to raise approximately SEK 324 million. Shareholders will have preferential rights to subscribe for four new shares at a price of SEK 25.50 per share. The subscription period is from February 2 to February 16, 2023. Notably, existing shareholders and board members have expressed intentions to subscribe for around SEK 38 million and SEK 79 million respectively. The company plans to utilize the proceeds for research and development, ensuring long-term competitiveness, and general operational funding. The record date for subscription rights is January 31, 2023.
Smart Eye (OTC PINK: SMTEF) has announced preliminary results for Q4 2022, revealing net sales of SEK 56 million, a 29% increase compared to the previous year. The Automotive sector contributed SEK 15 million, while Behavioral Research generated SEK 41 million. Despite this growth, EBITDA was negative at SEK -61 million, worsened by one-off costs and workforce reductions aimed at cutting annual personnel expenses by SEK 30 million. Cash flow also fell to SEK -20 million. However, the company secured 100 design wins valued at approximately SEK 1,450 million, pushing total design wins to 194 and an estimated lifetime value of SEK 3,835 million. A rights issue of SEK 325 million is planned to bolster finances.
Smart Eye (STO:SEYE)(OTC PINK:SMTEF) held an Extraordinary General Meeting (EGM) on December 30, 2022, where shareholders authorized the Board of Directors to issue new shares without deviating from shareholders' preferential rights. This authorization aims to facilitate a rights issue previously announced on December 5, 2022. The share price for the new issuance will be determined based on market conditions with standard discounts. The meeting underscores Smart Eye's strategy to enhance its capital structure.
Smart Eye has secured up to 53 new Driver Monitoring System (DMS) design wins from a major North American car manufacturer, with estimated revenue of SEK 800 million based on product lifecycle projections. This order allows Smart Eye to deliver its AI-based DMS to new car models, and is partly in response to upcoming European legislation making DMS mandatory by 2024. The order reinforces Smart Eye's market position in Europe, North America, and China, aiming for a global market share of at least 40% in the long term.
Smart Eye (OTC PINK:SMTEF) has secured 34 new design wins for its Driver Monitoring System (DMS) from three major global car manufacturers, projected to generate revenue of SEK 350 million. This order is significant as it represents the largest number of new car models awarded in the company's history. Production is set to begin in 2025, anticipating a market of 18 million vehicles in Europe by 2026. Smart Eye has achieved a total of 141 design wins with an estimated lifetime value exceeding SEK 3,035 billion.
Smart Eye has secured a significant order from two existing customers to deliver its Driver Monitoring System (DMS) software for four additional car models, estimating revenue of SEK 100 million. The electric midsized sedan and a popular compact crossover SUV will begin production in 2023 and 2024. With a total of 107 design wins across 16 OEMs, the anticipated lifetime value from current design wins exceeds SEK 2,685 million. This growing trend of existing customers expanding their product lines is expected to boost Smart Eye's business in the evolving DMS market.
Smart Eye has announced an extraordinary general meeting scheduled for December 30, 2022. Due to new regulations, the meeting will be conducted via advance voting only, with no option for in-person attendance. Shareholders must be registered by December 21, 2022, and submit their votes by December 29, 2022. Key agenda items include the election of a chairman and authorization for the board to issue new shares. As of the announcement date, Smart Eye has 22,232,951 shares outstanding, and further details will be available on their website.
Smart Eye has secured a key order for its Driver Monitoring System (DMS), AIS, valued at SEK 40 million, from a European luxury sports car manufacturer. This marks a significant breakthrough for Smart Eye, as it signals the first time this customer sources their technology. The AIS system, which utilizes AI-based algorithms, aims to enhance road safety by detecting driver impairment. With a total of 103 design wins across 16 OEMs, the estimated lifetime value of current design wins exceeds SEK 2,585 million.
Smart Eye has secured an order to provide its advanced Driver Monitoring System (DMS) software to a new electric luxury car model from a European premium car manufacturer. The estimated revenue from this order is SEK 10 million, based on product lifecycle projections. This new win adds to Smart Eye's total of 102 design wins across 15 automotive OEMs, contributing to a combined estimated lifetime value exceeding SEK 2,545 million. The new vehicle is set to enter production in the first half of 2024.
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