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Smart Eye receives five more design wins from an existing customer

Smart Eye has been awarded five more design wins from an existing customer. It is for additional car models on the same platform where two design wins have already been awarded. The European premium car manufacturer will launch these additional five car models with driver monitoring systems in 2018 and 2019.

The order value is estimated to exceed 200 MSEK for the five car models based on product life cycle volume projections. A successful migration of the initial seven cars to subsequent car models for the same platform may lead to a total estimated revenue exceeding 500 MSEK over the product life cycles. This potential scenario is contingent on future design wins with the aforementioned OEM. The combined estimated order value of all 23 car models Smart Eye so far has been awarded design wins for exceeds 675 MSEK over the product life cycles. 

"This new success once again confirms Smart Eye’s position as the leading provider of eye-tracking technology for driver monitoring systems. Even though these orders were anticipated, this reinforces and confirms our business model. It clearly shows the potential of gaining more business with the same OEM once we already have design wins for earlier models. It’s also worth noting that these cars will be launched soon, during this year and the next. The future looks bright for Driver Monitoring” says Martin Krantz, CEO of Smart Eye AB.

Altogether, Smart Eye has received a total of 23 auto industry design wins with five OEMs. These multiple design wins firmly establish Smart Eye as the industry-leading developer of driver monitoring technology. Further international procurements are currently ongoing, with various global vehicle manufacturers establishing supplier relationships for both the first- and second- generation driver monitoring systems. Smart Eye is well positioned to achieve further successes in these processes.

For more information
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98

Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95

About Smart Eye
Bridging the gap between man and machine since 1999. Smart Eye develops artificial intelligence (AI) powered eye tracking technology that understands, assists and predicts human intentions and actions. By studying a person’s eye, face and head movements, our technology can draw conclusions about an individual’s alertness, attention, focus and gain insights into a person’s awareness and mental status.

Today, our eye tracking technology is embedded in the next generation of vehicles, helping the automotive industry take another step towards safer and more eco-friendly transportation. Our research instruments offer unparalleled performance in complex, real-world situations, paving the way for new insights in aerospace, aviation, psychology, neuroscience, medical and clinical research.

Smart Eye is headquarted in Gothenburg, Sweden and has offices in Michigan, USA, Tokyo, Japan and Chongqing, China, as well as having partners, resellers and distributors in Europe, USA and APAC. Its solutions are used by more than 700 clients all over the world by leading research groups, brands and labs such as US Air Force, Nasa, BMW, Lockheed Martin, Audi, Boeing, Volvo, GM, and many more. 

Smart Eye is listed on First North. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000. 

This information is information that Smart Eye AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at August 24th, 2018 at 08:30 CET.