Tobii (TOBII) Q1 2025 earnings summary

Executive summary

• Achieved first-ever positive EBIT in Q1, with net sales up 23% year-over-year and significant profitability and cash flow improvements, driven by all business segments and cost reductions.

• Cost reduction program delivered SEK 166 million in accumulated savings, targeting over SEK 200 million by Q2 2025, with further reductions planned.

• Macro uncertainties, including US academic funding and tariffs, had limited impact but remain under monitoring.

• Strategic divestments and integration of acquired businesses contributed to improved results.

• Profit for the quarter reached SEK 28 million, up from a loss of SEK -87 million in Q1 2024.

Financial highlights

• Net sales grew 23% year-over-year to SEK 198 million, with 5% organic growth and 18% from non-recurring revenue; gross margin improved to 77% from 74% last year.

• EBIT was SEK 12 million (6% margin), up SEK 86 million from last year’s SEK -75 million.

• Free cash flow improved to SEK -14 million from SEK -115 million last year.

• Cash and cash equivalents at period end were SEK 89 million, with an unused SEK 50 million revolving credit facility.

• Equity/assets ratio increased to 38% from 30%; net debt at SEK -321 million.

Outlook and guidance

• On track to meet cost reduction target of SEK 200 million annualized savings by Q2 2025, with additional reductions planned for 2H 2025.

• Expects strengthened cash position in Q2 2025, supported by cost reductions, divestments, and advanced customer orders.

• Targets positive free cash flow and 10% EBIT margin for full-year 2026, and 20% EBIT margin for 2028.

• AutoSense single camera DMS OMS solution expected to enter production in the second half of 2025.