Tobii (TOBII) Q2 2025 earnings summary

Executive summary

• Net sales rose 41% year-over-year in Q2 2025 to SEK 284 million, with organic growth of 54%, driven by a major volume order in Integrations and a new contract with Dynavox Group.

• EBIT improved to SEK 24 million from SEK -66 million, including a SEK 48 million write-down of intangible assets and significant operational savings.

• Free cash flow turned positive at SEK 71 million, up SEK 192 million year-over-year, reflecting cost savings and reduced R&D investments.

• Cost reduction program delivered SEK 263 million in operational savings, exceeding the original SEK 200 million target.

• Launched Glasses X, a cloud-native wearable eye tracker, and achieved EU homologation for the single-camera DMS/OMS solution, strengthening product offerings and market credibility.

Financial highlights

• Q2 gross margin increased to 83% from 79% year-over-year, mainly due to product mix changes.

• EBIT improved by SEK 90 million to SEK 24 million, with a one-time SEK 48 million intangible asset write-down.

• Profit for Q2 was SEK 4 million, up from a loss of SEK 78 million; EPS improved to SEK 0.02 from -0.33.

• Cash and cash equivalents at period end were SEK 150 million, with net debt at SEK 242 million.

• For H1 2025, net sales grew 33% to SEK 482 million, with organic growth of 32%.

Outlook and guidance

• Management expects continued quarter-to-quarter variation in results but remains committed to sustained improvement and long-term profitability.

• Focus remains on profitability, financial strength, and strengthening product offerings.

• Financial targets include positive free cash flow and a 10% EBIT margin for full-year 2026, and 20% EBIT margin for 2028.