Tobii (TOBII) Q4 2025 earnings summary

Executive summary

• Q4 2025 net sales were SEK 193 million, down 32% year-over-year, impacted by global economic headwinds and a stronger Swedish krona.

• Significant cost reductions achieved, with SEK 43 million saved in Q4 and SEK 72 million over Q3 and Q4, progressing toward a SEK 100 million target.

• Major non-cash write-offs and fair value adjustments, mainly related to AutoSense, totaled SEK 244 million in goodwill and SEK 67 million in contingent considerations, resulting in a reported EBIT of SEK -196 million.

• Free cash flow improved to SEK 57 million in Q4, supported by a one-time DMS technology licensing deal.

• Strategic review advanced, including asset divestments, cost adjustments, and a new CEO appointment effective January 2026.

Financial highlights

• Q4 revenue was SEK 193 million, with a negative currency impact of SEK 17 million and a 32% year-over-year decline.

• Q4 EBIT was SEK -196 million, including SEK 244 million in goodwill write-offs and SEK 67 million in fair value adjustments; underlying EBIT was SEK -1 million.

• Q4 gross margin was 78%, down from 84% last year; full-year gross margin was 80%.

• Free cash flow improved to SEK 57 million in Q4 and SEK 85 million for the year.

• Cash and cash equivalents at year-end were SEK 117 million; SEK 47 million of the SEK 50 million credit facility was utilized.

Outlook and guidance

• No specific financial outlook for 2026; previous targets withdrawn, with new targets to be communicated after further review.

• Focus remains on achieving sustainable positive cash flow and value-creating growth, with confidence in reaching the SEK 100 million cost reduction goal by Q2 2026.

• DMS licensing agreement expected to strengthen liquidity in H1 2026.