Interim report second quarter 2026: Decisiveness in a challenging situation
Second quarter 2026
• Net sales amounted to SEK 154 million (284) with an organic growth of -39%. Adjusted for the effects of pre-purchase agreement and non-recurring revenues in the comparative quarter, the growth was 7%
• Gross margin was 82% (83%)
• Operating result (EBIT) amounted to SEK 15 million (24). The result includes non-cash amortization and depreciation of SEK 49 million (27) and write-offs of SEK 2 million (48), as well as a fair value adjustment of contingent considerations of SEK 51 million (0).
• Profit/loss amounted to SEK -5 million (4)
• Earnings per share amounted to SEK -0.02 (0.02)
• Free cash flow decreased to SEK -10 million (71)
• The cost reduction program initiated in the third quarter 2025, has resulted in cost savings of SEK 43 million during the quarter, and in total SEK 163 million over four quarters
Significant events during and after the end of the quarter
• During the quarter, Tobii Nexus reached its first consumer product with Lenovo’s launch of the Legion Y900 13 tablet
• Launch of Webcam eye tracking for research, enabling remote eye tracking studies using standard webcams
• In Autosense a new design win was secured with a premium sports car manufacturer, and a current design win for commercial vehicles was expanded
• An agreement regarding a credit facility of SEK 25 million was reached with the company’s bank during the quarter
CEO Fadi Pharaon comments:
“Market conditions remained challenging in the second quarter, and we continue to act decisively to reach positive operating cash flow during 2027. Our cost savings program has delivered above target, and we are now taking further measures to strengthen the financial profile of the Autosense business area. With the savings achieved, sharper product prioritization, and the measures within Autosense, we are laying a solid foundation for the future. Tobii continues to conduct a strategic review, which includes, among other things, discussions with external parties.
Financial results
Net sales amounted to SEK 154 million (284), Adjusted for a pre-purchase deal to Dynavox and one-off income in the comparison quarter, revenue growth was 7 percent.
Products & Solutions net sales amounted to SEK 76 million (93). The change was mainly driven by China's new five-year plan, which has led to a temporary delay in procurement. Net sales were also affected by weakness in Japan and longer contract negotiations in the US. In EMEA, revenue grew organically by 10 percent.
Integration net sales amounted to SEK 37 million (178). The prior-year quarter was heavily impacted by Dynavox's prepayment and one-off revenue, which explains the majority of the change.
Autosense net sales increased to SEK 40 million (12), driven by the previously announced driver monitoring licensing agreement with a major automotive supplier.
Operating profit (EBIT) amounted to SEK 15 million (24) and included a change in value of contingent consideration of SEK 51 million. Underlying earnings were negatively affected by lower net sales and increased amortization of development costs within Autosense. The cost savings program initiated in the third quarter of 2025 has delivered total savings of SEK 163 million, of which SEK 43 million in the second quarter, well above the target of SEK 100 million. Cost efficiency remains a top priority going forward.
Autosense measures
To strengthen Autosense's profitability, we have decided on measures expected to further reduce the annual cost base by just over SEK 50 million, while also creating more routes to market through a broader commercial model. To date, Autosense has mainly delivered complete, production-ready software solutions to automotive manufacturers, and we continue to pursue new opportunities where terms and expected returns are attractive. The offering now also includes licensing of software components and technology platforms, as well as support for customers who want greater control over integration and further development themselves. This enables earlier revenue generation and a more balanced distribution of investment and commercial risk between Tobii and the customer.
As part of Tobii's strategic review, we are considering various types of partnerships for Autosense, which could, for example, grow the business through complementary technology, provide stronger access to customers and markets, and increased scale. Overall, the changes aim to build a more focused, flexible, and financially sustainable Autosense.
Financial position
Cash and cash equivalents amounted to SEK 37 million at the end of the quarter. Free cash flow was SEK -10 million for the quarter and SEK 35 million in the last 12-month period. At the start of the quarter, the company entered into a credit facility with its bank of SEK 25 million, of which SEK 14 million had been utilized at the end of the quarter.
The Board and management continue to act forcefully to address the strained liquidity situation. The ongoing strategic review has led to continued discussions with external parties including evaluation of various structural or transactional alternatives, such as business divestments, partnerships, or capital raising. These discussions are ongoing, and there is no guarantee that this will result in any transaction, decision, or other action.
Commercial and technical progress
Tobii Nexus, our software that enables eye tracking using standard webcams, reached its first consumer product during the quarter when Lenovo launched the Legion Y900 13 tablet. We also launched Webcam Eye Tracking for Research, which enables eye-tracking studies to be conducted remotely and at greater scale using standard webcams.
Autosense secured a new driver monitoring program with a European manufacturer of premium sports cars, with production start in 2026. At the same time, an existing design win for commercial vehicles was expanded through the transfer of the program to a Qualcomm-based platform, with production start in 2028.
Outlook
Market conditions remain volatile, with regional uncertainty, while we expect a gradual normalization of demand in China. Through cost discipline, strict prioritization, and a more clearly focused Autosense, we are laying a solid foundation to reach our goal of positive operating cash flow from 2027 onward. But our ambitions extend further than that: we see significant potential for Tobii, with a sharpened commercial focus, to drive profitable growth over time.”
Presentation on Friday, August 28, 09.00 CEST.
CEO Fadi Pharaon and interim CFO Åsa Wirén will present and comment on the report. The presentation will be held in English and will be followed by a Q&A session.
Follow the audio webcast presentation live at: Q2 Report 2026
Please make sure you are connected to the webcast by logging in a few minutes before the presentation begins. It will be possible to ask questions via the chat function or verbally, by selecting participation options.
The presentation material will be available at Tobii’s website. The report and a recording of the webcast will be available on the same page.
For more information, please contact:
Henrik Vikström, Interim Head of Communications, Tobii AB,
Phone: +46 (0)70 952 80 06
email: henrik.vikstrom@tobii.com
Åsa Wirén, interim CFO, Tobii AB,
Phone: +46 (0)70 084 83 85
email: asa.wiren@tobii.com
About Tobii
Tobii is the global leader in eye tracking and pioneer of attention computing. We are on a mission to improve the world with technology that understands human attention and intent. Creating tech for a better future, our technologies and solutions apply to areas such as behavioural studies and research, healthcare, education and training, gaming, extended reality, automotive, and many more. Tobii's eye tracking is used by thousands of enterprises, universities, and research institutes around the globe. Headquartered in Sweden, Tobii is listed on Nasdaq Stockholm (TOBII). For more information: www.tobii.com.
This information is information that Tobii AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-28 07:30 CEST.