TBIIF - Tobii AB (publ) (TBIIF) Q1 2024 Earnings Call Transcript

2024-05-16 05:08:02 ET

Tobii AB (publ) (TBIIF)

Q1 2024 Earnings Conference Call

May 16, 2024 3:00 a.m. ET

Company Participants

Carolina Stromlid - Head of Investor Relations

Anand Srivatsa - Chief Executive Officer

Magdalena Rodell Andersson - Chief Financial Officer

Conference Call Participants

Daniel Thorsson - ABG Sundal Collier

Erik Larsson - SEB Enskilda

Presentation

Carolina Stromlid

And welcome to the Presentation of Tobii's Q1 Results 2024. My name is Carolina Stromlid, and I'm Head of Investor Relations here at Tobii. As usual, our CEO, Anand Srivatsa; and our CFO, Magdalena Rodell Andersson will guide you through the highlights and the financial development of the quarter. After the presentation, there will be a Q&A session. So, please feel free to start posting your questions in chat already. And for those of you who have registered to ask questions live using -- you have to raise your hand to participate.

Now, I will hand over to you, Anand.

Anand Srivatsa

Thank you very much, Carolina. So, let me start by giving a quick summary of how Q1 2024 was for Tobii as a company. This quarter was a very important quarter for Tobii as we completed the transformative acquisition of FotoNation, and established ourselves as a top-three player in the automotive interior sensing market. The acquisition itself was completed on January 31. And we also successfully completed an oversubscribed rights issue on April 3. I'm really pleased that automotive customers in tier 1s are leaning in and happy with the new capabilities that Tobii is brining into the space. We are definitely establishing ourselves as a much more credible player.

And I'm also really pleased that in this quarter we were able to show some tangible results of that momentum, announcing a new DMS design win that we shared after the quarter. This was for commercial vehicles. We also shared that our existing OMS design win had expanded to a new OEM. This brings the total number of OEMs that we count as customers up to nine, and continues to demonstrate that we are building momentum in this space. I will share some additional details on the Autosense business at the end of this presentation. As most of you may imagine, this quarter has also been very much focused on successfully integrating the acquisition we have made. And I'm happy that, so far, our progress is on track.

Our expectation and our ambition is to combine the leading capabilities of Tobii and FotoNation to deliver the most competitive interior sensing offering on the market. We also expect that as we go through this integration process, we will be able to leverage technology and cost synergies, and realize the impact of those synergies in the second-half of 2024....

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