TBIIF - Tobii AB (publ) (TBIIF) Q2 2024 Earnings Call Transcript
2024-07-19 05:17:09 ET
Tobii AB (publ). (TBIIF)
Q2 2024 Earnings Conference Call
July 19, 2024, 03:00 AM ET
Company Participants
Carolina Strömlid - Head of Investor Relations
Anand Srivatsa - Chief Executive Officer
Magdalena Rodell Andersson - Chief Financial Officer
Conference Call Participants
Daniel Djurberg - Handelsbanken
Erik Larsson - SEB
Presentation
Operator
Good morning and a warm welcome to the Presentation of Tobii's Q2 2024 Results. My name is Carolina Strömlid, and I'm Head of Investor Relations at Tobii. Our CEO, Anand Srivatsa; and CFO, Magdalena Rodell Andersson will as usual take 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 the questions in chat at any time. And for those of you who have registered to ask questions live simply raise your hand to participate.
With that, I hand over to the word to you, Anand.
Anand Srivatsa
Thank you very much, Carolina. And thank you everyone for joining us today. We entered the second quarter of 2024 as quite a different company after the completion of our significant and transformative acquisition of FotoNation. That acquisition firmly establishes Tobii as the number three player in the automotive interior sensing software market. That acquisition also, of course, means that as a company, we have a much larger set of resources than we have ever had before and we also face a situation where demand for our other businesses are weaker. With these two realities in mind, we had two major focus areas for this quarter. The first was around cost reduction and the second was around ensuring a successful integration of AutoSense.
On the first front, I'm happy that we have initiated a comprehensive cost reduction program to ensure that we can meet our free cash flow and profitability goals while operating under our existing cash resources. Magdalena will share more details about this cost reduction program later in the presentation. The second focus area, equally critical, of course, is to ensure that we have a successful integration of autosense to build our long-term position as a leader in automotive interior sensing....
Tobii AB (publ) (TBIIF) Q2 2024 Earnings Call Transcript