First quarter 2026
- Net sales amounted to SEK 164 million (198) with an organic increase of 5%
- Gross margin was 84% (77%)
- Operating result (EBIT) amounted to SEK -28 million (12). The result includes non-cash depreciations of SEK 50 million (30) and write-offs of SEK 6 million (0)
- Profit/loss amounted to SEK -51 million (28)
- Earnings per share amounted to SEK -0.22 (0.12)
- Free cash flow increased to SEK 17 million (-14)
- The cost reduction program initiated in the third quarter 2025, has resulted in cost savings of SEK 48 million during the first quarter, and in total SEK 120 million over three quarters
Significant events during and after the end of the quarter
- New design win for DMS with a European sports car manufacturer
- Expansion of current design win for commercial vehicles
- Tobii surpasses one million vehicles on the road equipped with its interior sensing solutions
- Agreement with a leading global consumer electronics supplier, for integration of Tobii's webcam-based eye tracking in tablets
- After the quarter, an agreement regarding a credit facility of SEK 25 million was reached with the company's bank
CEO Fadi Pharaon comments:
"In the first quarter of 2026, we report increased gross margin and improved free cash flow. Net sales were negatively affected by the challenging currency development and market situation but still generated organic growth of 5 percent. The commercial achievements during the period include, among others, a design win for our webcam-based eye tracking technology with a global supplier of consumer electronics as well as a design win for DMS for a sports car manufacturer. Our cost reduction target of SEK 100 million by the second quarter of 2026 was exceeded.
An agreement with the company's bank on a new credit facility was reached after the end of the quarter.
The strategic review of the Board of Directors and management has led to concrete discussions with external parties during the quarter.
Financial results
Net sales in the first quarter of 2026 amounted to SEK 164 million (198). Compared to the corresponding quarter last year, organic growth was 5 percent. The stronger Swedish krona had a negative impact on net sales with SEK 15 million, or 9 percent; and non-recurring revenue of SEK 27 million in the first quarter of last year negatively impacted the comparison by 13 percent.
Products & Solutions net sales amounted to SEK 79 million (104), which corresponded to an organic decrease of 15 percent. In addition to currency effects, the segment was affected by weak sales in China, where the adoption of a new five-year plan delayed procurement processes. At the same time, both the USA and EMEA showed organic growth.
Net sales from Integrations amounted to SEK 41 million (80), which corresponded to a decrease of 50 percent, partly due to the volatile nature of the business. The first quarter of 2025 included non-recurring revenue of SEK 27 million from the imaging business included in the acquisition of Autosense. The organic decrease for Integrations was 20 percent. After the end of the quarter, a design win was secured with a global supplier of consumer electronics for integration of Tobii's webcam-based eye tracking technology in an upcoming series of tablets.
Autosense net sales amounted to SEK 45 million (14), which corresponded to organic growth of 241 percent. The increase was primarily due to a previously announced DMS license agreement with a large automotive subcontractor. At the end of the quarter, a design win for DMS was secured with a European sports car manufacturer in the premium segment, and an existing design win for DMS in commercial vehicles was expanded.
The gross margin for the Group increased to 84 percent (77). The increase is mainly due to a favorable product mix and a more efficient organization. In the third quarter of 2025, an additional cost-saving program was initiated with a target of SEK 100 million over four quarters. The program has already delivered SEK 120 million in savings, of which SEK 48 million during the quarter. Combined with the previous program, costs have been significantly reduced, from SEK 246 million in the second quarter of 2024 to SEK 126 million in the first quarter of 2026. Operating profit (EBIT) amounted to SEK -28 million (12) and includes non-cash impacting depreciation of SEK 50 million (30) and impairment of intangible assets of SEK 6 million (0). The result for the quarter amounted to SEK -51 million (28).
Financial position
Cash and cash equivalents at the end of the quarter amounted to SEK 39 million (117), and free cash flow amounted to SEK 17 million (-14). During the period, SEK 39 million of covid-related tax relief was repaid. The utilized credit facility at year-end of SEK 47 million has been repaid in full. After the end of the quarter, an agreement was reached with the company's bank on a credit facility amounting to SEK 25 million. The facility is dimensioned based on Tobii's current needs following completed and ongoing cost reductions.
During the quarter, the Board and management's strategic review has led to concrete 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.
Outlook
After just over 100 days as CEO, I can conclude that Tobii's technology, innovation capabilities and deep expertise position the company well for a growing demand in Attention Computing. We see that more customers and categories recognize the value in understanding attention, behavior and interaction between humans and machines through eye tracking and related technologies, and we assess that the importance of this will increase in line with the growing use of AI and robotics.
Tobii leaves the first quarter of 2026 with many positive customer dialogues, which we are working to convert into commercial opportunities. In areas with weak sales, we are implementing measures to strengthen sales efforts and increase marketing activities. We are also accelerating the pace of product renewal to strengthen our competitiveness and support future growth. With these focused efforts, and continued measures for cost control, we see conditions in place for an operational cash flow in balance."
Q1 presentation on Wednesday, May 6, 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: Q1 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:
Rasmus Löwenmo Buckhöj, Head of Communications, Tobii AB, phone: +46 (0)73 327 87 64, email: rasmus.lowenmobuckhoj@tobii.com
Åsa Wirén, interim CFO, Tobii AB, tel: +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.
