Tobii Interim Report for the Second Quarter 2020

STOCKHOLM, Aug. 19, 2020 /PRNewswire/ —

Comment by Tobii’s CEO Henrik Eskilsson:

“Due to COVID-19, the second quarter of 2020 was one of the most challenging in Tobii’s history. Given the circumstances, I am proud that Tobii managed to improve our operating result for the quarter compared with the same period in 2019, an accomplishment that would not have been possible without the fantastic efforts of all of Tobii’s employees, who did an amazing job. Activity in the organization has been high with creative sales activities, several important product launches, advances with Tobii Aware to Lenovo and key milestones in major projects within VR. In summary, we are well prepared for continued uncertainty and well positioned to resume growth soon after restrictions in society are lifted. Our ambition is to achieve profitability shortly thereafter.”

Second quarter April-June 2020           

  • Consolidated revenue fell by 4% to SEK 332 million (346) compared with the second quarter of 2019. Organically the decline was 6%. The COVID-19 pandemic has had a strong negative impact on revenue, but this was offset in part by positive momentum in large parts of the business.           
  • Gross margin was 65% (69%). The decline can in part be attributed to non-recurring write-downs.           
  • The Group’s operating result was SEK -45 million (-47).
    Tobii Dynavox contributed SEK 28 million (25) and Tobii Pro SEK -24 million (-2) to operating results, while investments in Tobii Tech had an impact of SEK -49 million (-72) on the Group’s operating result.           
  • Earnings per share amounted to SEK -0.75 (-0.59).

Significant events           

  • Tobii Pro launched Glasses 3, a new generation of the segment’s flagship product. With Glasses 3, Tobii secures its world-leading position in wearable eye tracking and the market’s reception has been strong.           
  • Tobii Dynavox introduced the option for advanced eye tracking outdoors with the I series. Tobii Dynavox has also made available some of the world’s most popular apps, including Spotify, Facebook and Netflix. The new features entail great improvements in quality of life for the user and have been very well received.            
  • Tobii Tech launched its gaming optimized Eye Tracker 5           
  • Tobii Tech continues to deepen its relationship with Lenovo and expand Tobii Aware through integration in two Lenovo ThinkCentre models.            
  • As was previously announced, a cost reduction program was implemented during the quarter with the result that operating costs dropped 20% compared with the second quarter of 2019.

Comments from the CEO

Due to COVID-19, the second quarter of 2020 was one of the most challenging in Tobii’s history. Given the circumstances, I am proud that Tobii…

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