Smart Eye (SEYE) Q2 2025 earnings summary

Executive summary

• Achieved positive EBITDA of SEK 1.0 million in Q2 2025, a significant turnaround from SEK -23.2 million in Q2 2024, driven by cost savings and strong license revenue growth.

• Net sales grew 2.8% year-over-year to SEK 92.1 million in Q2, with underlying organic growth of 12% when adjusted for currency effects.

• Automotive segment saw license revenue growth above 100% and 42% organic growth, while Behavioral Research experienced a slight decline but outperformed industry peers.

• Cash and available credit at quarter-end totaled SEK 93.8 million, supporting ongoing operations and growth plans.

Financial highlights

• Q2 2025 net sales: SEK 92.1 million (Q2 2024: SEK 89.6 million); H1 2025: SEK 182.2 million (H1 2024: SEK 175.7 million).

• Gross margin remained high at 90% in Q2; gross profit SEK 82.8 million.

• EBITDA for Q2 improved to SEK 1.0 million (Q2 2024: SEK -23.2 million); H1 EBITDA SEK -16.9 million (H1 2024: SEK -46.2 million).

• Operating loss for Q2: SEK -40.6 million; H1: SEK -101.9 million.

• Earnings per share after tax: SEK -1.00 in Q2 (Q2 2024: SEK -1.46); H1: SEK -2.47 (H1 2024: SEK -2.99).

Outlook and guidance

• Expectation of continued strong quarters ahead, driven by ramp-up in license volumes and no further cost-saving measures planned.

• Q3 anticipated to be even stronger due to ongoing acceleration in license revenues and low operational expenses.