Smart Eye (SEYE) Q2 2026 earnings summary

Executive summary

• Organic growth reached 54% in Q2 2026, with net sales up 53% year-over-year, driven by strong royalty revenue, especially in Automotive, which saw 128% organic growth.

• Gross margin improved to 90% in Q2 and 91% for H1 2026, reflecting the high-margin software license revenue mix.

• EBITDA improved by SEK 26.4 million in Q2 and SEK 71.2 million for H1, with operating leverage becoming visible as more Automotive Design Wins entered production.

• Result after tax for Q2 was SEK -27.0 million, a significant improvement from SEK -37.4 million in Q2 2025.

Financial highlights

• Q2 net sales: SEK 140.9 million (up 53% YoY); H1 net sales: SEK 267.3 million (up 47% YoY).

• Q2 EBITDA: SEK 27.4 million (vs. SEK 1.0 million in Q2 2025); H1 EBITDA: SEK 54.3 million (vs. SEK -16.9 million in H1 2025).

• Q2 gross margin: 90%; H1 gross margin: 91%.

• Q2 result after tax: SEK -27.0 million; H1 result after tax: SEK -49.8 million.

• Free cash flow in Q2 improved by SEK 14.1 million YoY, ending at SEK -23.8 million.

Outlook and guidance

• EU regulations mandating driver monitoring systems (DMS) in all new cars from July 2026 are expected to drive continued strong demand and royalty growth.

• Interior Sensing is emerging as the next growth vector, with recent major orders and expanding OEM adoption.

• Management anticipates further nominations and continued operational leverage as more Design Wins enter production.