Tobii (TOBII) Q1 2026 earnings summary

Executive summary

• Net sales reached SEK 164 million, a 17% year-over-year decrease, but organic sales grew 5% despite negative currency effects and the absence of non-recurring revenue.

• Gross margin improved to 84% from 77% year-over-year, driven by favorable product mix and efficiency.

• Cost reduction efforts exceeded targets, achieving SEK 48 million in Q1 2026 and SEK 120 million total since Q2 2025.

• Free cash flow turned positive at SEK 17 million, with a SEK 25 million revolving credit facility secured.

• Strategic design wins secured in Integrations and AutoSense, including a DMS contract with a European sports car manufacturer and a global tech provider.

Financial highlights

• Net sales for Q1 2026 were SEK 164 million (down 17% year-over-year), with organic growth of 5%.

• Gross margin rose to 84% (up from 77%), with gross profit at SEK 138 million.

• Operating profit (EBIT) was SEK -28 million, impacted by lower sales, increased depreciation, and SEK 6 million impairment.

• Free cash flow improved to SEK 17 million from SEK -14 million in Q1 2025.

• Cash and cash equivalents at period end were SEK 39 million after repayments of SEK 39 million in deferred taxes and SEK 47 million in credit facility.

Outlook and guidance

• Focus remains on improving sales execution, cash profile, and cost discipline, with intensified strategic review and investor dialogues.

• Management expects continued growth in demand for attention computing and eye tracking technologies.

• Measures are being implemented to strengthen sales in weak areas and accelerate product renewal.

• Debt obligations from 2027 to 2029 present a financing risk; addressing this is a top priority.

• Ongoing strategic review includes potential divestments, partnerships, or capital raising; outcome is uncertain.