Tobii (TOBII) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 were SEK 154 million, down 46% year-over-year due to a strong comparison period with large non-recurring deals in 2025, but adjusted organic growth was 7%.

• Cost reduction programs delivered SEK 43 million in Q2 savings and SEK 163 million over four quarters, exceeding targets.

• Free cash flow was negative SEK 10 million for the quarter, with a cash balance of SEK 37 million at quarter-end.

• Liquidity remains strained, with a risk of insufficient financing for the next 12 months.

• Strategic review ongoing, with board and management pursuing financing alternatives, including divestments, partnerships, and capital raising.

Financial highlights

• Gross margin held at 82% (vs. 83% last year) despite lower revenue.

• EBIT was SEK 15 million, positively impacted by a SEK 49–55 million non-cash reversal/fair value adjustment of contingent consideration.

• Operating profit was down SEK 9 million year-over-year, mainly due to lower net sales.

• Depreciation and amortization increased to SEK 49 million; impairments were SEK 2 million (vs. SEK 48 million last year).

• Free cash flow for the last 12 months was positive SEK 35 million.

Outlook and guidance

• No guidance provided for the second half of 2026 due to financing uncertainty.

• Target remains sustainable positive operating cash flow from 2027, supported by cost savings, product focus, and Autosense measures.

• Market volatility and regional uncertainty persist, but demand in China is expected to normalize gradually.

• Board and management are actively pursuing financing alternatives, including divestments, partnerships, and capital raising.