Tobii (TOBII) Q3 2025 earnings summary

Executive summary

• CEO Anand Srivatsa announced his intention to resign by January 2026, with the board searching for a successor.

• Q3 2025 saw net sales decline 25% year-over-year to SEK 158 million, with organic growth flat and gross margin improving to 82% from 80%.

• Profit/loss for Q3 was SEK -48 million, down from SEK -17 million last year; EBIT was SEK -33 million versus SEK -17 million.

• Free cash flow improved to SEK -29 million in Q3 (from -96 million), and cash-related OpEx was reduced by over 30% year-over-year.

• Significant milestones achieved in the AutoSense segment, including product launches, regulatory approvals, and industry validation.

Financial highlights

• Group net sales declined by 25% year-over-year, with organic growth at 0%; gross margin improved to 82% (from 80%).

• EBIT for Q3 was SEK -33 million (-17); EBIT margin: -21% (-8%).

• Free cash flow improved to SEK -29 million from -96 million year-over-year.

• Cash and cash equivalents stood at SEK 23 million, down from SEK 138 million a year ago; net debt increased to SEK -540 million.

• Cash-related OpEx was reduced by 30% compared to the same quarter last year.

Outlook and guidance

• Cost reduction program targets SEK 100 million in annual savings over the next four quarters versus Q2 2025 baseline.

• Strategic review underway for asset divestitures and capital market financing options.

• Autosense expected to show strong full-year revenue growth and improved profitability as revenue stabilizes.

• Products & Solutions and Integration segments expected to be profitable in the near term; cautious outlook for Products & Solutions in Q4 due to US policy changes.

• Financial targets: positive free cash flow and 10% EBIT margin for 2026, 20% EBIT margin for 2028.