Tobii is the global leader in eye tracking

Transcription

1 Aug. 5, 215

2 Henrik Eskilsson, CEO Esben Olesen, CFO 2

3 Tobii is the global leader in eye tracking World leader in eye tracking Founded in 21 Headquartered in Sweden, with offices in the US, China, Japan, Germany, UK, Norway and South Korea 57 employees IPO on Nasdaq Stockholm April 215 Sales per Region (Jan-Jun 215) Europe 23% Rest of the world 15% North America 62% Three strong business units: 3

4 Tobii Dynavox Global leader in assistive technology for communication, with 45% market share Provides products that enable tens of thousands of users with special needs to speak and communicate effectively Reimbursed through public and private insurance systems Doubled size of business unit through acquisition of DynaVox Systems LLC in May 214 3/4 of Tobii Group s sales 4

5 Tobii Dynavox, Highlights Finished the concrete actions of the integration of DynaVox Systems LLC Steve Gleason Act enacted into law in July Several important product launches T7 A new, smaller, touch-based speech generating device I-Series+ New improved version of the best-selling I-Series eye gaze devices Communicator 5 New major version of communication software 5

6 Sales and Gross Margin for Tobii Dynavox % 47% 65% 69% 67% 63% 7% 135 7% % % 173 8% 7% 6% 5% Compared to 214 sales increased 85% due to: Acquisition of DynaVox Systems LLC in May 214 Organic sales growth Positive currency effects % 3% 2% 1% Compared to previous quarter ( 215) sales increased 3%, and by 2% adjusted for currency effects due to: Increased sales in the US Gross margin improved due to: Q3 213 Q % The past years introduction of products with lower production costs A greater proportion of direct sales Positive effects from the Dynavox-acquisition Currency effects Revenue (SEK million) Gross margin 6

7 EBIT and EBIT margin for Tobii Dynavox 4 3% % -2% % 16 Q3 17% 11 2% 14 1% 1 5% 7 Q3 14% 2 16% 26 13% 22 2% 1% % -1% -2% Compared to 214 Reported EBIT margin improved from 1% to 13% due to: 7 MSEK acquisition-related costs in 214, compared to 2 MSEK restructuring costs in 215 Strong sales Improved gross margin Synergy effects Compared to previous quarter ( 215) % EBIT margin decreased from 16% to 13%. Cleared for one-time currency effects on working capital (positive 5 MSEK in and negative 3 MSEK in ), EBIT improved by 4 MSEK (or 2 pp) EBIT (SEK million) EBIT margin 7

8 Tobii Pro World leader in eye tracking solutions for understanding human behavior Market share close to 5% Provides eye tracker hardware and analytics software, plus market research consulting projects 1,5 academic and 2, commercial customers 1/5 of Tobii Group s sales 8

9 Tobii Pro, Highlights Important feature upgrades to Glasses 2 Important feature upgrades to Glasses Analysis Software SDK (development kit) for Glasses 2 9

10 Sales and Gross Margin for Tobii Pro 8 8% % 37 65% 44 66% 4 7% 5 69% 4 7% 35 72% 31 74% 61 75% 54 74% 46 7% 6% Tobii Pro has clear seasonal pattern 215 Sales increased 31% over 214 due to: Positive currency effects Organic sales growth of 9% Compared to, no backlog effect 215 was positively impacted by 6 MSEK in sales by one-time order backlog effect from Glasses 2 2 5% Year-to-date sales increased by 33%, or organically by 6% (excluding currency and order backlog effects) Q Q % Gross margin increased to 74% due to: Lower production costs for Glasses 2 Other favorable product mix effects Revenue (SEK million) Gross margin 1

11 EBIT and EBIT margin for Tobii Pro 2 1 5% 7% 1% 2% 1 8% % 22% 14 13% 7 2% 3% 2% 1% % Compared to 214, EBIT margin increased from % to 2%, impacted by: + Increased sales + Improved gross margin + Positive currency effects - Higher R&D Q3 3-13% Q3 1-1% Compared to 15 no backlog effect % Year-to-date EBIT margin was 8%, compared to 4% in % EBIT (SEK million) EBIT margin 11

12 Tobii Tech Provides components and platforms for eyetracking to OEM customers Targets new volume markets such as computer gaming, computers, virtual reality, vehicles and medical devices ~5% of Tobii Group s sales SPECIALTY APPLICATIONS 12

13 Tobii Tech, Highlights Investing in development of IS4 platform Signed letter of intent with game PC manufacturer MSI MSI showcased a prototype laptop with built-in Tobii eye tracking at Computex in Taiwan. 13

14 Sales and Gross Margin for Tobii Tech 4 72% 8% Compared to 214, sales in 215 increased to 13 MSEK 7% % 1 34% 5 44% 7 Q3 38% 8 46% % 9 Q3 37% 11 42% 18 45% 13 6% 5% % Sales increased both to internal (to Tobii Dynavox and Tobii Pro) and external OEM customers Gross margin in comparison period 214 was impacted by high margin in one-time customer-specific projects 4% 3% 2% Business unit still at very early stage commercially 1% Revenue (SEK million) Gross margin 14

15 2 EBIT for Tobii Tech over Comparison: Investments increased by 7 MSEK to EBIT of -39 MSEK Q Q Total R&D increased from 32 to 34 MSEK Net R&D (as in PnL) increased from 3 to 31 MSEK EBIT (SEK million) 15

16 Tobii Group Revenue and Gross Margin 68% Revenue (million SEK) % % 76% 74% 72% 7% 68% 66% 64% 62% 6% Gross margin Increased R&D spend 6 Net R&D (million SEK) 5 66 Total R&D (million SEK) Revenue (million SEK) Tobii Tobii Pro Tobii Tech Dynavox Group Tobii Dynavox EBIT (million SEK) Tobii Pro Tobii Tech Group

17 Balance Sheet & Cash Flow Tobii Group (MSEK) Total Assets Equity Equity Ratio 77% 39% Net Cash (+)/Net Debt(-) Cash flow after continuous investments 7-2 Total Assets impacted by the IPO, where the company received 434 MSEK net cash Strong balance sheet with high Equity ratio of 77% As end of June 215 all company loans were paid back Current unutilized bank facilities 17 MSEK Cash flow improved due to positive development in Tobii Dynavox and Tobii Pro, which has more than compensated for the increased investment in Tobii Tech 17

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