Tobii announces non-cash write-offs of goodwill and projects, and fair value adjustments of contingent considerations, amounting to net SEK -195 million
Tobii has previously communicated that the company is conducting a strategic review to focus its business and improve profitability.
As part of the ordinary annual impairment test, the company has identified a need to carry out write-offs of goodwill amounting to SEK -244 million, mainly related to its Autosense business segment. The review has also resulted in a positive fair value adjustment of contingent considerations amounting to SEK 67 million. In addition, a review of ongoing projects has resulted in a write-off amounting to SEK -18 million. These adjustments are mainly because new business deals haven’t materialized in the anticipated rate, which has delayed the original plans for Autosense. In addition, the international automotive market has developed weaker than expected at the time of the acquisition, which has further affected negatively.
The write-offs and fair value adjustments has no effect on the cash flow of the company.
Additional information is provided in the year-end report for the fourth quarter that has been brought forward to February 3. The report will be presented at 09.00 CEST on February 4 as previously communicated.
For more information, please contact:
Rasmus Löwenmo Buckhöj, Head of Communications, Tobii AB, phone: +46 (0)73 327 87 64, email: rasmus.lowenmobuckhoj@tobii.com
Åsa Wirén, interim CFO, Tobii AB, tel: +46 (0)70 084 83 85, email: asa.wiren@tobii.com
About Tobii
Tobii is the global leader in eye tracking and pioneer of attention computing. We are on a mission to improve the world with technology that understands human attention and intent. Creating tech for a better future, our technologies and solutions apply to areas such as behavioural studies and research, healthcare, education and training, gaming, extended reality, automotive, and many more. Tobii's eye tracking is used by thousands of enterprises, universities, and research institutes around the globe. Headquartered in Sweden, Tobii is listed on Nasdaq Stockholm (TOBII). For more information: www.tobii.com.