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Redeye estimates that Smart Eye’s ramp-up of revenues will be delayed by 1-2 quarters. Also, due to the delay, Redeye sees a risk of Smart Eye needing to raise cash before turning profitable – but leading to a maximum of 10% dilution.
Redeye estimates that Smart Eye’s ramp-up of revenues will be delayed by 1-2 quarters. Also, due to the delay, Redeye sees a risk of Smart Eye needing to raise cash before turning profitable – but leading to a maximum of 10% dilution. Also, Redeye increases WACC from 9% to 10%. Redeye lowers its valuation range.
Read more and download the Research Update.
The following resolutions were passed at the Annual General Meeting (the “AGM”) of Smart Eye Aktiebolag (publ) (“Smart Eye” or the “Company”) held today, on 28 April 2022 in Gothenburg, Sweden.
Adoption of Income Statement and Balance Sheet for the Financial Year 2021 and Discharge from Liability
Redeye concludes that Q1 was weaker than our expectations. Revenue was 17% below expectations, where Automotive was on the weaker side and Research in line.
Encouraging growth in a challenging environment
Redeye is positive about the announcement of three new design wins, but states they were very much expected. This is yet another proof of the predictability of new design wins for already awarded platform wins. Redeye reiterates its valuation range.
Smart Eye has been selected by an existing customer to deliver its world-leading Driver Monitoring System software to three additional car models. The estimated revenue of the order is SEK 50 million based on estimated product life cycle projections.
Smart Eye, the pioneer of Human Insight AI, scales its automotive Fleet and Aftermarket business with new appointment.
The correction refers to an incorrect reference related to the EU Market Abuse Regulation which has been removed in this press release.
The Annual Report is attached in this press release but is also available through the company’s website: www.corp.smarteye.se/en.
For more information:
Martin Krantz, CEO Smart Eye ABPhone: +46 70-329 26 98Email: [email protected]