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Tobii Audit Report / Information 2025
3119_10-k_2026-02-03_3703f2fe-6bc5-4810-b165-fe79b9639695.pdf
Audit Report / Information
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Year-end report January - December 2025
Continued weak market but delivers on strategic review and cost reductions
- Net sales amounted to SEK 193 million (284) with an organic decline of 10%
- Gross margin was 78% (84%)
- Operating result (EBIT) amounted to SEK -196 million (50). The result includes non-cash write-offs of goodwill of SEK -244 million, fair value adjustments of contingent considerations of SEK 67 million and write-offs of projects of SEK -18 million. Excluding fair value adjustments and write-offs, EBIT amounted to SEK -1 million
- Profit/loss amounted to SEK -201 million (5)
- Earnings per share amounted to SEK -0.86 (0.02)
- Free cash flow increased to SEK 57 million (-14)
- The cost reduction program initiated in the third quarter, has resulted in cost savings of SEK 43 million during the fourth quarter
SIGNIFICANT EVENTS DURING AND AFTER THE END OF THE QUARTER
- Tobii signed DMS licensing deal with major automotive supplier
- Fadi Pharaon was appointed as the new CEO of Tobii AB, effective as of January 1st, 2026
- Decision to write-off goodwill and projects and fair value adjustments of contingent considerations of net -195 million
FOURTH QUARTER 2025 JANUARY-DECEMBER 2025
- Net sales amounted to SEK 834 million (857) with an organic growth of 18%
- Gross margin was 80% (80%)
- Operating result (EBIT) amounted to SEK -194 million (-107), including a one-time volume order. The result includes noncash write-offs of goodwill of SEK -244 million, fair value adjustments of contingent considerations of SEK 67 million and write-offs of projects of SEK -66 million. Excluding fair value adjustments and write-offs, EBIT amounted to SEK 49 million
- Profit/loss amounted to SEK -217 million (-177)
- Earnings per share amounted to SEK -0.93 (-0.89)
- Free cash flow amounted to SEK 85 million (-345). During the year, SEK 91 million of the covid related liability has been repaid.
- The cost reduction program initiated in the third quarter has resulted in cost savings of SEK 72 million during the third and fourth quarter. The program that what launched during 2024 and ended after the second quarter 2025 achieved SEK 263 million in total cost reductions
- The Board of Directors proposes that no dividend should be paid to shareholders for the financial year 2025
FINANCIAL PERFORMANCE INDICATORS FOR THE GROUP
| Q4 2025 |
Q4 2024 |
Δ | Organic Δ |
Jan-Dec 2025 |
Jan-Dec 2024 |
Δ Organic Δ | ||
|---|---|---|---|---|---|---|---|---|
| Net sales, SEK million | 193 | 284 | -32% | -10% | 834 | 857 | -3% | 18% |
| Gross profit, SEK million | 150 | 240 | -90 | 668 | 687 | -20 | ||
| Gross margin, % | 78% | 84% | - | 80% | 80% | - | ||
| Operating profit/loss (EBIT), SEK million | -196 | 50 | -247 | -194 | -107 | -87 | ||
| Operating margin (EBIT-margin), % | -102% | 18% | - | -23% | -12% | - | ||
| Profit/loss for the period, SEK million | -201 | 5 | -206 | -217 | -177 | -40 | ||
| Earnings per share, SEK | -0.86 | 0.02 | -0.88 | -0.93 | -0.89 | -0.04 | ||
| Free cash flow, SEK million | 57 | -14 | 71 | 85 | -345 | 430 |
For more information, see financial definitions on pages 19-21.
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Comments from the CEO
During a quarter where geoeconomics and currency-related headwinds contributed to generally weak sales, we continued to execute on our plan for a strengthened financial position. We secured an important DMS licensing agreement with significant contribution to cash flow in Q4 and in the first half of 2026. Considerably lowered costs contributed to an underlying EBIT of SEK -1 million. Free cash flow was strengthened to SEK 57 million. When including non-cash fair value adjustments and write-offs amounting to net SEK -195 million, the reported EBIT was SEK -196 million.
Financial results
Net sales for the fourth quarter amounted to SEK 193 million (284). The decline is caused by one-time revenues during the comparison quarter and a cautious market. In addition, the exchange rate development caused a negative impact of SEK -17 million.
For Products & Solutions, net sales declined compared to the same quarter last year. This was partially due to the strengthened Swedish Krona, but mainly due to trade barriers that continue to affect product sales in the USA and in China. The quarter ended with a positive result for our consultancy services.
Net sales for Integrations were down compared to last year. A new design win for a VR headset was secured during the quarter, and we noted a continued interest in smart glasses.
Autosense's net sales increased during the fourth quarter of 2025 compared to previous year, mainly driven by initial revenue from a newly won DMS licensing agreement that also shows an example of how our technology can be monetized in alternative ways.
We're seeing a continued interest in our single-camera solution, and as shipping of cars from the European premium OEM equipped with Tobii's solution has started, the reception from the market has been positive.
Underlying EBIT for the company amounted to SEK -1 million (50). Declined sales and lower margin were partially compensated for by considerable cost reductions throughout the year. Continued cost reductions amounting to SEK 43 million compared to Q2 2025 were achieved during the quarter, in line with the previously communicated plan.
Reported EBIT amounted to SEK -196 million (50). EBIT was affected by non-cash one-time effects amounting to net SEK -195 million, comprising of write-off of goodwill and projects, plus fair value adjustments of contingent considerations for previous acquisitions, mainly related to Autosense. 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.
Financial position
Free cash flow for the quarter was strengthened with SEK 71 million compared to the same quarter previous year and amounted to SEK 57 million. Cash and cash equivalents were SEK 117 million at the end of the quarter. The newly won DMS licensing agreement in Q4 had a positive impact and will continue to strengthen liquidity during the first half of 2026.
Forceful actions have been carried out throughout all of 2025 to strengthen the company. Considerably reduced costs have been combined with portfolio focusing and new revenue in the form of non-core patent sales and technology licensing. Tobii's management and board continue to take strategic and operational actions while the evaluation of financing- and capital market alternatives continues in dialogue with external advisors.
Looking forward
In my newly appointed role as CEO of Tobii, I have a clear goal: to reach a long-term sustainable positive cash flow, which enables growth that is both value-creating and resilient. To reach this goal, our highest priority is to focus on sales and commercial initiatives while we continue to adjust our costs.
By doing so, we will achieve a more predictable financial profile while still maintaining the innovation capacity that has always differentiated Tobii and will continue to be instrumental for the company's long-term success.
I'm glad to have gotten started and I feel so much energy and enthusiasm for continuing to drive the progress of the company together with the organization.
CEO
Fadi Pharaon CEO, Tobii
"I'm glad to have gotten started and I feel so much energy and enthusiasm for continuing to drive the progress of the company together with the organization"
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Financial performance
THE GROUP
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Net sales | 193 | 284 | 834 | 857 |
| Net sales change: | -32% | -3% | ||
| - of which organic | -10% | 18% | ||
| - of which currency | -4% | -8% | ||
| - of which non-recurring revenue 1 | -18% | -12% | ||
| Gross profit | 150 | 240 | 668 | 687 |
| Gross margin | 78% | 84% | 80% | 80% |
| Operating profit/loss (EBIT)² | -196 | 50 | -194 | -107 |
| Operating margin (EBIT-margin) | -102% | 18% | -23% | -12% |
PRODUCTS & SOLUTIONS
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Net sales | 110 | 143 | 390 | 455 |
| Net sales change: | -23% | -14% | ||
| - of which organic | -18% | -6% | ||
| - of which currency | -5% | -8% | ||
| Gross profit | 71 | 102 | 252 | 300 |
| Gross margin | 65% | 72% | 65% | 66% |
| Operating profit/loss (EBIT)² | -1 | 31 | -91 | -40 |
| Operating margin (EBIT-margin) | -1% | 22% | -23% | -9% |
INTEGRATIONS
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Net sales | 46 | 118 | 374 | 353 |
| Net sales change: | -61% | 6% | ||
| - of which organic | -21% | 61% | ||
| - of which currency | -3% | -10% | ||
| - of which non-recurring revenue 1 | -38% | -46% | ||
| Gross profit | 41 | 115 | 346 | 340 |
| Gross margin | 88% | 97% | 92% | 96% |
| Operating profit/loss (EBIT)² | -24 | 73 | 163 | 129 |
| Operating margin (EBIT-margin) | -52% | 62% | 43% | 37% |
AUTOSENSE
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Net sales | 37 | 23 | 70 | 49 |
| Net sales change: | 64% | 42% | ||
| - of which organic | 64% | 42% | ||
| - of which currency | 0% | 0% | ||
| Gross profit | 37 | 22 | 69 | 47 |
| Gross margin | 100% | 99% | 100% | 97% |
| Operating profit/loss (EBIT)² | -172 | -54 | -267 | -197 |
| Operating margin (EBIT-margin) | -463% | -238% | -384% | -401% |
* <sup>1 For more information, see net sales on page 4-5.
NET SALES, SEK M, AND GROSS MARGIN, %
RESEARCH AND DEVELOPMENT
| SEK m | Q4 2025 |
Q4 2024 |
|---|---|---|
| Total R&D expenditures | -72 | -158 |
| Capitalization | 32 | 97 |
| Amortization and impairment | -306 | -23 |
| R&D expenses in the income statement | -345 | -84 |
| Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|
| -337 | -589 |
| 174 | 351 |
| -453 | -125 |
| -616 | -363 |
| -337 174 -453 |
NET SALES PER SEGMENT Q4 2025
■Products & Solutions Integrations Autosense
<sup>2 Jan-Dec 2025 includes goodwill and project write-offs of SEK 310 million (33 Products & Solutions, 44 Integrations, 233 Autosense) and change in fair value of contingent considerations of SEK 67 million related to Autosense.
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OCTOBER-DECEMBER
NET SALES
The Group's net sales decreased by 32 percent to SEK 193 million (284). The organic decline was 10%. Non-recurring revenue had a negative impact of 18 percent and exchange rates impacted sales by -4 percent, corresponding to SEK 17 million.
Products & Solutions net sales totaled SEK 110 million (143), corresponding to an organic decline of 18 percent. Exchange rates affected by -5 percent. Net sales were mainly impacted by an uncertain business environment globally.
Integrations net sales decreased by 61 percent to SEK 46 million (118). Non-recurring revenue from the acquired imaging business ended after the second quarter of 2025 (previous year SEK 53 million). The organic decline was 21 percent and exchange rates impacted sales by -3 percent.
Autosense net sales increased to SEK 37 million (23), corresponding to an organic growth of 64 percent. The increase is primarily related to a DMS licensing agreement with a major automotive supplier. Net sales were not affected by exchange rates.
RESULTS
The gross margin was 78 percent (84). The decreased gross margin is mainly due to lower sales volumes and the discontinuation of the non-recurring revenue streams from the acquired imaging business.
Products & Solutions gross margin was 65 percent (72). The difference in gross margin was related to the change in volumes.
Integrations gross margin was 88 percent (97). The high gross margin reflects the software-, service-, and license-based product mix. The change relates to the ending of non-recurring revenues from the acquired imaging business.
Autosense gross margin was 100 percent (99). The high gross margin reflects a favorable revenue mix consisting of non-recurring customer-specific engineering projects and software sales.
Operational expenses amounted to SEK 346 million (189). The increase is related to non-cash write-offs of intangible assets of SEK 262 million. This was partly offset by the cost reduction initiatives and non-cash change in fair value of contingent considerations of SEK 67 million, presented in other operating income.
Cash-related operational expenses, excluding depreciation and including R&D capex, amounted to SEK 136 million in the quarter. For the fourth quarter of 2025, total cash-related operational expenses were SEK 43 million lower than the baseline of SEK 179 million in the second quarter.
The operating result was SEK -196 million (50), and the operating margin was -102 percent (18). The change in EBIT was primarily due to a decline in net sales, which is an effect of the ceased nonrecurring revenue from the acquired imaging business, lower capitalization, higher depreciation, and write-offs of SEK 262 million. This was offset by the implemented cost-saving measures and the change in fair value of contingent considerations.
Net financial items amounted to SEK 1 million (-38), primarily comprising SEK 10 million (-25) in currency effects, SEK -10 (-15) in interest expenses. The interest expenses were mainly related to interest-bearing liabilities and interest due to temporary covid tax reliefs.
Profit/loss before tax was SEK -196 million (12). Tax amounted to SEK -6 million (-7).
Profit/loss for the quarter was SEK -201 million (5) and diluted earnings per share were SEK -0.86 (0.02).
CASH FLOW
Cash flow from operating activities, before changes in working capital, amounted to SEK 43 million (77).
Change in working capital amounted to SEK 47 million (9). Investments in intangible, tangible, and financial fixed assets amounted to SEK 33 million (101), including SEK 32 million (97) in capitalized R&D costs.
Free cash flow was SEK 57 million (-14). Free cash flow was impacted by significant customer payments, lower costs, and reduced R&D investments.
Cash flow from financing activities amounted to SEK 40 million (-11).
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JANUARY-DECEMBER
NET SALES
The Group's net sales decreased by 3 percent to SEK 834 million (857). Non-recurring revenue had a negative impact of 12 percent and exchange rates affected by -8 percent, corresponding to SEK 68 million. Organic growth was 18 percent.
Products & Solutions net sales totaled SEK 390 million (455), corresponding to an organic decline of 6 percent. Exchange rates affected by -8 percent. Net sales were impacted by an uncertain business environment globally.
Integrations net sales increased by 6 percent to SEK 374 million (353). Net sales were positively impacted by the pre-purchase deal with Dynavox Group of SEK 100 million and one-time revenue of SEK 52 million. Non-recurring revenue from the acquired imaging business amounted to SEK 50 million (132). As previously communicated, this contribution ended after the second quarter of 2025 and is not considered organic. The organic growth was 61 percent and exchange rates impacted sales by -10 percent.
Autosense net sales amounted to SEK 70 million (49), corresponding to an organic growth of 42 percent. Net sales were not affected by exchange rates.
RESULTS
The gross margin was 80 percent (80).
Products & Solutions gross margin was 65 percent (66). The difference in gross margin was related to the change in product mix. Integrations gross margin was 92 percent (96). The high gross
margin reflects the software-, service-, and license-based product mix. The difference in gross margin was related to a higher share of hardware in 2025.
Autosense gross margin was 100 percent (97). The high gross margin reflects a favorable revenue mix consisting of non-recurring customer-specific engineering projects and software sales.
Operational expenses amounted to SEK 862 million (794). The increase is attributed to non-cash write-offs of intangible assets of SEK 310 million (SEK 33 million in Products & Solutions, SEK 44 million in Integrations, and SEK 233 million in Autosense). The increase was partly offset by the cost reduction initiatives, the change in fair value of contingent considerations of SEK 67 million, and the divestment of certain non-core patents of SEK 15 million.
The operating result (EBIT) was SEK -194 million (-107) and the operating margin was -23 percent (-12). The decreased EBIT was an effect of the write-offs of intangible assets of SEK 310 million and was partly offset by the implemented cost-saving measures and the change in fair value of contingent considerations.
Net financial items amounted to SEK -17 million (-60), primarily comprising SEK 61 million (-11) in currency effects, SEK -47 (-54) in interest expenses, and SEK -32 million (-3) in other financial expenses. The interest expenses were mainly related to interestbearing liabilities and interest due to temporary covid tax reliefs.
Profit/loss before tax was SEK -211 million (-167).
Tax amounted to SEK -6 million (-9) for the period.
Profit/loss for the period was SEK -217 million (-177) and diluted earnings per share were SEK -0.93 (-0.89).
CASH FLOW AND FINANCIAL POSITION
Cash flow from operating activities, before changes in working capital, amounted to SEK 199 million (52). Change in working capital amounted to SEK 63 million (-45).
Investments in intangible, tangible, and financial fixed assets amounted to SEK 177 million (352), including SEK 174 million (351) in capitalized R&D costs.
Free cash flow was SEK 85 million (-345). Free cash flow was impacted by cash flow from operating activities and the reduced R&D investments.
Cash flow from financing activities amounted to SEK -75 million (226), including the repayment of SEK 91 million for covid-related tax relief.
Intangible assets decreased from SEK 1,126 million to SEK 812 million during the period. Following a strategic overview of intangible assets, a SEK 48 million write-down was accounted for in the second quarter and SEK 262 million in fourth quarter.
Financial and other non-current assets have decreased SEK 64 million since year-end. The decrease is mainly related to the renegotiation and payment of a customer contract.
As previously communicated, Tobii has been granted a three-year repayment plan for covid-related tax reliefs, totaling SEK 161 million and SEK 68 million, originally set to expire in February and September 2024, respectively. SEK 80.5 million of the total SEK 161 million was repaid in the third quarter of 2025, with the remaining half due in the first quarter of 2027. Of the SEK 68 million, half is scheduled for repayment in the first quarter of 2026, with the remainder due in the third quarter of 2027. In total, SEK 91 million was paid during the third quarter, which included interest and deferral fees.
During the third quarter, a portion of the debt related to covid tax reliefs, including accrued interest and deferral fees was reclassified from current to non-current liabilities and from working capital to interest-bearing debt. Comparative periods have been restated.
In connection with the acquisition of FotoNation Ltd during 2024, a promissory note of USD 28 million was issued with 8 percent interest that will be paid over three years, starting in 2027.
At the close of the period, the Group had SEK 117 million (116) in cash and cash equivalents. In addition, the Group has access to a credit facility of SEK 50 million, of which SEK 47 million was utilized at the end of the year. The credit facility expires Mars 31st, 2026 and dialogues are ongoing.
Consolidated net debt totaled SEK -481 million (-577).
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The Group
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
| Q4 | Q4 | Jan-Dec | Jan-Dec | |
|---|---|---|---|---|
| SEK m | 2025 | 2024 | 2025 | 2024 |
| Net sales | 193 | 284 | 834 | 857 |
| Cost of goods and services sold | -43 | -44 | -166 | -169 |
| Gross profit | 150 | 240 | 668 | 687 |
| Selling expenses | -48 | -70 | -244 | -295 |
| Research and development expenses* | -345 | -84 | -616 | -363 |
| Administrative expenses | -25 | -36 | -111 | -149 |
| Other operating income and operating expenses | 72 | 0 | 109 | 13 |
| Operating profit/loss (EBIT) | -196 | 50 | -194 | -107 |
| Net financial items | 1 | -38 | -17 | -60 |
| Profit/loss before tax | -196 | 12 | -211 | -167 |
| Tax | -6 | -7 | -6 | -9 |
| Profit/loss for the period | -201 | 5 | -217 | -177 |
| Other comprehensive income | ||||
| Items that may subsequently be reclassified to profit or loss for the period: | ||||
| Translation differences | 2 | 35 | -68 | 19 |
| Other comprehensive income for the period, net after tax | 2 | 35 | -68 | 19 |
| Total comprehensive income for the period | -199 | 40 | -285 | -158 |
| Earnings per share, SEK | -0.86 | 0.02 | -0.93 | -0.89 |
| Earnings per share, diluted, SEK | -0.86 | 0.02 | -0.93 | -0.89 |
| Profit/loss for the period attributable to: | ||||
| Parent Company shareholders | -201 | 5 | -217 | -177 |
| Non-controlling interests | 0 | 0 | 0 | 0 |
| Total comprehensive income for the period attributable to: | ||||
| Parent Company shareholders | -199 | 40 | -285 | -158 |
| Non-controlling interests | 0 | 0 | 0 | 0 |
*) Includes write-offs of goodwill and projects amounting to SEK 262 million for the fourth quarter and SEK 310 million for the financial year 2025.
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CONDENSED CONSOLIDATED BALANCE SHEET
| SEK m | Dec 31 2025 |
Dec 31 2024 |
|---|---|---|
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Intangible assets* | 812 | 1,126 |
| Tangible fixed assets | 14 | 24 |
| Right-of-use assets | 83 | 100 |
| Financial and other non-current assets | 104 | 168 |
| Total non-current assets | ||
| CURRENT ASSETS | 1,013 | 1,420 |
| Trade receivables | 61 | 120 |
| Inventories | 41 | 76 |
| Other current assets | 64 | 98 |
| Cash and cash equivalents | 117 | 116 |
| Total current assets | 282 | 409 |
| Total assets | 1,295 | 1,829 |
| EQUITY | ||
| Equity, Parent Company shareholders | 393 | 676 |
| Non-controlling interests | 2 | 2 |
| Total equity | 395 | 678 |
| LIABILITIES | ||
| NON-CURRENT LIABILITIES | ||
| Interest-bearing loans | 427 | 502 |
| Leasing liabilities | 53 | 65 |
| Other non-current liabilities | 174 | 265 |
| Total non-current liabilities | 654 | 832 |
| CURRENT LIABILITIES | ||
| Short-term part of Interest-bearing loans | 89 | 92 |
| Leasing liabilities | 29 | 34 |
| Other current liabilities | 129 | 193 |
| Total current liabilities | 247 | 319 |
| Total liabilities | 901 | 1,151 |
| Total equity and liabilities | 1,295 | 1,829 |
*) A correction of 2024 has been made following updates to the preliminary purchase allocation. SEK 53 million has been reclassified from capitalized product development costs to goodwill.
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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
| Attributable to Parent Company shareholders | |||||||
|---|---|---|---|---|---|---|---|
| SEK m | Share capital |
Other contributed capital |
Currency translation reserve |
Retained earnings |
Total | Non-controlling | interests Total equity |
| Opening balance, Jan 1, 2024 | 1 | 1,994 | -35 | -1,398 | 562 | 2 | 564 |
| Comprehensive income for the period | 19 | -177 | -158 | 0 | -158 | ||
| New share issue | 1 | 266 | 267 | 267 | |||
| Divestment indirect minority | 0 | 0 | 0 | 0 | 0 | 0 | |
| Share based payments settled using equity instruments |
5 | 5 | 5 | ||||
| Closing balance, Dec 31, 2024 | 2 | 2,260 | -16 | -1,569 | 676 | 2 | 678 |
| Opening balance, Jan 1, 2025 | 2 | 2,260 | -16 | -1,569 | 676 | 2 | 678 |
| Comprehensive income for the period | -68 | -217 | -285 | 0 | -285 | ||
| New share issue | 0 | 1 | 0 | 1 | 1 | ||
| Share based payments settled using equity instruments |
1 | 1 | 1 | ||||
| Closing balance, Dec 31, 2025 | 2 | 2,261 | -84 | -1,786 | 393 | 2 | 395 |
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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Cash flow from operating activities | ||||
| Profit/loss after financial items | -196 | 12 | -211 | -167 |
| Adjustment for items not included in the cash flow | 239 | 67 | 412 | 225 |
| Taxes paid | 0 | -1 | -2 | -6 |
| Cash flow from operating activities before change in working capital | 43 | 77 | 199 | 52 |
| Cash flow from change in working capital | 47 | 9 | 63 | -45 |
| Cash flow from operating activities | 90 | 87 | 262 | 7 |
| Investments in intangible, tangible, and financial fixed assets | -33 | -101 | -177 | -352 |
| Cash flow after continuous investments | 57 | -14 | 85 | -345 |
| Acquisitions and divestments | - | 1 | - | -4 |
| Cash flow after investments | 57 | -14 | 85 | -350 |
| Interest-bearing loan | 47 | -1 | -46 | -3 |
| New share issue, net of issue costs | 0 | 0 | 0 | 267 |
| Amortization of lease liability | -7 | -8 | -29 | -35 |
| Other financing activities, net | 0 | -2 | 0 | -2 |
| Cash flow from financing activities | 40 | -11 | -75 | 226 |
| Cash flow for the period | 97 | -25 | 10 | -123 |
| Cash and cash equivalents at the beginning of the period | 23 | 138 | 116 | 236 |
| Foreign currency translation, cash and cash equivalents | -3 | 3 | -9 | 3 |
| Cash and cash equivalents at the end of the period | 117 | 116 | 117 | 116 |
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CONSOLIDATED KEY RATIOS
| Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|
|---|---|---|---|---|
| Earnings per share, SEK | -0.86 | 0.02 | -0.93 | -0.89 |
| Earnings per share, diluted, SEK | -0.86 | 0.02 | -0.93 | -0.89 |
| Equity per share, SEK | 2 | 3 | 2 | 3 |
| EBITDA, SEK m | 115 | 82 | 281 | 62 |
| EBIT, SEK m | -196 | 50 | -194 | -107 |
| Cash flow from operating activities, SEK m | 90 | 87 | 262 | 7 |
| Free cash flow , SEK m | 57 | -14 | 85 | -345 |
| Working capital, SEK m | 36 | 101 | 36 | 101 |
| Total assets, SEK m | 1,295 | 1,829 | 1,295 | 1,829 |
| Net cash(+)/net debt (-), SEK m | -481 | -577 | -481 | -577 |
| Net cash(+)/net debt (-); excluding leasing, SEK m | -399 | -478 | -399 | -478 |
| Equity, SEK m | 395 | 678 | 395 | 678 |
| Equity/assets ratio, % | 30 | 37 | 30 | 37 |
| Debt/equity, % | 151 | 102 | 151 | 102 |
| Gross margin, % | 78 | 84 | 80 | 80 |
| EBITDA margin, % | 59 | 29 | 34 | 7 |
| Operating margin (EBIT-margin), % | -102 | 18 | -23 | -12 |
| Average number of outstanding shares | 234,135,600 | 233,680,462 | 233,873,462 | 199,176,524 |
| Average number of outstanding shares after dilution | 234,359,808 | 234,093,878 | 234,092,606 | 199,589,940 |
| Number of outstanding shares at period end | 234,135,600 | 233,680,462 | 234,135,600 | 233,680,462 |
| Number of outstanding shares after dilution at period end | 234,354,744 | 234,093,878 | 234,354,744 | 234,093,878 |
| Average number of employees | 431 | 587 | 469 | 666 |
1On December 31, 2025, a total of 1.0 million stock options, and stock units were outstanding, which is a decrease of 1.8 million since the end of 2024. During the year, 86,453 stock units have been redeemed relating to the following programs: LTI 2021 (8,193), LTI 2022 (12,703), and LTI 2023 (65,557). No stock options have been redeemed. The dilution effect of stock options, and stock units in all the Company´s incentive programs correspond to a maximum of approximately 0,5 percent.
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BREAKDOWN OF NET SALES
| Q4 | Q4 | Jan-Dec | Jan-Dec | |
|---|---|---|---|---|
| SEK m | 2025 | 2024 | 2025 | 2024 |
| NET SALES BY PRODUCT CATEGORY | ||||
| Hardware | 103 | 120 | 350 | 361 |
| whereof Products & Solutions | 80 | 105 | 277 | 320 |
| whereof Integrations | 22 | 16 | 72 | 41 |
| whereof Autosense | 0 | -1 | 0 | 0 |
| Software | 63 | 120 | 378 | 367 |
| whereof Products & Solutions | 20 | 25 | 72 | 88 |
| whereof Integrations | 16 | 91 | 255 | 258 |
| whereof Autosense | 27 | 4 | 51 | 20 |
| Services | 27 | 43 | 106 | 129 |
| whereof Products & Solutions | 9 | 13 | 40 | 47 |
| whereof Integrations | 8 | 11 | 48 | 53 |
| whereof Autosense | 9 | 19 | 18 | 29 |
| Total net sales | 193 | 284 | 834 | 857 |
| NET SALES BY TIMING CATEGORY | ||||
| At a point in time | 192 | 281 | 827 | 834 |
| whereof Products & Solutions | 108 | 140 | 383 | 432 |
| whereof Integrations | 46 | 118 | 374 | 353 |
| whereof Autosense | 37 | 23 | 70 | 49 |
| Over time | 2 | 3 | 6 | 23 |
| whereof Products & Solutions | 2 | 3 | 6 | 23 |
| whereof Integrations | - | - | - | - |
| whereof Autosense | - | - | - | - |
| Total net sales | 193 | 284 | 834 | 857 |
| NET SALES BY GEOGRAPHIC MARKET | ||||
| EMEA | 90 | 86 | 403 | 243 |
| Americas | 46 | 119 | 222 | 360 |
| Other countries | 57 | 78 | 208 | 254 |
| Total net sales | 193 | 284 | 834 | 857 |
{11}------------------------------------------------
QUARTERLY DATA
| 2023 | 2024 | 2025 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |
| Net sales, SEK m | ||||||||||||
| Products & Solutions | 138 | 127 | 94 | 173 | 112 | 109 | 92 | 143 | 104 | 93 | 84 | 110 |
| Integrations | 30 | 55 | 53 | 81 | 43 | 84 | 108 | 118 | 80 | 178 | 69 | 46 |
| Autosense | 1 | 2 | 3 | 2 | 7 | 9 | 11 | 23 | 14 | 12 | 6 | 37 |
| The Group | 168 | 185 | 150 | 255 | 161 | 201 | 211 | 284 | 198 | 284 | 158 | 193 |
| Gross profit, SEK m | ||||||||||||
| Products & Solutions | 94 | 90 | 64 | 117 | 71 | 72 | 54 | 102 | 64 | 59 | 57 | 71 |
| Integrations | 28 | 51 | 47 | 71 | 41 | 80 | 104 | 115 | 73 | 165 | 66 | 41 |
| Autosense | 1 | 2 | 2 | 2 | 7 | 8 | 11 | 22 | 14 | 12 | 6 | 37 |
| The Group | 122 | 143 | 113 | 189 | 119 | 160 | 169 | 240 | 152 | 237 | 129 | 150 |
| Gross margin, % | ||||||||||||
| Products & Solutions | 68 | 71 | 68 | 68 | 64 | 66 | 59 | 72 | 62 | 64 | 68 | 65 |
| Integrations | 91 | 92 | 89 | 88 | 96 | 96 | 97 | 97 | 91 | 93 | 97 | 88 |
| Autosense | 83 | 97 | 95 | 97 | 99 | 91 | 94 | 99 | 100 | 100 | 99 | 100 |
| The Group | 73 | 77 | 75 | 74 | 74 | 79 | 80 | 84 | 77 | 83 | 82 | 78 |
| EBITDA, SEK m | -16 | -10 | -29 | 28 | -27 | -12 | 19 | 82 | 50 | 106 | 11 | 115 |
| Operating profit/loss (EBIT), SEK m | ||||||||||||
| Products & Solutions | -23 | -26 | -22 | 31 | -12 | -59 | -19 | -1 | ||||
| Integrations | -13 | 21 | 49 | 73 | 48 | 112 | 27 | -24 | ||||
| Autosense | -38 | -60 | -44 | -54 | -24 | -28 | -42 | -172 | ||||
| The Group | -53 | -48 | -69 | -14 | -75 | -65 | -17 | 50 | 12 | 24 | -33 | -196 |
| Operating margin (EBIT-margin), % | ||||||||||||
| Products & Solutions | -21 | -24 | -24 | 22 | -12 | -63 | -22 | -1 | ||||
| Integrations | -31 | 25 | 45 | 62 | 59 | 63 | 39 | -52 | ||||
| Autosense | -571 | -710 | -394 | -238 | -167 | -229 | -732 | -463 | ||||
| The Group | -32 | -26 | -46 | -6 | -46 | -33 | -8 | 18 | 6 | 9 | -21 | -102 |
| Profit/loss before tax, SEK m | -57 | -37 | -75 | -28 | -86 | -78 | -16 | 12 | 29 | 3 | -47 | -196 |
| Profit/loss for the period, SEK m | -57 | -38 | -74 | -29 | -87 | -78 | -17 | 5 | 28 | 4 | -48 | -201 |
{12}------------------------------------------------
The Parent Company
The Parent Company's net sales during the quarter totaled SEK 159 million (162) and the operating profit/loss was SEK 37 million (-47). At the end of the period, the Parent Company had SEK 78 million (41) in cash and cash equivalents.
CONDENSED PARENT COMPANY INCOME STATEMENT
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Net sales | 159 | 162 | 618 | 475 |
| Cost of goods and services sold | -45 | -43 | -151 | -159 |
| Gross profit | 115 | 119 | 466 | 317 |
| Selling expenses | -27 | -43 | -130 | -162 |
| Research and development expenses | -95 | -87 | -340 | -231 |
| Administrative expenses | -26 | -32 | -104 | -122 |
| Other operating income and operating expenses | 71 | -4 | 89 | 1 |
| Operating profit/loss | 37 | -47 | -18 | -198 |
| Financial items | -236 | -34 | -214 | -45 |
| Group Contributions | 0 | 0 | 0 | 0 |
| Profit/loss before tax | -199 | -81 | -233 | -242 |
| Tax | 0 | 25 | 0 | 25 |
| Profit/loss for the period | -199 | -56 | -233 | -217 |
{13}------------------------------------------------
CONDENSED PARENT COMPANY BALANCE SHEET
| Dec 31 | Dec 31 | |
|---|---|---|
| SEK m | 2025 | 2024 |
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Intangible assets | 659 | 651 |
| Tangible fixed assets | 5 | 6 |
| Financial assets | 759 | 1,094 |
| Total non-current assets | 1,423 | 1,751 |
| CURRENT ASSETS | ||
| Accounts receivable | 44 | 81 |
| Inventories | 30 | 67 |
| Other current receivables | 72 | 68 |
| Cash and bank balances | 78 | 41 |
| Total current assets | 225 | 257 |
| Total assets | 1,648 | 2,008 |
| EQUITY | 575 | 806 |
| LIABILITIES | ||
| NON-CURRENT LIABILITIES | ||
| Interest-bearing liabilities | 541 | 544 |
| Other non-current liabilities | 159 | 244 |
| Total non-current liabilities | 700 | 787 |
| CURRENT LIABILITIES | ||
| Short-term part of Interest-bearing liabilities | 87 | 92 |
| Other current liabilities | 286 | 322 |
| Total current liabilities | 372 | 414 |
| Total liabilities | 1,072 | 1,202 |
| Total equity and liabilities | 1,648 | 2,008 |
{14}------------------------------------------------
Notes
Note 1. Accounting policies
The Year-end Report complies with the provisions of IAS 34, and the report for the Parent Company has been prepared pursuant to the provisions of the Swedish Annual Accounts Act and RFR 2. In addition to the financial statements, disclosures under IAS 34.16A also appear in other parts of the Year-end report. The accounting policies of the Parent Company and the Group, and the calculation principles used in the report, are unchanged from those used in the most recently published Annual Report, with the exception of the application of new standards. The IASB has published amendments to standards that take effect from January 1, 2025, and onwards.
During 2025, part of the tax liability related to covid tax reliefs, including accrued interest and deferral fee, was reclassified from short-term to long-term liability and from working capital to interestbearing liability. This applies to both the Group and the Parent Company. The previous year has been restated accordingly.
In January 2027, the new IFRS 18 standard will replace IAS 1 Presentation of Financial Statements. Management is currently evaluating the implications of applying the new standard in the financial reports. Aside from IFRS 18, the IASB's amendments have not had any significant impact on the financial statements.
The total amount in tables and statements might not always summarize as there are rounding differences. The aim is to have each line item corresponding to the source and it might therefore be rounding differences in the total.
Note 2. Segments
Tobii is reporting three segments, Products & Solutions, Integrations, and Autosense. Net sales, gross profit, gross margin, operating profit/loss (EBIT) and operating margin (EBIT margin) are reported for each segment, which correspond to the key performance indicators monitored by Group Management.
PRODUCTS & SOLUTIONS
The Products & Solutions segment serves B2B customers, academic clients, and consumers with a comprehensive portfolio of eye tracking solutions, including hardware, insight software, and services. Applications range from advanced research and tools and insights that enhance operational efficiency to engaging gaming experiences. Tobii hardware offering includes eye trackers such as the wearable Tobii Pro Glasses 3 for behavioural research, Tobii Pro Spectrum, Tobii Pro Fusion, and Tobii Pro Spark for eye tracking research, as well as the Tobii Eye Tracker 5 for gaming. From the second quarter 2025 it includes Glasses X, a simple an scalable eye-tracking solution.
INTEGRATIONS
The Integrations segment provides customers with eye tracking integrated into XR technologies and intuitive screen-based devices. Tobii offers compact platforms, USB devices, and services that ensure lasting integrations and drive innovation. These integrations are deployed in various electronic devices, from gaming laptops and medical and assistive technology to virtual reality headsets and smart glasses. Tobii offers a comprehensive range of integration solutions including screen-based platforms, XR platforms, and Lens Technology, combining software, hardware, and IP components.
AUTOSENSE
The segment provides advanced interior sensing solutions, including driver and occupant monitoring systems (DMS and OMS) to automotive original manufacturers (OEM). The solutions are integrated into vehicle models via Tier 1 suppliers or directly by Tobii and deployed in both commercial and passenger vehicles. The segment has design wins with several renowned OEMs and Tier-1 suppliers.
Note 3. Business combinations
ACQUISITIONS
No acquisitions occurred during the year.
On January 31, 2024, Tobii acquired all shares in FotoNation Ltd, including AutoSense business. This strategic acquisition strengthens Tobii's Interior Sensing offerings, including Driver Monitoring System (DMS) and Occupant Monitoring System (OMS).
The consideration for 100 percent of the shares in FotoNation Ltd amounted to a minimum of USD 43 million on a cash- and debt-free basis, of which USD 28 million was structured as a promissory note at 8 percent interest. The promissory note and interest are paid in three annual installments starting in 2027. A future payment of USD 15 million will be paid in four annual installments starting in 2028. There was therefore no upfront cash or share consideration.
Additional earnouts, estimated to be approximately USD 19 million at the time of the acquisition, may be generated by the Autosense segment upon meeting specific volume targets, with payouts scheduled for 2031. This estimation is continuously assessed and adjusted over time for accuracy. See note 4 financial instruments.
{15}------------------------------------------------
Note 4. Financial instruments
| Dec 31 2025 | Dec 31 2024 | ||||
|---|---|---|---|---|---|
| SEK m | Carrying amount |
Fair value | Carrying amount |
Fair value | |
| Financial assets measured at amortized cost | |||||
| Other financial receivables | - - |
61 | 61 | ||
| Financial liabilities measured at amortized cost | |||||
| Interest-bearing loans | 342 | 342 | 333 | 333 | |
| Deferred considerations | 102 | 102 | 113 | 113 | |
| Financial liabilities measured at fair value | |||||
| Contingent considerations | 46 | 46 | 120 | 120 | |
Deferred consideration refers to future payments where the payment is not contingent to future financial or operational targets.
Tobii classifies financial assets and liabilities measured at fair value in a hierarchy based on the information used in the valuation of each asset or liability. For level 3 financial instruments, information material to the fair value assessment is not observable and Tobii's own assessments are applied. Contingent considerations are classified under level 3.
CHANGE IN CONTINGENT CONSIDERATIONS
| SEK m | |
|---|---|
| Liabilities | |
| Opening balance Jan 1, 2025 | 120 |
| Payments | 0 |
| Change in fair value reported as other operational income/loss |
-67 |
| Discounted effect recognized in the consolidated statement of profit or loss |
11 |
| Exchange differences | -18 |
| Closing balance Dec 31, 2025 | 46 |
Other than the contingent considerations, Tobii has no financial instruments that are measured at fair value through profit or loss.
Note 5. Impairment of goodwill
Based on the impairment test that was carried out at the end of the financial year 2025, goodwill has been written off with SEK 244 million (SEK 32 million in Integrations and SEK 212 million in Autosense), primarily due to delayed timelines resulting from weak developments in the international automotive market. At the end of the year, goodwill amounted to SEK 41 million (315).
Note 6. Pledged assets and contingent liabilities
As of December 31, 2025, Tobii has pledged corporate mortgages of SEK 100 (100) million referring to the revolving credit facility and SEK 300 (300) million referring to the promissory note from Xperi Inc. (from the acquisition of FotoNation Ltd.).
{16}------------------------------------------------
Other information
RISKS AND UNCERTAINTY FACTORS
Tobii's business risks include the economic climate, the competitive situation, currency risks, credit risks in relation to customers, financing risks, the risk of impairment of capitalized R&D and other intangible assets, and regulatory risks. Tobii's risks and risk management are described in greater detail in the risk section on pages 33-36 and note 3 in the 2024 Annual and Sustainability Report. Tobii is of the opinion that this risk description remains
Additionally, Tobii's Board of Directors and Management have identified an increased risk of insufficient financing for the next 12 months due to lower net sales than anticipated. The Board of Directors and Management are addressing this forcefully, pursuing several options to strengthen the company's long-term financing. In addition to execution of an additional cost reduction program to further lower operational expenses, as communicated during the third quarter, the Company is making progress in the strategic review related to the divestiture of selected assets. An external advisor has moreover been engaged to explore capital market options to secure financing for the Group's business.
SEASONALITY
Tobii's operations and net sales are characterized by variations between quarters. The seasonal patterns are different for the segments Product & Solutions and Integrations and there are also regional variations. The fourth quarter is normally the strongest quarter in terms of net sales and profits as the budget year closes in most of Tobii's geographic markets.
ORGANIZATION
The average number of full-time employees (FTEs), excluding consultants, was 469 (666) during the period January-December 2025. The decrease was related to the cost reduction programs that were launched during 2024 and 2025.
CHANGES IN GROUP MANAGEMENT
On December 10, 2025, Tobii's Board of Directors decided to appoint Fadi Pharaon as the new CEO of Tobii, effective as of January 1st, 2026.
SHARE CAPITAL AND SHAREHOLDERS
Tobii has issued two classes of shares: ordinary shares and C shares. Ordinary shares carry one vote per share while C shares carry one vote per ten shares. The shares have a quotient value of SEK 0.007256934 per share. The purpose of the C-shares is to facilitate settlement of the company's long-term incentive programs. The C-shares are always included in the company's balance sheet and Tobii is not allowed to exercise the voting rights for these shares. Hence, in practice there is only one share class exercising its voting rights and available for trading in Tobii's free float.
As of December 31, 2025, the total number of shares in the company amounts to 259,436,350, divided into 234,135,600, ordinary shares and 25.300.750, class C shares. The total number of votes in the company amounts to 236,665,675. The share capital is unchanged at SEK 1.882.712.41.
As of December 31, 2025, Tobii has 23,909 shareholders. The company's three largest shareholders were Avanza Pension (7.81% capital and 8.56% votes), Henrik Eskilsson (5.36% capital and 5.88% votes) and Mårten Skogö (4.56% capital and 5.00% votes). For more
information about Tobii's share and ownership structure, see corporate.tobii.com/investors/the-share.
FINANCIAL TARGETS AND DIVIDEND POLICY
Tobii's financial targets that were presented in the beginning of 2024 will be replaced with new adjusted targets. The new targets will be presented subsequent to additional strategic review.
TRANSACTIONS WITH RELATED PARTIES
No transactions have occurred between Tobii and related parties that have had a significant impact on the Group's financial position or performance.
ABOUT THE REPORT
This Year-end report is published in Swedish and English. In the event of discrepancies between the language versions, the Swedish will prevail.
The report has been signed by the CEO under the authorization of the Board of Directors.
Tobii AB (publ)
Stockholm, February 4, 2026
Fadi Pharaon
CFO
{17}------------------------------------------------
Alternative performance measures
Alternative Performance Measures (APMs) are key figures not defined by the applicable financial reporting framework (IFRS) or other legislation.
They are considered important supplemental measures for the Group. A reconciliation of the APMs included in this Year-end report is presented below.
Calculations
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Operating profit/loss (EBIT) | -196 | 50 | -194 | -107 |
| Amortization and impairment of intangible assets | 301 | 21 | 435 | 120 |
| Depreciation and impairment of tangible assets | 9 | 12 | 40 | 49 |
| of which on cost of goods and services sold | 1 | 2 | 5 | 7 |
| of which on operational expenses | 8 | 10 | 35 | 42 |
| EBITDA | 115 | 82 | 281 | 62 |
| Net sales | 193 | 284 | 834 | 857 |
| EBITDA margin, % | 59 | 29 | 34 | 7 |
| Operating profit/loss (EBIT) | -196 | 50 | -194 | -107 |
| Net sales | 193 | 284 | 834 | 857 |
| Operating margin (EBIT-margin), % | -102 | 18 | -23 | -12 |
| Gross profit | 150 | 240 | 668 | 687 |
| Net sales | 193 | 284 | 834 | 857 |
| Gross margin, % | 78 | 84 | 80 | 80 |
| Cash and cash equivalents | 117 | 116 | 117 | 116 |
| Interest-bearing liabilities | -598 | -693 | -598 | -693 |
| Net cash (+)/net debt (-) | -481 | -577 | -481 | -577 |
| Lease liabilities | 82 | 99 | 82 | 99 |
| Net cash (+)/net debt (-); excluding leasing | -399 | -478 | -399 | -478 |
| Inventories | 41 | 76 | 41 | 76 |
| Trade receivables | 61 | 120 | 61 | 120 |
| Other current assets | 64 | 98 | 64 | 98 |
| Other current liabilities | -129 | -193 | -129 | -193 |
| Working capital | 36 | 101 | 36 | 101 |
{18}------------------------------------------------
Calculations
| SEK m | Q4 2025 |
Q4 2024 |
Jan-Dec 2025 |
Jan-Dec 2024 |
|---|---|---|---|---|
| Equity attributable to the Parent Company's shareholders | 393 | 676 | 393 | 676 |
| Average number of outstanding shares | 234,135,600 | 233,680,462 | 233,873,462 | 199,176,524 |
| Equity per share, SEK | 2 | 3 | 2 | 3 |
| Total equity | 395 | 678 | 395 | 678 |
| Total assets | 1,295 | 1,829 | 1,295 | 1,829 |
| Equity/assets ratio, % | 30 | 37 | 30 | 37 |
| Interest-bearing liabilities | 598 | 693 | 598 | 693 |
| Total equity | 395 | 678 | 395 | 678 |
| Debt/Equity, % | 151 | 102 | 151 | 102 |
{19}------------------------------------------------
Definitions
| Key performance measures | Definition | Purpose |
|---|---|---|
| Gross margin | Gross profit in relation to the net sales of the business. |
Gross margin is used to measure production profitability. |
| EBITDA | Operating profit/loss before depreciation, amorti zation, and impairment. |
EBITDA is used to measure earnings from opera ting activities excluding depreciation, amortization, and impairment. |
| EBITDA margin | Operating profit/loss before depreciation, amorti zation, and impairment in relation to the net sales of the business. |
The EBITDA margin is used to illustrate EBITDA in relation to sales. |
| Operating profit/loss (EBIT) | Operating profit/loss before financial income and expenses, and taxes. |
EBIT is used to measure operating profitability. |
| Operating margin (EBIT margin) | Operating profit/loss in relation to the net sales of the business. |
The EBIT margin is used to illustrate EBIT in rela tion to sales and is a measure of the company's profitability. |
| Cash flow from operating activities |
Cash flow from operating activities including change in working capital and before cash flow from investments and financing activities. |
Cash flow from operating activities is used as a measure of the cash flow the company generates before investments and financing. |
| Free cash flow | Cash flow after continuous investments, meaning cash flow from operating and investment activities, excluding acquisitions and divestments of subsidiaries. |
Free cash flow is used as a measure of the cash flow generated by the underlying business exclu ding cash flow from acquisitions, divestments, and the financing activities. |
| Working capital | Inventories, trade receivables, other current receivables, prepaid expenses and accrued income less trade payables and other current non interest-bearing liabilities. |
Working capital is used to measure the company's capacity to meet its current capital requirements. |
| Net cash (+)/net debt (-) | Cash and cash equivalents less interest-bearing liabilities. |
Net debt represents the company's capacity to pay off all of its debts should they fall due for payment as of the balance sheet date using the company's available cash and cash equivalents on the balance sheet date. |
| Organic growth | Change in total sales for the period adjusted for acquisitions, divestment, and currency, compared with total sales for the comparative period. |
Organic growth is used to measure the underlying growth in local currencies of the business. |
| Equity/assets ratio | Total equity as a percentage of total assets. | The equity/assets ratio shows the percentage of total assets financed by the shareholders through equity. |
| Debt/equity ratio | Interest-bearing liabilities divided by total equity. | The debt/equity ratio measures the extent to which the company is financed through loans. |
| Equity per share | Equity at the end of the period attributable to the Parent Company's shareholders divided by the number of shares at the end of the period. |
Equity per share measures the Group's net value per share. |
| Average number of employees | The average number of permanent employees, including part-time employees converted to full time employment. |
Average number of employees measures the number of full-time employees in the Group needed to generate the period's earnings. |
{20}------------------------------------------------
This is Tobii
More than twenty years ago, Tobii pioneered the world's first plug & play eye tracker. Today we are the global leader in our industry with a mission to improve the world with technology that understands human attention and intent.
WHO WE ARE
Tobii is a leading developer, manufacturer, and partner on eye tracking and attention computing solutions across various industries worldwide. Around 500 engaged Tobiians drive our diverse organization and develop technologies for the next leap in human computer interaction, turning groundbreaking innovations into reality.
WHAT WE DO
Our technologies fuel digital transformation across behavioral research, automotive interior sensing, healthcare, assistive tech, gaming and extended reality. Integrated into devices like XR headsets, personal computers, gaming accessories, smart glasses, medical equipment and vehicles. Our solutions empower thousands of enterprises, including global tech and automotive OEMs, as well as leading research institutes, by enhancing product performance, driving innovation, and enabling precise, data-driven insights across various sectors.
OUR FOOTPRINT
Tobii, headquartered in Stockholm, Sweden, operates in 12 countries across Asia, Europe, and North America. We engage customers directly in key markets and collaborate with resellers in other regions.
FOR MORE INFORMATION, PLEASE CONTACT:
Rasmus Löwenmo Buckhöj, Head of Communications
+46 (0)73 327 87 64, [email protected]
Åsa Wirén, CFO +46 (0)70 084 83 85, [email protected]
PUBLICATION
This Year-end report comprises such information that Tobii AB is obligated to publish pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. This information was published through the agency of the persons set out above on February 4, 2026, at 7.30 a.m. CEST.
WEBCAST PRESENTATION
A webcast presentation will be held today at 9.00 a.m. (CEST). To participate, please visit:
https://tobii.events.inderes.com/q4-report-2025
The presentation material and a replay will be available at the investor website afterwards.
FORWARD-LOOKING STATEMENTS
This interim report contains forward-looking statements based on the Company's current expectations, assumptions and assessments. Such statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. The Company undertakes no obligation to update forwardlooking statements except as required by applicable law or regulation.
FINANCIAL CALENDAR
Annual and Sustainability report 2025 April 10, 2026
Interim report Q1 2026
May 6, 2026
Annual General Meeting 2026
May 7, 2026
Half-year report Q2 2026
July 17, 2026
Interim report Q3 2026
October 22, 2026
Year-end report 2026 February 4, 2027
Tobii AB (publ), Corp. Id. No. 556613-9654, Karlsrovägen 2D, SE-182 53 Danderyd, Sweden, phone: +46 (0)8 663 69 90, www.tobii.com