Financial Overview

The financial overview includes financial development, key figures, financial definitions, risk management, and the financial targets for each business unit that were adopted by Tobii’s Bord of Directors in preparation for the listing on Nasdaq Stockholm in April 2015. 

Financial targets

Tobii Dynavox

Tobii Dynavox's long term goal is to deliver revenue growth in excess of 10% per year, with an EBIT margin of 20%.

Tobii Pro

Tobii Pro's long term goal is to deliver revenue growth in excess of 15% per year, with an an EBIT margin in excess of 15%. In the mid-term (next 2-3 years), Tobii Pro's target is to deliver revenue growth of 10% with an EBIT margin of 10%.

Tobii Tech

Tobii Tech's goal is to become cash flow positive by 2018. Until then, the business unit plans for a SEK 400 million negative cash flow due to significant investments in core technology.

The Group

The combined finacial targets for the three business units indicate positive earnings before tax for the Group as of 2017. The Board estimates that the Group is fully financed to carry out the proposed business plan which extends to the end of 2018, at which time the Group in its entirety is expected to be cash flow positive with support from the capital acquired from the listing of its shares on the stock exchange.

Forward-looking information

Financial targets represent forward-looking information. Forward-looking information means that no guarantee can be given regarding future earnings or development and the actual results may differ from those expressed in forward-looking information.

Financial development

Tobii has shown organic growth each year since its inception in 2001. In addition, a few strategic acquisitions have further contributed to the Group’s development, the latest being the acquisition of DynaVox Systems LLC in May 2014.

Net sales have since 2008 grown by a compound annual growth rate of 21% and around 16% excluding acquisitions. Tobii’s net sales reached SEK 621 million in 2014, and SEK 745 million on a pro forma basis had DynaVox Systems LLC been part of the Group as of January 1, 2014.

The business units Tobii Dynavox and Tobii Pro are profitable with adjusted EBIT margins of 12% and 8% respectively in 2014. The business unit Tobii Tech invests heavily to develop its eye-tracking technology to meet demands from future volume markets and had a negative impact on the Group’s EBIT with SEK -122 million in 2014.

Net sales 2003-2014

Tobii Group Net Sales Graph 2003-2014 English

Net sales per business unit

SEK million 2014 2013 2012
Tobii Dynavox 442 234 206
Tobii Pro 167 171 147
Tobii Tech 37 21 3
Other 4 4 0
Eliminations -29 -17 0
The Group 621 413 356

Adjusted EBIT per business unit

SEK million 2014 2013 2012
Tobii Dynavox 54* 21 3
Tobii Pro 13 19 1
Tobii Tech -122 -85 -41
Other, net 1 8 -16
The Group -54** -37 -53

*Adjusted for non-recurring items related to acquisition of DynaVox Systems LLC in 2014.
**Adjusted for non-reccuring items related to the IPO.

Risk and Risk Management

Risks and uncertainties are a natural part of all business. Tobii works continuously to identify, assess and manage the risks to which the business is exposed. Read more