Tobii is the world leader in eye tracking, holds more than 50% of the global eye-tracking market and has many times higher sales than its closest competitor.
The Tobii Group has three business units that have their own distinct markets, products and organizations. Tobii Dynavox is the established market leader in assistive technology for communication and Tobii Pro holds the leading position in eye tracking for research and consumer surveys. Tobii invests in the third business unit, Tobii Tech, to reach future high-volume markets for eye tracking in primarily consumer products such as computers, gaming products, VR and mobile devices.
Since the business units operate on markets with different conditions and maturity, Tobii presents financial performance per business unit.
The updated financial goals adopted by the Board of Directors in connection with the Rights Issue are linked to the Company’s updated business plan for large-scale initiatives on eye tracking in virtual reality and smartphones. The financial goals for Tobii Dynavox and Tobii Pro remain unchanged while the goal for Tobii Tech has been updated.
Since the market for integration of eye tracking in volume products is at an early stage, the Company has chosen not to present a specific financial goal for Tobii Tech, but instead expresses a strategic long-term goal for the business unit's market position. This objective is complemented by the Company's assessment of market developments that are included in the prospectus prepared in connection with the Rights Issue 2016.
The Board considers that the Company, with the Rights Issue carried out, is fully funded to implement the updated business plan.
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.
Tobii’s net sales reached SEK 1,053 million in 2016. The business units Tobii Dynavox and Tobii Pro are profitable with adjusted EBIT margins of 16% and 6% respectively in 2016. The investments in Tobii Tech had a negative impact of SEK -207 million on the Group’s EBIT in 2016.
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.