Tobii AB (publ) today announced its results for the fourth quarter and full year of 2021.
Comment by Tobii’s CEO Anand Srivatsa:
“Looking back at 2021, I see a year of tremendous effort and solid achievement across the organization. Our business returned to healthy organic growth while we successfully executed the spin-off of Tobii Dynavox and integration of Tobii Pro and Tobii Tech. We end the year on a strong note and are confidently looking forward to an exciting 2022.”
Fourth quarter October - December 2021
Significant events during the period
Significant events after the period end
Comments from the CEO
Looking back at 2021, I see a year of tremendous effort and solid achievement across the organization. Our business returned to healthy organic growth while we successfully executed the spin-off of Tobii Dynavox and integration of Tobii Pro and Tobii Tech. We end the year on a strong note and are confidently looking forward to an exciting 2022.
2021 — an intense and unpredictable year
2021 was an intense year for large parts of the organization. The see-saw effect of the coronavirus pandemic strained supply chains, impacting our customers’ ability to ship products, and run studies. The global uncertainty and volatility forced us to implement dynamic ways of working, and I am proud of the dedication and successful delivery from the team. During all this, we also completed the spin-off of Tobii Dynavox and the integration of the remaining Tobii with business units Tobii Tech and Tobii Pro, which has laid the foundation for the new Tobii.
The new Tobii
The value created by the integration of Tobii Tech and Tobii Pro is already bearing fruit, and I am certain that we will continue to unlock untapped potential in the coming years. The new Tobii is a more focused company and a more clear-cut investment opportunity. It operates in the attention computing space and in highly attractive growth markets fueled by mega trends such as the metaverse, the attention economy, and the digitalization of education and healthcare.
Q4 2021 – healthy revenue growth and strong business progress
Recovery continued in most of our markets during the quarter. Our business delivered 10 % organic growth. Our Products and Solutions segment grew 2 % organically, reaching an all-time high, beating the pre-pandemic peak levels of Q4 2019, and our Integrations segment achieved an impressive 37 % organic growth. Gross profit rose 18% organically — raising our gross margin by a full 7 points to 77 %, driven by a mix shift toward licenses and software.
Our strategy to invest in technology leadership and market reach continued to yield results. Existing partnerships are deepening and new ones are forming, while our customer engagements are spanning ever larger parts of our markets. Examples announced in this quarter include our solutions integrated with Microsoft Flight Simulator, a partnership with the sensor vendor Omnivision for eye tracking systems in XR, and the development of a PC specialized for education purposes together with Intel and Tencent. Progress in this dimension is a key indicator of Tobii´s performance as it forms the central building blocks for long-term value creation and success.
The markets and ecosystems are developing in our favor
We are seeing stronger tailwinds in the markets and the ecosystems we operate in are moving in the right direction. I would like to specifically highlight the XR segment, which has experienced a marked increase in activity during 2021. I daresay, few have missed the hype around the metaverse. In its wake, we are experiencing unprecedented interest in our XR solutions, and our integration team is progressing deeply with multiple key accounts.
The uncertainty caused by COVID-19 and its variants remain high, and supply chain challenges remain present. Despite these external factors, we are exiting the year on a strong note and have a lot of confidence in our ability to execute during 2022.
Tobii is now ready for a new phase, where increased market adoption and a step-up of our sales and marketing efforts will drive stronger than historical organic growth. Our business momentum is strong, and we are looking forward to delivering on our ambition to build a global powerhouse in attention computing.
A conference call and online presentation will be held in English today at 9:00 a.m. (CET). The webcast link and presentation material will be available in the calendar entry on Tobii´s website ahead of the webcast. The year-end report and a recording of the webcast will be available on the same page after the publication and webcast. You can also attend the webcast through the following link.
This information is information that Tobii AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on February 8, 2022 at 7:30 a.m. CET.
Henrik Mawby, Head of Investor Relations, Tobii Group, phone: +46 (0)72 219 82 15, email: email@example.com
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 behavioral studies and research, healthcare, education and training, gaming, extended reality (VR, AR & MR), 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.