Eye-tracking tech firm Tobii AB has reported results for the fourth quarter and full year 2016, with SEK 1,053m ($119m) in annual sales, and increasing cash reserves for investment in VR and smartphones.
Tobii's three business units are Dynavox, making computers controlled by eye movement or touch screens for use by people with special needs / medical conditions; Tobii Pro which develops and sells eye-tracking equipment and services for corporate and academic clients; and Tobii Tech which further develops its products for new volume markets including computer games, PCs, virtual reality and vehicles. The firm is headquartered in Sweden and employs more than 700.
Fourth quarter sales were SEK 306m, up 6%, or 10% allowing for currency and one-off effects. Gross margin was 71% (76%) and operating loss SEK -10 million (-3) - the last reflecting investments in Tobii Tech which had a negative impact of SEK -64 million (-59).
For the year, sales were SEK 1,053m, up 9% (no currency effect). Gross margin was 72% (75%), and operating loss SEK -67m (-36) with Tobii Tech investments having a negative impact of SEK -207m (-176m).
Last year Tobii grew sales by 41% (constant currency) but this was in large part due to its acquisition in 2014 of Dynavox.
CEO Henrik Eskilsson (pictured) says that during 2016 the group 'passed key milestones in computer gaming, and... together with Huawei, took its first step into the smartphone market'. He continues: 'The rights issue that we recently carried out provides us with the muscle to further increase the pace of investment and address more areas simultaneously within Tobii Tech. We also continued to invest in market and product development in Tobii Dynavox and Tobii Pro to further grow and increase profitability over the long-term'.
Web site: www.tobii.com .