Tobii Continues Revenue Growth, Operating Loss

Eye-tracking hardware and software firm Tobii AB has reported net sales of SEK 313m ($US 34.2) in the third quarter of 2018, a rise of 14% excluding currency effects. It has also acquired British assistive communication software firm Smartbox, for £11m in cash.

Third quarter gross margin was 71%, down from 73% a year earlier, while operating loss was increased 22% to SEK -60m ($US 6.6m), driven as usual by investments in the Tobii Tech division, which this month unveiled a new platform, Tobii IS5, for integration in computers, screens and computer accessories. Ten days ago the company launched Tobii Pro Nano, described as the world's smallest research-grade eye tracker.

The net sales increase is similar to that in the second quarter (up 15% at constant currency to SEK 307m), while the operating loss is also very similar and the increase in it cancels out last quarter's decrease (Q2 SEK -59m, down from SEK -71m last year).

CEO Henrik Eskilsson (pictured) pointed to strong growth in Tobii Dynavox and a strategic VR customer agreement for Tobii Tech as highlights of a 'good quarter', and said the Smartbox buy (which closed on October 1st) complements the Dynavox division's portfolio and strengthens its sales presence in key geographic markets. Smartbox has main offices in Malvern and Bristol, UK and employs about 70 people.

Tobii is headquartered in Sweden, has around 1,000 employees and is listed on Nasdaq Stockholm (TOBII). Web site: www.tobii.com .