Encouraging growth in a challenging environment
January -
· Net sales amounted to
· EBITDA amounted to
· Operating loss amounted to
· Earnings after tax per share is negative.
· Cash and cash equivalents totaled
· In February one new design win was received from one of Europe’s largest OEMs. The estimated revenue of the order is
· In April the company was selected by an existing customer to deliver its world-leading Driver Monitoring System software to three additional car models. The estimated revenue of the order is
Comments from the CEO
The pickup from the end of last year is continuing, but due to world events, at a sligtly slower pace than one could expect a quarter ago. The disruptions to global supply chains are affecting the automotive industry in two distinct ways: lower production volumes and longer development lead cycles. Although this is causing short term challenges, it’s important to stay focused on the long term goal of continue to be the market leaders in DMS and Interior Sensing, a position that will be increasingly valuable over time.
Automotive
Closing of the quarter we can summarize our recent success and current position within the automotive segment as follows;
· We now have 93 design wins with 14 different OEMs.
· It is to be expected that this stock of design wins will grow by the addition of more car models on existing platforms.
· 5 OEMs are in series production, thereby yielding license revenue.
· Software revenue is increasing, although hampered by hardware supply chain shortages.
· Deliveries of the fleet product AIS has started to a few select customers. The component sourcing situation is challenging but the market demand is rock solid. We are working hard to ramp up production during Q2.
During the quarter we have also spent time and effort to secure that we are in pole position to capitalize on the opportunities that we see ahead of us:
· We continue to participate in a large number of DMS procurements globally and we are standing strong.
· The Interior Sensing market continues to develop and there will be nominations this year and next.
· The deployment of safety critical software in Automotive is governed by a set of rules and processes called functional safety, or FuSa for short. Going forward we’ll deliver programs with FuSa requirements on the same level as the most advanced active safety systems. We are the leaders in this development and these requirements will increase in the future.
Research
The behavioral research side of
Final Words
Both Automotive and Research are affected by geopolitical events such as the war in
Martin Krantz
CEO
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