Smart Eye Announces New Driver Monitoring System Design Win with Leading North American Car Manufacturer

GÖTEBORG, SWEDEN / ACCESSWIRE / September 24, 2024 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) has been selected to deliver its world-leading Driver Monitoring System (DMS) technology to a new car model. The estimated revenue of the order is SEK 10 million based on estimated product life cycle projections.

Gothenburg, Sweden - September 24, 2024 - Smart Eye, the leading developer of DMS software for the automotive industry, will deliver its technology to a new car model by an existing customer.

The customer is a leading North American car manufacturer with a global manufacturing footprint. This OEM has previously sourced Smart Eye's software for implementation in several of its earlier car models and has now chosen to extend the technology to a new vehicle

The new car model, including Smart Eye's technology, will go into production in China in 2026. The estimated revenue for the order is SEK 10 million, based on product life cycle volume projections.

"As we continue to strengthen our relationships with top-tier car manufacturers, this new design win underscores our commitment to delivering high-quality, reliable DMS solutions," said Martin Krantz, CEO and Founder of Smart Eye. "Our innovative technology continues to set the industry standard, and we are proud to provide the foundation for safer, more advanced vehicles worldwide."

Smart Eye has now received a total of 359 design wins from 22 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 8.235 billion. The estimated value over the product lifecycle from possible additional design wins with all 22 vehicle manufacturers is SEK 3.215 billion.

For more information:

Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se

About Smart Eye

Smart Eye is the leading provider of Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. The company is on a mission to bridge the gap between humans and machines for a safe and sustainable future. Supported by Affectiva and iMotions - companies it acquired in 2021 - Smart Eye's multimodal software and hardware solutions provide unparalleled insight into human behavior.

In automotive, Smart Eye's driver monitoring systems and interior sensing solutions improve road safety and the mobility experience. The company's eye tracking technology and iMotions biosensor software platform are also used in behavioral research to enable advanced research in academic and commercial sectors. In media analytics, Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with content, products, and services.

Founded in 1999, Smart Eye is a global company headquartered in Sweden, with customers including NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Polestar, Geely, Harvard University, 26 percent of the Fortune Global 500 companies, and over 1,300 research organizations around the world.

Visit www.smarteye.ai for more information.

Visit our investor web for more financial information: https://smarteye.se/investors/

Smart Eye is listed on the Nasdaq First North Growth Market. The Company's Certified Adviser is Carnegie Investment Bank AB (publ).

This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-09-24 14:30 CEST.

Attachments

Smart Eye Announces New Driver Monitoring System Design Win with Leading North American Car Manufacturer

SOURCE: Smart Eye

View the original press release on accesswire.com