Smart Eye AB (publ) SEYE

First North | Technology | AI-based driver monitoring and eye-tracking
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Updated: 10 Nov 2026 Base analysis: 20 Jul 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Clear

Existing position may be maintained pending confirmation in the upcoming report.

Strong organic growth and regulatory tailwinds underpin the positive signal.

Market sentiment Positive ↑
Trend: Improving

The market reacted positively to the new design wins even though the share trades near lower levels.

Risk assessment Medium
Dilution: Medium Cash covers operations until break-even in H2 2026
Jurisdiction: Low Swedish company with global but EU-centric operations
Execution: Medium Dependent on OEM production starts and integration success
Cash flow: 15 mo

HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.

Latest change
  • 10 Nov 2026 — The trend shift is driven by new design wins and add-on orders that generated positive market commentary.

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About the company

Smart Eye develops Human Insight AI focused on Driver Monitoring Systems and Interior Sensing for the automotive industry. The company has grown organically through design wins and EU regulatory tailwinds. Operations are in a growth phase toward positive cash flow.

Sector: AI-based driver monitoring and eye-tracking
Type: Tech
Next report (Q3)
17 Nov 2026
Catalysts
○
Q4 2026
Free cash flow break-even High
Bull case

EU regulatory requirements from July 2026 drive volume growth and royalty revenues in the Automotive segment.

Bear case

Continued net losses and dependence on OEM production schedules create uncertainty around profitability.

Why this signal

Strong organic growth and regulatory tailwinds underpin the positive signal.

Recent news
  • Smart Eye has secured an add-on cabin monitoring order with a European OEM worth approximately SEK 20M and two new DMS design wins with a major Korean OEM worth approximately SEK 75M. Production start for both is scheduled during 2027.

Key figures

Revenue
Q2 2026
SEK 141M
Revenue TTM
TTM
SEK 489M
EBITDA
Q2 2026
SEK 27.4M
Net income
TTM
SEK -130M
Cash
Q2 2026
SEK 118M
Gross margin
Q2 2026
90.0%
Exchange
First North
Type
Technology
Sector
AI-based driver monitoring and eye-tracking
Smart Eye AB (publ) SEYE
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