Smart Eye AB (publ) SEYE

First North | Technology | AI-based driver monitoring and eye-tracking
Follow Smart Eye free Follow free

Email when the signal or risk changes · Sunday weekly brief

No card · No time limit on free tier · Upgrade when you need more

Updated: 26 Sep 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 are balanced by continued negative cash flow and execution risks around order-book scaling.

Market sentiment Positive ↓
Trend: Declining

The market reacted negatively to the Q2 report despite strong growth, focusing on continued cash burn and high expectations that were not fully met.

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
  • 27 Aug 2026 — The report showed strong growth but the market reacted negatively to ongoing cash burn and cost development.
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 are balanced by continued negative cash flow and execution risks around order-book scaling.

Recent news
  • Smart Eye launched the world's first multimodal automotive AI agent at InCabin Europe in September, combining human, vehicle and environmental data. Partnerships with NOVELIC for radar-camera fusion and Akkodis for Euro NCAP solutions were announced while short interest reached a record 6.1 %.

Key figures

Revenue
Q2 2026
SEK 141M
Revenue TTM
TTM
SEK 489M
EBITDA
Q2 2026
SEK 27.4M
Net income
Q2 2026
SEK -27.0M
Cash
as_of
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
Smart Eye — this picture changes. Follow free
Follow Smart Eye free Follow free
Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.