Smart Eye preview Q1’25: Minor revisions, expecting sequential auto growth - Redeye

Redeye expects Smart Eye’s Q1 report, due May 13, to show 12% y/y net sales growth and an EBITDA improvement to SEK-10m from SEK-23m last year. We expect NRE revenue to decline sequentially, while license revenue is estimated to continue its upward momentum. As General Motors, one of Smart Eye’s customers, posted softer-than-expected sales figures for its EV lineup, we take a slightly more cautious stance and make minor downward revisions to our Q1 2025 automotive sales forecast. Procurement activity remains high, and Smart Eye should be involved in at least seven ongoing procurements, indicating a promising news flow ahead.

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