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julio 21, 2022

Tobii Dynavox Interim report second quarter 2022


  • Revenue grew 48% organically to SEK 288 million (165).
  • Adjusted for supplier disruptions in the comparative quarter of 2021, underlying organic growth was 23%.
  • Gross margin was 64% (64).
  • Operating profit totaled SEK 16 million (-23), corresponding to an operating margin of 5.5% (-14.1).
  • Cash flow after continuous investments amounted to SEK -27 million (-11).
  • Basic earnings per share totaled SEK 0.06 (-0.13) before dilution and SEK 0,06 (-0,12) after dilution.


  • Revenue grew 26% organically to SEK 535 million (372).
  • Adjusted for supplier disruptions in the comparative period of 2021, underlying organic growth was 10%.
  • Gross margin was 64% (66).
  • Operating profit totaled SEK 33 million (5), corresponding to an operating margin of 6.2% (1.3).
  • Cash flow after continuous investments amounted to SEK -55 million (37).
  • Basic earnings per share totaled SEK 0.15 (0.03) before and after dilution.



The underlying organic growth was strong in the quarter, clearly driven by our North American business. Europe and the rest of the world are growing but appear to be lagging behind somewhat and still burdened by the aftermath of the pandemic. Our margins continued to be impacted by high component prices, but unlike the same quarter last year, we now have no shortages of components or finished products. We believe that the extremes in component prices are of temporary nature. Demand for our products remains strong and is steadily growing, regardless of economic trends, which gives us strong confidence for the future.

Our net sales grew organically by about 23% in the quarter, adjusted for the supply disruptions we experienced in the second quarter of last year. Opportunities to meet with customers, prescribers and users have largely returned to normal since March, after a long period of pandemic-related restrictions. Our North American communication aids portfolio is characterized by strong demand across the board, including touch controlled devices such as the new TD I-110, software and the new Apple-based eye-controlled TD Pilot. There is also an unmet growing need from certain user groups that have been particularly affected by the pandemic restrictions, including children with autism.

In Europe and other markets outside North America, the picture is more diverse. The trend here generally lags behind since the prescribing process takes around 6-12 months, which is longer than in North America. Consequently, we anticipate that further positive effects of lifting the pandemic restrictions will be delayed until the second half of the year.

To avoid disruptions to the supply of our end products, we continue to prioritize the availability of input goods over costs. A well-stocked finished goods inventory also helps to minimize the risk of delivery problems and secures maintained sales.

At the same time, continued challenges in logistics and component supply entail a significantly lower than normal gross margin. We expect this situation to return to normal in due course. As a result, margins will gradually improve from today's historically low levels.


The acquisition of Acapela Group, which closed on April 29, clearly bore fruit already at the end of June with the launch of a new solution for saving and creating a synthetic version of one's own voice, known as "voice banking" and used in our software TD Talk. Acapela Group is the world leader in synthetic voices. By using their My-own-voice solution, people with conditions such as ALS can create their own synthetic voice and use it directly in TD Talk. The launch is an excellent example of the important new solutions for our users that can be created by cross-pollinating Acapela's innovative team and leading products with Tobii Dynavox communication aids.

The acquisitions of Irish Safe Care Technologies in early April and Danish ASK in July bring us even closer to our customers. As a result, we can help more people with disabilities to interact with the world around them. These deals are also an important part of our strategy to complement organic growth with acquisitions that bring us closer to our users and increase our ability to educate the market about the often life-changing opportunities our solutions can offer.


There is still a huge unmet need for communication aids around the world. Moreover, since our sales are almost entirely linked to prescriptions, they are independent of economic trends. Together, these factors ensure long-term sustainable and robust sales growth in the future, regardless of external economic developments.

Fredrik Ruben, CEO

Today at 09:00 a.m. CET, Tobii Dynavox will host a webcast presentation for media, analysts and investors. If you want to attend the webcast click the following link. The interim report and a recording of the webcast will be available here.

This is a translation of the Swedish original. In case of any inconsistency between the Swedish and English version, the Swedish version shall prevail.

This information is inside information that Tobii Dynavox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out below, at 07.30 CET on July 21st , 2022.



Linda Tybring
+ 46 (0)706 81 49 80




Tobii is the global leader in eye tracking. Our mission is to improve the world with technology that understands human attention and intent. Tobii operates through three business units: Tobii Dynavox makes specially designed computers that are controlled by eye movement or touch screens for use by people with special needs due to spinal cord injuries, CP, ALS or other medical conditions. Tobii Pro develops and sells eye tracking equipment and services used today by more than 3,500 companies and 2,500 research institutions, including 98 of the world’s 100 highest ranked universities. Tobii Tech supplies eye tracking technology for integration into consumer electronics and other products such as personal computers, virtual reality headsets, healthcare applications, automotive DMS and more. Tobii is headquartered in Sweden and is listed on Nasdaq Stockholm (TOBII). The group has over 1,000 employees. For more information: