Redeye updates its estimates on Smart Eye following the Q2 2025 report. Net sales came in below expectations due to FX headwinds, while EBITDA landed slightly ahead at SEK1.0m, the first quarter showing positive EBITDA since 2015. Automotive continues to show robust momentum with 42% organic growth, while Behavioral Research showed weaker-than-expected figures and -1% organic growth. With cost savings delivering better-than-anticipated effects and a strong license revenue ramp expected in H2, the stage is set for an exciting couple of quarters until the 2026 legislation kicks in.
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