Despite Tobii’s Q4 reports typically showing seasonally strong sales, the main focus of the upcoming report is likely to remain on costs, we believe. Since firm cost actions were announced in 2024, Tobii has reported some progress, although we expect continued measures to have been taken during Q4. We make small revisions (2024E-26E EBIT changed by SEK 0-2m) and reiterate our SEK 2.7-4.0 per share fair value range.

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