Q2 2024 Terranet AB Earnings Call Transcript
Key Points
- Terranet AB (FRA:TE5) was selected for the prestigious MobilityXLab program, allowing collaboration with leading automotive companies and Tier 1 suppliers.
- Significant progress was made with BlincVision, evolving from a conceptual prototype to being successfully integrated and tested in moving vehicles.
- The company is involved in a strategic vehicle research innovation project aimed at improving traffic safety, with key partners like Trafikverket and AstaZero.
- Terranet AB (FRA:TE5) successfully issued new shares, raising SEK12.6 million, demonstrating strong shareholder confidence and commitment.
- The company is actively working on product development, including miniaturization and AI-based object perception technology, to enhance system performance.
- The company is still in the prototype phase, making it difficult to estimate the end volume price for BlincVision.
- There is uncertainty regarding the mandatory adoption of BlincVision by regulatory bodies like Euro NCAP.
- Terranet AB (FRA:TE5) is heavily reliant on securing partnerships with OEMs and Tier 1 suppliers, which are yet to be formalized.
- The company faces challenges in adapting its system to meet the specific communication interface requirements of OEMs and Tier 1 suppliers.
- Despite progress, the company is still working on securing additional funding beyond the TO8 warrant program.
Good morning, ladies and gentlemen, and very much welcome to this presentation of the second quarter for Terranet. My name is [Issa Hood]. And with me on the line, I also have Magnus Andersson, CEO; and Pierre Ekwall, CTO. We will start off by a video of the highlights from the quarter and then go on to an interview. Lastly, we will have a Q&A section. (Event Instructions). Very welcome.
(video playing)
Hi, and welcome back. We're now starting with the interview section of this presentation. And with me on the line, I have here CEO, Magnus Andersson; and CTO, Pierre Ekwall. Very much welcome, you two guys, on the line as well.
Thank you.
Thank you.
Questions & Answers
I think we'll just -- we'll start right away with you, Magnus. Congratulations on being selected for the MobilityXLab thing. That sounds really interesting. This was announced in June,
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