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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Seeing Machines Limited | SEE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.005 | -0.12% | 4.035 | 08:59:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.015 | 4.015 | 4.055 | 4.04 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
|---|
Posted at 23/4/2024 11:03 by 2xs SEE owe Magna $47.5mm. This is due in 2026. SEE can opt to pay the interest in shares. Magna can opt to receive either cash or equity for the principal. If it is equity then the SEE price used is 11p. |
Posted at 23/4/2024 10:02 by masarap Could any holder clarify whether it's SEE or Magna that has the option to choose between repaying the Convertible Loan Note (CLN) issued to Magna or allowing Magna to convert it at 11p? Clearly SEE can pay it back but they will just let Magna convert if the decision rests with them but can Magna insist on repayment?From my understanding, it's SEE that has this choice and it would place the company in a favourable position. However, I've come across several posts indicating that the decision lies with Magna. The share price at 4p also indicates that SEE might be forced to pay back. I don't currently hold any position, but I have been following the company for a while. |
Posted at 23/4/2024 07:02 by hope1815 On the share price, fall since 18 March both Smart Eye AB and Seeing Machines have fallen almost the same % have you compare.Smart Eye 18 March 2024 100.10 Sek 18 March 2024 77.90 Sek Seeing Machines 18 March 2024 see 5.05 18 April 2024 4.29 People worry about the share price of both companies but for me, it's the longer-term view. Which company has better partnerships in the Industries(Fleet. Planes, Cars)? Looking at the longer term view SEE order book unwinding which is translating to cars on the road which leads to Revenue and Royalty. On the entry point 4 pence is low but as the months roll on and results come in people may look back and think. Happy Investing |
Posted at 04/4/2024 09:52 by smithless Likewise I got in too early, but my rational for my investment still stands.Magna paid £51m for a 9.9% stake in SEE, back in Oct 22, so they valued the IP for this exclusive licence at considerably more than todays mkt cap and at a stage when it hadn't even got a patent on the rear view mirror. This licence only runs to June 25. If Magna's solution is the right one (logic would dictate it is for any volume OEM) it will have to renew the licence at considerably more than the US 17.5m back in Oct 22 or just buy the business. There are other competitors, but I find it comforting that the principal tier 1's and semi-conductor companies have gone with SEE. Lot of punters in this stock who came in via two recent tips in newspapers, who were expecting more news near term. That hot money is now exiting. Compared to all its other competitors SEE is the only one that gives real world numbers to work on, with an actual order book. What happens in world macro economics is out of everyone's control, but I think SEE will be one of the survivors. |
Posted at 08/2/2024 16:12 by longsight Stifel released a new report on Seeing Machines this morning on 8th February 2024. What do they say?Searching for: Stifel report Seeing Machines 8th February 2024 Generating answers for you… Certainly! Stifel’s latest report on Seeing Machines, published on February 8, 2024, provides valuable insights into the company’s current status and growth trajectory. Here are the key takeaways from the report: Financial Performance: Underlying Revenue growth for the first half of FY2024 (H1 FY2024) stands at an impressive 28%, reaching US$25.6 million (excluding one-off Magna exclusivity payments). The reported revenue growth, including these one-offs, is 5%. Annualized Recurring Revenues increased by 22% year on year, reaching US$14.5 million. The company’s cash position as of December 31, 2023, is US$22.2 million, with a cash burn of US$13.9 million. Receivables and inventory balance is US$31.1 million, and a working capital unwind of $5-6 million is expected in H2 FY2024. Operational Highlights: Seeing Machines has been appointed by an existing European Tier 1 customer to deliver its FOVIO Driver Monitoring System (DMS) technology for a new European OEM. Initially, the focus is on enhanced regulatory-focused DMS features, with an initial lifetime value of US$30 million. Additionally, the company has been appointed by another existing Tier 1 customer to deliver FOVIO DMS technology on an additional program for an existing European OEM. This program targets safety regulation expectations, with an initial lifetime value of US$15 million. Overall, Seeing Machines has now been appointed to deliver 17 Automotive programs with 11 individual OEM customers, building the cumulative initial lifetime value of all OEM programs to US$366 million. Collins Aerospace, in an exclusive collaboration with Seeing Machines, has initiated joint development of the world’s first aviation fatigue detection solution—a potential multi-modal Pilot Support System. The company’s Aftermarket DMS, Guardian Generation 3, was independently tested and assessed to meet requirements for drowsiness detection in the European Commission’s General Safety Regulation, effective from July 2024. Post-Period Highlights: At CES 2024 (the world’s largest technology conference held in Las Vegas), Seeing Machines successfully launched Guardian Generation 3. The company also announced the beginning of regulatory-driven sales with three European OEMs in anticipation of the General Safety Regulation requirements. CES 2024 meetings covered demonstrations of the Company’s latest FOVIO driver and occupant monitoring suite, showcasing advanced R&D-based technology to technology partners, regulators, Tier 1 and OEM customers, investors, and media 1. In summary, Seeing Machines continues its transparent growth trajectory, backed by strong financial performance and strategic collaborations in the automotive industry. |
Posted at 27/12/2023 07:23 by ali47fish Seeing Machines shares 'highly attractive', says US investment bankPublished: 14:04 20 Dec 2023 GMT Seeing Machines Ltd - Shares in Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) were marked higher in the wake of its 17th major automotive contract for its driver monitoring technology. The eye-tracking specialist didn’t name the latest customer but said the lifetime value of the new business was US$30 million. “With the impending regulatory deadlines for driver monitoring systems in the EU, it is no surprise to see an acceleration in the award of OEM contracts,” said broker Peel Hunt. Under the bloc’s new General Safety Regulation, DMS will soon become mandatory on European roads. To date, Seeing Machines has won business worth US$336 million, with most of that revenue due in the next five years. “We believe it is still in the early stages of a regulatory-driven demand cycle for DMS/OMS technology,” said US investment bank Stifel in a note. Stifel thinks the shares, up 0.1p at 5.2p, are “highly attractive for a market leader in a large industry”. Peel Hunt’s target price is 12p. |
Posted at 22/12/2023 08:46 by mirabeau Many thanks to Safestocks for his/her work -Peel Hunt note questions Smart Eye and Seeing Machines comparison Posted on 22nd December 2023 Peet Hunt Analyst Oliver Tipping has issued a broker note on Seeing Machines that questions the contract size for Smart Eye’s recent US$150m win, while stating that Seeing Machines puts out minimum values for its wins. This is a point I made recently but, coming from Peel Hunt, it confirms it for any doubters out there. Still, the most important point made in the note was that aside from its most recent $30m win, there are many more auto contracts expected to be announced by Seeing Machines early in the New Year. Tipping wrote: “This win was the first of the major European contracts Seeing Machines was hoping to win before the end of the year, thus its pipeline remains robust as it looks to deliver more wins in early 2024.” The numbers game Tipping also confirmed that Seeing Machines is very conservative regarding its contract values: “It is important to remember that the contract value Seeing Machines reports is conservatively based off minimum production volumes, which are likely to be far lower than the actual production values for these contracts.” Then he went on to caution investors. “It is vital for investors to be aware of the differences between the numbers thrown around by different companies in the DMS market. For example, it would be easy to be distracted by the SEK 1.55bn (US$150m) figure quoted in Smart Eye’s most recent win (which we believe to be General Motors). However, we are unclear how this figure has been calculated as Smart Eye does not disclose its method for calculating the value of these contacts. In addition, this contract was as a tier 1 supplier to the OEM. Given it currently acts as a tier 2 supplier to this OEM, its CEO stated volume as a tier 1 supplier is only likely to ramp in 2029, into the 2030s (not from 2027 as mentioned in the RNS) and thus has no impact on cash generation in the short to medium term.” Tipping went on to stress that the key indicator of success is cars on the road, stating: “Until Smart Eye starts reporting this number, the tangibility and true worth of the contract wins remains unclear.” Still, I’m sure the figures put out by Smart Eye will help it immensely in any future fundraising efforts. Aside from dealing a knock-out blow to those who think Smart Eye is the global leader in driver and occupant monitoring, the note maintained its ‘Buy’ stance on Seeing Machines and its 12p price target. Importantly, it also confirmed that Seeing Machines has, as promised by CFO Martin Ives, started to cut its expenditure. Analyst Oliver Tipping wrote: “Management confirmed that it has executed the first of its cost-cutting measures aimed at bringing the cash burn down to break-even by FY25 (-$3m a month exit run rate from FY23). We await further details in the 1H24 update, but this will be crucial in underpinning the long-term viability of the business. For now, the company has a strong balance sheet, which should see it to its targeted break-even date.” Auto contracts worth $1bn With its latest win Seeing Machines now has auto contracts officially worth US$366m. However, as previously stated, given Seeing Machines propensity to cite minimum values that turn out to be much larger, I believe the real worth of those contracts is approximately 3 times that. Yes, $1bn! Why is that significant? Well $1bn in auto contracts surely makes it a very desirable candidate for a takeover in the very near future, particularly as it is soon to hit break-even. With the move to assisted driving taking over from dreams of full autonomy and legislation coming into effect this year in Europe that mandates driver monitoring, the future is looking very bright for Seeing Machines. The writer holds stock in Seeing Machines. |
Posted at 21/12/2023 15:21 by buggy Jpuff,In case this is a genuine question, the answer is two fold: 1. This technology has not fully taken off, not a huge volume of cars with this at the moment as it is a nice to have feature at the moment. 2. PM the CEO seems to promise much and miss his own deadline for delivery. Having said that, the first point is about to change as DMS is to become a mandatory requirements for autos in Europe. With respect to second point, PM is just far to optimistic in his timeline but the inflection point is this coming year when all the stars align. Regulatory tailwinds will drive mass adoption. Despite many miss-steps by the CEO this share will do very well as there are few genuine competitors in this space, [ one being Smart Eye, irrespective of what some on SEE BB will want you to believe]. Smart Eye and SEE will carve up the majority or orders in this space. Other reasons why you may consider researching to see if you should buy in are: a) The Fleet market is huge and will the associated monitoring services is another element which is often ignored by most. Fleet will easily be turning over £100M if they can reach 200,000 connections, which is not far away once Gen 3 is lunched. b) Gen 3 which is the 3rd Generation Guardian is scheduled to be finally lunched at CES 2024 ( 6th Jan 2024, I believe). c) The aircraft business will probably take 2 years to start showing something but again is very lucrative. [ SEE is in exclusive agreement with Collins, and they are currently in the development phase of products to take to the market]. My view: In spite of some management mis-steps I believe that this will do well because the time for the technology has arrived and there are not many genuine competitors. Disclaimer: I hold shares in SEE. I think that the management could have done better but then I suppose their is always room for improvement where ever you are. This is not an investment advice , just an attempt to give you what I consider to be an honest answer. You can then do you own research and se if this suits your investment criteria. NOTE: My Personal view: I believe that it will make another step increase once Gen 3 is launched at CES 2024 ( 6th Jan 2024). |
Posted at 26/10/2023 14:23 by nvhltd Hazl: it's basically a loan plus interest that is rolled over until the termination date. At that point Magna will either convert the value of the loan plus interest into shares at 11p.One caveat to this is in the details of the CLN itself as the terms will dictate which party has the power to pay in shares or cash and when. They can also opt for the loan to be repaid with the interest at the termination date. In many ways they are in a win win situation assuming that by the termination date SEE are still a viable business whatsoever the share price If the share price is 22p by the termination date they will almost certainly opt to have the loan paid back in share. In other words they will double their investment. It remains to be see how a placing of those shares of circa 9% on the day of listing will cause the share price to react. Normally it will drive the share price down which is why existing shareholders might lose at least in the short term. If however SEE does not see any improvement in the share price by termination Magna will have 2 choices. Call in the loan or convert at 5p which would be twice the amount of shares needed to raise the cash necessary to pay the loan back. If the share price is still at these levels in 3 years time then SEE management will have failed miserably to deliver on their plans. I'm not expecting that, but what we have seen over the past few years is the inability of SEE to del8ver meaningful revenues, miss targets and any good news has not delivered share price appreciation. So anything is possible. Despite the hype around the Magna deal it was still a loan for the most part that needs to be paid back one way or another and the clock is ticking. One year has already gone. 2024 we are still loss making, 2025 is break even. 2026 possible profit and the debt is due. |
Posted at 19/7/2023 09:23 by nvhltd Sent today.Hi Sophie, As a longterm investor in Seeing Machines I am growing increasingly frustrated by the disconnect between the upbeat statements Paul makes and the reality on the ground. On the 28th November 2022 Paul mentioned in a Proactive video interview that the RFQ's for automotive had increased from 6 to 12. Apart from the "additional " OEM program announcement on December 22nd 2022 the last 'new' OEM order was announced 16th June 2022 - more than a year ago! Something is not right when so many RFQ's are announced, but appear to deliver little or no positive outcomes. Meanwhile our competitors seem to be announcing new business. We know that OEM's seem to be forever increasing their shopping list of desired features, but the delays announcing new contracts from the open 12 RFQ's seem to be at odds with the deadlines set for mandatory DMS installation in current and new vehicles particularly given the time it takes from contracts being awarded and the engineering requirements to incorporate a DMS into a new vehicle. Seeing Machines have announced several collaboration agreements over the past 12 months and indeed several years, but despite the calibre of each of those partners investors never see or hear of anything tangible that results from those agreements. Indeed despite the global presence, size and market domination of our collaboration partners together with Seeing Machines size in the DMS space our competitors seem to be competing rather well without such high value partners. Given the hype around the market size, the regulatory deadlines, Seeing Machines size and status within the DMS OEM's and our partnership agreements I am surprised and a little concerned that our market penetration forecasts are so low? Are you able to provide any positive information about the outstanding 12 RFQ's or when Guardian 3 will be released? Regards, |
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