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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
|
|
|---|---|---|---|---|
| -0.135 | -5.90% | 2.155 | 16:35:25 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.30 | 2.10 | 2.395 | 2.155 | 2.29 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
|---|
Posted at 25/3/2025 07:54 by smithless The interview re Seeing Machines CEO talks FY25 update & growth outlook with Proactive Investors Feb 26th hasn't helped. The man goes from super positive to super negative. He needs to take a leaf out of Smart Eyes CEO's approach and keep and even message. Smart Eye see growth in the current year and beyond - Seeing Machines?? SE are very light on KPI's I know, but deliver a consistent story. Investors in growth stocks need consistency. |
Posted at 24/2/2025 20:13 by nvhltd Just in the presentation to US investors in 2023, where again they banged on about the inflection point, they put a slide up stating that the TAM across the 3 verticals was $14Billion. Two years later and we're still waiting for the inflection point. |
Posted at 13/2/2025 19:19 by nvhltd It only matters to existing investors in Smarteye and Seeing Machines what the cash position is because both companies will be bought out at somepoint. Neither is going to the wall. Current investors might get wiped out, but both companies and their technology will survive.We're supposed to have the rear view mirror wrapped up and protected by patents. I remember at the town hall someone asking if the company would take legal action if some other company used the mirror. Total BS. Time for the CEO to be kicked out. |
Posted at 31/12/2024 15:52 by sipps To all Naysayers I say this."Did Mitisbushi invest £26 Million into SEE for fun and without carry out due diligence on the company, the competition, the future market for DMS and the value thereof or because they did all these things?" Happy new year to all SEE Investors. |
Posted at 23/12/2024 09:47 by base7 I am sure that Lombard & VSI appreciate that our prospects are substantially enhanced by todays collaboration with Mits - & that their prospects of increased returns also improved substantially.They were clearly aware of this deal & approved it although I appreciate that if they feel hard done by they could decide to sell In Market thereby creating a large overhang & depressing our share price My view is that they are more likely to remain supportive investors & could me tempted to buy more shares, In Market , than sell.Very positive news today & great to see Paul sounding so positive in todays Proactive interview. Merry Xmas & a happy & successful 2025 to you all -even the habitual moaners & groaners. |
Posted at 23/12/2024 07:25 by nvhltd More dilution today and 2 of our long term investors finally starting to give up.Paul yet again dresses this deal up as another positive step, but the reality is we've been forced to take raise cash at a ridiculously low share price Most if not all of that cash will probably be spent paying back Magna. The fall of this once great opportunity is truly staggering. Around 2 years ago we took a strategic investment from Magna at circa 11p. Two years later and despite the so called progress made we have another strategic investor paying just 4p for the privilege. Apart from the unknown benefits of this partnership for sales this is yet again a desperate deal from a desperate CEO who privately knows he hasn't delivered. |
Posted at 14/11/2024 10:24 by mirabeau Euro NCAP pushes for quality DMS, as provided by Seeing MachinesPosted on 13th November 2024 Following the publication of the 2026 Euro NCAP safety protocols, Seeing Machines is on the cusp of a significant re-rate as OEMs and Tier 1s race to meet higher performance requirements for driver/occupant monitoring. The two documents can be viewed here, courtesy of Colin Barnden, Principal Analyst at Semicast Research: Driver Engagement: Occupant Monitoring: The significance of these documents appear to have passed many investors by. However, no less a figure than Richard Schram, Technical Director at Euro NCAP, has confirmed to me that from January 1st, 2026 a new passenger car will not achieve a 5 star Euro NCAP safety rating in Europe unless it has a driver/occupant monitoring system that meets the criteria specified in these 2026 protocols. The implications of this news are huge for any OEM wishing to sell new passenger cars models in Europe. This is because, even though driver monitoring is mandatory in Europe from July 2026, Euro NCAP is effectively “pushing for higher performance than the regulation does”, according to Schram. This is great news for Seeing Machines as, being the most technically proficient provider of DMS/OMS with a fast to implement rearview mirror system, it offers the most realistic solution for many OEMs in that timeframe whose premium models will certainly require 5 star safety. [Elon Musk are you listening?] I’m therefore anticipating a raft of extensions to existing contracts as well as new contracts to secure its services via Magna, but also via its other partners over the next 6 months. I think that in the short term there will be such demand for its technology that its average selling price (ASP) will not drop significantly even as volumes expand. Moreover, that ASP is, I believe, already at a significant premium to its competitors. The upshot is that within the next 6 months, as SEE speeds towards 4m cars on the road with its technology, SEYE will be left in the dust, alongside Tobii and Cipia – which must be feeling the pain from the economic collapse of Israel. Seeing Machines itself has previously stated that it expects to take around 40 per cent of the global passenger car market for DMS by volume, 50 per cent by value. I’ve long held the view that 75 per cent by value is possible and I think this news from Euro NCAP confirms that there was a sound reason for my holding onto this stock, despite experiencing a roller-coaster ride. As OEMs, Tier 1s and fund managers realise the implications of this news I expect increased buying of SEE stock as it brushes off misplaced investor concerns. This should push the price up significantly. Call me paranoid but over the next 6-8 months I believe private investors should beware market makers shaking the tree in order to acquire their shares cheaply for institutional buyers. Of course, do your own research as this is only my opinion. Maybe my prediction of a 75 per cent market share of the global DMS market 8 years ago was a fluke. The writer holds stock in Seeing Machines. |
Posted at 05/11/2024 19:08 by mirabeau Auto industry woes affect Seeing MachinesPosted on 1st November 2024 While Seeing Machines’ FY24 results illustrated a year of significant progress, auto industry headwinds and a slower than expected ramp in Guardian Gen 3 sales have led to Stifel reducing its revenue estimates for FY25-26. This in turn has led to it reducing its DCF-based target price to 11.4p from 13p. It’s certainly disappointing news for shareholders but Peter McNally, analyst at Stifel, commented in a detailed note issued on October 31st: “Despite delays we maintain our positive stance on the shares moderating our target price to 11.4p (13.0p) and see the company extending its leadership with proven implementation and deployment into an increasingly regulated market.” Revenues for 2025 are now predicted to be US$73.1m with a pre-tax loss of $13.3m, while in 2026 revenues of $97.5m produced a pre-tax profit of $5m. Material uncertainty In the full Annual Report (on page 46), the auditor PWC also made a comment about ‘material uncertainty’, reflecting the cash outflow of $11.9m in the FY24 results. Personally, I believe they are only fulfilling their obligations to warn investors about potential risks (while also covering themselves), yet it is unsettling for green investors unused to the conservative ways of auditors. Stifel’s McNally certainly didn’t appear unduly concerned, stating: “We note the auditor’s “material uncertainty” comment but see a path to breakeven given strong (although reduced) operational drivers and cash costs containment”. He went on to explain his estimate changes and assumptions in detail: “We reduce FY25/26E revenue by 11%/17% assuming a slightly higher GM% of 64% (62%), driven by a slightly higher software mix resulting in a cash EBITDA loss of $14.9m ($10.8m) for FY25E but profit of $8.6m ($19.5m) in FY26E. This is based on stable cash opex of $65m, resulting in $9.8m cash at FY25E year-end and cash generation thereafter as royalties continue to ramp and Guardian Gen 3 volumes increase.” In his presentation today on Investor Meet, Paul McGlone reiterated that the company still expects to hit breakeven on a monthly basis in Q4 of this financial year. He went to explain that if additional working capital is required due to the lumpy nature of automotive revenues: “We have a reasonably simple solution in the form of receivables funding and that process is underway. We expect it to deliver additional working capital in the range of $5-10m.” Furthermore, he added: “To the extent that we need additional cash, we have a whole range of opportunities before us, some of which are well progressed and are consistent with the types of programmes or results that we’ve delivered in the last 2-3 years.” I assume here that he is referring to license deals which, as Stifel points out have had a dramatic effect on profitability and cash given its similar 100% gross margin nature to royalties. McNally teased in his note: “Licensing is very difficult to predict but the company has benefitted from licensing deals over the past few years from Magna for $5.4m in October 2022, Collins Aerospace for $10.0m in May 2023, and most recently Caterpillar for $16.5m in June 2024.” I’m therefore fairly confident Paul McGlone and his team will pull another rabbit out of the bag this year. Happily, it seems smarter people that me are thinking the same. Speaking directly about the cash concerns McNally wrote: “With $23.4m of cash on the balance sheet we feel that the company has sufficient cash for the year with the goal of reaching run-rate cash flow break even by the end of FY25E (June). The company also has a history of sourcing strategic funding and software license agreements that have benefited cash. We believe these options still exist and can provide additional cash if required.” Peel Hunt In a short note issued today Peel Hunt reiterated its ‘BUY’ rating but reduced its target price to 7p from 9p. Analyst Oliver Tipping stated: “Management has re-affirmed its commitment to reach a cash break-even run rate in FY25. However, we believe this could be challenging. “Ultimately, OEMs across the industry have been struggling and they dictate the speed of production. We fear timelines could shift to the right. “Seeing Machines’ ability to reach its break-even run rate goal is likely to hinge on its ability to control costs. Competitors, like Tobii, have already begun severe spending cuts and we believe Seeing Machines will require similar measures given its current cash burn rate of $2m a month. To account for wider industry weakness, we reduce our TP from 9p to 7p.” Reasons to be cheerful While the share price tanked on Thursday, as nervous private investors do what they usually do when real life intervenes; panic and sell low, there are reasons to be cheerful. In the Investor Meet presentation today Seeing Machines did confirm that for this financial year it expects: 1.9 – 2.1 million annual production units for Automotive, contributing to high-margin royalty revenue. A 20% increase in connected Guardian units generating monthly services revenue. 13,000 – 15,000 Guardian Gen 3 units to be sold, predominantly in Q2 at a much higher margin (50%) than previously with Gen 2 units (10%). Aviation to achieve Blue Label (functioning prototype) product delivery, adaptable for certain fields of use (simulator, air traffic control). Cash flow break-even run rate target at end of FY2025. In addition, during the Investor Meet presentation CEO Paul McGlone revealed that there has been a resurgence in the inflow of RFIs and RFQs for the auto industry. “We are currently processing RFQs for OEMS based in Japan, Korea, Europe, China and North America. The vehicles associated with those RFQs are largely for Europe, Japan and North America and would have start of production timing between 2027 and 2029. And we expect the sourcing of these programmes to begin in 2025 calendar year.” Thus, I think Peel Hunt’s fears of auto timelines shifting to the right are unfounded. Indeed, Seeing Machines has already suffered from that and the market is now hot for DMS/OMS once more. Amazing news? Regarding Gen 3 sales, I’m also hearing a whisper that Seeing Machines has begun trials with a global US online retailer, which is A household name. If they are successful and a deal is announced a few months from now I’m pretty confident the share price will soar on that news alone. Can you guess the name? I’ve been in this stock a long time, too long in truth. However, I’ve no intention of selling out when the company is so close to achieving breakeven. That’s because I believe it will trigger a bidding war. Do your own research of course. The writer holds stock in Seeing Machines. P.S. If anyone does make any money from this information do please consider making a small donation to a charity for the people in Gaza. As we worry about money they are being murdered en masse and ethnically cleansed, which according to international law constitutes genocide. Thanks. |
Posted at 10/10/2024 06:10 by nvhltd Paul sounds pretty downbeat to me in the new video and you definitely get the feeling he's been forced into responding to general investor concerns around the lack of new contracts and updates on sales / delivery / progress.He's been kicking the can down the road regarding auto wins since the day he took on the CEO's role. The prediction that new awards would flow at the end of 2023 and early 2024 has now been pushed back again to the end of 2024 and early 2025. Let's hope and pray he gets it right this time for once because the mantra and metric of doubling the amount of cars SEE has DMS fitted to is becoming more and more irrelevant. It's now down to growing the order book and quarterly sales, not how many cars are fitted with DMS. By now the order book should be sitting at $1 billion if they were meeting their publicly stated targets, but they are not and the share price reflects their lack of progress. Paul never really clarifies anything and investors are still left with more questions than answers. Fleet is typical of that. What did he actually clarify that gives investors confidence that we have more than a couple of small orders from a potential annual EU market size of 330K vehicles? What does production in significant numbers actually mean? Very disappointing interview driven by investor concerns and delivered by what looks like a downbeat and frustrated CEO. I wonder what author he was referring to for the commentary around the Magna rumours? |
Posted at 09/10/2024 06:17 by nvhltd Forgive me. Always happy to concede when I got something wrong. It was still BS whether it was adding a zero to 7p or 10p. Infact it makes it look worse because we can't even achieve 70p rather than 100p per share.The Italian Job investor video highlighted the depths CEO's will sink to in order to con investors out of their hard earned cash. How he can face people having made the statement about the 330 plane order shows these people have no moral compass. Then there's the hundreds of thousands of PO'S for Gen 3 also made 2 years ago from a European market size of 330K vehicles per year. Two years later and investors have no idea how many Gen 3 products are produced or sold or even demand ans orders. Something hasn't gone to plan in all 3 verticals and I for one would welcome some honesty for a change. |
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