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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
|
|
|---|---|---|---|---|
| 0.16 | 3.96% | 4.20 | 15:39:37 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.015 | 4.015 | 4.45 | 4.04 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Top Posts |
|---|
Posted at 16/4/2024 19:02 by hazl mm927 Apr '24 - 12:37 - 19305 of 19311 Great post mm92. I think the management are great at their job but perhaps put that before commerciality. It has been a long time on the market, for investors. Nonetheless fascinating technology. |
Posted at 07/4/2024 12:51 by nvhltd The GSR deadline for this year is for the following:2024 Regulation mandates motor vehicles of categories M and N to be equipped with ADDW systems from 7 July 2024 for all new vehicle types. So if what Paul has stated previously is correct and there is a 2 year implementation phase from contract to SoP then we can deduce that there cannot be any more 'new vehicle types' coming in the next 2 years that we don't already know about. Any new contracts going forward will be to meet the second GSR in July 2026 which states this: 2026 Regulation mandates motor vehicles of categories M and N to be equipped with an ADDW system from 2026 for all new vehicle registrations. Because we haven't won any significant new contracts for almost 2 years what we have now is all we have for the foreseeable and any new contracts awarded going forward will take 2 years before SoP. The delays awarding new contracts is the biggest delay and threat to profitability and therefore share price appreciation for which Paul has to take alot of responsibility for continually telling investors that new contracts are imminent. |
Posted at 22/3/2024 08:12 by smithless How SEYE gets away with its PR utter nonsense investor interviews lies is just incredible. After saying they needed no cash to breakeven just a few weeks ago, they now raise £10m!!! I'm personally not surprised, as the recent news flow is highly suspect IMHO. How can investors believe anything they say. They have a broken business model. Too much Non reoccurring revenue on the hope it will pick up the business. |
Posted at 28/2/2024 11:55 by smithless I'm sure once the management come out of a closed period on 18 March, they will scoop up weak holders. I see Smart Eye goes on about design wins, which are basically non-reoccurring revenue at zero margin and the by magic can predict future revenues. The only really reliable way to forecast revenues is from awarded RFQ's of which SEE has half awarded. I feel investors frustration, but this is going to be big and has only just started. |
Posted at 26/2/2024 11:59 by snpout Exactly. Zero market credibility. The pish McGlone has spouted has created a scenario where serious investors won’t go near this. 50k plus fleet contracts where we were the sole bidders. Aircraft simulator deals in the 100s. Billion dollar auto rfq’s due 18-2 years ago. Proactive investor videos watched by the same 100 fanatics on the telegram cult thread. Appallingly pr and investor comms . The only thing that’s kept me here is the huge Lombard holding and Martin ive’s decent sized purchases. Even with that it’s hard to see 10p plus. I’d take 11p off magna in a nanosecond |
Posted at 17/2/2024 07:38 by nvhltd All theory, conjecture, dangling carrots, targets and spin at the moment.The whole G3 / 2024 GSR opportunity needs to be explained in detail to investors. There's no point making claims of hundreds of thousands of PO's received, a market size of 330K commercial vehicles per annum and a deadline 5 months away if they can't turn these drivers into sales. I'm going to be most annoyed if come July Paul starts coming out with all kinds of excuses about why we, Seeing Machines, with the only DMS product available and the only ones tendering don't deliver 80% plus of this market opportunity. However, I'm sure he will have his little black book of excuses ready to rattle out some lame reasons. |
Posted at 10/1/2024 10:18 by nvhltd Seeing Machines either deliberately or otherwise seem incapable of providing clear and consise information to investors in order to make investment decisions.Here's what we know. European commercial vehicles registration is circa 330K vehicles per year. From July 7th 2024 all commercial vehicles sold must have a system to detect drowsiness. From July 2026 all commercial vehicles sold must have a camera based DMS for drowsiness and distraction. The market size in 2024 alone is therefore 165K vehicles for dms to detect drowsiness. The 2 contract wins announced by Cipia and Smarteye state that in Cipia's case that the contract kicks in from Q4 2025 and Smarteye will begin production for their contract in 2025 and ramp up significantly in 2026. What I don't know and I'm trying to find out from Sophie is whether the system required this year to meet the 2024 GSR requirements for drowsiness is a CAMERA BASED DMS or is there a non camera based system out there that satisfies the first GSR regulation? I agree that we are rapidly losing our first mover advantage and that Paul's claims that it is technically challenging to develop a DMS is no longer valid. In fact I never believed the hype around the rear view mirror being the holy grail of locations or the strength of any patents to prevent others from developing their own system in the mirror. Just the area around the mirror is an easy position for any car maker to install dms without the need to greatly increase costs with different models. Our exclusive arrangement with Magna hasn't yielded the sales we all hoped for so far and we're almost half way through that exclusive arrangement. It won't be long before Magna start to talk to Smarteye, Cipia or Jungo about integrating their systems in their mirrors to drive down costs, provide customers with options and drive system developments. So assuming that the DMS system to meet the July 2024 deadline is a camera based system and given the announcements from Cipia and Smarteye that their contracts announced so far don't kick in until late 2025 then who is going to supply the 165K commercial vehicles with a DMS system for detecting drowsiness from July 2024? Literally 6 months away! Something doesn't add up or make sense at the moment and it's like getting blood from a stone to get clarity from Seeing Machines. I can only assume and deduct that the DMS required by July 2024 doesn't have to be a camera based system to detect drowsiness and that there are many suppliers of such systems? In the car space the claim by Paul that contract awards are being delayed by the OEM's themselves while they seek to add features just doesn't stack up when we look at the contract wins Smarteye have won over the past 18 months. Since the start of 2022 we have won a total of 5 new contracts where Smarteye have announced 17. Now we can argue about the values, volumes, prestige on the OEM etc all we like it's up to Paul and Seeing Machines to convince their investors that what they say is truthful and that we are still on track to gain 40% of the market by volume and 50% by revenue. At the town hall meeting he was bragging that in 2021 we won 80% of all DMS business and they were confident of winning 60% in 2022. Well 2023 based on the contracts announced must have been a disaster for our share of contracts awarded. |
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 15/12/2023 22:02 by nvhltd I do follow Colin.I disagree with you on the cash position in ours and Smarteye case because their product is selling and regulated for use. If the cash runs out both companies would be bought. Existing shareholders are the ones that would lose out and not the company itself. In our case at the very least Magna would take us over. The critical thing at this stage is does the tech work and if it does the cash position is irrelevant because we'd be bought. It's not such an concern for existing shareholders in SEE yet, but it is for Smarteye investors, but not the company. My point is posters keep banging on about Smarteye's cash position and I'm saying that at this point it's irrelevant to the company itself because it's proven to work and won't be allowed to fail now so close to mass market adoption of dms. It would be bought and the losers will be current investors and not the company. It will survive regardless (within reason). |
Posted at 08/12/2023 15:28 by nvhltd It's been more than a year since the infamous 'Italian Job' was posted where Paul told a bunch of privileged Italian investors that the company would land a 330 aircraft order before the end of 2022. What a load of BS that was. They don't even have an aircraft product developed. Work only started on developing an aircraft product in July after the announcement of the deal with Collins.God knows how long now he has been promising auto deals. The last declaration was that they were working on 12 RFQ's. Since June 21 they have only announced 2 tiny orders. However, Despite the excuses Paul continues to dangle a carrot infront of our noses. His latest claim was that there will be multiple wins before the end of the calendar year. Well time is running out on yet another Paul target. No doubt he'll peddle the same BS that it's the OEM's fault for wanting more and more features and he thinks that's the right call. The trouble is Paul you need to keep your mouth shut unless you are sure what and when they want it otherwise you run the risk of becoming a typical ceo that cannot be trusted and doesn't deliver. Meanwhile Smarteye win new orders. People can knock them all they like, but they are at least announcing contract wins. I also noticed another company has entered and won a commercial vehicle DMS contract. So much for being the only company with a product in the commercial space and so much for the years and years of development and collection of real world data etc. It just goes to show that just like any other product if there's a market plenty of companies will come and fill it. With Gen3 just about to launch, regulatory deadlines fast approaching and with first mover advantage there can be no more excuses. Calendar year 2024 must be the year that Paul and SEE start to deliver otherwise I think we will start to lose credibility. Investors have waited long enough for this company to start making money. The years fly by and believe me it won't be long before the Magna CLN becomes a noose around the companies neck. So come on Paul where are these auto contracts? Eventually the metric of SEE DMS installed will be come irrelevant. The metric we all want to see is how many DMS sales the company have per quarter and annually. No one cares how many Apple phones are in use. Investors want to know how many phones they are selling and their market share. |
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