We're doomed, doomed. |
Strikes now taking place at VW. That's going to aff3ct sales for sure.
Nissan have give themselves 12 months.
China seems to be taking market share. Rather short sighted of Paul not to focus on that market. |
Blimey so it's worthless then. |
 Well here we are at the start of December and what a poor year it has been. They proclaimed that early 2024 was going to deliver the long awaited RFQ's they have teased for years and they were going to be bigger and better as a result. Nothing has materialised. Infact 2024 has to go down as one of the worst years for SEE when you consider how close we are to breakeven and the implementation of the second GSR in circa 18 months time.
Year to date the share price is down 41% reflecting the dire progress made.
Profitability targets have been missed. We've been railroaded into a poor deal with catapiller to shore up the ever diminishing cash position and we're now using a factoring service to get the cash in which itself carries a cost burden.
Sales of dms didn't hit target and the perilous state of the global car market is almost certainly going to have a negative affect on this year's growth. Our largest customer is now on strike so quarterly sales targets are going to be short too.
The optimism around Gen 3 and the potential size of the market that Paul communicated to shareholders at the town hall meeting 2 years ago has evaporated like all his other claims around inflection points. Sales forecasts, if you can call them that, are miserly when we consider they trumpeted this game changing product with technical advantages, cost savings, margin expansion, favourable new regulations and a market size of 330K commercial vehicles in Europe alone. It turns out nobody wants it until they have to in 20 months time which is also evidenced by the fact that only 2 clients have gone through the homologation process.
Then there was the much trumpeted Sales alliance with Mobileye which again delivered zip in the way of sales and has quietly disappeared without comment until forced to do so by investors.
The only potential sign of optimism has to be the 18 months left to go before the second GSR comes into play, however, we have to be concerned why, when it takes 2 years of engineering development, the 'missing' OEM'S have still not shown their hand? |
Here he comes.
Just when things starting look exciting Mr glass Empty comes along for a winge.
Cheer up Nvh the futures bright, the futures Seeing Machines. |
More than 2 weeks since the results presentation and still no answers to the written pre meeting questions. Typical |
Just watched Smart Eye presentation via their investor relations company Red Eye and the CEO does have a way of spinning no new into something glowingly positive. From what I can see its all non reoccurring revenue on tiny margins. But his punters lap it up. Next placing early next year as usual is my prediction, on the back of spin that translates to nothing. |
Wishful thinking as it's in a relentless death spiral. |
SEE's nearly there with new laws coming into force in 2026 so the automakers are gonna be rushing to install in 2025..
even a small placing wouldn't bother me if we knew more orders had been placed. the damaging placings are those that raise cash to 'keep the lights on' rather than placings whose purpose is too expand the business in response to further orders |
Bought back in. Paul said they are now seeing new orders or RDQs after a freeze. Might be many announcements.
I think they have enough cash to avoid a placing. |
Euro NCAP pushes for quality DMS, as provided by Seeing Machines
Posted 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. |
Colin Barden
BREAKING: Euro NCAP - For Safer Cars, Vans & Trucks has today published the protocols for Safe Driving covering Driver Engagement and Occupant Monitoring, for implementation starting January 2026. The links to the PDFs are:
Driver Engagement:
Occupant Monitoring:
The future roadmap of #driver and #occupant #monitoring #DMS #OMS is there in those two documents. To the OEMs, tier-1s and tier-2s in my network, over to you.
For institutional investors, family offices, and others seeking an expert third-party source to understand comparisons between Cipia, Seeing Machines, Smart Eye, and Tobii, I can be booked for telephone-based consultancy via GLG, Guidepoint, and Third Bridge Group Limited. Just ask for me by name.
The 2025 edition of Semicast's automotive DMS report will be published on November 18. Message me for full details. |
Yes the potential is enormous but they must avoid a cash raise. |
There must also be a possibility of our winning contracts from competitors whose products don’t offer the features offered by us & required by the new regulations & may therefore not be fit for purpose |
See ncap protocols are out for DMS effective from Jan 2026. No more cheap DMS, requirements are complex and will benefit mostly SEE as it can for fill all the conditions, and via Magna can be installed quickly to meet the deadline. Other countries are now likely to follow. |
Difficult to see how things can be so bad that they need more cash.
Let's hope we start seeing new RFQs after such a long pause. |
Link with the start set @4:18 :- |
Martin Ive faces the question of the Auditors comment from the financial report from 4:18 onwards. Superbly explained and in enough detail that even the lowest here will be able to understand.
Paul McGlone emphasised Seeing Machines’ automotive expansion, stating, “Greater than 2.6 million cars on the road, eight programs in production clearly demonstrates our ability to get programs over the line.”
This quarter alone, the company reported over 405,000 vehicles.
Seeing Machines is optimistic for the future due to strong automotive penetration rates, regulatory-driven demand and forward-looking production timelines. |
Pro Active presentation is pragmatic clear & optimistic .I would like to see a resumption of Director buying -especially as the long awaited RFQs appear to be up for grabs again |
Worth listening to unless you have to close out a short |
Record breaking quarter for number of cars on the road against all other DMS suppliers in the world
100% increase in number of cars on the road from this time last year as predicted
Re-iterated cash flow breakeven run rate by the end of the end of the financial year
KPI's right on track and an assured delivery
New presentation by the CEO to watch |
Continued growth |
And fleet why such a low volume? |
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