Seeing Machines Share Discussion Threads

[skinny] 01/2/2021 07:01

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Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, publishes a trading update for the six months to 31 December 2020 ("H1 2021").

The Company expects to report revenue for H1 2021 of A$18.1m (H1 2020: A$15.8m), a 14.6% increase. Total connected Guardian units at 31 December 2020 was 26,597, securing forward Annualised Recurring Revenues including royalties of A$15.5m (H1 2020: A$13.2m, +17.4%). This represents an increase of 3,182 Guardian units in H1 2021 with additional hardware sales of 3,371 units still to be connected. Cash position at 31 December 2020 of A$52.7m (H1 2020: A$38.1m).

Driver Monitoring System (DMS) technology continues to gain momentum as it becomes central to safety in all transport sectors. Regulatory and safety bodies in Europe have acknowledged its importance and this trend extends globally as the USA becomes focused on a road safety agenda to address risks posed by emerging semi- and fully-automated vehicle technologies.

Seeing Machines continues to grow despite the ongoing disruption caused to its key transport sectors by the global COVID-19 pandemic. FY2021 marks the start of production for two major Automotive OEM programs, one in Europe and one in North America, as well as one of many vehicles from an expanded program for an existing OEM customer, signalling the beginning of meaningful Automotive production royalty revenues.

OEM Highlights:

-- Three-pillar embedded product strategy launched, targeting the rapidly expanding camera-based interior monitoring market for automotive focused on its FOVIO Chip, the introduction of its Occula(TM) Neural Processing Unit and it's e-DME (embedded Driver Monitoring Engine);

-- Three-pillar strategy closely supports carmakers with a range of integration options for industry-leading DMS as they design cars to meet mounting safety standards and deliver more convenience features for their customers;

-- Over the next two years, Seeing Machines expects to be in full production with existing OEM customers on more than 30 distinct car models, ranging from world leading technology flagship brands to world sales volume leaders;

-- The Company is now formally working with additional global semi-conductor companies, Qualcomm Technologies and OmniVision Technologies, to extend the delivery of its DMS and partnerships within a growing ecosystem of Tier-1 customers;

-- Seeing Machines led the DMS industry with its formal launch of Occupant Monitoring System (OMS) technology to the Automotive market; and

-- A non-binding MOU was signed with global aerospace and defence technology company, L3Harris Technologies which frames the intent to enter a global non-exclusive license agreement with Seeing Machines' Crew Training System, enhancing pilot training

Aftermarket Highlights:

-- Fleet revenue of A$15m for H1 2021 a significant contributor to the overall Company result, representing 16% growth on the previous period;

-- Guardian (Company Fleet solution) pipeline developed, alongside uninstalled hardware sales from H1 2021, and is expected to generate significantly increased revenue through to 30 June 2021, commensurate with previous periods;

-- Naturalistic driving data, a fundamental metric to Seeing Machines' ongoing technology roadmap, collected by Guardian has now reached over 5.8 billion kilometres;

-- Distribution partners around the world now totals fifteen across Asia Pacific, Europe, UK, Africa and The Americas.

Outlook:

Seeing Machines continues to trade in line with expectations for FY2021.

Paul McGlone, CEO of Seeing Machines commented: "The first half of FY2021 has been significant for the company and the results are pleasing. Despite the obvious ongoing challenges around the world, we are still seeing growth in our Aftermarket (Fleet) business and our engagement across the OEM business and associated industries (Automotive and Aviation), has never been stronger. We are encouraged by our continued engagement across a number of ongoing RFQs, which have increased significantly in both number and value, since 1 July 2020, to deliver Driver and Occupant monitoring system technology to carmarkers globally.

Our expanding ecosystem of partners across the Automotive sector, in particular, is extremely encouraging and we are very positive about the tie-ups with large, global semi-conductor companies that will enable Seeing Machines to provide options and cost-savings for OEMs, especially as regulation really starts to impact delivery schedules. And despite the obstacles we face with momentum in the Aviation industry due to Covid-19, I remain confident that our long-standing collaborations will bear fruit and that Seeing Machines will see growth across this business in the near-term."

The Company expects to publish its half year results in March 2021.

[hazl] 31/1/2021 11:15

Looking forward to it.
Accounts don't lie and all that.

[zero the hero] 29/1/2021 10:04

Monday should be interesting.



"Financial Calendar FY2021
H1 Trading Update 1 February 2021"

[shallwe] 28/1/2021 17:42

A few posts disappeared. Looks as though someone got upset :))

[tarrant777] 28/1/2021 16:13

Good luck to braze/crazy punters thinking of shorting this stock. Studying the transactions it is obvious that one or more major buyer(s) continues to hoover up huge volumes of stock at whatever the bid price and we all know that one or two RNS announcements that indicate substantial upticks in revenue could materially increase the value of SEE.

[rjcdc] 28/1/2021 15:55

Positive bounce from the low earlier... hopefully should continue into weekend

[kramar] 28/1/2021 14:16

I think someone, an II presumably is getting out and another is getting in. There was one dump of 14,500,000 reported after hours yesterday and then a number of 1,000,000 and 2,500,000 buys to more than balance. I suspect it all happenden during the day not after hours that has been going on for a few days. It may account for the falls during the day.

[shallwe] 28/1/2021 13:45

Why would they need a capital raise with the money they have in the bank and the revenue coming in through the front door now. Ridiculous de-ramp, but a good try.

[juju44] 28/1/2021 12:57

That was some shake

[alessxito] 28/1/2021 12:56

Ouch. That short must be painfully in red

[alessxito] 28/1/2021 10:32

Ken Chung smoke some CBD. Need to relax

[doobz] 28/1/2021 10:17

Picked a bunch more up today on discount, still expecting a break of all time highs soon

[ken chung] 28/1/2021 10:13

Shorters delight.Lemmings and mushrooms only.

[lfc4ever] 28/1/2021 09:36

bit of a shame that the qualcomm news coincided with two big red days across the board.

it's inevitable that there is going to be a lot of volatility in a share like this, and, as our new friends demonstrate, a risk of shorting.

but, either you think the depth of the relationship with qualcomm means that our company is worth considerably more than 500m or your don't.

Red or black folks, take your pick.

I'm all in.

[rjcdc] 28/1/2021 09:21

Consolidation is fine - there has to be a transfer of shares at the margins.

If there are 2-3 news items due in the next month or so (as per my understanding) then there should be enough to push the share price into the next phase - I.e climb into the 20s

I just hope they use the trading update to revise future earnings projections and to shorten the time to breakeven. That’s a game changer.

Am also expecting buying to return later today/tomorrow..

[hazl] 28/1/2021 09:10

'The link with Qualcomm could also lead the AIM-listed company to hit the radars of tech-obsessed investors across the pond. This could usher in more buying and more share price momentum. On a long enough timeline, I can even imagine the company being of interest to a deep-pocketed suitor. Not that such an outcome can be guaranteed, of course.'

Thanks Cheshire.
In fairness you need to read the whole thing but Motley Fool can blow hot and cold on stocks.
Basically as ever people like us have to make up our own minds.

[cheshire man] 28/1/2021 08:47

The Motley Fool UK
@TheMotleyFoolUK
·
6m
The SEE share price is up 75% in January. Should I sell this hot growth stock now?

[ken chung] 28/1/2021 08:20

Short it down to 6p or less.

[skinny] 27/1/2021 18:32

free stock charts from uk.advfn.com

[abid6814] 27/1/2021 18:19

94 million good reasons to hold :-)

[jangaman] 27/1/2021 17:33

Lots of big delayed trades being painted on the tape. Interesting day... I just wonder when the next capital raise will be.

[queenwood] 27/1/2021 16:21

Just thought I would look in ive been holding see for years now things are really on the move great it’s been a long wait but worth it 😀

[skinny] 27/1/2021 15:29

Well the volume speaks, well volumes again.