Seeing Machines Share Discussion Threads

[sarumike] 31/3/2021 13:06

I did. But these events are stage managed and only for PR purposes

[blackpudding13] 31/3/2021 13:01

No one asked that question maybe you should have asked it yourself?Lots of RFQs since last year so waiting on the results, there are only a few companies after all and not one will win everything.

[sarumike] 31/3/2021 12:43

Any explanation why no auto contracts in last year while competitors are picking them up?

[doobz] 31/3/2021 10:59

Decent enough weathering of the covid storm, nothing spectacular though. Need new contract RNS really

[base7] 31/3/2021 10:20

I couldnt listen in but were any references made to Aviation or Rail ?

[stuart4u] 31/3/2021 09:50

One very interesting point he made was when we talk about models it is at a higher level. That is models includes a number of trims. He alluded to some counting trims, perhaps a dig at Seye's 84 (trims)?

[tradermel] 31/3/2021 09:25

Financials all fine, but what was the point of the questions?

Utterly pathetic PR. Contrast this with Smarteye.

[hazl] 31/3/2021 08:12

Net loss greatly reduced and cash savings!
Actually it gets better the more I look at it.

[hazl] 31/3/2021 08:09

Pleased especially with recurring revenues a good base.

[harrida5050] 31/3/2021 08:06

As expected

[theanalyst1] 31/3/2021 08:03

looks solid to me

[skinny] 31/3/2021 07:02

.

Financial Highlights:

-- Operational revenue of A$18.1m (H1 2020: A$15.8m) reflecting comparative growth of 15% on previous period. Underlying revenue growth using constant currencies is 19% year on year (exchange rate as at 1 July 2020).

o Aftermarket (Fleet and Off-Road) revenue grew by 17% to A$15m (H1 2020: A$12.9m)

o Annualised Recurring Revenues including royalties of A$15.5m, representing growth of 17.4% (H1 2020: A$13.2m)

o OEM (Automotive and Aviation) revenue of A$3.1m (H1 2020: A$2.97m), representing a 5% increase on previous period

-- Net loss of A$16.8m, representing an improvement of 33% compared with the same period last year (H1 2020: A$24.9m)

-- Cash at 31 December 2020 of A$52.3m (31 December 2019: A$47.4m)
-- Range of cost-saving initiatives, introduced through height of COVID-19 pandemic, has resulted in improved cost base management aimed at contributing to better operational performance and improved cash balance.

OEM Highlights:

-- Driver Monitoring System (DMS) technology now firmly established as fundamental to improved safety on roads, underpinned by regulation and standards, as well as to the increasingly smart vehicle interior for carmakers;

-- The number of active automotive RFQs (Requests For Quotes) requesting DMS has increased accordingly across major automotive markets;

-- Cadillac Escalade by General Motors, is now available on roads with Driver Attention System featuring Seeing Machines technology, bringing total current production vehicles to five, aross three OEM programs;

-- Automotive three-pillar embedded product strategy launched to support carmakers with a range of integration options for DMS;

-- Seeing Machines now formally working with a range of semi-conductor companies including Qualcomm Technologies and Omnivision Technologies to extend the deliver of its DMS.

Aftermarket Highlights:

-- Max Verberne appointed to lead the Aftermarket business, bringing a wealth of industry understanding having led telematics businesses for over ten years including with Radius Telematics Australia and Ctrack by Inseego, and has previously managed divisions and channels for Siemens across Australia and New Zealand;

-- Business continues to grow despite challenging global conditions as Guardian hardware sales remain consistent with ongoing momentum around safety technology in commercial transport and logistics, and installation rates in Southern Hemisphere, accelerate;

-- Guardian connections as at 31 December 2020 of 26,597 represents growth in installed base of over 3,000 units in the six months prior, contributing to unrivalled set of naturalistic driving data which now exceeds 6.3 billion kilometres and underpins ongoing development of the Company's DMS platform technology.

Investment Highlights:

-- Investment by leading US based insititutional investors has strengthened Seeing Machines' balance sheet and positioned the Company to initiate a range of strategies to support incremental growth objectives across its key transport markets.

Outlook:

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

Guardian connections are expected to accelerate as COVID-19 challenges subside with the global vaccine rollout and H2 2021 is expected to see an incremental growth in Aftermarket related revenue.

As the Company expects to be in production with existing OEM customers on more than 30 distinct car models within the next two calendar years, the current makeup of Automotive revenue is set to change from NRE (Non-Recurring Revenue) to signficantly higher margin based royalty revenue.

Paul McGlone, CEO of Seeing Machines commented: "The first half of FY2021 has been pleasing and we are buoyed by the progress in Fleet, as well as the significant increase in RFQ activity in Automotive across key markets as carmakers ready themselves for mounting safety standards and technology advances inside the cabin, all supported by camera-based DMS. We are now in production on five car models, working across three OEMs, and that is set to ramp up signficantly over the coming two years.

"Further, I'm delighted with the interest we are seeing from both UK and US based institutional investors, as DMS becomes more and more relevant across all key Seeing Machines transport sectors. We are now positioned to look beyond the near term and leverage our strengthened balance sheet to grow company opportunities across core markets."

[rjcdc] 30/3/2021 08:44

Gonna have to be some positive vibes coming out tomorrow for me to get my 11p this week!

Where is all the news that PM suggested would be coming out.. not a problem as it has to come out at some point.

Seems to be holding at 10p which is a major positive

[hazl] 29/3/2021 10:20

Clearly the US based Toronado Fund, LP, which was happy to load up at at a price of 10.5 pence per new share sees value and prospects for their money.
Very recently too.

[hazl] 29/3/2021 10:14

Indeed zero.

[zero the hero] 29/3/2021 09:39

I am not greatly into charting but I can see the logic behind the 3 year cup and handle formation, which is a bullish signal.

One lip in June 2018, the other Jan this year, both for news based reasons testing highs and falling back. Except this time the fall seems to have stopped and the recent II buy at 10.5 gives the chart a base forming part of the "Handle". If this moves back up to the same highs, then further gains are almost inevitable.

News this week via results could give that motion. I hope the company do not dissapoint

[facelessman] 29/3/2021 09:24

Yes this is the start of a very big week ahead. I can sense a breakout of the current pattern we've been in the last few weeks. Big announcements coming and the trading update on Wednesday all point in the right direction. I'm buying what I can at the moment.

[tradermel] 29/3/2021 09:16

I still have negative concerns over this company despite Qualcomm and this weeks presentation will give them a chance to firm up the news behind the NDA's. So this is the question I have forwarded:

In the period October 2017 to September 2019 you announced contracts for 6 OEM’s, and the contract value stated on RNS’s are between A$125 to A$159, using your stated figures. During the Proactive Investors interview of 3rd February you said: “License revenues from vehicle production has increased materially” and “that the new RFQ’s you have won are earlier than expected” but stating that “earliest increase in revenue by 2023”. Can you update us how expected revenues have altered between RNS released figures and the increased booked pipeline? I am not asking to violate NDA’s.

[rjcdc] 29/3/2021 08:04

Big week... just waiting for some funds before adding

[davemac3] 28/3/2021 22:15

nice find, Waymo = Google

[seeing2020] 28/3/2021 19:44

Its new that the customer is named as Waymo

[davidtrain] 28/3/2021 19:29

Wow is this "new news" and is it share moving news?

[seeing2020] 28/3/2021 13:35

Seeing Machines confirmed to be in Waymo.