Seeing Machines Share Discussion Threads

[base7] 09/2/2024 00:24:57

Fair comment Bones -but presumably you recognise the possibility that any (unexpected) good news could positively impact our SP,e.g. Decent levels of G3 orders,long awaited substantial Auto wins,equally long awaited Aviation contract news-preferably all 3

[bones698] 08/2/2024 17:49:59

Thought I'd have another loom after today's trading statement . Still loss making but approaching break even . Whilst that's a good sign to be making losses on increased turnover isn't so good and with a lot of profit built into the mkt cap it still doesn't exactly look cheap and why it continues to sink lower .
The general economy isn't helping with people and companies not looking to spend so the increasing revenue is a decent effort .

Just looks overvalued given the lack of profit and any bad news would see this get hammered m one delay or slump in revenue or profits would hit this hard with such a high mkt cap . That's the gamble but not one for me

[longsight] 08/2/2024 16:12:01

Stifel released a new report on Seeing Machines this morning on 8th February 2024. What do they say?
Searching for: Stifel report Seeing Machines 8th February 2024

Generating answers for you…

Certainly! Stifel’s latest report on Seeing Machines, published on February 8, 2024, provides valuable insights into the company’s current status and growth trajectory. Here are the key takeaways from the report:

Financial Performance:

Underlying Revenue growth for the first half of FY2024 (H1 FY2024) stands at an impressive 28%, reaching US$25.6 million (excluding one-off Magna exclusivity payments). The reported revenue growth, including these one-offs, is 5%.
Annualized Recurring Revenues increased by 22% year on year, reaching US$14.5 million.
The company’s cash position as of December 31, 2023, is US$22.2 million, with a cash burn of US$13.9 million. Receivables and inventory balance is US$31.1 million, and a working capital unwind of $5-6 million is expected in H2 FY2024.
Operational Highlights:

Seeing Machines has been appointed by an existing European Tier 1 customer to deliver its FOVIO Driver Monitoring System (DMS) technology for a new European OEM. Initially, the focus is on enhanced regulatory-focused DMS features, with an initial lifetime value of US$30 million.
Additionally, the company has been appointed by another existing Tier 1 customer to deliver FOVIO DMS technology on an additional program for an existing European OEM. This program targets safety regulation expectations, with an initial lifetime value of US$15 million.
Overall, Seeing Machines has now been appointed to deliver 17 Automotive programs with 11 individual OEM customers, building the cumulative initial lifetime value of all OEM programs to US$366 million.
Collins Aerospace, in an exclusive collaboration with Seeing Machines, has initiated joint development of the world’s first aviation fatigue detection solution—a potential multi-modal Pilot Support System.
The company’s Aftermarket DMS, Guardian Generation 3, was independently tested and assessed to meet requirements for drowsiness detection in the European Commission’s General Safety Regulation, effective from July 2024.
Post-Period Highlights:

At CES 2024 (the world’s largest technology conference held in Las Vegas), Seeing Machines successfully launched Guardian Generation 3. The company also announced the beginning of regulatory-driven sales with three European OEMs in anticipation of the General Safety Regulation requirements.
CES 2024 meetings covered demonstrations of the Company’s latest FOVIO driver and occupant monitoring suite, showcasing advanced R&D-based technology to technology partners, regulators, Tier 1 and OEM customers, investors, and media 1.

In summary, Seeing Machines continues its transparent growth trajectory, backed by strong financial performance and strategic collaborations in the automotive industry.

[smithless] 08/2/2024 10:51:46

I know SEYE and SEE cannot be compared like for like, but if one just focuses of their auto businesses SEYE sales for the 9mths to Sept 2023 were SEK57.4m (us dollars 5.47) compared to SEE's sales for 6mths of US dollars 25.6m. SEYE is a small player and we will see if this changes in it interims later this mth. Shame SEYE stopped giving KPI's

[amt] 08/2/2024 10:39:23

Thanks Base for answering my question about Stifel. It gives some reassurance after the aweful KPI numbers

[longsight] 08/2/2024 09:39:03

So amt, SEE are doing badly. But SEYE are doing far far worse.

So what happened guys to the DMS / OMS market? Is that it? The 2 biggest players and that is all they sell?

How about this - the market is only in the very foothills. Others know that. Stupid group thinkers don't.

[base7] 08/2/2024 09:36:32

With view to the Us strike which affected Auto production the KPIs could have been worse.Stifel retain 15p target & if The Directors agree with that they should resume buying again,@ up to 40% less than they were buying less than a year ago & that would be very positive.I am hoping for progress on Collins collaboration & more G3 contracts in H2 -apart from Auto RFQ wins & ,maybe, one day , we will announce that we are ahead of expectation but ,meanwhile, being on target is OK-despite our weak SP

[amt] 08/2/2024 09:26:45

Longsight I have been bullish for ages but you must admit the KPIs for the last two qtrs are aweful. Gives the impression of a decline in production. Maybe you have better info from Stifel or whoever but this update has little to offer

[longsight] 08/2/2024 09:15:36

In the car trade we used to call these guys "tyre kickers" i.e. bidders look gloomy as hell at the car auction - but given the times we live in, they could be hobbyists?

[boonboon] 08/2/2024 09:14:54

Alternatively there will be a pick up in sales towards the end of the decade as people buy petrol cars whilst they still can. Any car sold after 2026 has to have a DMS system, not just electric cars.

[gutterhead] 08/2/2024 09:11:49

Self imposed koi’s
Who gives a toss
Macglone has to deliver or go

[longsight] 08/2/2024 09:08:51

impressed by all the negative group think - esp on LSE. All that effort to rubbish SEE. So much emotion and zeal! LOL

[amt] 08/2/2024 09:02:42

Encouraging the share price didn't fall much so perhaps a lot of good things going on and we can ignore the awful Kps. I bet they regret issuing them.

[longsight] 08/2/2024 08:48:14

Guardian 3 has a secret sauce i.e. it is manufactured by EMS directly supplying the OEMs. Besides avoiding the complexity previously [whereby SEE struggled with organising factory production on G2] and simplifying the business model to SAAS it will have a major positive impact on w cap reqs i.e. no need to tie up precious cash in stock.

[amt] 08/2/2024 08:42:32

The KPIs look aweful but hope the Stifel note has some positivity

[mallorca 9] 08/2/2024 08:39:19

But I see new car sales stalling .... due to the imposition of EV's ..... people just don't want them and will stick with their old petrol car.

[longsight] 08/2/2024 08:30:55

On financial numbers running at 50% higher auto and total revenues in comparison with SEYE

Cash looks as per. Excellent.

Just at the beginning of the ramp up in fovio revenues. Fleet revs will be augmented by G3 sales. G3 is 26 compliant so well ahead of the game and shd add an increasing contribution to Fleet from Q4

Stifel has a new note out

[mallorca 9] 08/2/2024 08:22:08

Quite high inventory number too ..... I would not be surprised to see this Market Cap fall to about £100m

[smithless] 08/2/2024 08:19:08

Numbers better than what I has expecting, as this period included US car workers dispute. DMS is at a very early stage and can only start to accelerate over the next few years. Shame none of its competitors give KPI's

[mallorca 9] 08/2/2024 08:07:06

Bit worried about the cash burn ......and when will this actually turn a profit ?

£200m Market Cap does seem a bit rich !

[amt] 08/2/2024 07:30:09

I was expecting a raft of design wins but nothing, however everything on target.

[boonboon] 02/2/2024 12:54:12

They rescinded the 50,000 units on twitter straight away.Whilst it's unlikely a fleet operator might have 2 systems it's not completely impossible if they see the benefit of live support.

[nvhltd] 02/2/2024 12:07:35

You can tell from Sophie's response that she is clueless.

In one of her answers she is suggesting that a truck buyer might choose to have 2 dms - one fitted by the oem and another if they wanted to choose their own dms.

I heard tye question by Ian King on Sky, but if they didn't hear correctly why say 50,000 and if that's incorrect they could easily clarify rather than say they don't have sales targets.

[boonboon] 02/2/2024 11:35:33

They have sales targets they communicated these in October.They also said these were conservative targets and internal targets were higher, but they're obviously not going to communicate those.