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SEE Seeing Machines Limited

-0.05 (-0.93%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Seeing Machines Limited LSE:SEE London Ordinary Share AU0000XINAJ0 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.05 -0.93% 5.30 2,393,437 16:35:00
Bid Price Offer Price High Price Low Price Open Price
5.27 5.34 5.39 5.25 5.25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Computer Related Svcs, Nec AUD 57.77M AUD -15.55M AUD -0.0037 -14.46 222.35M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:44:03 O 500,000 5.30 GBX

Seeing Machines (SEE) Latest News

Seeing Machines (SEE) Discussions and Chat

Seeing Machines Forums and Chat

Date Time Title Posts
08/12/202321:14VISION for the future19,028
16/11/202307:08Seeing Machines PLC735
12/8/202117:30A great company. A poor share22
25/7/201911:54Techinvest Technology Fund SEE's the future557

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Posted at 10/12/2023 08:20 by Seeing Machines Daily Update
Seeing Machines Limited is listed in the Computer Related Svcs, Nec sector of the London Stock Exchange with ticker SEE. The last closing price for Seeing Machines was 5.35p.
Seeing Machines currently has 4,156,019,000 shares in issue. The market capitalisation of Seeing Machines is £222,347,017.
Seeing Machines has a price to earnings ratio (PE ratio) of -14.46.
This morning SEE shares opened at 5.25p
Posted at 25/11/2023 19:07 by zero the hero
From Chairboy on LSE.

In the AGM pack (see the SM website) is says PMG needs to hit the following share price targets by 30 June 24 to receive his award of up to 10m shares:

-Less than 12p per share, 0% vesting
-12p per share, 40% vesting
-12p-20p per share - linear sliding scale
-20p+, 100% vesting

Very bullish targets considering where the share price is today!
Posted at 27/10/2023 11:20 by nvhltd
Each to their own. I like to focus on the risk to my investment. The most important KPI is the share price and its at these levels because of the companies failure over the years to deliver. These guys aren't running this business for you or me. They are in it for themselves as I would be. So don't be so naive to believe that these share buys are because they are concerned about you or me. The buys are welcome, but I don't want them to be incentivised to sell me short when the end game arrives. Instead I want them on a share price performance bonus well north of where we are now.
Posted at 26/10/2023 13:23 by nvhltd
Hazl: it's basically a loan plus interest that is rolled over until the termination date. At that point Magna will either convert the value of the loan plus interest into shares at 11p.

One caveat to this is in the details of the CLN itself as the terms will dictate which party has the power to pay in shares or cash and when.

They can also opt for the loan to be repaid with the interest at the termination date.

In many ways they are in a win win situation assuming that by the termination date SEE are still a viable business whatsoever the share price

If the share price is 22p by the termination date they will almost certainly opt to have the loan paid back in share. In other words they will double their investment. It remains to be see how a placing of those shares of circa 9% on the day of listing will cause the share price to react. Normally it will drive the share price down which is why existing shareholders might lose at least in the short term.

If however SEE does not see any improvement in the share price by termination Magna will have 2 choices. Call in the loan or convert at 5p which would be twice the amount of shares needed to raise the cash necessary to pay the loan back.

If the share price is still at these levels in 3 years time then SEE management will have failed miserably to deliver on their plans. I'm not expecting that, but what we have seen over the past few years is the inability of SEE to del8ver meaningful revenues, miss targets and any good news has not delivered share price appreciation. So anything is possible.

Despite the hype around the Magna deal it was still a loan for the most part that needs to be paid back one way or another and the clock is ticking.

One year has already gone. 2024 we are still loss making, 2025 is break even. 2026 possible profit and the debt is due.
Posted at 18/10/2023 10:18 by hazl
Seeing Machines’ dashcam revenue is in the fast lane

Lara Wildenberg

Tuesday October 17 2023, 12.01am, The Times


An AI dashcam start-up that monitors drivers’ attention to prevent accidents says its sales growth this year has been better than expected.

Revenue at Seeing Machines rose by 48 per cent to $57.8 million, up from $38.7 million in 2022, as a result of vehicle safety regulations in Europe.

The company uses artificial intelligence cameras in a vehicle’s rear-view mirror to track fatigue and distraction levels through eye movements, head position and hand placement. It has installed its technology in more than a million vehicles and supplies technology to manufacturers including Ford and Mercedes-Benz. It also deploys its systems to fleet vehicles such as commercial lorries, sending footage to a supervisor if a driver needs to pull over and rest.

Launched in Canberra, Australia, in 2000, Seeing Machines expects to break even in 2025, with revenues reaching $125 million a year later.

Year-end results yesterday attributed the revenue growth to accelerating “regulatory momentum” as the compliance date for safety regulation nears. For example, Europe’s General Safety Regulation requires all new commercial vehicles to be fitted next year with technology to reduce risks of driver drowsiness.

Paul McGlone, 58, the chief executive, said: “Once we see the regulations harmonise, I think we’re going to see a massive increase in the take-up rate worldwide.”

Yesterday the company said it had signed an exclusive licence agreement with Collins Aerospace in the aviation industry to roll out similar monitoring systems for pilots.

Shares in the Aim-listed company fell by ¼p, or 4 per cent, to 5¼p.
Posted at 16/10/2023 21:14 by hope1815
After watching the update both men seemed clear and concise but it reminded me of the other updates in the past.

Seeing Machines reveals millions of cars use its AI tech

Paul McGlone and Nick DiFiore speak to Proactive Investors 2019


On a positive note the links show the message may be getting out




Morning Star


Just hope SEE can see the potential before a takeover
Posted at 02/10/2023 07:39 by wsm812
The share price of Seeing Machines should increase "materially" over the next two to three years, according to the Mail on Sunday's Midas column.

The transport safety software group, whose optical sensing tech is used for things like monitoring basic driver attention to semi and autonomous driving, provides its tool for both commercial and consumer automotive fleets, as well as through its nascent Aviation division.

"The service has been proven to work, it has been snapped up across the world and further progress is expected, amid a global step-up in safety regulations," the paper said.

Midas pointed out that while Seeing Machines shares have jumped 26% to 5.85p since it recommended them in 2015, there is "plenty more mileage in the tank".

"According to global statistics, almost three-quarters of road accidents are caused by drowsiness and distraction. Seeing Machines helps to make driving safer, its technology is approved by regulators and carmakers across the world and [chief executive Paul] McGlone has a clear plan for growth," the paper said.

"Existing investors should hold. New investors could grab a few at current levels."
Posted at 22/8/2023 06:04 by skinny
Paul McGlone, CEO of Seeing Machines, said : "We are very pleased with the progress made during what was a record quarter, and throughout the year, across both our Automotive and Aftermarket divisions. Crossing the 1 million threshold for the numbers of cars on the road with Seeing Machines' technology installed, up 143% year on year, represents a major milestone and a great achievement. With supply chain constraints now easing, our Guardian business continues to go from strength to strength, with over 51,000 heavy vehicles now connected, an annual growth rate of 30%. We can now expect Aviation to be a meaningful contributor to the Company's revenue and looming regulatory deadlines are driving the rapid adoption of Driver Monitoring Systems by automotive manufacturers. Our per-unit, margin accretive royalty model leaves us well positioned to capitalise on the opportunities ahead."

Seeing Machines is well positioned across all key transport sectors as growth momentum continued to accelerate in FY2023. The Aftermarket business has expanded, with 30% annual growth. Guardian, the Company's aftermarket product, is now connected to over 51,000 vehicles globally, contributing to the Group's expanding Annualised Recurring Revenue performance. As Europe's General Safety Regulation comes into effect in 2024, the "After Manufacture" market (factory fit for Bus and Truck vehicles) presents growing opportunities and Seeing Machines' plans are well advanced as commercial vehicle manufacturers seek to sell compliant vehicles.

In Automotive, the Company has now won 15 individual programs with 10 OEM customers. The cumulative total initial lifetime revenue for the awarded programs currently stands at US$321m, with significant upside potential, and the majority of this program revenue is expected to be recognised over the period to 2028. Despite some recent delays in OEM program awards, the Company maintains its expectation for Automotive market share to reach 40%, by volume. This expectation is based on an average of respected third-party analyst [3] views of total market penetration, together with Seeing Machines' view of specific current and expected OEM opportunities through to 2032, as well as historical win rates for the Company.

Licensing the Company's software into carefully chosen segments has also ensured a leadership position for Seeing Machines across key vertical markets within Automotive, in the rear-view mirror with Magna as previously announced, and more recently in Aviation.

Seeing Machines' Aviation business has now officially launched following the recently agreed exclusive licence with Collins Aerospace, generating licence revenue over three years of US$10m, to jointly develop pioneering eye-tracking solutions for the Aviation industry. Collins will also pay the Company Non-Recurring Engineering (NRE) payments to develop specific solutions, which will evolve into potential future royalty payments as shipsets are released to customers. This collaboration brings together the companies' collective expertise in navigation, communication, sensor technology, flight controls and aviation system design to accelerate innovation and safety across the industry, unimpeded by any close competition, as of today.
Posted at 20/7/2023 06:35 by amt
Might be they aren't too bothered about the share price at the moment or might
be they are keeping a low profile for confidentiality or commercial reasons. There is plenty of cash.
It just takes time. We got the aviation agreement eventually but it made no difference to the share price.
Maybe they have concluded its best to just get on with things.
I do share your frustration.
It's giving an opportunity to buy at low price and we have seen a lot of Director purchases.
Posted at 19/7/2023 08:23 by nvhltd
Sent today.

Hi Sophie,

As a longterm investor in Seeing Machines I am growing increasingly frustrated by the disconnect between the upbeat statements Paul makes and the reality on the ground.

On the 28th November 2022 Paul mentioned in a Proactive video interview that the RFQ's for automotive had increased from 6 to 12.

Apart from the "additional " OEM program announcement on December 22nd 2022 the last 'new' OEM order was announced 16th June 2022 - more than a year ago!

Something is not right when so many RFQ's are announced, but appear to deliver little or no positive outcomes. Meanwhile our competitors seem to be announcing new business.

We know that OEM's seem to be forever increasing their shopping list of desired features, but the delays announcing new contracts from the open 12 RFQ's seem to be at odds with the deadlines set for mandatory DMS installation in current and new vehicles particularly given the time it takes from contracts being awarded and the engineering requirements to incorporate a DMS into a new vehicle.

Seeing Machines have announced several collaboration agreements over the past 12 months and indeed several years, but despite the calibre of each of those partners investors never see or hear of anything tangible that results from those agreements. Indeed despite the global presence, size and market domination of our collaboration partners together with Seeing Machines size in the DMS space our competitors seem to be competing rather well without such high value partners. Given the hype around the market size, the regulatory deadlines, Seeing Machines size and status within the DMS OEM's and our partnership agreements I am surprised and a little concerned that our market penetration forecasts are so low?

Are you able to provide any positive information about the outstanding 12 RFQ's or when Guardian 3 will be released?

Posted at 16/5/2023 11:26 by nvhltd
While it is good to finally get a deal penned the size of the deal is rather pathetic and the share price reaction shows it.

$10million over 3 years is peanuts and while this isn't the royalties, we are years away from seeing much from them.

There's no details on the royalties percentage. PMG said that each aircraft system is worth circa $10K. What he didn't say or has not been made clear in todays RNS is whether SEE get $10K per aircraft or a percentage of that figure as a royalty.

Still too many unknowns to work out the value of this deal to SEE and the market has reacted accordingly.

Lets just the share price back to 12p and then flog the company.
Seeing Machines share price data is direct from the London Stock Exchange

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