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| 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
|
|
|---|---|---|---|---|---|
| -0.005 | -0.22% | 2.32 | 12,158,079 | 16:35:25 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 2.25 | 2.345 | 2.50 | 2.25 | 2.40 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Computer Related Svcs, Nec | AUD 67.63M | AUD -33.13M | AUD -0.0078 | -2.95 | 99.32M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:25 | UT | 1,246,359 | 2.32 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 03/3/2025 | 10:18 | UK RNS | Seeing Machines Limited Notification of Major Holdings |
| 27/2/2025 | 07:00 | UK RNS | Seeing Machines Limited Director/PDMR Shareholding |
| 26/2/2025 | 12:13 | ALNC |  Seeing Machines expects to post broadly flat interim revenue |
| 26/2/2025 | 07:00 | UK RNS | Seeing Machines Limited H1 FY2025 Trading Update & Quarterly KPIs |
| 24/2/2025 | 12:27 | ALNC | Seeing Machines signs Americas referral deal with Mitsubishi Electric |
| 24/2/2025 | 07:00 | UK RNS | Seeing Machines Limited Mitsubishi Electric Automotive America Agreement |
| 18/2/2025 | 07:00 | UK RNS | Seeing Machines Limited London Presentation |
| 23/1/2025 | 07:00 | UK RNS | Seeing Machines Limited Director dealing |
| 21/1/2025 | 07:00 | UK RNS | Seeing Machines Limited Director/PDMR Shareholding |
| 20/1/2025 | 07:00 | UK RNS | Seeing Machines Limited Director/PDMR Shareholding |
Seeing Machines (SEE) Share Charts1 Year Seeing Machines Chart |
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1 Month Seeing Machines Chart |
Intraday Seeing Machines Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/3/2025 | 15:29 | VISION for the future | 19,919 |
| 01/2/2025 | 10:36 | Seeing Machines PLC | 749 |
| 01/7/2024 | 19:41 | VW is not happy | - |
| 05/5/2024 | 17:44 | Is a better place for your money | 1 |
| 12/8/2021 | 17:30 | A great company. A poor share | 22 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2025-03-19 16:35:25 | 2.32 | 1,246,359 | 28,915.53 | UT |
| 2025-03-19 16:29:54 | 2.30 | 100,000 | 2,300.00 | AT |
| 2025-03-19 16:29:40 | 2.35 | 4,057 | 95.34 | AT |
| 2025-03-19 16:29:40 | 2.35 | 50,000 | 1,175.00 | AT |
| 2025-03-19 16:29:37 | 2.36 | 95,000 | 2,237.25 | AT |
| Top Posts |
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Posted at 19/3/2025 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 2.33p.Seeing Machines currently has 4,271,645,483 shares in issue. The market capitalisation of Seeing Machines is £98,247,846. Seeing Machines has a price to earnings ratio (PE ratio) of -2.95. This morning SEE shares opened at 2.40p |
Posted at 26/2/2025 21:13 by amt Interesting if you go back and watch earlier interviews Paul states that forecasting is very difficult and he even says that forecasts will be wrong but they try and make forecasts that are the least wrong they can be.It's clear the latest turmoil which he flagged last year has had a bigger impact than expected. These are blips on the way. Mitsubishi took months of analysis and negotiation to pay 4p a share and I trust they know a lot more about it than the analysts or BB posters. Longerterm there are a host of other markets outside of transport that this technology can be used in. The fact that Smart Eye appears to win many deals is a red herring. The OEM s want competition so they can use it as part of their negotiation with Seeing Machines is important to understand. Finally the fact that overall analysts actually raised share price targets a little today demonstrates they can see through this short term difficulty. By the way Guardian is expected to ramp up in March so that's not so far out that we should start to see some good numbers there even if auto programs don't start in a big way until 2026. Plus we should see some RFQs announced. So not all doom and gloom |
Posted at 26/2/2025 08:33 by amt If the share price doesn't pick up we could see a bid for the company. In my view it's worth 12p which is now 4 times the current share price.Its going to be interesting to see Director dealing which I expect to be significant at these levels |
Posted at 24/2/2025 07:05 by skinny Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announces that Mitsubishi Electric Automotive America, Inc. ("MEAA") has signed a Referral Agreement ("Agreement") with the Company that will allow Seeing Machines to leverage MEAA's significant Aftermarket distribution network and customer base across The Americas. Following Mitsubishi Electric Mobility Corporations's ("MELMB") recent strategic investment into Seeing Machines, this Agreement will help to accelerate sales of the Company's Guardian Generation 3 AI-powered driver monitoring solution, the latest generation of driver safety technology recently launched globally.MEAA, a US affilitate company of MELMB, is a recognised leader in the manufacture, marketing and sales of electrical and electronic equipment targeting a range of industries including transport. With an enviable customer base and expertise across the commercial vehicles segment, MEAA is extremely well positioned to support Seeing Machines as it penetrates the large telematics and connected vehicle market in The Americas with its industry leading driver safety solution, Guardian Generation 3. The Referral Agreement will facilitate the joint pursuit of business where MEAA has existing commercial relationships across its transport and logistics segment in the region. With access to operators covering over 1,000,000 individual vehicles, the opportunity is significant and MEAA has already seen strong initial interest in the potential of Guardian Generation 3 to enhance safety across these fleets. In the immediate term, Seeing Machines will leverage its US based sales force to support MEAA's efforts across The Americas and, as opportunities progress, will be provided qualified leads that they will finalise directly. Leveraging MEAA's deep relationships across the segment, this highly complementary collaboration aims to signfiicantly reduce the traditionally long sales lead times associated with the sale of a highly technical product such as Guardian. |
Posted at 06/1/2025 10:37 by mirabeau Thanks to Colin Barnden ---------- Mitsubishi Electric Mobility Corp. ("MEMCO") has announced a collaboration agreement with Seeing Machines covering #automotive #DMS #OMS and Guardian (Fleet) Gen3. It is a huge deal, let's dive in. This is a collaboration agreement not a simple T1/T2 purchase agreement, which implies that from now MEMCO will bid only Seeing Machines for auto RFQs. That suggests existing arrangements (with Smart Eye?) will be terminated, which could explain the "deep layoffs" announced by Affectiva (a Smart Eye company) in December. The very serious issues with the DMS in the Mitsubishi Triton have been discussed here already and need not be rehashed. Mitsubishi listened and adapted. Seeing Machines now has three global T1 partners, each with a slightly different regional OEM bias: Magna (N. America); Valeo (Europe); MEMCO (Japan). All are established in China too. Adding a fourth T1 with an OEM focus on Korea might be next. Advanced distraction algorithms and #humanfactors expertise appears to be the key competencies accessed by MEMCO, underlining Seeing Machines' leadership in these areas, along with compliance for #NCAP26 and #GSR. It is assumed Mitsubishi Motors, Nissan, and Subaru will be the first auto OEMs targeted by MEMCO, and we may see something this week. Toyota is the big win, but has a well established DMS partnership with Aisin/Denso; Mazda's decision for DMS is unknown but likely still in play. The strategy appears to center on MEMCO targeting Denso for DMS in both auto RFQs and commercial vehicles. Denso offers aftermarket DMS for trucks (using signals from Xperi) mostly in Japan. Guardian Gen3 is now to be marketed in the fleet aftermarket in N. America, Europe and Japan using the established MEMCO distribution channel, instantly massively expanding customer reach. The Gen3 box has been homologated in after manufacture trucks sold in Europe (Wrightbus), showing compliance with #DDAW for GSR. Thus the agreement immediately takes MEMCO into both aftermarket and after manufacture DMS supply for commercial vehicles. Will Fuso be the first customer win? MEMCO has a 19.90% stake in Seeing Machines as part of the agreement, now making it the largest investor. This number is significant and signals an intent for a long-term partnership between the two companies, rather than sets MEMCO to buy Seeing Machines outright (see "buying a husk"). Seeing Machines is evidently pursuing close partnerships across auto and commercial vehicles, rather than competing with T1 partners by becoming a "software tier-1," thus blurring the lines between collaboration partner and competitor. Bottom line: MEMCO selected a partner, and that partner was Seeing Machines. |
Posted at 05/11/2024 19:08 by mirabeau Auto industry woes affect Seeing MachinesPosted on 1st November 2024 While Seeing Machines’ FY24 results illustrated a year of significant progress, auto industry headwinds and a slower than expected ramp in Guardian Gen 3 sales have led to Stifel reducing its revenue estimates for FY25-26. This in turn has led to it reducing its DCF-based target price to 11.4p from 13p. It’s certainly disappointing news for shareholders but Peter McNally, analyst at Stifel, commented in a detailed note issued on October 31st: “Despite delays we maintain our positive stance on the shares moderating our target price to 11.4p (13.0p) and see the company extending its leadership with proven implementation and deployment into an increasingly regulated market.” Revenues for 2025 are now predicted to be US$73.1m with a pre-tax loss of $13.3m, while in 2026 revenues of $97.5m produced a pre-tax profit of $5m. Material uncertainty In the full Annual Report (on page 46), the auditor PWC also made a comment about ‘material uncertainty’, reflecting the cash outflow of $11.9m in the FY24 results. Personally, I believe they are only fulfilling their obligations to warn investors about potential risks (while also covering themselves), yet it is unsettling for green investors unused to the conservative ways of auditors. Stifel’s McNally certainly didn’t appear unduly concerned, stating: “We note the auditor’s “material uncertainty” comment but see a path to breakeven given strong (although reduced) operational drivers and cash costs containment”. He went on to explain his estimate changes and assumptions in detail: “We reduce FY25/26E revenue by 11%/17% assuming a slightly higher GM% of 64% (62%), driven by a slightly higher software mix resulting in a cash EBITDA loss of $14.9m ($10.8m) for FY25E but profit of $8.6m ($19.5m) in FY26E. This is based on stable cash opex of $65m, resulting in $9.8m cash at FY25E year-end and cash generation thereafter as royalties continue to ramp and Guardian Gen 3 volumes increase.” In his presentation today on Investor Meet, Paul McGlone reiterated that the company still expects to hit breakeven on a monthly basis in Q4 of this financial year. He went to explain that if additional working capital is required due to the lumpy nature of automotive revenues: “We have a reasonably simple solution in the form of receivables funding and that process is underway. We expect it to deliver additional working capital in the range of $5-10m.” Furthermore, he added: “To the extent that we need additional cash, we have a whole range of opportunities before us, some of which are well progressed and are consistent with the types of programmes or results that we’ve delivered in the last 2-3 years.” I assume here that he is referring to license deals which, as Stifel points out have had a dramatic effect on profitability and cash given its similar 100% gross margin nature to royalties. McNally teased in his note: “Licensing is very difficult to predict but the company has benefitted from licensing deals over the past few years from Magna for $5.4m in October 2022, Collins Aerospace for $10.0m in May 2023, and most recently Caterpillar for $16.5m in June 2024.” I’m therefore fairly confident Paul McGlone and his team will pull another rabbit out of the bag this year. Happily, it seems smarter people that me are thinking the same. Speaking directly about the cash concerns McNally wrote: “With $23.4m of cash on the balance sheet we feel that the company has sufficient cash for the year with the goal of reaching run-rate cash flow break even by the end of FY25E (June). The company also has a history of sourcing strategic funding and software license agreements that have benefited cash. We believe these options still exist and can provide additional cash if required.” Peel Hunt In a short note issued today Peel Hunt reiterated its ‘BUY’ rating but reduced its target price to 7p from 9p. Analyst Oliver Tipping stated: “Management has re-affirmed its commitment to reach a cash break-even run rate in FY25. However, we believe this could be challenging. “Ultimately, OEMs across the industry have been struggling and they dictate the speed of production. We fear timelines could shift to the right. “Seeing Machines’ ability to reach its break-even run rate goal is likely to hinge on its ability to control costs. Competitors, like Tobii, have already begun severe spending cuts and we believe Seeing Machines will require similar measures given its current cash burn rate of $2m a month. To account for wider industry weakness, we reduce our TP from 9p to 7p.” Reasons to be cheerful While the share price tanked on Thursday, as nervous private investors do what they usually do when real life intervenes; panic and sell low, there are reasons to be cheerful. In the Investor Meet presentation today Seeing Machines did confirm that for this financial year it expects: 1.9 – 2.1 million annual production units for Automotive, contributing to high-margin royalty revenue. A 20% increase in connected Guardian units generating monthly services revenue. 13,000 – 15,000 Guardian Gen 3 units to be sold, predominantly in Q2 at a much higher margin (50%) than previously with Gen 2 units (10%). Aviation to achieve Blue Label (functioning prototype) product delivery, adaptable for certain fields of use (simulator, air traffic control). Cash flow break-even run rate target at end of FY2025. In addition, during the Investor Meet presentation CEO Paul McGlone revealed that there has been a resurgence in the inflow of RFIs and RFQs for the auto industry. “We are currently processing RFQs for OEMS based in Japan, Korea, Europe, China and North America. The vehicles associated with those RFQs are largely for Europe, Japan and North America and would have start of production timing between 2027 and 2029. And we expect the sourcing of these programmes to begin in 2025 calendar year.” Thus, I think Peel Hunt’s fears of auto timelines shifting to the right are unfounded. Indeed, Seeing Machines has already suffered from that and the market is now hot for DMS/OMS once more. Amazing news? Regarding Gen 3 sales, I’m also hearing a whisper that Seeing Machines has begun trials with a global US online retailer, which is A household name. If they are successful and a deal is announced a few months from now I’m pretty confident the share price will soar on that news alone. Can you guess the name? I’ve been in this stock a long time, too long in truth. However, I’ve no intention of selling out when the company is so close to achieving breakeven. That’s because I believe it will trigger a bidding war. Do your own research of course. The writer holds stock in Seeing Machines. P.S. If anyone does make any money from this information do please consider making a small donation to a charity for the people in Gaza. As we worry about money they are being murdered en masse and ethnically cleansed, which according to international law constitutes genocide. Thanks. |
Posted at 17/8/2024 16:10 by base7 NVH LTD - I do agree with some of your comments & certainly accept that there have been times when good news is overshadowed by something less pleasant.However, they projected cashflow & the expected 30/6 cash balance earlier in the year & we dont know whether the Cat $16.m deal had been factored in ( it had been under discussion for some time).The sale of the remaining G2 stock in Q4 was unexpected,although, & again, Paul had advised us earlier in the year to expect s to sell down our G2 stock by 30/6/24, resulting in improved cashflow in H2-although if the bulk of that stock was sold in June ( as a "job lot")the sales will be reflected in Trade Debtors rather than cash at Bank ,although Paul & Martin should have a good idea as to when the Trade Debtors will be settled.This , I appreciate could create some uncertainty-along with the uncertainty regarding the treatment of the $16.5m from Cat -which could also be the cause of the delay in the update as the Audit Partner acting for SEE may have to agree to the accounting treatment before the update can be issued ( we would not want to declare revenues of $70m if it subsequently transpired they were only $60m.Despite any perceived uncertainties our share price is up around 20% since the KPI release & The Market usually knows when a fundraise is underway & if that was the case our share price would be more likely to have fallen to less than 4p as those in the know sold ahead of the placing. My view is that we are interestingly poised & a solid update,demonstrating ( & declaring ) no need for a raise with cashflow break even still expected in FY25 ( we are almost 2 months in ) would be very positive for our share price Clearly an update showing the need for more cash, including a revenue shortfall & with cashflow breakeven deferred to FY26 results in our share price heading rapidly South. My confirmation bias together with my belief in our substantial potential leads me to expect option 1 . |
Posted at 12/7/2024 12:10 by mirabeau Peel Hunt confirms Seeing Machines could capture 70 per cent auto market share12th July 2024 Peel Hunt confirms Seeing Machines could capture 70 per cent of the global auto market and proffers a 16p bull case target price, while reiterating its current 9p price target. In an interesting note issued today, Peel Hunt analysts have clarified their thoughts regarding Seeing Machines, stating it is the leading company in the Driver Monitoring (DMS) space with the opportunity to capture around 70 per cent of the 90-100m cars sold globally each year. In the note, its team of analysts Oliver Tipping, Damindu Jayaweera and James Lockyer, stated: “We believe Seeing Machines has a medium-term opportunity to sell Driver Monitoring Systems (DMS) to c.70% of the 90-100m cars sold p.a., equating to a c.US$650m/year market.” They added: “By dissecting competitors’ KPIs, we conclude that Seeing Machines already has a leading position ahead of the market inflection.” Of course it’s well-known that the EU General Safety Regulation (GSR), provides a layer of certainty as it mandates DMS in all cars by July 2026. Moreover, from January 2026 the Euro NCAP 2026 protocols will require advanced, camera-based DMS if passenger cars are to achieve a 5 star rating. Given production lead times, I personally believe that means leading OEMs need to lock in this technology now for delivery by then. Bull/Bear case Peel Hunt explained its bull/bear case scenarios for Seeing Machines. Its bull case target price is 16p. Its bear case target price is 3.5p. “Our bull case assumes Seeing Machines can win in the Chinese market. This sees cars on the road ramp to c.25m units. This is still lower than the 30m+ rear view mirrors Gentex ships p.a., so it is not an unreasonable number for a key player in the Automotive market. Our bear case assumes that Seeing Machines only ever wins a 15% of its Total Addressable Market, equating to 10m cars on the road p.a. and that the ramp happens slower in the short term. We forecast a 46% growth rate for FY26E, vs 100% growth in our base case. A delay in adoption, and increased competition, especially in the rear-view mirror market, that leads to a lower market share are the two key risks.” It should be borne in mind that even this valuation doesn’t fully reflect the huge growth that Gen 3 Guardian is likely to deliver in the current financial year. In my opinion, with contracts ranging from the tens of thousands to hundreds of thousands of units likely to be won by Seeing Machines there is ample scope for upgrades to every broker’s target price. In addition, Aviation will provide further upside when Collins delivers its finished its AI-powered eye-tracking product for use in aeroplanes, in collaboration with Seeing Machines. Of course, do you own research and don’t rely on the views of any single source before investing. |
Posted at 11/7/2024 06:51 by smithless nvhitd you've got to start looking at the bigger picture here. Cash is king (expect more from Magna) until we see a sharp acceleration in revenue later part of 2025. I don't if you are short of SEE or just an angry investor. Colin Barnden I think sums up the recent deal quite well.Valeo has announced a strategic collaboration with Seeing Machines to grow market share in automotive #driver and #occupant #monitoring. As part of the agreement Valeo will transfer its driver monitoring perception software via Seeing Machines’ acquisition of Asaphus Vision GmbH. This collaboration reinforces the growing realization that #DMS is exceptionally hard to do well and that, like #ADAS, only a handful of suppliers will be commercially successful in the long term. #Incabin monitoring is about seeing and understanding human behavior, not procuring cheap software that only barely meets regulatory requirements. The acquisition of Asaphus is partly a tidying-up exercise of the DMS IP across the parties, but the main conclusion is simple: Like Magna International, Valeo is now all-in with Seeing Machines on DMS. The development is about the future for Smart Safety 360, which Valeo still talks surprisingly little about, but I described as a "game changer." (Link: hxxps://lnkd.in/eDuu Seeing Machines has been clear DMS technology leader for years, but the volume leader from 2018-2022 was Smart Eye. However as discussed (link: hxxps://lnkd.in/enhw Seeing Machines and Smart Eye are now pursing very different strategies. Seeing Machines is firmly committed to the role of a tier-2 (T-2), leveraging strategic partnerships with Magna and now Valeo as T-1s. In comparison Smart Eye is pursuing the role of "software T-1" where it bypasses a traditional T-1 and works directly with an #OEM to integrate its software. Tobii has expressed plans to do the same. Interestingly both Smart Eye and Tobii are working with Bosch, which looks ever more like a T-1 intending to replace the DMS T-2s and develop the cabin software in-house, as it did for ADAS. While Europe gets all the attention for DMS, the fastest growing market is forecast to be China, for compliance with C-NCAP and GBT requirements. Both Magna and Valeo have DMS solutions ready to ship and settled T-1/T-2 collaborations. The next couple of years are set to be very exciting as DMS volumes in China ramp up. |
Posted at 08/7/2024 17:18 by nvhltd Why do some people claim today's deal is good? Until this morning I'd bet no one had ever heard of Asaphus and didn't know it was a company in competition with SEE working on 3 deals we weren't. People claim without any knowledge that the price paid must be a good deal because we're paying half of what Valeo valued the business 12 months ago. FFS we were valued much higher when the share price was 12p. Their value like ours has tanked because all DMS companies have failed to deliver.Even Peelhunt have downgraded our share price target again. I fear for the share price over the next few months. It's already on the floor and any further bad news is going to put even more downward pressure on the share price The reality is Paul has continued where Ken left off by making wild claims and predictions, but delivering very little. |
Posted at 26/6/2024 06:14 by mirabeau Nice one------------------ 26 June 2024 Seeing Machines secures US$16.5 million payment as part of five year License Renewal with mining giant Caterpillar Revised Agreement also opens up significant untapped market for Seeing Machines' Guardian Generation 3 solution FY2024 Pre-Close Trading Outlook Update 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, announces that it has signed a new Master License and Marketing Agreement with global mining company Caterpillar Inc ("Caterpillar") covering the next five years (the "Revised Agreement"), as the existing agreement was set to expire in August 2024. Key elements of the Revised Agreement: · Up-front license fee payment of $16.5 million related to Guardian technology · Certain fields of use released for Seeing Machines to leverage · Further co-development of driver safety technology to be undertaken As part of the Revised Agreement, Caterpillar will make an up-front license payment for technology related to Guardian operator monitoring products, delivering a one-off cash payment of US$16.5 million to Seeing Machines. The Revised Agreement also enhances marketing cooperation between the companies to better serve their respective customer bases and improve coordination in the pursuit of under-served opportunities. The changes open up access for Seeing Machines to sell its Guardian solution for on-highway vehicles directly and through its distribution network to select customers in many market segments of the General Construction and other core industries. The Revised Agreement also makes provision for further co-development of driver safety technology, based on Seeing Machines' Intellectual Property to deliver smarter, more sophisticated, and competitive products to the heavy equipment sector. This co-development will proceed through specific development projects to be defined and priced individually. Caterpillar will continue to purchase and distribute Guardian Generation 2 directly or through their independent worldwide dealer network. Paul McGlone, CEO at Seeing Machines, commented: "When we signed our initial strategic agreement with Caterpillar in 2015 to work exclusively to deliver our package of monitoring technology to their customers in certain core industry sectors related to mining, it was a transformational agreement for the industry. As we enter this next phase of our strategic collaboration with Caterpillar, we are delighted to be signing this revised agreement, setting the agenda for the next 5 years. The US$16.5 million payment will bolster our cash reserves and help deliver on our business plan as we move closer to achieving a cash flow break-even run rate in FY2025. "Our incredible team continues to work tirelessly to ensure that Seeing Machines remains at the cutting edge of aftermarket Driver Monitoring System (DMS) solutions with our Guardian technology. Following the launch of the Guardian Generation 3 product earlier this year, and the renewal and expansion of our exclusive arrangement with Caterpillar, I believe we are well placed to take advantage of the regulation driven demand for our technology across customers in these vertical industries." Seeing Machines continues to protect commercial transport and logistics companies with its aftermarket Guardian solution globally, with over 16 billion kilometres of recorded travel across more than 59,000 vehicles. The third generation Guardian hardware, launched this year and now being delivered to bus and truck manufacturers to meet the European General Safety Regulation, also delivers a range of features that leverage the Company's proven automotive-grade algorithms and precision optics to deliver premium performance in the most demanding real-world driving conditions. Pre-close trading outlook As the end of the current Financial Year approaches, the Board of Seeing Machines anticipates that the Company will close the FY2024 period at or ahead of market expectations for Revenue and Cash. Subject to final revenue recognition associated with the Revised Agreement with Caterpillar and the final outcome on Automotive royalties for Q4 2024 it is expected that Cash EBITDA will be lower than market expectations. This has been largely driven by Aftermarket margin mix due to the slower than expected transition from Guardian Generation 2 to Generation 3 and the previously reported adverse Automotive royalty volumes and mix during the year. Automotive royalty volumes have improved during Q3 2024, delivering 74% growth in unit volume for the year to date. Despite Cash EBITDA being lower in FY2024, the Board confirms that the business is funded to deliver on the Seeing Machines business plan and reiterates its expectation to achieve a cash flow break-even run rate in FY2025. The Company will provide a detailed Trading Update in early August, as usual. |
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