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SEYE WARNING.
I think it is very nice that SEYE shareholders have this discussion board to promote their investment beliefs. However, in so far as any SEE shareholders still bother to read this, I must point out that just as I said when I posted these key questions a few days ago not one SEYE holder on here has stepped forward to answer the question!! Here they are again:
1 Why has SEYE failed to record any sales yet of its Fleet product launched 3 years ago? Is that a worry?
2 Why has SEYE no revenue at all from its aviation offering?
3 Why are the revenues from its auto DMS sales so tiny? Are they selling the product for next to nothing?
4 Why have they had 3 CFOs in 18 months?
5 What is happening at Affectiva and imotions bought gross US$110m? Why did the boss of Affectiva leave? What are the plans for this business which constitutes approx 70% of SEYE's activities?
I've said before that Cipia might be a real competitor - but SEYE look like a load of BS surrounded by uncritical ninconpoops
CFP
I'm fairly sure most individuals here will have some experience of how fickle 'investing' on AIM can be. In highlighting your flirtation with COPL you simply amplify what's stated in my earlier post: '...everyone here should understand there are no guarantees in this place'. I'm also guessing there's a fair chance many on this board may have had an experience similar to your own.
Your brush with COPL also prompts the question of how many novice investors have dived into a 'sure-fire-winner' only to ultimately regret it? It's also a timely reminder that not only can the action on AIM sometimes be random/erratic, but it has proven time and again that sentiment – for good or bad - can also turn on a pin-head.
That said, I agree, there is a chance that Seeing Machines could be the biggest financial mistake we investors have ever made. But, using the same logic (considering the fallibility implicit in your own COPL reference, and that accurately foretelling the future is still considered a rare talent – where I live), in time, not being invested here might also prove to be the biggest mistake you've ever made.
Bulletin boards are great places - where random punters can create noise. But that noise should always be filtered through the lens of research, common sense, and an understanding that not everything written on these boards will be in the interest of genuine investors.
However, thank you for your contribution. Reasoned and well considered argument is always welcome.
Seizetheday read it here
https://archive.md/czXKj
Eh, SEE will report again in May and again in August? Remember they issue quarterly KPI's alongside their usual financial reports?
Roll on May, that'll hopefully show an uptick in numbers and therefore auto royalties.
Interesting comments. Maga mirror. Blow away results. Simply wait a bit.
Brockwl, I do take note of what you say, because you do put some time and effort to get at what is really going on as against the hype. My take on yesterday's results are as follows. I think it can be summed up by what the report said.
"The Group remains well-placed to deliver continued progress in the year ahead, with a typical weighting to the second half, and the Board retains its expectations that financial performance for FY2024 will be in line with consensus[1]."
In line.
My response? Not good enough. The market response? Clearly not good enough, the share price is still where it is. The reality is that quality growth companies, the numero uno, the best in class, the world beater, don't just produce "in line with expectations" results. Most of those expectations are set by the company and it's brokers anyway. Quality growth companies blow them away, beat them, surprise the market (that's what ARM did by the way). To put it simple, See never do that. It's steady as she goes, which is fine for the company, but will do nothing for investors, for reasons I've given before (a clue 4.156billion reasons and the return per share calculation, etc).
Now, you mention the possibility of a further fund raise. I'd like to think that this will not happen, as it would just go further to destroying the investment case. It has to be avoided. Having said that they say and have said that they are fully funded to profit, so to raise again would destroy any credibility they have left. So, if they need more money, they are likely to explore other options. Of course, it will not be good if they do. I mean, they may make a profit in a couple of years, but it's only taken them 25 years to get there!
The trouble is, See will not report again until later this year, so investors are entering the annual black hole time with See, when announcements are often rare. There needs to be more regular contract announcements, preferably with big money attached. They need to make the market sit up and take notice, and a few contracts here an there each year will not do that. Even worse, no news on AIM will be interpreted as bad. I think everyone knows what that means for the share price.
Just a suggestion to See management. Start beating expectations, that's what world leaders do, because if you don't the market has told you what it thinks.
I suppose they have no choice
At it again.
No news out yet but something happening.
Thanks Schlemiel,
There is a paywall so wondering if anyone can post full article?
Terry,
Don't know where you got those numbers but they are wrong. Just looking at cash position in your extract it says cash position of $26.1m at end of FY24, ie June 2024.
Today's presentation has Martin's first slide showing cash position at Dec 2023 at $22.2m and he goes on to say Mid teens by June 2024.
No idea where you got those numbers, but suggest you watch the presentation for the real figures.
A handy written version of the whole presentation of anyone missed it.
Earnings call: Seeing Machines reports H1 2024 growth and outlook
Company Outlook
The company forecasts a 100% compound annual growth rate in automotive royalties, a primary driver of profit and cash.
A continuous reduction in monthly cash burn is projected, aiming for a cash flow break-even run rate in FY’25.
Seeing Machines is confident in meeting the expectations set for the second half of the year and beyond.
Bearish Highlights
Despite a stable financial position, the company reported a free cash outflow of just under $14 million for the period.
Questions about the share price were raised, suggesting it does not reflect the company's current value.
Bullish Highlights
The Generation 3 product launch and potential growth in the enterprise market are anticipated to drive further expansion.
Significant revenue increase in the aviation sector due to the start of work for the Collins contract.
One-third of automotive royalties are backed by volume guarantees, providing confidence in future bookings.
Misses
The company addressed criticism about missing targets but maintained that they are on track with their plans.
Q&A Highlights
Management discussed the possibility of moving to NASDAQ in the future but confirmed no immediate plans.
The technical sales process and two-stage sales plan for the aftermarket segment were explained.
Progress with Collins and other training simulator manufacturers was updated, with ongoing programs and RFQs in progress.
The relationship with Qualcomm (NASDAQ:QCOM) was clarified amidst discussions of market competition and missed targets.
https://m.uk.investing.com/news/stock-market-news/earnings-call-seeing-machines-reports-h1-2024-growth-and-outlook-93CH-3387791
Brock
Here’s the correct estimate.
Looking ahead, Seeing Machines says it is well placed to deliver continued progress in the year ahead with a typical weighting to the second half. Chief Executive Officer Paul McGlone cites "balance sheet strength and proven technology supported by regulatory changes." The company anticipates that its financial performance for financial year 2024 will be in line with consensus. Says consensus is revenue of USD66.3 million, up 15% from USD57.8 million in financial 2023, cash loss before interest, tax, depreciation and amortisation of USD28.4 million, and a cash position of USD26.1 million, 28% lower compared to net cash of USD36.1 million at June 30, 2023.
The stand out for me is that the cash burn has continued to be above projections, and that seems to stem from Auto revenue being lighter than expected, due to various delays and other unknowns.
To address this, they seem to have decided to cut costs far more aggressively than anticipated in H2, to try to make up the difference.
They now suggest that cash in hand will be in “mid-teens millions” by end June 24. So, we have to assume $15m left by then.
Which should be just enough for cash flow breakeven in 2025, but things are tighter than was envisaged 12 months ago.
Given by their own admission, they don’t fully understand last quarter’s drop in revenue, the worry would be that Auto revenue continues to be lighter than expectations.
Clearly its good that they have the scope to cut costs, to recover lost revenue, but it looks like they now have played that card.
So, what happens if revenue continues to be lighter than expected?
Another discounted raise?
The next KPI’s have suddenly become even more significant.
I saw someone suggest that they expect directors to start buying again now that the close period restrictions have finished. Love to see it, as it might provide me some reassurance, but I suspect its very unlikely.
However if and when it does happen, it would suggest things are back on track.
Matt, qed are discounting at 17.5% after doubling in the last few months.
Whereas avct are discounting at 38% on a share price that fell on the months leading up to it so im not surprised that you are raging at AS and calling for everybodys head there.
For whats its worth i think avct have a great chance with their products but they are not in the same league as qed when it comes to potential.
Each to their own and lets hope theres a buck or 2 at the end of the rainbow🤗
#BusinessUpdate We have received a financing commitment of up to $150 million. In addition to this update, we have delivered approximately 1,300 vehicles so far in 2024.
See the Form 8-K Fisker filed with the SEC for more information here: https://lnkd.in/eP_xegUf
P McG says rather sheepishly the OEMS have went for the steering wheel option, it’s not as good but it’s all they have to do.
Sounds like a lot of disgruntled Investors at question time.
I predict more disgruntled investors in august when the sp is still languishing sub 10p
"You should buy qed,......"
LOL. Clown. See QED just shafted their LTH again. Another placing at shocking discount which will barley keep the lights on.
Suggest you worry about a company you are actually are invested in for a change.
Thanks Chutz. I hadn't seen that Safestocks one. Great to see Stifel's reasoning and confidence in their predictions.
Big one near the end 4,673,348 !
According to **Stifel analysts**, **Seeing Machines Ltd** (AIM:SEE, OTC:SEEMF) is on track to meet second-half-weighted full-year forecasts this year and achieve profitability next. This positive outlook follows the release of interim results earlier today. The company's growth is driven by new regulations mandating driver monitoring technology in cars, which will be required from later this year. As a result, Seeing Machines is poised for a solid end to the year. Additionally, the analysts believe that the company has a comfortable cash position to reach run-rate profitability by **2025**. Notably, Seeing Machines confirmed underlying revenue growth of **28%** to **US$25.6 million** (£20.09 million) in the six months leading up to December. Furthermore, production has commenced for a **US$82 million interior cabin monitoring program** with a large German automotive manufacturer, ahead of the introduction of driver monitoring rules requiring new motor vehicles in the European Union to be equipped with such technology starting in **July** this year. Stifel emphasizes that the opportunity for Seeing Machines has never been clearer, highlighting the company's **US$22.2 million cash position**. Investors are encouraged to take advantage of the share price as it accelerates toward profitability, with a reiterated share price target of **15p**¹.
Source: Conversation with Bing, 18/03/2024
(1) Seeing Machines on course for profitability after results - analysts. https://www.proactiveinvestors.co.uk/companies/news/1043368/seeing-machines-on-course-for-profitability-after-results-analysts-1043368.html.
(2) Seeing Machines | Safestocks. https://www.safestocks.co.uk/tag/seeing-machines/.
(3) Seeing Machines undervalued at ‘in pole position’ for mass-market .... https://www.proactiveinvestors.co.uk/companies/news/1032609/seeing-machines-undervalued-at-in-pole-position-for-mass-market-adoption-1032609.html.
(4) PRESS RELEASE Seeing Machines, leading driver monitoring technology .... https://seeingmachines.com/wp-content/uploads/2023/06/Press-Release-Stifel-Conference-19-06-23.pdf.
I will tell you whats bizarre telflon terry.
You pretending not to know the history of Lo and volantis, how they work and not too mention their share sales in 2022 following.....
A fly on the wall is worth 2 in the bush....am i right.
Am i right!
18-Mar-24 13:19:22 5.06 100,000 Sell* 5.06 5.09 5,060 A
18-Mar-24 13:19:17 5.09 40,000 Sell* 5.09 5.15 2,036 A
18-Mar-24 11:43:47 5.10 1,852,200 Unknown* 5.09 5.20 94.46k O
18-Mar-24 11:42:05 5.13 1,800,000 Unknown* 5.09 5.20 92.34k O
18-Mar-24 11:26:56 5.10 1,852,201 Unknown* 5.09 5.20 94.46k O
18-Mar-24 11:24:00 5.13 1,000,000 Sell* 5.07 5.20 51.30k O
18-Mar-24 11:22:27 5.13 500,000 Sell* 5.07 5.20 25.65k O
Seize
When manufactured the counter goes up.
Id love 10p for every mars bar in the back store of every shop in the World sitting on the shelf though ;)