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So just the 51 million miles since last weeks Rns yes 5 1 think our wagon has reached the brow of the hill and is starting to gather speed. Only one week so may be out of context but very promising, more income Excellent.
Wilson
The other day I posted the clip from the warehouse, packing guardian units to go out the door from only 1 distributor. Selling for $2000 each & dont forget buying them for 21% cheaper now aswell.
$629,760 income for 12 months on them 3 pallets of 192.
So based on only 500 units per month installed Globally that adds $1,640,000 onto the 12 months turnover. More realistically it seems adding closer to 1000 units month atm.
Any business that adds $1,6m to turnover every month based on 1000 units is certainly not to be sniffed at.
Obviously there's unit costs, installations & commissions to come off that figure. Even so it soon ticks up.
Hi Terry,
Isn’t the Guardian hardware price well below £2000 or have you just checked with SEE?
Hyms
It was posted somewhere recently. Always in Aussie Dollars. Ive not seen UK prices posted anywhere so cant comment, but most business atm is down under anyway.
A$2000 hardware
A$500 installation
A$65 month monitoring fee
Just waiting for some news on that excited insurance company now. Hopefully them 277 offices will be packaging up a deal on discounts for installing Guardian on a 3/5 yr contract and be free or even a cost saving on your insurance.
Who wouldn't install one?
Elon
Hi hymns, per the H1 2020 accounts it was $1,404 per unit I calculate (hardware and installation).
(Per note 3 Revenue - Off-road hardware and installation €Aus 6,3m. Units installed "greater than 4,500".
You say that, but there was that picture on LinkedIn of SEE technicians working on a Tesla with SEE branding on it. Who knows what is going on behind the scenes?
But, that said, you’re likely correct. Probably Elon in fairness!
Fleet driver monitoring average $Aus 34 per unit per month.
Also note 3
Driver monitoring $Aus 4.1m divided by average 20k units over 6 months.
Glandore
Thats interesting. I would expect the $500 install charge to go straight to Distributor. Then the $2000 distributor discount of X and i would presume a small % of the monitoring fee would be normal business practice.
Gosh
Its prob same as Fosters lager. The Aussies make it but dont drink it. Only sell it to others.
Tesla aint got DMS yet if your a punter but Elons driving around with the safest one with SEE DMS in.
Glandore
This is where the figures get a bit messy to interpret and unit costs look lower than reality as its a rolling figure. The 6 months based on 20,000 units was only correct at the end. So start at 14,000 units for ease.
If you base it for ease on 1000 units month for them 6 months, then the 1st month of that period would of been 15,000 units, 2nd month 16,000, 3rd month 17th so on & so forth. So in the figures you are only seeing Monthly income from the previous months sales. The last 1000 installs would show now monitoring charges so when you divide by 20,000 the averages dont work out unless you had 20,000 to start the period.
Hope my waffle makes sense lol
Thanks Terry and Glandore,
So either $1404 or $2500 for hardware and installation. By the fleet mileage, we can probably safely assume installation numbers are ramping up.
Monitoring fees of $34pm is rather cheap... this business is already profitable but surely $34 is too cheap.
True terrym, they started with 16,000, finished with 20,500 so I should have used 18,250 as a more correct mathematical average. This gives $Aus 39 Monitoring revenue per vehicle per month. I think we could all settle for $AUS40 per vehicle per month for ease of memory/calculations.
Hi hymns, it is not "either $1,404 or $2,500 hardware and installations".
$1,404 is Seeing's revenue per unit installed in H1 2020 per their accounts which is what most concerns investors I presume.
$2,500 is a figure estimated as the costs paid by an end customer.
It is like comparing the price paid to a farmer for a litre of milk to the price we pay for the same litre at the shop counter.
terrym Maybe that’s the answer! ;)
Glandore
Yes thats slightly better using that average but what happened in reality because Covid was Jan/Feb was prob ok then March/April wiped out. Then half of May aswell & the last 6 weeks started again.
So 2 months of sales had 4 & 5 months income, 2 months of nothing, 1 month of 1 month and Prob June with nothing.
So may of been well behind by end June & then catching up July/August. Then that would tie in with Whatifs amazement at July Aug looking more like over 1000 per month i think he said.
The next half figures to Dec 31st will clarify the situation more as we know we started on so full 6 months monitoring then add in average of a decreasing monthly.
Hi Terrym, I think you are confusing periods. Fiscal H1 2020 was Jul - Dec 2019. That is the period for which we have the latest accounts.
Terry,
We all want this to do well, but you need to tone down your expectations on fleet numbers. Quite how you seem to jump from a possible 500 installs a month to expecting 1000 I have no idea. You seem to have just plucked that out of thin air.
It makes a massive difference in figures and expectations.
Since July the mileage suggests 650 a month at best.
I'd be very surprised if that increases that much in the short term.
Glandore
Yes your perfectly right, well spotted. Iam thinking last half year finished June but the proper results your referring to are the ones ending Dec 2019. I hate accounts starting mid years.
Be great to see what the actual figures are from July-Dec 2020, without loosing 2/3 months out of it with Covid restrictions slowing installations.
Brock
I try not to pluck anything from thin air as iam a rubbish catcher :(
The 6 month period ending Dec 2019 was 750 units month. The Jan - June 2020 period was nearly 3000 units, so 500 units month. Considering nearly 50% was Covid restricted thats not bad.
As got back up & running in June, and from whatif had down for July/Aug on data, you would expect them 2 months to be higher as catching on installs from 2/3 months where no installs, or very minimal installs took place.
In Jan 2021 we will know the figures for the 6 months to Dec 2020. I would expect a low of 3000/3500 units & a high of 5000-6000 maybe. Not sure on expectations from SEE atm though as not seen anything?
Even if based on your 650 month average its still a nice number....
Units & Installs A$ 9,750,000 Retail
Monitoring increasing per month after install A$ 42,250 = A$ 507,000 P.A.