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I ask because in Europe there is a strong aversion to EVs.
Successful start to 2024.
Parallel to our dynamic BEV ramp-up, we achieved our margin targets in the first quarter. We continue to generate strong demand with our strong products.
“The past nine quarters underline BMW's continuity and reliability: As planned, we are dynamically expanding the share of electric vehicles while maintaining our high level of profitability. Some call this transformation — for us, it is continuous progress,” said Oliver Zipse, CEO of BMW AG.
Learn more here: http://b.mw/rsyy6
To my mind what matters on DMS is the revenue to Seeing Machines from OEMs. I don't think we know how that's calculated. But as the OEMs agreed it it probably reflects the revenue they are receiving.
Paul has been very clear its a doubling of cumulative cars on the road every year.
Thats the numbers I have used as its what the CEO has said on numerous occasions
S2020,
Depends how you read or measure 100% growth, they have never been particularly exact on that.
Unlike you I look at 2023 numbers only and expect that to double in 2024
So in 2023 FY we did 638951, so in 2024 I expected double that ie 1.28m roughly.
This also correlated with some of the graphs they showed in various presentations.
You seem to be using total cars on road as your yardstick, and doubling that.
As I've said before cars on road is a pretty meaningless stat, and I ignore it completely. It's doesn't give you any idea of whether proper growth is occurring.
They will eventually drop this stat as the growth rate only looks good in the early years .
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Their job is to win the contracts and announce them as they did 3 trading days ago.
Then, they need to get said contracts to production so we see increased KPIs as we did today.
Not sure what your point is?
Well, it hardly set the sp on fire, we’re led to believe big contracts to be signed off anytime, timing is everything in life.
Exactly, long suffering shareholders have waited a whole 3 trading days since the last contract news
Wouldn’t hurt, magna please
Brock, not sure where you get the 1.25m target from?
Paul has consistently said, 100%;growth year on year
FY23 ended with 1,086,176
100% growth means the FY24 target is 2,172,352
As at Q3 we have achieved 1,830,207 so that means we need Q4 to be at least 342,145 which is a very achievable 9% qtr on qtr.
They may outperform and hit the numbers CB suggests, however Paul has consistently said 100% growth and thats what he should be judged on.
Few private investors will know much about Seeing Machines. I would expect todays figures to have a trickle effect with press coverage leading to more investors having a look some of who will buy in. Institutional investors will have processes to go through that will take days or weeks and I would expect a few of them to start building stakes. A few, of both categories, may wait for the August KPIs to confirm the emerging story. So I think we have six months of strong support for the share price. After which cash flow positive will be in sight and SEE will become of interest to investors looking for strong cash flow with a pretty good moat.
Of 1.25 million could be hit. 4 to 500 000 numbers for last qtr now seem doable and I didn’t think I’d write that. Still staggered it’s only at 5.2p. Should be double figures surely . Two more decent qtrs of Kpi’s and people must begin to take this more seriously. Even me
At last, some half decent numbers. Which is a big relief after the Auto stagnation for the last 2 quarters.
Whilst I’m very pleased with these numbers, we shouldn’t forget that at the beginning of the year the forecasts were for 1.25m cars for the year and we are now only at 744k for the first 9 months. So still need another stonking quarter to be fully back on track.
However, it does look like the predicted growth from BMW and VW is now in progress, and we should see these numbers continue to increase at a decent rate.
Fleet numbers were also OK, ticking along at about 10K increase a year.
I was a little disappointed with the share price action. Given the recent fall, I felt these numbers were worth at least a 20% rise today, but we only got 10%.
Hopefully this will continue to rise over the next few days, as new investors see the potential, and existing investors accumulate more at these prices.
At this price I am now a buyer when funds permit.
Good to see volume picking up !
Wonder if any directors by more or if Lombard Odier take another nibble ?
If that were the case, I would expect them to retrospectively update the prior quarter not artificially add then to this as that would be bad practice. Paul can clarify, but I'm sure he would call it out of they had done that.
The numbers are what I would expect given the immense ramp we should be getting from BMW and VW. These are true numbers and we are now on the road to plenty.
Good figures, but I'm not quite as bullish as some as I have my suspicions that this quarter's 313k+ might have included some of the ones that went missing from last quarter. Hitting 350k next time would keep my projections quite happy! Don't go getting upset with me, like everyone I am hoping you are all right with a much higher figure...
We now in 3000 cars per day in production. Considering BMW ramp up & they make about 7000 cars per day on their own, add current other models then add VW and new models coming this year we should soon be saying remember the days when we was only in 3000 a day :)
We only just starting to scratch the surface of the potential atm....
The next KPIs, to be released in August, will comprise a full three month build for the Magna program, and will almost certainly start with a four, and maybe even a five.
Would be ace if we did have sight of numbers to announce 2million on the date alluded to in CB post for Smarteyes agm/quarterly report where they may also announce 2m. S@#£housing at its 👌
Be good to get Colin’s thoughts
He’s been calling it all along !
Based on current numbers in Auto we should be hitting 2 million cars this month.
Lets hope SEE make a song and dance about it :) Once they know 2 million has been hit :)
Do we get a Paul interview after TPI Qtrs normally?
Peel Hunt reaffirmed its buy rating on Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) after the advanced computer vision technology said it is on course for a cash break even in the year ahead.
Analysts cited Seeing Machines’ sequential production growth in the third quarter and “the rollout of its largest contract with the Volkswagen Group (XETRA:VOW)” as key drivers of Seeing Machines’ investment thesis
Peel Hunt anticipates further production increases in the fourth quarter “as it expands the market reach of its leading cabin monitoring technology, utilising a single camera in the rear-view mirror across more models”.
“The number of monitoring connections has increased to 59,706, in line with our expectations,” added the broker.
Peel Hunt gave the stock a 12p price target. Shares flew 14% higher on Tuesday following publication of Seeing Machines’ third-quarter results.
https://www.proactiveinvestors.co.uk/companies/news/1046968/seeing-machines-production-ramp-up-bolsters-broker-s-outlook-1046968.html
Think i'll will sit on my holding for a while and see what happens.. all in the ISA so no rush to sell!