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Smarteye have announced quite a lot of small follow up orders that we didn't bid on as it was an extension of previous contracts.
Either our oem's haven't given any follow up orders or we just haven't announced them as they're relatively insignificant.
I expect/hope it's the latter. Although our "cumulative initial lifetime value" hasn't changed between contracts to reflect that.
One CEO started a company with his dad straight out of university. Has some technology skills, but not necessarily any great business skills.
The other has had a long and diverse career across a multitude of sectors and functions. Who was brought in when the company was having problems.
I know which horse I'm backing.
There's a couple of saving graces.
DMS will become mandatory in the EU within the next few years.
Our competitors aren't winning too many major awards.
So we know there is still business that must be awarded. If true that we have the only working DMS option in a mirror then that will be the quickest and cheapest way to integrate.
Oem's are running out of time so will look for the quickest solution I expect.
No worries. Not sure how much Redeye actually understand. They've got Smarteyes DMS (including NRE) gross margin at 100%.
What they do show is the deterioration in ASP per unit. In 2022 it was $6.20 by 2026 it will be $5.43.
That's way below our ASP.
They're selling a commodity and we're not.
2 of the major employees in the aviation division have actually left recently.
At the time I though it was because an aviation license would be signed and we would therefore not need direct employees anymore.
That might still be the case, but until we get an aviation license the division definitely doesn't look stronger.
I'm not sure I agree with all your findings.
First of all $600m is the 2028 figure. This amount is likely to grow as take up increases in subsequent years.
As others have pointed out this excludes fleet and aviation and any potential new markets.
With regards to taxes we have the ability to reduce or minimise them by using losses in previous years.