Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Looking back at the FY22 and H1 FY23 Accounts - a few numbers....
(used AUD$ : US$ as .67 - today's rate)
Guardian Sales Units
H1 FY22 4,285
H2 FY22 9,078
H1 FY23 1,536
Q3 FY23 1,856 (Plus 1,294 Australia upgrade Sales
Guardian Monitoring Revenue per vehicle
Approx US$ 400 to US$ 450 per vehicle.
Guardian Hardware/Installation Revenue per vehicle
Between US$ 1,000 and US$ 1200 per vehicle
(Difficult to compute as sales and installation are not in the same period)
DMS Revenue per vehicle
Between 11 US$ to 12 US$ per new vehicle on road.
H1 FY22 Loss US$ 10.1
H2 FY22 Loss US$ 6.8
H1 FY23 Operating Loss US$ 10.8 (Before Magna Licence Revenue)
H1 FY23 Loss US$ 5.4 (Including Magna)
Cash Burn
H1 FY22 US$16.0
H2 FY22 US$12.9
H1 FY23 US$18.5
Cash On-hand
End H1 FY22 US$57.6
End H2 FY22 US$39.4
End H1 FY23 US$52.2 (+ US$17.5m Magna Loan not drawn down)
Yes - it would have been nice to see it from a third party rather than one of our two fans.
Here's hoping the SP reacts positively in September when the City types return to their desks and multiple signed contracts emerge from the ether.
Yes isb,,,,
The agreement with Mobileye is joint marketing only. Paul was specific in one of the presentations in pouring cold water on any suggestion that there would be a technology hook-up in what was announced.
People have extrapolated what they wish from there.
I also have a memory of checking how many vehicles Mobileye were involved in on their side with the specific tech we were joint marketing - a relatively low number in the tens of thousands from memory.
It seems strange to me that this "industry expert", 3000 followers, doesn't know who is manufacturing Gen 3, doesn't know when it will be released, doesn't know who is trialling it (if any) - in fact he doesn't seem to know any more than we all do from the company releases. Surely with his in-depth knowledge of the industry we could expect more insight than this.
All he seems to do is throw around big numbers to excite people with nothing other than guesswork and hope to back them up.
"Every BMW coming off the production line now has SM tech on board via the Idrive system".
Hi Seeing 2020,
1/ No Dual Sourcing ?
2/ No legacy production of models without DMS?
3/ Most importantly - How many will we be paid for/ record as Cars on the road ? ( >500,000 per quarter ?) or some lesser figure where the tech has been switched on ?
4/ Since when ? - only 173k new "cars on the road" in Q3 across all OEM's.
Thank you, trying to get the read across to SEE financials.
" The EV was rated in 2022 scoring 85% in Assistance Competence and 100% in Safety Backup for an easy four-star rating. In fact, the Mercedes EQE aced in all of the tests besides the marginal performance of the driver monitoring system preventing it from getting the ultimate score "
Was that SEE's DMS that held the EQE back ?
I'm afraid not ...
"To ensure drivers remain alert, an upgrade will be applied to the traction brake system and if no movement is detected input will be requested from the driver."
Thank you for your comments Brockwl but you are not seeing what I am saying.....
" What you are trying to work out is just too difficult currently. I'd also like to know some of this stuff but the following is what makes it nigh impossible. "
No it is not, I have just done it. What you were trying to work out is a different matter.
1. You are using Fords yearly sales figures, but we are only in 2 to 3 ranges F-series, Mustang, and Lincoln ( no idea which Lincoln). At most that is only about 900k sales a year, in which we could be in, not 2m+
- My point is penetration of their whole sales volume - somewhere between 10% and 18%.
This is interesting in the context of comments that DMS will be in say 50% of all vehicles worldwide. Shows how far there is to go if Ford is only looking at these level numbers over the next 8 to 20 months.
2. a fair number of those sales could also be invalid if in countries where Blue Cruise not mapped. No idea if they are putting our chip in if that is the case.
Possibly but very unlikely I suspect - and the numbers are unlikely to distort the %'s unduly.
3. As I discovered last month when trying to guess our KPIs using ford bluecruise sales, they are selling Bluecruise subscriptions to customers who bought months ago. So for us that isn't a new sale as we already reported that in previous KPIs when our chip was installed.
- I am not looking at SEE vs Ford numbers.
I am comparing Ford Vs Ford numbers - so your point is not relevant.
4. There will also be unknown, unknowns.
Do you know any of them ? (LOL)
If it helps Ford have averaged about 12,000 Bluecruise sales each moth since Sept 2022, except for Feb and March which was 36000 per month. I suspect Feb and March was when they did the bulk of subscriptions to cars purchased months previously, before BlueCruise could be bought.
I'd hope by 2024 they mean 1st Jan 2024. which isn't a massive stretch given 75k sales a month in the models currently available.
- Hopefully that is correct.
" BlueCruise, Ford’s hands-free driver-assist system, will be available in 500,000 vehicles by 2024. "
"Drivers of 193,000 BlueCruise-equipped Ford and Lincoln vehicles have already driven more than 64 million hands-free miles in Canada and the US... " April 2023
https://forecourttrader.co.uk/latest-news/ford-wins-approval-for-use-of-its-hands-free-driving-technology-on-uk-motorways/678252.article#:~:text=Drivers%20of%20193%2C000%20BlueCruise%2Dequipped,its%20kind%20approved%20in%20Europe.
So Approx 300,000 to go to hit the 500,000 mark.
I wonder what does "by 2024" mean ?
1st Jan ?
30 Jun?
31 Dec ?
Makes a big difference in figuring out the installation rate. 300,000 over 8 months or 300,000 over 20 months ?
Ford sold 2.3m vehicles in the US in 2022, probably 2.5m in 2023 based on Q1 figures. ----
300,000 over eight months would roughly equal an 18% penetration rate.
300,000 over twenty months would roughly equal a 7% penetration rate.
" His reversal on DMS has to be good for us. "
Not sure I follow you there terrym.
Another competitor joins the race with huge funds and tech know-how.
How is that good for SEE?
No doubt terry - but Mapped highway driving is a limiting factor for the number of drivers who will buy these systems or the number of models which are suitable.
Until SEE Tech appears as a standalone DMS feature I am concerned that the bulk of the volume product will go the way of other providers.
Time will tell but I will be happier when SEE DMS for 100% of the driving experience is unveiled in a number of OEM's / models. ( Am I right in saying there is not a single Car on the Road with SEE DMS for drive anywhere ?)
Cannot be long now. Legislation approaches and tempus fugit.
Doesn't Supercruise require mapped highways?
We need these companies to offer DMS independent of Supercruise and the Ford equivalent to get mass-market penetration across the globe.
Not sure it is that tasty Terrym.
That is only an extra 1.25m vehicles in a year - €10 m in 12 months at €8 per vehicle.
We need about $30m extra per year to break even.
Those figures would have SEE wound up.
Cheers Mr BB, no intention of quitting.
Just the Zimmerframe was squeaking and I was out of 3in1 oil so I got a bit crotchety.
Doesn't happen so often now as my Lucid moments when I remember I am invested here are less frequent.
Hi Terry,
I am sure the next 6 months will tell us lots - the last six years also tells us lots - if you want to hear.
Those are good points seeing2020
Did you clarify for those people that
a/ SEE is only an option in a small proportion of the F-150 ? and recently there have been indications of Ford double -sourcing?
B/ We do not know how many models/units of Europe's top selling OEM will have our tech?
C/ In ten years Shell is the only significant volume fleet customer - and even then it is maybe only 30k over perhaps five years. ( and the follow on orders from other customers following Shell's lead are signally absent)
I have been a shareholder for 18 years - a big concern now if PMG's apparent lack of real insight into the Auto industry and its machinations
I am still hopeful. But the information flow from the company becomes increasingly opaque and unconvincing.