Member Info for Lewbo18

Bottom right is calendar year wins.

https://imgbb.com/n7RBGzS

Expect Qualcomm to announce big deals at CES.

I dont think SEE have issued an rns to cover Volvo so doubt this is us. However future rfqs for Volvo could get tricky for Seye

Yeah if the 170k bookings turn into sales thats a great boost to come next year.
Wont take long to hit 1m cars and yes the ASP is much higher it seems than competitors for the reasons already stated.
Coupled with 90%+ margin on each car that hits the road is very impressive!

Fair point Seize about Seye almost giving their software away to win business.
The issue is that they've only that option to keep knocking a $1 or more each time the T1 or OEM asks.
Paul has explained that SEE are able to shave costs from the whole implementation by design and protect our margins.
Unfortunately Seye maybe should have raised several months ago, but that would have been on the back of Oct2021 share issue and cash to buy iMotions and May2021 shares and cash to buy Affectiva.

Also i guess in the year that SEE won 80% of the business, Seye didn't pick up much and they need cash from cars hitting the roads now, not in a few years.
So if they claim 1m cars on the road, where's the cash on their balance sheet? Spent it appears.

Its clear at present that there are a handful of DMS providers that have won and will win contracts going forward. Of course each provider may not bid for all RFQs (request for quotation) due to maybe price, volume or other factors. If its not worth it in terms of profit or engineering time why bother?
So SEE are funded through to profitability, sometime in 2024 which our FY starts next July. Magna deal secures funding.
Our main competitor (proclaimed by their own 'broker' Redeye) as the King of DMS has according to Redeye cash up until Jan 2023. So they have to raise money. Redeye suggest SEK 200m.
They are considering their options on raising cash. In April the Seye board agreed they could only raise 10% as a share dililution. Redeye suggest this means half of the 200m SEK will have to come from cash loan. Of course they could go back to their Board and change the rules. Todays markets mean it will be expensive. Also Redeye state it'll keep them going based on cashburn to about Sept. That assumes their income increases dramatically from cars on the road.
Failure to do so will mean more raises probably early summer.
Its difficult to imagine OEMs or T1's not requiring liquidity from their suppliers, up until now.
Hopefully Seye get sorted as it's important that OEMs are able to compare and contrast DMS providers offerings to enable them to make choices.

Yes Fisker is a Magna win along with VW and Honda IMO. The Magna deal was massive and no doubt several of the current and soon RFQs will be won with them. Magna funds "us through profitabilty". Of course the Magna deal is only 3 years and only where our IP is embedded in the mirror. That restriction means SEE can deal with all other placements which allows our IP to be used in QC or others centre consoles and ECU processing of our IP.

Thanks for posting Schlem, may not be SEE but QUALCOMM link may lead to SEE down the line. But then again I dont know if it is or isnt as far as I can SEE.
Pauls confidence of 50% of DMS inc China must start somewhere and QC may or may not be our link.... But as far as I can see who knows.

Ford and VW have firmly moved to our neck of the woods. Perfect storm brewing.
I expect oems now to include DMS in the same way they do seatbelts.
Well done SEE for positioning the company where we are. SP will react when wins and licenses are announced....

Yeah I would doubt that SEE will get paid twice per oem. Margin of 90%+ is a decent enough money printing press at SOP.
But i think we all agree now the team has done a great job getting us to where we are.

Interesting post Timc.
BOD and Senior Management have done a great job and deserve credit getting SEE into the position they are at.
No funding issues and aligned with some of the biggest players in the industry. Not just aligned but integrated into.
Our main competitor has (according to Redeye) cash to get through to Jan. Losing OEMs, struggle to get to SOP, spending money on buying companies rather than the tech. Which BOD has done better?

Terrym,
Excellent interview with Nakul and I'd recommend investors listen to it.
Deal with Renault is interesting as he said Renaults competitors came in to see what they had done. Interviewer said well we look forward Nakul to more oem wins then!

Seems that as we are aware wins on minimum contract values turn into multiples of that. High margin revenues are in play right now

Seems Qualcomm are tying up major OEMs at an impressive rate.
They've mentioned CES a number of times and wouldn't be surprised to see more adopting the newest version of the digital chassis.
With legislative headwinds oems who havent reacted so far could be in diffs. They need a solution ready made.

Phil, of course we know fleet is making money already and automotive margins are 90%+ which is remarkable for every car on the road.

Mobileye were loss making the year before the original IPO.

I would expect SEE to be at several partners presentations/stands.

Didn't Magna and SEE co-build a demo which i can only assume will be front and centre

Great article that....

Winners and losers
Who are the biggest winners? Qualcomm. We need only put recent news flow together to see the big picture. VW Cariad has partnered with Qualcomm; Qualcomm announced the Snapdragon Ride Flex system-on-chip barely a month ago, with multiple automaker design wins; Ford and VW are Argo’s two backers.

Smart Eye is excited to return to #CES2023 in person!

January 5-8, 2023, you will find us at booth 6353 in the West Hall at the Las Vegas Convention Center, demoing our latest and greatest #DriverMonitoring (#DMS) and #InteriorSensing tech.

So Seye are having their own booth.. Again.

Between now and then they have to replace their CFO who left the company last week...
And
Raise some finance

Regulatory tailwinds are pushing DMS/OMS and now Ford are the first major oem to admit L2+ and L3 are its priority and future, short and medium term.... And maybe long term.

Fords focus will now be on L2+ and L3 systems and in particular its Bluecruise system. Both of which require DMS/OMS