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I'm expecting Peel Hunt to upgrade its price target very soon, possibly following the H1 results next week. The KPIs this week were positive and its increasingly clear that Q3 KPIs will be even better, taking SEE past 5.5m cars - way ahead of SEYE and Tobii. OEMs selling into Europe have to have DMS to comply with EU regs by July, and they must have it now to obtain a 5 star EURO NCAP safety rating. Cars shipped is the gold standard measure of SEE's dominance of the global DMS market - that's why SEYE avoids mentioning it while claiming to the 'King of DMS'.

From Colin Barden's latest post on LinkedIn, Dacia is now using the same DMS as Renault and as we're in Renault it looks like Seeing Machines has bagged another OEM:

"Take a long look at this picture. It reveals what is actually happening in the hashtag#DMS market in Europe, not what PR narratives attempt to portray is happening. This is the 2026 Dacia hashtag#Sandero with DMS in the A-pillar. This visual evidence blows apart the PR stories of who the DMS market leaders are. There is no program award obviously attributable to Dacia. So how can the Sandero possibly have DMS? The missing link for the DMS market that no one thinks about: hashtag#platformsharing.

Look carefully and we can find this exact same Dacia DMS module in some Nissan models and some from Mitsubishi too. What is the common thread linking Dacia, Nissan and Mitsubishi? Renault. Visual evidence shows Renault models also going to start-of-production with this same DMS module in the A-pillar. The example shown here is the 2026 Clio. Evidence implies the original program award was with Renault but that the DMS has since been "platform shared" into Dacia, Nissan and Mitsubishi."

Seeing2020,

That's a great point about incumbency. Colin Barnden keeps making the point on LinkedIn that one company is going to take over 50% of the DMS market, without naming them. "Just one algorithm developer is set to take over half the automotive DMS market in Europe in 2026, which inevitably sets the stage for the market share ranking in 2027." Fortunately, holders here know who that company is.

I trust Seeing Machines to deliver on its promises: from here on it will be cash flow positive. As the ramp up continues by OEMs to meet legislation and install DMS in all new cars sold in Europe SEE will surpass 750k cars a quarter and 6,000 Gen 3 unit sales quarter after quarter. It is also expanding into new markets, such as robotics with Mitsubishi and perhaps others. With 4.8m cars produced with its tech SEE has left its rivals way behind. It's the global leader in interior monitoring. And its currently on SALE!!!

Here's a view from Safestocks that quotes Stifel analyst Peter McNally at length: https://www.safestocks.co.uk/2026/02/11/seeing-machines-accelerates-towards-profitability-in-q2-with-4-8m-autos-on-the-road/

Mike SmithJR what tripe you talk.

Baxter,

It was a positive update for anyone looking ahead. The ramp up is real. PM isn't responsible for the decisions of some OEMs to delay new RFQ decisions, none of which are going to stop SEE being cashflow positive for Q3+Q4. Mr Market has got it wrong and will soon change his mind - but by then this won't be 4p. All the tree shaking by MMs will only convince weak holders to sell.

Https://www.investegate.co.uk/announcement/rns/seeing-machines-ltd-npv-di---see/q2-fy2026-quarterly-kpis-/9424685

578k cars is a new record…and 3,784 Gen 3

My recommendation is to filter the following: ShortWhacker, Brokeinvestor, UserSteve, blackcap, KBW101, Breaking.Dench, ColdFishPie, haveagoodday, ForensicBloo, Heathcliff1 it makes for a much better experience on this BB.

I'm confident about Amazon, as this was confirmed by Safestocks: https://www.safestocks.co.uk/2025/11/12/seeing-machines-seals-amazon-contract-in-the-us/

I've no recollection of stating firmly that Fedex or Coke had signed contracts with SEE.

Lack of news for the past month has caused this drop. I take comfort in the fact that the volumes are tiny and the derampers are taking every opportunity to spread doubt and fear among those who don't do much research. Longterm holders know profitability is now assured. Still, a few more contracts would get the share price to where it ought to be; back into double figures. In the meantime we await the KPIs.

No need to be downhearted, this is a great stock. Investors need to have the courage of their convictions made concrete by research. Lets the traders crumble and sell. I held at sub 2p and am still holding, confident in the ability of the management and its staff.

Imagine, if Henry V had lost his nerve before the battle of Agincourt. ISB if you need to gird your loins, I suggest you watch Henry V's St Crispin Day speech. "All things are ready if our minds be so. "https://www.youtube.com/watch?v=0tj74jDa0fk

we need better pr and more broker coverage. only the house broker is really positive at the moment and they're not considered truly independent. however, what is really lacking is firm gen 3 contract news...amazon wasn't named as a customer and, despite it taking some gen 3 we're waiting for the huge follow up orders. moreover, we surely have other big contracts pending. traders and many hard pressed pis have itchy feet and move out into stocks with more momentum when see share price falters.

if i drank carlsberg during the day (which i may start doing it if drops to below 4p) i'd also like a robotic license deal for see's 'perception stack' to be announced and trumpeted in the us, probably in conjunction with a big chip maker; amd, nvidia, amd etc. hats off to seye for making a ****-up look like victory - maybe martin should be running the press office for trump and starmer.

the story is still overwhelmingly positive here but the share price is a poor reflection of the value on offer.

Thanks Baxter, I can always rely on you to do some deep research and apply your honed analytical skills to explain it to the rest of us...moving on...in other news:

1) Tobii proves it is a total basket case that no OEM would trust with a contract going forward.

2) SEYE buys Sightic in desperation to fix its 'world first' alcohol detection technology, which has a problem with false positives.

Oh, yes SEE is useless and I should be rushing to sell my shares given the strength of the competition.

Strange ideas? How dare you...lol. Still, I do agree with everything else you said.

I very much doubt that SEE bid for this small Japanese contract worth $5.7m over many years. According to Redeye SEYE only getting between Euros 0.5-1 ASP per vehicle for alcohol impairment feature. SEE will have gone after much bigger, profitable, contracts and will aim to get at least double that ASP, I'm sure. It offers much more than mere software and is the most technologically advanced.

My understanding is that the NVIDIA system that JLR has chose back in 2022 can work with other DMS/OMS suppliers. However, given the fact the DMS/OMS appears to have only one blinking light, are the tech experts here confident it cannot be Seeing Machines? I know the lack of news/RNS also points to that. However, SEE and JLR are pretty familiar with each other and I would assume JLR would have benchmarked the NVIDIA DMS/OMS v. SEE at some stage. They could even be dual sourcing, as are some OEMs.

This level of uncertainty is one reason to put your faith in the quarterly KPIs above all things. They can't be fudged/distorted.

Https://blogs.nvidia.com/blog/nvidia-jaguar-land-rover/

Nice find Mikey. Definitely a positive for SEE. Still, in the UK the average car is apparently 10 years old. Successive governments have failed to improve UK economic growth and help working people to afford new cars. EV grants are poor, even while we spaff billions on overseas wars that just create more refugees.

Nice find, Chutzpah. Interesting podcast among the information: https://www.media.barclays.co.uk/serveaudio/158452-1168795.mp3?dnt=1

Https://www.cartken.com/ Look at the list of partners.