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Dream Machine,
As a newbie you may not be familiar with how many SEYE wins have subsequently been scaled back or lost; BMW, Jaguar, Audi etc. There is also talk of them losing Volvo.
It's also commonly known that SEE is very conservative re. the value of its wins, indicating minimum values, not 'going large' as SEYE does. For instance, in a note dated 10th May 2022 Cenkos analyst Mark Bunce wrote: "The ‘cumulative initial lifetime value’ of these award wins now up to A$345m/US$240m which we believe is predominantly based on conservative
minimum production commitments for initial vehicle models. However, with actual production volumes usually much greater than minimum commitments, and the technology already being seen on models beyond the initial award win, we believe the likely lifetime value of these awards is already considerably larger."
As Seeing2020 coined the phrase 'McDelivery', I may be infringing on his copyright by stating PM has delivered on his promise that we'd win sizeable auto contracts this quarter. Still, it is true. Moreover, I'm confident we'll have a lot more good news coming out of CES - not least the launch of Gen 3 Guardian. Those buying at these levels should have a lot to celebrate in 2024. Where is Baxter today? (In the soup?)
Thanks Baxter for your view, doubtless based on your customary level of deep research and forensic analysis. Given SEYE's track record I'm quite content to stick with SEE. If I had the funds I'd certainly be taking advantage of this 'buying opportunity'.
This appears to be a relief rally, as a fundraise will give it some breathing room. However, I'm disappointed management tried to BS that a fundraise wasn't needed when it was obvious it was months ago. Unless you're heavily into this there are stocks offering good upside without the risks.
It was good to get an auto contract yesterday, although it was 'only' $15m minimum. However, I'm expecting a bigger one before Xmas as revealed by both PM and Ives recently. That ought to set us up nicely for the official CES launch of Gen 3. What kills me is the fact Stifel don't release their notes for SEE, although they do for other AIM stocks. Can SEE please do something about that? He who pays the piper and all..
Haggis,
Are you a reincarnation of ShortWhacker?
It's a jam factory that is now, finally starting to ramp up production. You can have it in 3 flavours; auto, aviation and aftermarket. But I've a feeling this brand won't be around for too much longer before it gets bought.
Here are 2 websites that provide stats on car sales. They are well worth bookmarking for future reference.
1) Bookmark this site for European figures: https://www.acea.auto/figure/new-commercial-vehicle-registrations-in-units/
2) When VW does launch with SEE DMS, our quarterly figures are going to go through the roof. The Volkswagen Group website displays the monthly deliveries to customers: https://www.volkswagen-group.com/en/deliveries-to-customers-15741
(Note that even trucks are provided).
Cheers to all. (Even you Baxter...lol).
Well Baxter,
I can appreciate your frustration but don't lash out at those who actually do some research and spend time and effort analysing where this is going. Even you must admit that the financials are improving and we've now 1.1m vehicles on the road growing every quarter.
I think a little bit more patience is required. Did you not read the RNS re. Collins? Have you not seen what it has developed for the aviation sector working with SEE? Gen 3 Guardian is going to be a game-changer.
I have this mental image of you in a kilt and sporan, gnashing your teeth at anyone who is positive on the business but, aside from the share price, the business has never been stronger. Give it to Xmas and if we've not had a big auto RNS and news of the Gen 3 launch I'll join you in dancing the Highland Fling on PM's proverbials.
Baxter,
For someone that has had nothing good to say about Seeing Machines, you seem to spend an awful lot of time on this board. FYI information Seeing Machines was in discussion with Bosch back in 2018 only a take-out price couldn't be agreed.
Then of course the issues with Fleet surfaced and we had a rough few years, what with Covid.
You can call it Phish but regardless of the exact date we expect SEE to get taken over, most of the investors here expect that to be the end game. Besides, what have you ever contributed to understanding the company, the drivers and where the business was going? You do no research but just come on here to moan.
This business is doing well and it's a huge frustration that it isn't reflected in the current share price. Unfortunately, the share price doesn't appear to be a key concern of the management. Here's perhaps why: https://www.safestocks.co.uk/2018/07/12/understanding-management-priorities-on-price/
This isn't a damning criticism of the company. I'd rather they put the business first than trying to 'fix' the share price with rampy stuff (like some of our competitors). However, it needn't be an either/or. Indeed, there is much to be said for putting some thought into increasing the share price, if only to keep current investors happy and attract momentum investors.
Still, I'm convinced that the market is close to re-evaluating this company's intrinsic value. It just requires a few more large contracts, which I expect to happen soon.
Johnny19,
Thanks for that. Certainly, those quotes in the article are open to interpretation although Stifel appears rather conservative yet again. Only PM can clarify, which I hope he does at the Investor Meet presentation. I still think that before the end of this calendar year they'll launch Gen 3 with big volume contracts (plural) coming in H2 2024. Good luck to all holders.
Hi Johnny,
Do you have the source for that comment? I'm hearing the official launch will be before H2 24 but PM should confirm at the Investor presentation. It's too big a project not to update on. I am also anticipating huge orders for Gen 3 in this financial year.
Thanks.
I'm looking forward to hearing Paul McGlone confirm Gen 3 will be launched this quarter at the InvestorMeet presentation.
Guardian has the ability to save countless lives and prevent truck and bus accidents across the globe. It's a no brainer to install it for companies, as the costs of not doing so could result in huge legal costs in the event of an accident: https://abc7chicago.com/pace-bus-chicago-settlement/13028935/
See really needs to be more aggressive in putting the message out to the media and marketing the benefits to companies.
I'm looking forward to hearing Paul McGlone confirm Gen 3 will be launched this quarter at the InvestorMeet presentation.
Guardian has the ability to save countless lives and prevent truck and bus accidents across the globe. It's a no brainer to install it for companies, as the costs of not doing so could result in huge legal costs in the event of an accident: https://abc7chicago.com/pace-bus-chicago-settlement/13028935/
See really needs to be more aggressive in putting the message out to the media and marketing the benefits to companies.
I agree, no one deserves to get wiped out. This was high risk even when it was much higher. Most of us have experienced losses in our time. The important thing is to learn from it. Good luck to all here. And those who recently ramped this should have a conscience and try harder not to lose their integrity.
Oldfool13,
I agree the ultimate decision is with the car manufacturers but PM felt sufficiently confident to say we'd win contracts (plural) in the "next quarter". All I want is clarification and an update. Surely, that's entirely reasonable? I'm sure some fund managers would expect the same and as we know (remember the Italian job interview) it isn't an even playing field for PIs and IIs.