George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I did try and warn people not to believe the hype. We're going into a major recession and flooring is a luxury item for most. Jiggery pokery on the accounting front should be a major red flag.
Looking at its own accounts it made a pre-tax loss of £110.6m. Debt is up and it burnt through £170m (admittedly, due to some aquisitions). What's to like with a recession coming and discretionary spending under pressure? With Peel Hunt putting an £8 price target on this I think it may go higher but the writing is on the wall if you examine the figures and bear in mind a recession is coming. Just my opinion and of course DYOR.
Excellent post by Terry drew my attention to this comments thread: https://electrek.co/2023/08/25/tesla-autopilot-probe-end-nhtsa-hints-forcing-changes-driver-monitoring/
Elon Musk has a chance to play a 'get-out-of-jail 'card by using SEE tech. Will he? He may even do a Victor Kiam and buy the company.
JustThinkItThru.
That was a very interesting comment. I agree about funding being an issue.
Btw, have you taken a look at a company called Seeing Machines? My email is maplinman3@gmail.com as I'd like to keep in touch.
I was expecting an auto contract this week, tbh. I don't think we'll have to wait very long for the first one. As to the rest, well they'll surely come. A minimum 50% by value (40% by volume) of this huge global auto market has been confirmed by PM and Nick DiFiore previously and PM reiterated the volume figure this week. I expect it will be much, much higher in reality but they are conservative by nature.
Glandore,
The Safestocks estimate assumed £3m from Collins licensing deal (May RNS) being included in 23 figures. Cenkos state only $0.5m from Collins in FY23 revenue so a delta of $2.5m. $57.8m + $2.5M = $60.3m
Regardless, all the broker analyst's estimates were beaten. That is a huge positive. You can't paint that as a failure.
My only disappointment was no date for Gen 3 launch but if Proactive can ask Paul McGlone that simple question he should be able to answer it. As to Fleet numbers, they should really ramp up this year with the launch of Gen 3. Moreover, the margin is higher for SEE so it will really improve the bottom line.
I see no need for negativity. The business is progressing apace.
Every financial analyst disagrees with you and states that the company is funded to profitability. You can see from the figures today that growth is impressive and while it is using cash to grow it secured funding to do that. You can't secure the lion's share of a global market without some costs.
The figures for growth in auto and fleet are good. The $3m Collins money is coming in this year's figures along with monitoring from unconnected Guardian. No financial analyst is concerned by cash burn and all say it is funded to profitability. Read: www.safestocks.co.uk for some reassurance ;)
Https://tenor.com/view/its-time-nut-up-shut-up-zombieland-gif-15913838
I'm not happy with the share price but I'm determined to hold onto my shares for, on the 22nd August, I'm expecting positive trading results and details of the Gen 3 launch date. DMS tech has been mandated for all new vehicles in Europe and SEE is the leading provider. Sure, some car manufacturers are dragging their heels as will some truck manufacturers but the tech is coming.
The high-margin royalty revenue for every car with DMS will continue to grow and there is no reason to doubt the base case for investing imho.
I'm pretty sure the figure for ASP is above $10 but let's park that as I can't find the source at the moment. Btw, I heard PM say we are the only bidder on Aftermarket contracts in the hundred thousand size - however, I wouldn't consider that a 'fact' unless corroborated by an independent 3rd party.
Re. the feature sets, a figure of around 50 was mentioned from various sources and some cars coming to market now have 4 or more in addition to vanilla DMS. Therefore even using your figures, around $15 ASP is more likely. Just imho, of course.
The reality has been going for a few years Brockwl, just look at how the cars on the road are climbing. As to your estimates for revenue per models, the extra features being added to DMS should help protect SEE's margins. Feel free to be negative (until you've bought back in) but don't bandy around figures without acknowledging that they are your guestimates.
Well the GM Ultra Cruise has to be SEE, with Veoneer as Tier 1 I'm hearing. The question for me is when does SEE get to release an RNS?
https://gmauthority.com/blog/gm/general-motors-technology/general-motors-autonomous-technology/gm-ultra-cruise/
This Cipia win should be of interest: https://cipia.com/news/cipia-eu-oem-eight-models/