The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Https://www.motortrend.com/features/in-car-camera-technology-driver-monitoring-systems/
I do if you fancy unbanning my account? m.3 (@M3C2V)
Interesting patent which was just granted to SEE
https://patents.justia.com/assignee/seeing-machines-limited
Thanks for sharing Brockwl
From that perspective it's looking even better for SEE, they are at approx. 1/3 of our annual revenue but still have an MCAP higher than us, based on highly speculative figures, these don't seem to be on par with how SEE provides their conservative figures.
Thanks for pointing that out Nathan, I got carried away with the £ sign, ha
Looking at SEYE they have a MCAP of £3billion and a turnover of £300million per year, admittedly our turnover is lower than theirs at £59million but SEE's operational highlights they mention that the majority of the £366million revenue will be expected by 2028, so we could potentially be at £100million a year turn over as the royalties build up over the next year or so, it's high margin too.
I was looking at a new BMW last weekend, I questioned the sales guy about the technology plus pack and the subscription pricing, he advised all new cars include a free 3 years subscription (so it's only paid for after the initial warranty period, most people will trading their car in on PCP in that time too), so it seems like the royalties with BMW are a given and not an option, as long as the right packages are selected on the vehicle when purchasing.
There's approx. 4.19 billion shares outstanding, at 0.15p per share, that's only selling out at £628 mill #MCAP, at 0.25p per share this only takes the company to £1.047billion, surely with a pipeline of over £366 mill and that's before any further RFQs are won, or further development in the aviation industry, surely this company has to be worth more than that!
I've been doing some quick calculations and I reckon the management here wouldn't accept less than 25p a share in a buyout/takeover bid, does anyone else care to share their thoughts or have a model they care to share on here?
Https://www.redeye.se/research/991607/smart-eye-ais-order-and-comments-on-gsr
Yesterday’s stock movement
The most likely explanation behind yesterday’s stock price drop is the statement from Seeing Machines that the GSR regulation for 2024 type approval of new vehicles allows legacy steering-wheel-based DMS for drowsiness monitoring, aside from the advanced camera-based DMS where e.g. Smart Eye is involved. While this statement is true, it is unfortunate and inadequate since distraction monitoring requires advanced DMS. Thus, in order to fulfil both distraction and drowsiness monitoring, advanced DMS is required. There is no way a steering wheel torque sensor can understand that a driver is distracted from simply how the driver steers the vehicle.
Another possible explanation is the first ratings from the Insurance Institute for Highway Safety (IIHS), which is a US traffic safety organization that influences the US equivalent of Euro NCAP – National Highway Traffic Safety Administration (NHTSA). No DMS received a “Good” rating, but the least bad ratings were awarded to car models with advanced camera-based DMS. Our main conclusion is that the high standards from IIHS are positive for the market-leading incumbents, i.e. Smart Eye and Seeing Machines. A good-enough DMS that barely passes GSR will simply not cut it, which is similar to Euro NCAP’s demands. The IIHS test scores are one step forward for a coming US DMS mandate from NHTSA, which is also something that all OEMs are preparing for and have prepared for, for a long time.
Alternatively, it is just a normal, unrelated sell-off, following a time of strong price appreciation.
Alternative source:
https://markets.ft.com/data/announce/detail?dockey=600-202403260400PR_NEWS_EURO_ND__EN70624-1
Https://www.busandcoachbuyer.com/full-coverage-national-express-reveals-van-hool-altanos/
It's great that they are starting to disclose names now, they must have approval after the vehicles have been released:
Driver and Occupant Monitoring trends in Automotive and the opportunities ahead
To date, the majority of Seeing Machines' revenue generated by passenger vehicle production royalties has been driven by optional Level 2/3 (partial driving automation) 'hands off, eyes on' driving systems (leveraging Seeing Machines' DMS on more than 30 car and truck models across Europe and the US). These systems include General Motor's Super Cruise, Ford's Blue Cruise, Daimler's Drive Pilot, BMW's Highway Assistant and others that the Company is not yet permitted to disclose.
Wow, look up sophie nicoll on linkedin, our vp corporate communications, look the latest video and check out the comments section, it won't let me share via the app.
Other firms are actively promoting in the comments without a single intervention from her, horrendous! Posting an old vid where it mentions only 25k vehicles on the road she has to go!
We know that the royalties which are due to come in are going to be from manufacturer royalties, it doesn't necessarily mean the full cost will be passed onto the consumer, you can see this in the options detail for Bluecruise. The amount received in royalties will depend on the plan chosen by the manufacturer, I remember Paul saying they have lots of different options which can be added or removed which impact the pricing, the wins announced so far are to include the options selected at the point of winning the RFQ.