Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
KPIs continue to show growth and the softer qtr is explained by the seasonality of the auto industry, its in line with the sane quarter last year. I expect the next few quarters will be big for auto and Fleet.
I like the new design win, Fovio and European suggests Stellantis to me and $15m (A$23m) is a nice extension. The words from Paul tell us where this heading
"Paul McGlone, CEO of Seeing Machines, said: "We welcome our 16th Automotive program award with our existing Tier 1 and OEM customers. This expanded business opportunity extends our incumbency with this particular OEM, giving us increased confidence for extensions across more vehicle lines within their portfolio. As a leading supplier of mission critical transport safety systems, being trusted is of paramount importance and while this individual award is reasonably modest in size, it further validates our proven technology and I am confident we will see more business from this OEM customer"
I have done a very simple spreadsheet to show auto numbers to June 26.
Note:
- no optimism in this
- I just used the 23% qtr on qtr growth rate Martin Ive mentioned in recent press.
I have posted a summary on Telegram
some headlines:
1) 2m cars on the road, will be hit during Q3 FY24 so Jan-March 2024, a few months time.
2) 5m cars on road, will be hit during Q3 FY25 so Jan-March 2025.
3) First quarter with 1m cars will be in FY25, most likely Q4.
4) 10m cars on the road will be achieved in H2 FY26.
If I rolled the model forward one more year we get to 30m cars on the road in FY27.
No wonder the chap with the abacus is loading up
I predict BMW will win back the company car market from Tesla.
Tax rules have made EV a popular company car choice, my employer has just changed from a scheme which had Tesla as the only EV option to a fully EV scheme which excludes Tesla, why? They found the Tesla after sales service So poor if anything went wrong with the vehicles.
I expect I4 and the electric 5 series will be big sellers for company cars
Oldfool, did you get out the wrong side of the bed and bang your head?
Hilarious you are calling people put for not being positive
Next we will have Glandore remembering Magna invested £10m at 11p pre the mirror deal and shortwick celebrating the end of the car workers strike.
Https://primemovermag.com.au/weapons-of-mass-distraction/
Paul McGlone, Seeing Machines CEO, says being able to take a deep dive into driver behaviour and what influences it offers priceless data.
“This report demonstrates how, with our proven Guardian technology, we continue to work towards our vision of zero road fatalities, by shedding light on the insights and performance data that influence driver and fleet behaviour,” he says.
Or they could say "we didn't trust the previous version so we moved to Seeing Machines"
Terry, this is why getting to SoP is so important, this is why Martin K still talks about BMW (when talking about the 1m cars SEYE have on the road).
"Growth is expected to get a further boost in the fourth quarter from the BMW Group’s diverse and attractive product line-up, including the all-new 7 Series models, the BMW 5 Series and the BMW X1, which is particularly popular in Europe."
Its very material volume for us, I expect the KPI's in calendar year 24 will be very interesting.
Great Post by SeeingTom.
Good to see him put his hand in his pocket again. 7m shares in less than 12 months as CFO, very significant
I listened to the pres again this morning, I really like the cut of Martins jib, no bs no AIM dreaming, a no nonsense CFO who has brought a focus on cash, exactly what we as shareholders should want
Cash Profit:.
- It's the right measure, many AIM companies focus on profit or even worse adjusted EBITDA, which contains 'accounting judgement'. Cashflow positive is the right measure, Cash is cash, cash is Reality.
- he explains the cash position very well. $31m at end Sept, we have a further unwind of the working capital and reduced cash burn into the end of FY24. Martin predicts $15-20m cash at June 24.
- then cash flow positive runrate in H1 of FY25, so 12 months from now.
- answers the cash question very well, no fundraise, no structured debt, if we do need any cash it will be via a "receivables" upfront payment from a blue chip client. So no worries on cash.
Imo a very solid CFO who plays a straight bat, exactly what we need.
Well, you do like to drone on, so are well placed to "help the drone"
I doubt they do double maths
So eye tracking to help with cyber security?
How would that work
What about Troll monitoring?
Good news you want to be appropriate
Short, we do know which manufacturers are using the tech, have you not read the RNS's and done some basic research.
GM
Mercedes
Ford
BMW
Fisker
Stellantis
VAG
Honda
Aaroon, I agree those numbers are impressive, however
-they are based on minimum contract values
- they exclude any new design wins
- they exclude expansions from existing OEM
- 2024 is a few months away
I expect we do more like $1bn in auto royalty revenue over the next 5 years an average of $200m per annum
Paul has achieved a lot in his time as CEO.
Greatest achievement so far is the Magna deal, which is 12 months old tomorrow
What's he got lined up pre the 16th Oct?
Today, Fisker announced a momentous event for customers in the United Kingdom. The company marked a significant milestone by delivering the first right-hand drive electric SUV to a customer in the United Kingdom