Member Info for Seeing-2020

Chris, the company have told us it went into production in March. There will of course be a leadtime from production to car showroom, I don't know how long that is.

HAGD, you are making the mistake of looking backwards not forwards.

Even if you Had a bad day today, tomorrow you can Have a good day.

Keep spreading the cheer

We are now officially in "spectacular September".

Look forward to great news and a huge rise in the SP.

Https://www.bbc.co.uk/news/videos/cy9e1pjyng8o

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Isb,

Cash Dec 23 = $22.2m

Cash June 24 = $23.5m

So Cash increased $1.3m.

We won't know the net burn until we know the exceptionals for H2.

Inflow

CAT, I would take the $11.5m ($16.5m less the $5m taken to revenue in FY24) off.

So that gets a net cashburn of circa $10m

But I would also add back any cost exceptionals, such as restructuring costs, we will understand better with the finals.

It's not new he has always said "runrate", doesn't matter what people think he said, what's important is what he said.

Extract below is from the 26th June 2024 RNS

"The US$16.5 million payment will bolster our cash reserves and help deliver on our business plan as we move closer to achieving a cash flow break-even run rate in FY2025."

The key metrics for me is cash in the bank, very happy with $23.5m and as others have pointed out the receivables number should also help Cash in H1 FY25.

The game here is to get to cashflow positive without running out of cash, I'm not convinced all the current DMS providers will but I am convinced SM will.

It's not luck, they didn't win the lottery, Paul convinced a multi national customer to sign up for another 5 years, which would be impressive anyway, but the deal he achieved was for them yo pay that cash upfront. Imo it's a great deal for us as shareholders, no dilutive placing.

I remain confident we will achieve our goals, what gives me the most confidence is the ability of our CEO to do a deal

We of course would need a design win RNS, this (imo) was Honda

Seeing Machines Limited

10 May 2022

Seeing Machines appointed for DMS production solution with first Japanese OEM

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has been appointed by an existing customer and global Automotive Tier-1 supplier to deliver its FOVIO Driver Monitoring System (DMS) for a leading Japanese carmaker.

This contract win, with an initial lifetime value of A$21 million, due to start production in 2025, marks Seeing Machines' first production Automotive award in Japan and brings the total number of OEMs, with which Seeing Machines has won business, to nine. Delivery is via the Company's deeply embedded and accelerated Driver Monitoring Engine (FOVIO e-DME software library) configured for driver state sensing and targeted at global NCAP (New Car Assessment Program) and regulatory requirements, over a number of additional vehicle models.

SM have told us their "global German OEM" went into production in March 2024.

That's the Magna mirror

The key point for me was he confirmed the "new Sek700m" win announced last week was actually a net additional Sek200m.

"In 2020 we predicted Sek500m it's now Sek 700m"

Both recent RNS were very positive IMO.

1).License deal with CAT

- CAT will have done extensive DD again before signing up for another 5 years, so they must be happy with the developments that are planned .

- $18.5m cash upfront is almost the equivalent of all the cash received for cars on the road to date.

2) KPIs

- positive progress and outperformed against their long stated 100% growth

- yes Paul delivered what he said he would.

I'm a happy holder as this is panning out as we should expect

I look forward to reading all the posts from the derampers apologising for doubting our CEO.

Facts are facts

1) Cars on the road

- above the 2m milestone

- outperformed against the 100% growth (total cars on the road) target

2) Record Qtr for Guardian HW sales.

Q4 Hardware sales of Gen2

1) increase in installed base = 2,304

+

2) increase in 'sold not installed'= 9,807

+

3) Gen2 upgrades = 991

Total HW sales on Q4 = 13,102.

As ever people are welcome to their own opinions but we need to be accurate with facts.

There is no grey area regarding cars on the road targets, the company has constantly stated "100% growth in cumulative cars on the road, each year"

So .

June 23 = 1,086,176

X2

June 24 = 2,172,352

That's a clear target, no ambiguity

June 24 = 2,172,352

Q3 24 = 1,830,207

Therefore to hit the stated target we need 342,145 in Q4.

This bit from the Stifel analyst was interesting

"So what are the implications for the future? Well, this is McNally’s take. “We note that less than a year ago, Valeo announced its Smart Safety 360 product that was suggested within the industry to use Mobileye (MYLY.O, not covered) advanced driver assistance (ADAS), as well as Seeing Machines DMS in the same product. We also note that Seeing Machines signed a non- exclusive distribution agreement with Mobileye in February 2023. We wonder what the combination of partnerships including these companies could be in the future. It appears that Seeing Machines has made partnerships/agreements with these companies that could be deepening the involvement amongst them.”

I don't know whether the SM leadership see any value in the former Xperi business acquired by Tobii, one thing for sure is today one would pay less than the $45m paid by Tobiii.

https://corporate.tobii.com/newsroom/press-releases/2023/12/tobii-acquires-autosense-from-xperi-accelerating-path-to-leadership-in-automotive-interior-sensing-with-expected-revenues-of-msek-500-in-2028-and-plans-a-msek-300-rights-issue

"If we are still independent at the end of 2024, our 2 year forecast will show that the valuation will probably have a zero at the end"

Sp was 7p at the time so he was suggesting 70p.

I remember a bloke who used to predict 100p by 2020.

I suggest we will both be forgiven for being early when the sp hits our predictions

One can go onto the VW website and see the standard spec for the Golf 8 and Gilf 8.5.

Golf 8 = driver alert system, fatigue detection

Golf 8.5 = advanced driver attention and drowsiness monitor

My view is the Golf 8.5 will have DMS from SM.

I will trust what NCAP says and disregard the view from Laura in Liverpool,

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Https://www.euroncap.com/en/about-euro-ncap/the-car-selection-explained/

It is important to publish results as soon as possible in the life-cycle of a vehicle so that as many consumers as possible are able to make an informed choice. This means that Euro NCAP sometimes will test cars which are not yet available at dealers. In these circumstances, Euro NCAP selects cars from early production. Euro NCAP may visit the manufacturing plant to choose cars at random or VINs may be selected randomly from a list provided by the manufacturer.