Member Info for Seeing-2020

Time for some calm heads, of course the derampers are out in force, looks like the big investors don't take any notice as the volume is low.

The facts are:

- we are at cashflow breakeven

- auto volumes will increase materially up to and after July 2026

- $14m extra cash and profit received in Jan 2026

Its just a matter of time, the leadership need to keep doing what they are doing and running the business, not reacting to some nervous small investors

No OEM doing proper DD could award a contract to Tobii.

They didn't win BMW btw, they acquired Autosense from Xperi and inherited the contract

Industry observers such as CB have made it clear that the first thing a DMS supplier needs to do is survive

Interesting day

- Smarteye - spending up to $11m acquiring a company, to "develop our target product faster" for alcohol detection and to help with "false positives". There was me thinking they said they have a product and it was the "world first"

- Tobii - latest financial results out today and they look in real trouble, sp down 30%+ at time of writing

What's that property board game?

I have this post as ramp of the year

"This is absolutely bonkers - how is it not at least 10p by now!!

What's it going to take for it to rise as nothing seems to be having an impact

It's got to get to at least 15p, ideally 20p before anyone starts putting in offers to buy the company which is surely going to happen later this year once they have confirmed 6 months of profitability and forecasts for 2027"

posted on 7th Jan by isb1974, whoever that is?

It was valued at $11bn at one stage.

A few of us including CB called that out as a crazy valuation

why?

- Competitors, 60+ in Lidar, DMS has 2 main player perhaps 4-5 in total

- Hype, it was overhyped by a "rockstar" founder, the real genius is Tim Edwards

First time "robotics" mentioned in an RNS

"The platform is designed to extend beyond automotive applications, with potential use cases across robotics and other human-machine interaction environments, including human-robot interaction (HRI) environments, where accurate and scalable perception of people and space is critical"

Let me take these in order.

Last week / CES

- Kudos to them for hitting breakeven that was a key target for a while.

- $14m cash and profit was a surprise upside

- CB comments regarding the Valeo/SM product and the SM demo are positive

- Robots is a huge surprise for me, never saw this coming

Auto

- volumes must be increasing and I agree 1m for the qtr ending 31st March is a good target

- design wins, he can't infuence timing, SEYE arent annoucing either, so clearly not lost just still waiting.

Fleet

- you are mixing a few things

- 18,000 was opportunites in US, not one contract

- they mentioned 2 big ones and announced one, personally my preferenece would be multiple Amazon contracts for x 000's

- Q3 they said "in excess" of 6k, thats all they should say for now.

From Seeing Machines website

Tim Edwards

Vice President, Strategy

In 2000, Tim co-founded Seeing Machines with three colleagues, to deliver on the fundamental insight that cars would be the world’s first true autonomous robots.

Chris Menon called this a while back

https://www.safestocks.co.uk/2025/12/02/will-seeing-machines-licence-its-software-stack-for-humanoid-development/

"I seem to have a world exclusive on the next iteration of hashtag#automotive driver and occupant monitoring hashtag#dms hashtag#oms. Shown today in the Seeing Machines hashtag#CES demo suite is the next iteration of the tech: interior perception mapping. Think of the Tesla Visualization engine but instead for interior mapping. It combines 2D images with the 3D depth maps to generate the virtualization. This isn’t a POC or fancy video, I saw it visualize me in the demo vehicle on a ride round the LVCC. The really exciting part is this gives a glimpse into the possibilities of the new Future Mobility Group (think robotaxis) and also how machines can become situationally aware (think robots understanding people). This isn’t just machine vision, but providing contextual awareness to a vision stack. Really great stuff."

Https://www.linkedin.com/posts/colin-barnden_automotive-dms-oms-activity-7415178012079550464-yO8-?utm_source=share&utm_medium=member_android&rcm=ACoAAAhWlqEBEaKZMGs9u04O9Y3CNkklo_3oS_4

Text of CB post

From my view this interior experience demo is the absolute star of the show here at hashtag#CES. Valeo showing cabin monitoring from the rear view mirror working with augmented reality hashtag#HUD and pillar-to-pillar display. Response to an external hazard (in the demo it is a deer running into the road) varies according to driver attention state and where they are looking. I wrote about this setup as a concept back in 2022. Here is the real thing. Understanding human behavior is the next evolution of making human drivers safer. Great work from Valeo hashtag#Brain division under Marc Vrecko and Seeing Machines

Nice that Valeo don't pretend its all them, SM logo on display

Https://www.linkedin.com/posts/colin-barnden_ces-hud-brain-activity-7415097854253293568-U1l7?utm_source=share&utm_medium=member_android&rcm=ACoAAAhWlqEBEaKZMGs9u04O9Y3CNkklo_3oS_4

I have been banging on about the mbly 2014 IPO for years, it was at $5bn and then Intel paid 3x within a few years.

$5bn is about 70p, assuming Magna convert the loan to shares

The key metrics are starting to look very similar...

The company estimates that its products were installed in about 3.3 million vehicles worldwide as of March 31. By the end of 2014, it expects its technology to be available in 160 car models from 18 original equipment manufacturers worldwide.

Mobileye's revenue doubled to $81.2 million for the year ended Dec. 31. The company swung to a profit of about $20 million in the year from a loss of $53 million a year earlier.

Stifel names SM as top pick for 2026

https://www.safestocks.co.uk/

Of the many posts on here yesterday it was www.safestocks.co.uk that was the most accurate and their key points confirmed by the CEO today.

"Stifel’s analyst Peter McNally explained : “This benefits revenue, profitability and cash in the current year by pulling forward payments that would ordinarily have been received in future years. As this is a payment for royalties, the benefit to revenue falls through directly to cash as it is 100% gross margin."

"“We still expect the company to have reached cash flow run-rate break even by the end of 2025 (December) and look forward to the release of the fiscal Q226 KPIs, which are likely to be released in early-to-mid February."

Brock, they said it in the RNS and the extract I posted.

"From existing Seeing Machines resources" , ie NO NEW PEOPLE

You are welcome to your negative opinions, however I will point out factual errors

So, do you beleive the derampers or the house broker. I know who I believe

Extract from Stifel note:

"We still expect the company to have reached cash flow run-rate break even by the end of 2025 (December) and look forward to the release of the fiscal Q226 KPIs, which are likely to be released in early-to-mid February"

With the derampers walking around in the dark nor even reading the RNS, we are lucky Chris Menon is not.

https://www.safestocks.co.uk/