Member Info for Seeing-2020

Chutz, the important bit for amortisation is the auditors need to agree.

Yes, you need the R&D to result in an asset that the auditors agree will provide income in future years, not easy to get over the line.

Great work by Naomi, we had very little before she joined

Mr BB, thats the point Paul made at townhall. The mirror is an easy option for mass market OEMs to comply, much easier to change the mirror in a production process rather than a dashboard or steering wheel.

Personally I am more interested in Toyota than Tesla

Seize, Terry is Bus Dev, he doesn't get to write the RNS

Terry, why do they need a Business Development person? are you leaving

$4.4m over 6 years. I am still writing them off for anything we are bidding for.

Redeye have this one as Opel.

Seize, imo yes we are working with Total. we would also be working with anyone on the Shell contractors list, they are very big on safety so Guardian would be like a hard hat.

Just for balance, the bad news is for these high volume 'enterprise' customers we cut out the distributor margin so we have more of that darned cash to count.

Nath, I would agree with your closing sentence

Gentex didn't acquire Guardian Optical Technologies, they let them go bust and bought their IP.

Doesn't look good for SEYE imo, all those on here over the years looking for "Smarteye level of PR" should talk to the SEYE investors who were fooled by the BS and have lost a fortune.

Cash is King

No sympathy from me, for years they have bs the market about design wins that never get to SOP. Give me the Paul mc straight talking any day of the week.

You can't bs your cash balance. They aren't a going concern imo as don't have 12 months cash. They might stand for "today and tomorrow" much longer I am not convinced.

Extract from SEYE results

Final Words
We are growing at a steady pace that will increase as more and more car models go into production. At the same time, we see risks of delay in production programs and supply chains. We therefore constantly adapt our cost structure to the volatile market realities. We have also started a process to investigate financing alternatives that will shore up the company in the interim between now and when the volumes are ramped up. This will enable us to continue investments for the longer term in the future generation of DMS and Interior sensing. With cost adaptions and long-term investments, we stand even stronger than before, both today and tomorrow."

https://www.whichcar.com.au/car-advice/car-manufacturer-brands-family-tree

Just watching his auto section again, he mentions time running out for differentiation and they "either have DMS on the NCAP date or will not and will not is not an option"

A few times he then mentions "deliver more volume to incumbents"

- VW
- Ford
- Stellantis

Just a few with huge scope for volume increases. Is someone going to buy a Fiesta or Polo for their 18 year old that isn't 5 star safety rated?

As CES is just after 31st Dec 2022, I suspect we will still be around 100p

Never seen a mention of 10-15 year contracts before, auto normally 6 years and Fleet 3-5.

From the Yunko article

Seeing Machines said that while it wasn’t looking for funding before the Magna deal. But it was fortunate to raise money in a tough economic environment. Seeing Machines is “now fully funded for every eventuality,” McGlone noted. “This allows us to commit 10- to 15-year contracts to our customers.”

With nearly every vendor seeking to secure their supply chain, McGlone added, “I’ve been really surprised up until now that a lot of our customers haven’t worried more about the financial security of the supplier. In this environment, I think it’s an even bigger issue.”

Bottom line:
DMS has proven to be much harder than carmakers thought. Many companies have tried and failed. The time and effort required of carmakers is significant. Magna and Seeing Machines are positioning themselves to offer their one-box DMS to frazzled carmakers looking to install monitoring systems to meet regulatory deadlines.

Colin called it as Subaru at the time.

Take a bow Mr Menon

https://www.safestocks.co.uk/2022/05/10/seeing-machines-wins-a21m-japanese-auto-contract/

Seeing Machines has won its first Japanese car manufacturer, rumoured to be Honda, in a deal initially worth A$21m (US$14.6m). The cars will go into production in 2025.

Automakers and #technology companies need to read this article by Junko Yoshida and act. Fast. Quoted in the article "Magna International's spokesperson said Honda Motor Co., Ltd. and Volkswagen AG are 'global platforms which use the rear-view mirror integrated DMS.' She also cited Fisker Inc #Ocean, which later this year will integrate a DMS module into the A-pillars straddling the windshield." On October 7 Seeing Machines held an investor day in London which included the debut of its driver and occupant monitoring #DMS #OMS software running from the mirror location. The event can be viewed at https://lnkd.in/e6BKFJ-K. The demonstration of the DMS/OMS software begins at 35:50. The pieces of the technology puzzle are falling into place.

The mirror becomes a #zonal #controller feeding DMS/OMS signals and #metadata to central compute #processors from Qualcomm and NVIDIA over CAN-FD and in future, automotive ethernet. Ultimately I see this becoming a four-way race between Apple, Amazon, Google and Cerence Inc. to revolutionize the "immersive user experience" in the #digital #****pit. Great work by Swamy Kotagiri, Paul McGlone and Timothy Edwards to bring this technology and this partnership to fruition.

https://www.linkedin.com/posts/colin-barnden-1081376_can-seeing-machines-become-the-mobileye-activity-6986738326561005568-Zpeu?utm_source=share&utm_medium=member_android

Boon, the margin on hardware for 'after manufacture' will be a lot higher.

Safestocks has been more accurate than most re predictions on wins

- VW
- Ford
- FCA
- Honda

Still to happen
- Toyota

Market shares
- consistently ahead of the company and Colin B on market share, safestocks will be proven right on this one.

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

As readers know, I’ve long believed that SEE will face a near-term bid. To that view some have argued that such is its success that it really doesn’t need a takeover to prosper, unlike some of its rivals who hope to be saved by one. I’d certainly agree with the assessment that Seeing Machines could perfectly well prosper as an independent.

However, even if Seeing Machines isn’t ‘up for sale’, it doesn’t mean that it cannot be bought. A wise man recently told me: ‘Great companies get bought NOT sold’. Well, I believe Seeing Machines is a great company.

Ask yourself, how badly must some company want what Seeing Machines has? Its technological lead, data, and market leadership would take years and many billions to replicate for even a company of the stature of Google, Apple, or Amazon. If you had the money (and they do) why wouldn’t you just buy it?

If Magna is prepared to pay millions for the exclusive use of SEE technology for a couple of years, why wouldn’t they want it permanently? Qualcomm, AMD, Intel, and Nvidia also have reasons to enter a bidding war when the starting gun is fired. Indeed, even Gentex does if it wants to win future DOMS rear-view mirror contracts and protect its market share from rivals such as Magna.

There’s even the argument that a consolidator might want Cerence and Seeing Machines to create something very special.