The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Let's SEE if the CEO or CFO buy more shares if they believe their own hype & give confidence back to us shareholders.
I think Colin should be contacted to help write our RNS’s as he sounds more excited about our future than the company itself.
I wonder what he meant about Magna, having a next generation design ( I’ll comment more after Magna have )
Surely it’s not the breathalyser innovation as we know about this already ?
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF), the artificial intelligence (AI) driver monitoring specialist, said it is on track for cash break-even in 2025 as it provided an update on first-half trading and predicted it will meet full-year expectations.
Underlying revenue for the six months ended 31 December 2023 was US$25.6 million, up 28%, while recurring sales were up 22% year-on-year to US$14.5 million.
Seeing Machines exited the period with US$22.2 million in the bank, while the receivables and inventory balance was US$31.1 million, with an expected working capital unwind of US$5-6 million in the second half.
Driving this growth was a 116% year-over-year increase in the number of cars on the road equipped with Seeing Machines' technology, now surpassing 1.5 million vehicles.
Operational milestones during the period included securing contracts to deliver its FOVIO Driver Monitoring System (DMS) technology to new and existing European OEMs, with initial lifetime values of US$30 million and US$15 million, respectively.
This new business contributed to Seeing Machines' portfolio of 17 automotive programmes with 11 individual OEM customers with a lifetime value of US$366 million.
In the update, Seeing Machines said it and Collins Aerospace have initiated the joint development of the world's first aviation fatigue detection solution - a first in the industry.
The company's aftermarket DMS, Guardian Generation 3, has been independently verified to meet the European Commission's General Safety Regulation requirements for drowsiness detection, set to come into effect in July 2024.
This product was launched at CES 2024, where Seeing Machines showcased its technology to a global audience, facilitating 35 meetings over three days with a diverse group of stakeholders, including technology partners, regulators and investors.
Chief executive Paul McGlone said: "Looking ahead, the growing industry demand for fatigue and distraction solutions to support enhanced transport safety, combined with our market leadership position, production pipeline, proprietary AI technology and balance sheet strength, leave us well positioned to meet FY2024 expectations and cash break even run rate during FY2025."
https://www.proactiveinvestors.co.uk/companies/news/1040495/seeing-machines-on-track-to-hit-cash-break-even-target-after-strong-half-1040495.html
Some positives :
we approach the start of production across a number of additional programs this year, including the largest volume program won to date.
So 1.5m without BMW, that has to be a positive ! Oh if only they mentioned the car manufacturer ;(
You’re not wrong ISB !
Very little volume or price action before tomorrow’s update so not expecting much which is frustrating! This stock has been a dog for over a year & literally dead money !
So if SEE deliver on their promises & turn cash flow positive by reducing their costs as stated we are in pole position to be No.1 !
Redeye ;
We believe the founding family would prefer a major savings program and risk losing its market lead over going through another highly dilutive equity financing.
Rana probably selling her stock, knows what’s coming.
More evidence straight from SEE :
Seeing Machines’ #FOVIO Chip has hit the road as #Ford models with #BlueCruise start production around the world. #Safe assisted driving is the only way to support Vision Zero and we are proud to see our #drivermonitoringsystem technology underpin this #innovation across auto.
https://www.linkedin.com/posts/seeingmachines_fovio-ford-bluecruise-activity-7057216818439983104-z_Na?utm_source=share&utm_medium=member_ios
From safestocks;
Ford is rightly proud of the vehicle and its safety record. Indeed, the company boasts that during the 2 years BlueCruise has been available in the US its 200,000 users have covered 100m miles without incident.
What Ford isn’t shouting about is that it is Seeing Machines DMS that is the reason there haven’t been any incidents, as it ensures the driver’s eyes are on the road before, during and after BlueCruise is engaged.
https://www.safestocks.co.uk/2023/07/09/seeing-machines-dms-ensures-ford-bluecruise-is-super-safe/
Yes Terry, but is this still SEE technology?
SmartEye saying they are also in some Ford/GM models/becoming a tier 1 supplier ?
Just wish SEE would announce all these potential increases in volume if they are installing new models ?
Yes but is this still SEE technology?
SmartEye saying they are also in some Ford/GM models/becoming a tier 1 supplier ?
Just wish SEE would announce all these potential increases in volume if they are installing new models ?
I think Smarteye will be close to 1.3m but a lot of that is from BMW legacy models .
BlueCruise is now available across the entire Lincoln portfolio! For the first time on Lincoln Aviator, clients will be able to experience hands-free highway driving with BlueCruise. #lincoln #lincolnaviator
Will we ever catch a break ?!
Will PMG & team finally deliver the goods for all the world to SEE ?
Big question is are we the only provider for DMS for Ford Bluecruise ?! If we are then this is very positive but again without SEE stating this in an RNS we are none the wiser.
Could you imagine if SEE actually announced who we are partnered with & what car models they are in ?
Thanks Terry maybe you should take over the marketing dept, much better info than we are getting at the moment 👍
Hi Lewbo, Terry & Co,
Can any of you definitively confirm what BMW & VW models will be with SEE tech & possibly evaluate production numbers per model.
I ask as this is seems to me the most significant step change in production volume we can expect in next 12 to 24 months.
Remember Smarteyes 1 million plus cars on the road are heavily weighted to BMW so would like to know what might we expect over next 2 years or so.
Thanks
Hmm..yes polished but totally scripted ! I think Martin & PMG are pretty slick & but can they do better of course !
Interesting how they have Smart Eye as the leader, SEE 2nd & Tobi third but when it comes to OMS only SEE & TOBI have ticks against OMS Wins & only TOBI have a tier1 OMS (occupancy Monitoring systems)
We really need SEE to step on the gas here & win more contracts as competition in this space is hotting up!
Be interesting to see what SEE states as cars on the road & then what SmartEye state if they ever do !
Our technology is proven and since 2019 our automotive solutions have shipped in around 300,000 vehicles on the road. I am excited for us to start the integration process, take advantage of the cost and technology synergies and build on AutoSense's existing success.
Tobii released the financial year-end report for 2023. We are pleased to have achieved our profitability target in Q4 and have disclosed our new financial targets for the upcoming years. Read the details here: https://ow.ly/1fpX50QwCjs
We are just drifting stuck in a range of 5p to 5.50p
Even insider buying has stopped ! Frustrating to watch this bounce around at these low levels but I’m trying to stay positive.
We have some tailwinds coming but lack of new contracts in aviation, truck ( we need more than 3000 units ) & automotive is why we are where we are. We have a couple of weeks before next results so if SEE want to make moves then time is running out for this qtr.