Colin Barnden - SEE Update14 Nov 2023 13:08
Seeing Machines has published its latest quarterly #KPIs, for the period July to September. 222,138 vehicles were produced with its driver monitoring system #DMS in the quarter. This is the second consecutive quarter that it has achieved volumes exceeding 200K, which it managed for the first time in the period April to June.
Quarterly growth fell to 5% (222K vs 211K) from 22% the previous quarter, but Seeing Machines is the only company with the transparency to publish raw data, so comparisons to other vendors' performance cannot be made. Production over the last 12 months (LTM) is almost 750K and total vehicles on road has surpassed 1.3 million. This number is significant as that is the largest total released by Smart Eye to date, and even then at a tradeshow and not through a formal investor update.
The assumption remains that Smart Eye would publish its quarterly KPIs were it ahead, suggesting Seeing Machines is the current market leader on a LTM basis. LTM is a more important metric than total vehicles on road, since it links to revenue generation from licensing payments and a clear path to profitability. Seeing Machines declared no new loans or extended credit facilities in the quarter.
The KPIs also included the announcement of Seeing Machines' 16th automotive DMS program award. The assumption is this is for Renault, through Valeo. Valeo is rapidly emerging as a key tier-1 player for DMS, with Bosch and Magna International (including Veoneer) also in the leading pack. References in the announcement to "multiple vehicle platforms" and "expansion to other models" could imply a possible #technology transfer of this design into other brands, the most significant being Nissan Motor Corporation. The emphasis on Europe could imply a transfer to Nissan's European production (mostly in the UK) for compliance with #GSR and Euro #NCAP testing. Renault and Nissan share a number of vehicle platforms, from an alliance lasting over 20 years.
Message me for details of the 2024 edition of Semicast's report "ADAS & Automotive Vision-based Driver Monitoring Systems." My message inbox is open. Availability of the research is limited to 30 purchasing companies.
https://www.linkedin.com/posts/colin-barnden-1081376_kpis-dms-technology-activity-7130166646358351873-bNSy?utm_source=share&utm_medium=member_desktop
Sign In
Follow the stocks
