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With four days to go i know the feeling on this board is one of quiet ( and not so quiet in some cases) optimism with so much data coming through now on volumes. Even relative to 30th June when these metrics will be measured, we should see huge progress. Whether the numbers are sufficient yet to move the price up significantly we will find out. As predictable we had hoped for a nice pre KPI RNS about contract news but given the rules that would have to of been announced as soon as known so my cynical guess is no RNS. Hoping i’m proved wrong - but happy with the news next week.
Great article - i particularly like the following bit :
‘Already working with leading car manufacturers the UK investment bank believes a new swarm of regulation could drive the stock.
“We are entering the regulation-driven second wave of DMS adoption, and we expect a rush to meet design deadlines in mid-2024 and production deadlines in mid-2026,” Peel Hunt said.
“For a business model primarily based on per-unit software royalties, this market inflexion should finally drive free cash flow.” PMGs hand no doubt in writing that last bit !! come on market makers then - get your finger out. You had no problem in driving up the price from 5-6p last week - ow you’re hedging your bets before the update - this should be at least 10p and beyond with everything we are reading!!
Lewbo -i agree that 10m is not an insignificant number and am guessing that between now and 2026 the market will shake out in terms of a. legislation driving DMS/ OMS adoption globally and b. the key players on the market c. the resultant market share which will fall our way. If we can get excited about 10m which we should given the promise of an annual doubling until then then we should get even more excited about post 2026 because based on global auto sales of 80-85m per annum …..well we can all do the maths with our own assumptions !!!
Terry - what i meant to add though before I pressed send was that as we all know Safestocks posted a great estimate of full year 23 numbers last week which was a more optimistic forecast compared to all our other analysts. On that basis and on the assumption that 23 and indeed soon to be released 24 forecasts could be more positive, then barring any surprises profitability might be sooner than previously expected.
Personally Terry, I would take what is simply Wall Street print with a large pinch of salt. As in my opinion, it is pretty much all AI generated. It was only last week that they reported that are consensus estimates had been reduced by three analysts.
https://simplywall.st/stocks/gb/tech/aim-see/seeing-machines-shares/future
Furthermore, as to the comments on having a concern over the level of our borrowings – we don’t actually have any borrowings. What their AI has failed to pick up is that the Magna convertible notes are classified as liabilities as they are convertible at some point into equity ( see note 12 HY Accounts ) - once again, demonstrating poor and sloppy reporting and understanding on their part.
It’s anyone’s guess - the KPIs to be released are the ones at 30th June. SEE have already been quoting Fleet in excess of 50k for some time so I suspect that one will be higher but why post a number today of Auto in excess of 876k especially as we were hoping for over 1m - i have to scratch my head sometimes at our
PR !
Https://twitter.com/seeingmachines/status/1685877952876027905?s=46&t=4iTTGsTkdFoiL-buaEhdWQ
Fully agree that a share consolidation might help although share buy back not possible as we don’t have excess cash laying around. I suspect in reality this won’t happen at all until we are ready to float on Nasdaq - can’t come soon enough !!
Mobileye results - no mention of SEE presumably as nowhere near material - let’s see if they get a mention in ours!
https://ir.mobileye.com/node/7596/pdf
Much like everyone else I’m frustrated, I honestly don’t think we can blame ‘the market’ or indeed accuse it of panic selling. So far today less than half a % of the issues share cap ( 2m shares) has been traded so i’m afraid this is purely the MMs marching down the price on lack of any news but frankly nothing that will move PMG to make a statement to calm people’s fears.
And whilst the masses are not selling the SP isn’t particularly enticing people to buy either so a rather sad stalemate. KPIs may shift it although will they be decent enough of a low vase to move the price. ONLY contract news and a major one perhaps coupled with a proper forecast is going to shift this!!
Really haven’t a clue as to who what or where this BS comes from - all AI generated of course so i guess there’s the answer but the sooner our paid analysts get their finger out and start doing their job, supported by our BOD who have the courage of their convictions to start sharing some forecasts, our SP might start to reflect some accurate numbers!!!
https://simplywall.st/stocks/gb/tech/aim-see/seeing-machines-shares/future
Very exciting TLS!
From Collins RNS - ‘In return for Seeing Machines granting perpetual exclusivity to Collins for Aviation and Space fields of use, Collins will make an upfront payment to the Company of US$3 million, with the additional US$7 million payable over the following two years. Further, Collins will pay Seeing Machines non-recurring engineering (NRE) payments to develop the solutions, evolving into potential future royalty payments as shipsets are released to customers.’
So can anyone explain how this new European requirement ( GSR) fits in with NCAP?
“Starting July 2024, only new vehicles* complying with the Regulation will be allowed on the road.
The EU’s new General Safety Regulation (GSR) aims to make the road safer for vulnerable users.”
The Regulation requires every new large vehicle to feature a collision-avoidance system, to detect pedestrians and cyclists in the vehicle’s front and side blind spots, and to alert the driver to potential collisions.
Is a DMS mandatory or not or can OEMs implement from a shopping list like this collision avoidance system. I though DMS was a must for ALL vehicles.
Just read Mobileye will release their Q2 results ending June on 27th July. Quarterly sales are around $500m / $2.2bn expected for full year. Latest date for us I hear for trading update is end of August - 2 months after the year end. Still seems odd to me that as a world leader in AI after tracking 13bn kilometres of data, it takes us that long to capture a sale as it comes off the production line - go figure !!