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This is the clear direction of travel it would be good to get an understanding of whether this starts increasing the previously released life time value of contracts, it would be great to get an update confirming how conservative the lifetime values were
Apart from better management of expectations on timelines I am not sure what more PM could have done:
- SEE is in a number of the leading auto brands and is going into a significant ramp up in 2024 as cars start hitting the roads in ever increasing numbers;
- the tech has been validated by a number of third parties as the leading Tech in the field, Qualcomm, Collins, Magna all multi billion dollar companies
- by being at the forefront of the regulators, SEE has had insight into the direction of travel and has clearly leveraged that with the aftermarket product for Trucks and Vans which currently has no market value attributed to it by analysts, it may be again delivered late but, if it takes an extra 6 months to get right I am not sure I would be bothered, the numbers when they hit will be game -changing
- I don't think SEE and PM can be blamed for the delay in the procurement process of OEM's in a very fast moving market, staying ahead of the market is key .
Investors will come when they are ready and that will be a different trigger for different investors, it could be the cumulative increase in volume in cars over a two year period, it could be profitability, it could be the launch of Gen 3, it could be more auto news or an aircraft deal, who knows but given all of the above are perfectly possible in the next two years I have some confidence they will come.... at the moment SEE is a fairly small Australian tech company with potentially exciting tech, what we know they do have is a very significant amount of data that others don't have and in a World increasingly focused on AI, it has an AI business with purpose, i.e. it demonstrably save lives
As an aside good to see Qualcomm on the move, presumably to an extent on the back of Nvidia, obviously the larger their market cap the more firepower to come in with an offer.
Best to ignore the share price, it is highly likely that this is now funded through and if it was private with the news coming out you would be pretty excited. Key tie ups with Magna (deal at 11p), Qualcomm and Collins, in Mercedes, GM, Ford, VW and others, main current competitor struggling and Gen 3 to come. The only relevance of the share price is it appears to provide a compelling opportunity....it was a bit boring though to hear my broker saying I was overweight after similar comments from my family (albeit slightly different reason...)
No I just personally think you are wrong when it comes to the Board excessively stripping cash out for the business and being over remunerated, there are many far worse examples. My point is that they are delivering on a plan and it is quite clear that even the more recent delays are completely outside of their control. Where they have had issues within their control they have dealt with them such as re-engineering Guardian and raising cash in a particularly challenging environment. I just don’t see this as a Board that it has sat back feathering their own nest so find the repeated references to that from you as being odd and factually incorrect.
I disagree the reality is that the market has taken longer to develop and Covid didn’t help. The board have actually done a great job of positioning the Company with what appear to be the market leaders such as Qualcomm and Magna and separately have been working behind the scenes to be in a position to deliver Gen3 Guardian at the perfect time from a regulatory perspective. In the meantime collecting 10bn Kms of data which is impossible for our competitors to replicate and provides the unique market proposition. What I didn’t mention in my earlier post is the competitive landscape, it is going to be increasingly difficult for SEYE to compete without raising significant funds and I just don’t see how they achieve that in the current market.
There will always be execution risk but that has been mitigated by the partners we are working with.
One question I have is whether there is an opportunity for double revenue where Qualcomm may have SEE tech built into their screens for eye tracking ads, HUDs etc and also have it in the Mirror with Magna.
That’s me done for the next 12 months GLA
I understand why Mobileye might be used as a comparison but you can’t compare a company that has revenues of $1.4bn but loss making with one that in 3 to 5 years time is likely to have less revenue but be significantly more profitable just because it is in the same industry.
As always patience is required with this stock but the next 12 months is going to clearly determine whether the 10 years accumulation was worth the wait.
If this was a private company and you didn’t get to watch the share price every day I think you would be feeling a bit more excited about the future.
The star are aligning.
The Magna deal was phenomenal business in the current market.
Shutting down Argo is a clear signal that the truth about fully autonomous vehicles being the future at the expense of semi- autonomous is finally being realized.
Qualcomm is clearly betting big on its diversification into the auto market and SEE is along for the ride.
Regulations are imminent.
There is finally meaningful take up in Fleet with Gen3 being a game changer.
Then we have aviation and the “how do you know about that” reaction from a pilot mate of mine was all I needed to know about where that is heading.
There have been a number of times over the last five years where I have thought the next 12 months will be determinative but I think that time has finally come
Quote from October announcement below, so presumably this placing is supporting an enhancement to their business plan as it was in October. Great news in my view less than six months ago $20m resulted in issue of 372m shares.
" We are delighted that this placement, together with our other initiatives and business opportunities is expected to fully fund our current business plan"
To have an institution underpin a $500m valuation is very progress and I can live with 2% dilution. Particularly positive that it is signalling further US interest.
"The Wagoneer and Grand Wagoneer are packed with more than 120 standard and available advanced safety and security features. Available driver-assist technologies include head-up display, adaptive cruise control, Active Driving Assist, Hands-free Active Driving Assist, night vision, drowsy driver detection and Traffic Sign Recognition. "
Well if Microsoft, Alphabet or Apple were minded to bid they have $130bn, $120bn and $100bn cash. I am sure they could spare a bit and throw in a few shares too.....if two out of the three decided to bid that would be more interesting....
Having been here since 2011 with some truly horrific moments, disastrous fleet update, dilutive placings, share price below 2p, I remain convinced it is all about the data. The 5 million km of real data cannot be replicated. It is unique. The auto industry has to have the best that is available. There is only one company that can leverage real life data.
Finally I think we have hit a true inflection point. What that means though from a market capitalization perspective I just don’t know without understanding the licensing fees etc but this could be quite a ride.
The fundamental difference is that we have never seen trading into a rise in anything like these volumes. There has clearly been a significant uptick in interest in this share, finally it might be getting the recognition it deserves. The game changer will be when further deals start being announced which must start happening this year.
Agreed can we stop referring to Telegram this has been for the large part a v sensible board. The likelihood of the recent fundraise being followed by an announcement that See has lost GM is about zero. Someone is playing games. Very dull.
I am not sure I follow that, there are endless examples of shares rising once a fundraising is completed. SEE's shares have suffered for the last 6 months on the concern that there may be a further fundraise. In this case whilst there is 10 per cent dilution, the Company receives $20m of cash and therefore there is a commensurate increase in NAV. If the market thinks that the $20m can be spent in a way that will increase the value of SEE then the shares will rise. If there had been a discount in the market due to concerns on cash this discount should also narrow/be erased. In addition if the market considers that the Investor has strategic value, the price will go up, or merely the fact that you have a prominent US investor on board may be enough to result in additional price pressure as the relevant fund manager may be followed by PI's/put SEE on the map with other institutions.
The Company did also try to get news out, announcing MOU's which may not usually get announced at that stage so the market had the relevant information.
We already know what the results are going to say as they look back at the last period.
If any new vehicles are announced such as the F-150 again that is not news to anyone who is monitoring the market closely.