Seeing Machines Ltd
LSE:SEE

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Seeing Machines Ltd
LSE:SEE
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Price: 4.7 GBX 1.08% Market Closed
Market Cap: 230.9m GBX

Seeing Machines Ltd
Investor Relations

Seeing Machines Ltd engages in the provision of computer vision technologies. The company is headquartered in Canberra, Australian Capital Territory and currently employs 213 full-time employees. The company went IPO on 2005-12-01. The firm operates through two segments: OEM and Aftermarket. Its OEM segment includes the Automotive and Aviation businesses. Its Aftermarket segment includes Fleet and Off-Road services. Automotive business offers Guardian backup-driver monitoring system (BdMS), which uses seeing machines FOVIO driver monitoring technology to track driver alertness and identify distraction events. Aviation business provides Crew Training System in traditional flight simulator training by enabling instructors to understand the pilot behavior, decision-making patterns, scanning, and attention levels in real time. The company uses artificial intelligence (AI) technologies which enable machines to see, understand and assist the people who are using them.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Mar 7, 2023
AI Summary
Q2 2023

Strong Revenue Growth: Revenue for H1 FY23 was $24.4 million, up 54% from the prior period, reflecting robust demand and regulatory tailwinds.

Margin Expansion: Gross profit more than doubled to $15.5 million, with improved margins due to a shift in revenue mix to higher-margin royalties and services.

Supply Chain Recovery: Supply constraints on Guardian hardware are easing, with H2 sales already surpassing H1, and pent-up demand now being fulfilled.

Path to Profitability: Management expresses confidence in achieving profitability as high-margin revenues ramp and new automotive programs launch.

Solid Balance Sheet: Cash increased to $52.2 million after securing additional funding, and management feels well-funded for future plans.

Guidance Affirmed: Management expects financial performance to be in line with consensus for FY23.

Expanding Market Opportunity: The company highlights growing addressable markets in automotive, fleet, and aviation, fueled by regulatory changes.

Key Financials
Revenue
$24.4 million
Gross Profit
$15.5 million
Net Loss
$5.4 million
Free Cash Flow
-$18.5 million
Cash Balance
$52.2 million
Guardian Hardware Units Sold
1,536 units
Guardian Connections
46,018
Automotive Production Volumes
253,824 units
Automotive Revenue
Not specified
Recurring Monitoring Revenue
$5.9 million (half year)
Annual Recurring Revenue (ARR)
$11.9 million
Aviation Revenue
$300,000
Operating Expenses
Not specified
Earnings Call Recording
Other Earnings Calls
2023

Management

Mr. Paul Andrew McGlone
CEO & Executive Director
No Bio Available
Mr. Timothy Edwards
Co-Founder & VP of Strategy
No Bio Available
Mr. Sebastian Rougeaux
Co-Founder & Chief Scientific Officer
No Bio Available
Mr. Martin Ive
Chief Financial Officer
No Bio Available
Mr. Anthony Borgo
Senior Vice President of Operations
No Bio Available
Ms. Susan Dalliston
General Counsel & Company Secretary
No Bio Available
Dr. Mike Lenne Ph.D.
Chief Science & Innovation Officer
No Bio Available
Mr. Daniel Edmunds
Senior Vice President of Engineering
No Bio Available
Mr. Gary Collins
Senior VP & GM of Automotive OEM Solutions
No Bio Available

Contacts

Address
AUSTRALIAN CAPITAL TERRITORY
Canberra
80 Mildura Street, Fyshwick
Contacts