Seeing Machines Ltd
XBER:M2Z
Seeing Machines Ltd
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.
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.
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.
