Seeing Machines Limited ("Seeing
Machines" or the "Company")
8 August 2024
Q4 FY2024 Quarterly
KPIs
Over 2.2 million cars on
the road with Seeing Machines' technology with quarterly production
of 381,215 units, representing quarter on quarter growth
of 22% across 7 Automotive production
programs
Seeing Machines Limited (AIM: SEE,
"Seeing Machines" or the
"Company"), the advanced
computer vision technology company that designs AI-powered operator
monitoring systems to improve transport safety, publishes its
quarterly Key Performance Indicators ("KPIs") for the quarter ended
30 June 2024.
Q4
FY2024 KPI highlights:
- Cars on the road
with Seeing Machines' technology increased to 2,211,422 units,
representing an increase of 104% from 12 months ago (Q4 FY2023:
1,086,176)
-
Quarterly production of 381,215 units, up 22% from
the previous quarter
- Monitored Guardian
connections increased by 19% during the last 12 months to
62,010 units (Q4
FY2023: 51,975)
Automotive Production Volumes (production of new vehicles
using Seeing Machines' DMS technology):
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|
Q4 FY2023
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Q1 FY2024
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Q2 FY2024
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Q3 FY2024
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Q4 FY2024
|
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Production FY2023 - 24
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211,325
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222,138
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208,231
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313,662
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381,215
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%
Growth Qtr on Qtr
|
22%
|
5%
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-6%
|
51%
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22%
|
|
|
Q4 FY2022
|
Q1 FY2023
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Q2 FY2023
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Q3 FY2023
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Q4 FY2023
|
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Production FY2022-23
|
105,390
|
112,077
|
141,747
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173,802
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211,325
|
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%
Growth Comparative
|
101%
|
98%
|
47%
|
80%
|
80%
|
Aftermarket (Guardian) (installed technology for commercial
transport fleets and logistics organisations):
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Q4 FY2023
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Q1 FY2024
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Q2 FY2024
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Q3 FY2024
|
Q4 FY2024
|
|
Monitored connections
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51,975
|
54,140
|
56,896
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59,706
|
62,010
|
|
%
Growth Qtr on Qtr
|
6%
|
4%
|
5%
|
5%
|
4%
|
|
Units sold, yet to be connected
|
7,630
|
7,189
|
7,470
|
6,320
|
16,127
|
Seeing Machines Automotive production volumes in FY2024
were 1,125,246, a strong year-on-year increase of
76%. The Group's
technology is now installed in over 2.2 million vehicles.
In Aftermarket, monitored Guardian
connections have increased by 19% over the last 12 months.
Monitored connections at the end of June 2024 of
62,010 exclude Guardian units sold to customers for upgrades.
Upgrade sales represented 991
units during Q4 FY2024. Units sold, yet to be connected, reflects the higher
proportion of sales in May and June, consistent with previous
years.
Following the new Agreement with
Caterpillar, announced on 26 June 2024, and the up-front license
payment of US$16.5 million relating to Guardian technology,
monitored Guardian connections presented from Q1 FY2025 will
exclude Guardian units monitored by Caterpillar. Seeing Machines
will define a revised metric at the next update, taking this change
into account.
Paul McGlone, CEO of Seeing Machines,
said: "We have maintained growth of over 100% in
the number of cars on road featuring our technology from 12 months
ago, despite the quarter-on-quarter volatility experienced during
the year. Regulations are now in place so we are confident that
these figures will continue to grow for existing Automotive
programs and as new programs start production.
"Similarly in Aftermarket, the new regulation in Europe will
require more commercial vehicle OEMs to seek After Manufacture
fitment for our Guardian technology, underpinned by successful
homologation (regulatory approval) with our Northern Ireland
customer, Wrightbus, as announced on 30 July 2024. With Guardian
Generation 2 stock sold we are now focused on Guardian Generation
3, initially with European commercial vehicle OEMs, then all
customers across existing markets in Europe, The Americas and Asia
Pacific."
The Company expects to issue its
FY2024 Trading Update in August.
Enquiries:
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Seeing Machines Limited
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+61 2 6103
4700
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Paul McGlone - CEO
Sophie Nicoll - Corporate
Communications
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Stifel Nicolaus Europe Limited (Nominated Adviser and
Broker)
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+44 20 7710
7600
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Alex Price
Fred Walsh
Ben Good
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Dentons Global Advisors (Media Enquiries)
James Styles
Jonathon Brill
seeingmachines@dentonsglobaladvisors.com
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+44 20 7664
5095
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About Seeing Machines (AIM: SEE), a global company founded in 2000 and headquartered in
Australia, is an industry leader in vision-based monitoring
technology that enable machines to see, understand and assist
people. Seeing Machines is revolutionizing global transport safety.
Its technology portfolio of AI algorithms, embedded processing and
optics, power products that need to deliver reliable real-time
understanding of vehicle operators. The technology spans the
critical measurement of where a driver is looking, through to
classification of their cognitive state as it applies to accident
risk. Reliable "driver state" measurement is the end-goal of Driver
Monitoring Systems (DMS) technology. Seeing Machines develops DMS
technology to drive safety for Automotive, Commercial Fleet,
Off-road and Aviation. The company has offices in Australia, USA,
Europe and Asia, and supplies technology solutions and services to
industry leaders in each market vertical.
www.seeingmachines.com