Actualización comercial del primer semestre del año fiscal 1 y KPI trimestrales
Seeing Machines Limited ("Máquinas de ver" o de "Compañía")
8 de febrero de 2024
H1 FY2024 Trading Update & quarterly KPIs
Underlying revenue growth rate of 28%, with 116% increase YoY in cars on road which now exceeds 1.5 million
No change to FY2024 revenue and cash expectations
Seeing Machines Limited (AIM: VER, "Ver máquinas" o la "Empresa"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, provides a trading update for the six months to 31 December 2023 ("H1 2024") and quarterly Key Performance Indicators ("KPIs") for the quarter ended 31 December 2023.
Principales aspectos financieros destacados:
- Underlying Revenue growth for H1 FY2024 of 28% to US$25.6m excluding one-off Magna exclusivity payments (Reported Revenue growth of 5% including these one-offs)
- Los ingresos recurrentes anualizados aumentaron un 22% interanual hasta 14.5 millones de dólares
- Cash at 31 December 2023 of US$22.2m with cash burn of US$13.9m, receivables and inventory balance of US$31.1m with working capital unwind of $5-6m expected in H2 FY2024
Aspectos operativos clave:
- Seeing Machines appointed by an existing European Tier 1 customer to deliver its FOVIO Driver Monitoring System (DMS) technology for a new European OEM, initially targeting enhanced regulatory focused DMS features, and evolving into a generational opportunity featuring driver and occupant monitoring system functionality, with an initial lifetime value of US$30m
- Appointed by an existing Tier 1 customer to deliver FOVIO DMS technology on an additional program for an existing European OEM, targeting safety regulation expectations, with an initial lifetime value of US$15m
- The Company has now been appointed to deliver 17 Automotive programs with 11 individual OEM customers, building the cumulative initial lifetime value of all OEM programs to US$366m
- Collins Aerospace, exclusively working with Seeing Machines to target the aviation sector, has begun joint development of the world's first aviation fatigue detection solution, the first component of a potential multi-modal Pilot Support System
- Guardian Generation 3, the Company's Aftermarket DMS for the commercial transport and logistics sector, was independently tested at IDIADA's state of the art test and development facilities and assessed to meet requirements for drowsiness detection in the European Commission's General Safety Regulation, coming into effect in July 2024
Aspectos destacados posteriores al período
- Seeing Machines launched Guardian Generation 3 at CES 2024, the world's largest technology conference, held in Las Vegas, and announced the beginning of regulatory driven sales with three European OEMs in anticipation of the General Safety Regulation requirements
- CES 2024 was a success for Seeing Machines with 35 meetings held over 3 days covering demonstrations of the Company's latest FOVIO driver and occupant monitoring suite, delivered from the rear-view mirror location, as well as showcasing more advanced R&D based technology. Meetings spanned technology partners, regulators, Tier 1 and OEM customers, investors and media
- Seeing Machines' Automotive team hosted meetings and technology demonstrations at Automotive World 2024, the largest automotive conference in Japan. Here the Company primarily met with Tier 1 and OEM customers, as well as a range of partners and investors
Aspectos destacados de los KPI del cuarto trimestre del año fiscal 2:
- Cars on road increased by 116% over 12 months to 1,516,545 units (Q2 FY23: 701,049)
- Monitored Guardian connections increased 24% during the last 12 months to 56,896 units (Q2 FY2023: 46,018)
- Unidades Guardian vendidas, aún por conectar de 7,470 unidades
Paul McGlone, CEO de Seeing Machines, dijo: "During the half, we reported underlying revenue growth of 28% across the business and as automotive programs progress to production, we are seeing consistent 100%+ year-on-year growth in the number of vehicles with our technology installed - now at over 1.5 million cars. I am confident that automotive production volumes, and our high margin royalty revenue stream, will continue to grow significantly on an annual basis, as ongoing programs build, and we approach the start of production across a number of additional programs this year, including the largest volume program won to date.
"We are closely supporting our customers to meet fast-approaching regulatory requirements across both Automotive and Aftermarket and are looking forward to our official, customer-facing Guardian Generation 3 launch at Geotab Connect in the USA this month.
Looking ahead, the growing industry demand for fatigue and distraction solutions to support enhanced transport safety, combined with our market leadership position, production pipeline, proprietary AI technology and balance sheet strength, leave us well positioned to meet FY2024 expectations and cash break even run rate during FY2025."
Indicadores clave de rendimiento (KPI) trimestrales para el cuarto trimestre del año fiscal 4
Automotive Production Volumes (production of new vehicles using Seeing Machines' DMS technology):
| Q2 FY2023 | Q3 FY2023 | Q4 FY2023 | Q1 FY2024 | Q2 FY2024 |
Production FY2023 - 24 | 141,747 | 173,802 | 211,325 | 222,138 | 208,231 |
% de crecimiento trimestral sobre trimestre | 26% | 23% | 22% | 5% | - 6% |
| Q2 FY2022 | Q3 FY2022 | Q4 FY2022 | Q1 FY2023 | Q2 FY2023 |
Production FY2022-23 | 60,205 | 98,113 | 105,390 | 112,077 | 141,747 |
% Crecimiento comparativo | 135% | 77% | 101% | 98% | 47% |
Aftermarket (Guardian) (installed technology for commercial transport fleets and logistics organisations):
| Q2 FY2023 | Q3 FY2023 | Q4 FY2023 | Q1 FY2024 | Q2 FY2024 |
Conexiones monitoreadas | 46,018 | 49,046 | 51,975 | 54,140 | 56,896 |
% de crecimiento trimestral sobre trimestre | 11% | 7% | 6% | 4% | 5% |
Unidades vendidas, aún por conectar | 6,085 | 4,913 | 7,630 | 7,189 | 7,470 |
Seeing Machines delivered a strong year on year increase of over 100% in Automotriz production volumes with the Group's technology now installed in over 1.5 million vehicles. While the quarter-on-quarter volume was slightly down, this is expected to increase during Q3 FY2024 as more programs start production and regulatory deadlines approach.
In Aftermarket, monitored Guardian connections have increased by 24% during the last 12 months. Monitored connections at the end of December 2023 of 56,896 exclude Guardian units sold to customers that upgrade from Generation 1 to Generation 2, as Australia continues to phase out its 3G network in favour of 4G. Upgrade sales represented 1,260 units during H1 FY2024.
The Company expects to publish its half year results on 18 March 2024.
Consultas:
Ver máquinas limitadas | +61 2 6103 4700 | |
Paul McGlone - director ejecutivo Sophie Nicoll - Comunicaciones corporativas |
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Stifel Nicolaus Europe Limited (Asesor designado y Broker) | +44 20 7710 7600 | |
Alex Price fred walsh Nick Adams Ben burnett |
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Asesores globales de Dentons (consultas de los medios) James estilos | +44 20 7664 5095
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Acerca de las máquinas de ver (OBJETIVO: VER), una compañía global fundada en 2000 y con sede en Australia, es líder en la industria de tecnología de monitoreo basada en visión que permite que las máquinas vean, comprendan y ayuden a las personas. Seeing Machines está revolucionando la seguridad del transporte global. Su cartera de tecnología de algoritmos de IA, procesamiento integrado y óptica, impulsan productos que necesitan brindar una comprensión confiable en tiempo real de los operadores de vehículos. La tecnología abarca la medición crítica de hacia dónde mira el conductor, hasta la clasificación de su estado cognitivo en relación con el riesgo de accidente. La medición confiable del "estado del controlador" es el objetivo final de la tecnología de los sistemas de monitoreo del controlador (DMS). Seeing Machines desarrolla la tecnología DMS para impulsar la seguridad en la industria automotriz, flota comercial, todoterreno y aviación. La empresa tiene oficinas en Australia, EE. UU., Europa y Asia, y proporciona soluciones y servicios tecnológicos a los líderes de la industria en cada mercado vertical.
www.seeingmachines.com
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