Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Seeing Machines says thirty vehicles will incorporate its technology within two years

% of readers think this story is Fact. Add your two cents.


Seeing Machines Limited (LON:SEE) said it expects thirty car models to be fitted with its driver monitoring technology within the next two calendar years just from existing manufacturing customers.

General Motors’ Cadillac Escalade is the latest vehicle on the roads to incorporate a Driver Attention System featuring Seeing Machines technology, it added, bringing the total of vehicles currently in production to five across three customers

As more models are launched, revenues from the automotive division will change to significantly higher margin-based royalty revenue, added the Australia-based tech company.

Revenues in the six months to end-December rose by 15% to A$18.1mln (£10mln) led by aftermarket sales, which rose by 17% to A$15mln while automotive and aviation improved by 5% to A$3.1mln.

Connections in the aftermarket business (Guardian)  were 26,597 at the end of  2020, which represented growth in the installed base of over 3,000 units in the past six months.

Net losses were reduced to A$16.8m from A$24.9m this time a year ago and helped by cost-saving measures introduced during the Covid-19 pandemic to cope with the disruption.

Paul McGlone, chief executive, said: ”The first half of FY2021 has been pleasing and we are buoyed by the progress in Fleet, as well as the significant increase in RFQ activity in Automotive across key markets as carmakers ready themselves for mounting safety standards and technology advances inside the cabin, all supported by camera-based DMS.

“We are now in production on five car models, working across three OEMs, and that is set to ramp up significantly over the coming two years.

 ”Further, I’m delighted with the interest we are seeing from both UK and US-based institutional investors, as DMS becomes more and more relevant across all key Seeing Machines transport sectors.

Seeing machines had cash at 31 December 2020 of A$52.3mln (31 December 2019: A$47.4m) since when it has carried out a US$10mln placing with the US-based Toronado Fund.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/945423/seeing-machines-says-thirty-vehicles-will-incorporate-its-technology-within-two-years-945423.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.