REG - Seeing Machines Ltd - Key Performance Indicators Q1 FY 2023

Seeing MachinesAnnouncement

23/11/2022 07:01

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RNS Number : 2171H  Seeing Machines Limited  23 November 2022

 

Seeing Machines Limited ("Seeing Machines" or the "Company")

 

 

23 November 2022

 

Seeing Machines Key Performance Indicators Q1 FY 2023

 

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, has published its first set of
non-financial Key Performance Indicators (KPIs) for the quarter ended 30
September 2022 (Q1 FY2023).

 

Highlights:

-     Cars on road increased by 204% over 12 months to 559,302 units (Q1
FY22: 183,517)

-     Guardian connections increased 19% over 12 months to 41,415 (Q1
FY22: 34,910)

-     Guardian units sold, yet to be connected of 9,698 units

 

KPIs - Q1 FY2023

 

Automotive:

 

                Q1 FY2022  Q2 FY2022  Q3 FY2022  Q4 FY2022  Q1 FY2023
 Cars on road   183,517    243,722    341,835    447,225    559,302
 % Growth                  33%        40%        31%        25%

 (Qtr on Qtr)

 

Aftermarket (Guardian):

 

                                  Q1 FY2022  Q2 FY2022  Q3 FY2022  Q4 FY2022  Q1 FY2023
 Monitored connections            34,910     36,933     37,791     39,892     41,415
 % Growth                                    6%         2%         6%         4%

 (Qtr on Qtr)
 Units sold, yet to be connected  3,625      4,587      5,850      10,706     9,698

 

Going forward, Seeing Machines will publish updates to these KPIs on a
quarterly basis.

 

Paul McGlone, CEO of Seeing Machines commented:

 

"I'm delighted to provide this additional transparency of quarterly progress
across the company. Our technology is well entrenched as market leading and
that is evidenced by the momentum we see in our dealings and importantly, the
numbers. It is tremendous to see cars on road, fitted with our technology,
increasing with a significant year on year hike and 25% increase over the
final quarter of fiscal FY22, as more of our ongoing programs progress into
production.

 

"In Aftermarket, our hardware sales have grown more modestly due to previously
reported supply constraints but as previously announced, now that we have
resolved these issues, we anticipate stronger growth towards the end of the
year as a significant hardware delivery is received before the end of calendar
2022. This stock is expected to meet the growing demand for Guardian, in its
current generation, this financial year. The rate of connections has also been
slower than hoped as our customers deal with timing of supply and effects of
the pandemic, which are still impacting the transport and logistics sectors,
but we have seen encouraging signs of a return to a more normalised growth
rate so far in the current fiscal year."

 

KPIs should not be considered superior to, or a substitute for, operating
results prepared in accordance with accounting standards. For clarity, the
above KPI's have been defined below.

 

Cars on road counts all light vehicles in production fitted with Seeing
Machines automotive grade Driver Monitoring System (DMS) technology.

 

Guardian monitored connections is a global count of all vehicles fitted with
Guardian and actively monitored.

 

 

Enquiries:

 

 Seeing Machines Limited                     +61 2 6103 4700
 Paul McGlone - CEO

 Sophie Nicoll - Corporate Communications

 Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)                +44 20 7710 7600
 Alex Price

 Nick Adams

 Ben Burnett

 Lionsgate Communications (Media Enquiries)  +44 7791 892509

 Jonathan Charles

 

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' 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 (http://www.seeingmachines.com)

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