Seeing Machines Ltd (GB:SEE)
LSE:SEE
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Seeing Machines
(LSE:SEE)
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Rating:48Neutral
Price Target:
3.00 p
▼(-51.14% Downside)
Action:ReiteratedDate:02/07/26
The score is held down primarily by weak financial quality (ongoing losses, negative operating cash flow) and bearish near-term technical momentum. These are partially offset by a more positive earnings-call outlook pointing to regulation-driven growth and cost actions targeting cash-flow breakeven.
Positive Factors
Regulation-driven market position
A regulatory mandate (EU July 2026) creating broad, persistent demand benefits a firm with ~50% production share. This should produce recurring per-vehicle royalties and embed the company as a long-term supplier to OEM programs, supporting steady revenue scale as vehicle volumes roll out.
Negative Factors
Negative operating cash flow
Persistent negative operating cash flow undermines funding stability and forces reliance on financing or asset sales to support growth. Even with positive FCF to net income ratio, volatility raises liquidity risk during the product transition and OEM ramp phases, constraining long-term investment flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulation-driven market position
A regulatory mandate (EU July 2026) creating broad, persistent demand benefits a firm with ~50% production share. This should produce recurring per-vehicle royalties and embed the company as a long-term supplier to OEM programs, supporting steady revenue scale as vehicle volumes roll out.
Read all positive factors
Seeing Machines (SEE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£152.67M
Dividend YieldN/A
Average Volume (3M)11.65M
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth-10.24%
EPS Growth33.33%
CountryUK
Employees421
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding4,912,392,000
10 Day Avg. Volume12,860,738
30 Day Avg. Volume11,646,671
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)4.16
Price to Sales (P/S)2.89
P/FCF Ratio-14.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)£87.03M
Seeing Machines Business Overview & Revenue Model
Company Description
Seeing Machines Limited, together with its subsidiaries, provides driver monitoring technologies in Australia, North America, the Asia Pacific, Europe, and internationally. It operates through two segments: Original Equipment Manufacturer (OEM) an...
How the Company Makes Money
Seeing Machines generates revenue mainly through (1) automotive programs and (2) fleet/transport solutions, with additional income from engineering/services and related contracts where applicable. In automotive, the company typically earns money b...
Seeing Machines Earnings Call Summary
Earnings Call Date:Sep 25, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 28, 2026
Earnings Call Sentiment Neutral
The earnings call highlights Seeing Machines' strong market position in automotive, driven by upcoming regulations and strategic partnerships. However, revenue decline and sales delays present challenges. The company has a clear path to profitability with ongoing cost reductions and expected revenue growth, but execution risk remains.Positive Updates
Strong Market Position in Automotive
Seeing Machines holds around a 50% share in the automotive driver monitoring system market based on production volume, positioning them well for upcoming regulations in Europe that require camera-based systems in all vehicles by July 2026.
Negative Updates
Decline in Overall Revenue
Revenue decreased compared to fiscal year 2024, primarily due to the transition from Gen 2 to Gen 3 in the Guardian product line and reduced aviation revenue, totaling a $16 million reduction.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Market Position in Automotive
Seeing Machines holds around a 50% share in the automotive driver monitoring system market based on production volume, positioning them well for upcoming regulations in Europe that require camera-based systems in all vehicles by July 2026.
Read all positive updates
Company Guidance
During the call, Seeing Machines Limited provided detailed guidance across several key metrics. The company anticipates substantial growth in automotive royalties, driven by new European regulations requiring camera-based driver monitoring systems by July 2026. Currently, Seeing Machines holds a 50% market share in production volume, which they expect to maintain in the short term, although they project a more conservative 35% share long-term due to increased competition. The Guardian product line is also expected to see significant growth, influenced by new regulations in the U.S. and global safety advocacy. In fiscal year 2025, the company reported a decrease in revenue, largely due to a transition from Gen 2 to Gen 3 Guardian products and reduced aviation revenue. However, they emphasized cost management improvements and anticipate achieving a cash flow breakeven run rate by the end of the calendar year. Seeing Machines plans to leverage partnerships, notably with Mitsubishi, to explore new market opportunities, including in insurance and smart factory sectors.Seeing Machines Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 62.34M | 67.63M | 57.77M | 39.00M | 35.44M |
| Gross Profit | 39.20M | 31.52M | 28.90M | 17.51M | 11.71M |
| EBITDA | -16.33M | -26.45M | -13.64M | -18.97M | -12.98M |
| Net Income | -25.27M | -31.28M | -15.55M | -18.57M | -13.09M |
Balance Sheet | |||||
| Total Assets | 131.30M | 130.30M | 133.09M | 137.61M | 92.93M |
| Cash, Cash Equivalents and Short-Term Investments | 22.86M | 23.68M | 36.45M | 40.80M | 35.90M |
| Total Debt | 55.60M | 50.92M | 43.23M | 3.65M | 4.64M |
| Total Liabilities | 88.04M | 93.31M | 66.56M | 30.70M | 20.89M |
| Stockholders Equity | 43.26M | 36.98M | 99.89M | 73.82M | 72.05M |
Cash Flow | |||||
| Free Cash Flow | -12.54M | -11.94M | -50.68M | -21.80M | -16.29M |
| Operating Cash Flow | -12.31M | 12.10M | -25.04M | -7.90M | -11.08M |
| Investing Cash Flow | -17.49M | -24.00M | -25.63M | -13.90M | -5.19M |
| Financing Cash Flow | 29.48M | -729.00K | 45.29M | 38.93M | 21.77M |
Seeing Machines Technical Analysis
Negative
6.14
Price Trends
3.64
Negative
4.31
Negative
3.66
Negative
Market Momentum
-0.17
Negative
44.28
Neutral
34.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SEE, the sentiment is Negative. The current price of 6.14 is above the 20-day moving average (MA) of 3.16, above the 50-day MA of 3.64, and above the 200-day MA of 3.66, indicating a bearish trend. The MACD of -0.17 indicates Negative momentum. The RSI at 44.28 is Neutral, neither overbought nor oversold. The STOCH value of 34.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:SEE.
Seeing Machines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £156.06M | 6.83 | 104.64% | 7.02% | -4.35% | 5.34% | |
68 Neutral | £484.54M | 66.92 | 9.64% | ― | 22.19% | 78.35% | |
64 Neutral | £357.37M | 8.32 | 17.25% | 20.30% | 1.58% | -57.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £61.46M | 9.55 | -3.99% | ― | -5.43% | -292.31% | |
60 Neutral | £113.44M | -23.06 | 2.17% | ― | 26.09% | 32.43% | |
48 Neutral | £152.67M | ― | -76.66% | ― | -10.24% | 33.33% |
* Technology Sector Average
GB:SEE
Seeing Machines
3.12
1.47
89.09%
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Seeing Machines Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Seeing Machines scales royalties and vehicle reach as regulation-driven demand builds
Positive
Mar 27, 2026
Seeing Machines reported half-year 2026 results showing an 8% decline in adjusted revenue to $23.4m as OEM non-recurring engineering and licence fees fell, but highlighted stronger underlying quality of earnings as high-margin automotive royalties...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Seeing Machines boosts royalties and recurring sales as car volumes surge past 4.8 million
Positive
Mar 27, 2026
Seeing Machines reported mixed half-year results to 31 December 2025, with adjusted revenue down 8% to US$23.4m as OEM engineering and licence income declined, but annualised recurring revenue rose to US$14m and Aftermarket sales climbed 18% on st...
Business Operations and StrategyFinancial Disclosures
Seeing Machines Publishes Investor Presentation to Expand on H1 FY2026 Update
Neutral
Feb 24, 2026
Seeing Machines has released an investor presentation to accompany its H1 FY2026 trading update, offering additional detail on the key metrics highlighted in that earlier disclosure. The materials, available via the company’s website, are ai...
Business Operations and StrategyFinancial Disclosures
Seeing Machines publishes detailed investor presentation alongside H1 FY2026 update
Positive
Feb 24, 2026
Seeing Machines Limited has released an investor presentation to accompany its H1 FY2026 trading update, offering additional detail on the key metrics previously disclosed to the market. The non-regulatory communication is intended to give shareho...
Business Operations and StrategyFinancial Disclosures
Seeing Machines Ramps Up Driver-Monitoring Rollout Ahead of EU Safety Deadline
Positive
Feb 18, 2026
Seeing Machines reported expected H1 FY2026 revenue of US$23.4m–US$24.0m, slightly below the prior year as non-recurring engineering work tapered off, while annualised recurring revenue rose to US$14.0m and adjusted EBITDA losses narrowed on...
Business Operations and Strategy
Seeing Machines Adds Singer Capital Markets as Joint Corporate Broker
Positive
Feb 13, 2026
Seeing Machines Limited has appointed Singer Capital Markets as a joint corporate broker, adding to its existing broker Stifel Nicolaus Europe, in a move that may broaden its access to capital markets and investor networks. The appointment undersc...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Seeing Machines Rides Regulatory Tailwinds as Automotive and Fleet Safety Sales Surge
Positive
Feb 11, 2026
Seeing Machines reported strong growth in its automotive driver and occupant monitoring business, with cars on the road using its technology rising 67% year on year to about 4.8 million and quarterly production up 13% from the prior quarter and 11...
Business Operations and StrategyProduct-Related Announcements
Seeing Machines Unveils 3D Cabin Mapping Platform at CES 2026
Positive
Jan 13, 2026
Seeing Machines has unveiled a next-generation 3D Cabin Perception Mapping platform at CES 2026, delivering real-time, comprehensive digital reconstruction of vehicle interiors from a single high-trust perception layer that supports multiple camer...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.