Seeing Machines CEO talks FY25 update & growth outlook
Published: 07:26 26 Feb 2025 GMT
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) CEO Paul McGlone spoke with Proactive’s Tylah Tully about the company’s first-half FY25 trading update and second-quarter FY25 KPIs, covering automotive and OEM business performance.
McGlone acknowledged ongoing volatility in the global automotive sector, particularly among European and US manufacturers competing with China.
As a result, Seeing Machines saw a more pronounced reduction in its December quarter numbers.
However, despite this turbulence, the company still achieved 90% growth, bringing its total driver monitoring systems (DMS) to 2.8 million units across eight production programs.
He also highlighted Seeing Machines' contractual volume guarantees, which provide financial protection against ongoing market fluctuations.
Looking ahead, McGlone expects significant demand growth by early 2026, driven by the General Safety Regulation (GSR) mandating driver distraction warnings in new European vehicles.
Discussing Guardian Gen 3, McGlone confirmed that production is now on track to ramp up in March 2025, after previous delays.
He noted that the high-margin nature of future sales will be a key driver of profitability.
Additionally, Seeing Machines recently announced a referral agreement with Mitsubishi Electric Automotive Americas (MEAA), leveraging its strong customer network in the US market.
Despite short-term challenges, McGlone remains confident about Seeing Machines’ long-term growth potential, citing increased industry demand and upcoming OEM awards expected over the next 12 months.
He also confirmed an investor town hall event in London in April, where shareholders can engage directly with the company and explore new technology demonstrations.
