Want to see GB:SEE full AI Analyst Report?
Top Page
Seeing Machines
(LSE:SEE)
Select Model
Select Model
Rating:53Neutral
Price Target:
4.50 p
▼(-0.88% Downside)
Action:Reiterated
Date:05/07/26
The stock receives a moderate overall score of 53, reflecting a mix of strong technical momentum and concerning fundamentals. While the price is in a robust uptrend and momentum indicators are positive, the company's financial performance is weak due to persistent losses, high debt, and negative cash flows. Valuation remains unattractive with a negative P/E ratio. Investors should weigh the growth potential against the significant financial risks.
Positive Factors
Revenue Growth
Seeing Machines reported a very large year-over-year revenue increase (latest year +154%), indicating successful demand capture and program wins. Sustained high top-line growth supports scale economics, eases amortization of R&D, and enables longer-term margin improvement if production ramps continue.
Negative Factors
Negative Net Margin
A deeply negative net margin (-40%+) shows the company remains loss-making after operating costs, interest, and taxes. Persistent losses can erode equity, constrain reinvestment, and require external funding; converting strong gross margins into sustainable net profits is essential for long-term viability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Seeing Machines reported a very large year-over-year revenue increase (latest year +154%), indicating successful demand capture and program wins. Sustained high top-line growth supports scale economics, eases amortization of R&D, and enables longer-term margin improvement if production ramps continue.
Read all positive factors
Seeing Machines (SEE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£203.07M
Dividend YieldN/A
Average Volume (3M)13.40M
Price to Earnings (P/E)―
Beta (1Y)0.49
Revenue Growth-13.42%
EPS Growth9.80%
CountryUK
Employees365
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding4,912,392,000
10 Day Avg. Volume5,983,142
30 Day Avg. Volume13,403,154
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)<0.01
Revenue Forecast (FY)£102.63M
Seeing Machines Business Overview & Revenue Model
Company Description
Seeing Machines Limited, operating through its various subsidiary entities, delivers advanced driver monitoring technologies to markets worldwide, spanning Australia, North America, the Asia Pacific, and Europe. The company organizes its business ...
How the Company Makes Money
Seeing Machines makes money primarily by commercializing its driver monitoring technology across two main channels: (1) automotive OEM programs and (2) commercial/off-highway fleet solutions. In automotive, the company typically earns revenue thro...
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
25
Negative
Cash Flow
15
Very Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 60.03M | 62.34M | 67.63M | 57.77M | 39.00M | 35.44M |
| Gross Profit | 38.57M | 39.20M | 31.52M | 28.90M | 17.51M | 11.71M |
| EBITDA | -1.47M | -16.33M | -26.45M | -13.64M | -18.97M | -12.98M |
| Net Income | -29.59M | -25.27M | -31.28M | -15.55M | -18.57M | -13.09M |
Balance Sheet | ||||||
| Total Assets | 109.54M | 131.30M | 130.30M | 133.09M | 137.61M | 92.93M |
| Cash, Cash Equivalents and Short-Term Investments | 3.63M | 22.86M | 23.68M | 36.45M | 40.80M | 35.90M |
| Total Debt | 58.05M | 55.60M | 50.92M | 43.23M | 3.65M | 4.64M |
| Total Liabilities | 88.34M | 88.04M | 93.31M | 66.56M | 30.70M | 20.89M |
| Stockholders Equity | 21.20M | 43.26M | 36.98M | 99.89M | 73.82M | 72.05M |
Cash Flow | ||||||
| Free Cash Flow | -20.86M | -12.54M | -11.94M | -50.68M | -21.80M | -16.29M |
| Operating Cash Flow | -20.64M | -12.31M | 12.10M | -25.04M | -7.90M | -11.08M |
| Investing Cash Flow | -11.31M | -17.49M | -24.00M | -25.63M | -13.90M | -5.19M |
| Financing Cash Flow | -3.64M | 29.48M | -729.00K | 45.29M | 38.93M | 21.77M |
Seeing Machines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £163.52M | 14.82 | 104.64% | 5.37% | 1.57% | 1.80% | |
75 Outperform | £153.12M | 160.07 | 2.17% | 0.29% | 11.02% | -59.83% | |
69 Neutral | £354.43M | 9.39 | 45.78% | 17.40% | 8.46% | 111.81% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | £336.95M | 37.02 | 8.63% | ― | 25.86% | 225.77% | |
53 Neutral | £203.07M | -8.77 | -91.82% | ― | -13.42% | 9.80% | |
52 Neutral | £59.54M | 25.36 | 16.07% | ― | 24.53% | ― |
* Technology Sector Average
GB:SEE
Seeing Machines
4.15
1.37
49.28%
GB:CNS
Corero Network Security
11.63
2.38
25.68%
GB:PAY
Paypoint
601.00
-28.75
-4.57%
GB:BOKU
BOKU
118.00
-99.00
-45.62%
GB:BKS
Beeks Financial Cloud Group Plc
222.50
26.50
13.52%
GB:FNX
Fonix Mobile PLC
167.50
-41.97
-20.04%
Seeing Machines Corporate Events
Business Operations and StrategyProduct-Related Announcements
Seeing Machines Wins EU Driver Monitoring Deal as New Safety Rules Bite
Positive
Jul 22, 2026
Seeing Machines has secured a new driver and occupant monitoring program with a European automotive manufacturer via an existing Tier 1 supplier, cementing its role in the fast‑growing market for in‑cabin camera safety systems. The dea...
Business Operations and StrategyPrivate Placements and Financing
Seeing Machines advances talks to refinance October convertible note
Positive
Jul 1, 2026
Seeing Machines said it is in advanced talks with several potential lenders and has received multiple term sheets to refinance its convertible note ahead of the October 4, 2026 maturity date. Management expects the refinancing to complete well bef...
Business Operations and Strategy
Seeing Machines wins US$31m expansion for in-cabin monitoring with European OEM
Positive
Jun 18, 2026
Seeing Machines has secured a US$31m expansion of an existing automotive production program with a major European carmaker, extending deployment of its driver and occupant monitoring systems across additional vehicle models from the second half of...
Business Operations and Strategy
Seeing Machines lands new Japanese OEM deals to expand in-cabin monitoring footprint
Positive
Jun 15, 2026
Seeing Machines has secured new automotive program awards to supply its Driver and Occupant Monitoring System software to two Japanese car manufacturers via existing European and Japanese Tier 1 suppliers. The contracts cover single and dual camer...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Seeing Machines wins US$3.8m order for backup-driver monitoring in autonomous fleets
Positive
May 12, 2026
Seeing Machines has secured a US$3.8 million purchase order for its Guardian Backup-driver Monitoring System from a leading North American autonomous driving company, deepening an existing partnership as the customer expands its autonomous test fl...
Business Operations and StrategyFinancial Disclosures
Seeing Machines Hits Record Q3 Volumes as EU Safety Rules Drive DMS Demand
Positive
May 6, 2026
Seeing Machines reported a sharp acceleration in automotive production volumes in Q3 FY2026, with more than 1.28 million vehicles fitted with its driver and occupant monitoring technology, up 122% quarter-on-quarter and 259% year-on-year. This sur...
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.