Seeing Machines reports continued automotive business growth
By Josh White
Date: Thursday 01 May 2025
(Sharecast News) - Seeing Machines reported continued growth in its automotive business in the third quarter of its 2025 financial year on Thursday, with the number of vehicles equipped with its driver monitoring system (DMS) technology reaching over 3.24 million globally.
The AIM-traded driver monitoring technology specialist said that represented a 77% increase year-on-year, driven by rising regulatory momentum and broader OEM adoption across Europe and other key markets.
Quarterly automotive production volumes rose to 358,162 units, up 34% from the prior quarter and 14% higher than the third quarter of the 2024 financial year, marking a recovery from the second quarter's industry-wide softness.
Year-to-date automotive production volumes totalled about 1.03 million units, representing a 39% increase over the same period last year.
Seeing Machines also confirmed that commercial production of its Guardian Generation 3 aftermarket safety product started at the end of March.
Production was expected to reach a run rate of 6,000 units per quarter by the end of June, supporting growing demand in the commercial transport and logistics market.
A referral agreement signed in February with Mitsubishi Electric Automotive America was now being executed, with sales activities underway across North America following joint marketing efforts.
While the company received prepayments on minimum royalty guarantees tied to several automotive programmes during the quarter, those volumes were not yet reflected in reported unit totals, and would be recognised as production commences.
Looking ahead, Seeing Machines said it expected steady growth in automotive royalty revenues as European OEMs moved to comply with the EU General Safety Regulation, which mandates the inclusion of Advanced Driver Distraction Warning systems in all new vehicles from July 2026.
The company reiterated its expectations for cumulative production volumes and high-margin royalty income to remain on track through 2026.
"It is encouraging to see our automotive production volumes increase again in the third quarter, and I am confident that this momentum will continue as additional new programmes start production this year and we move closer to the EU's General Safety Regulation requirement for Advanced Driver Distraction Warning, with significant uptick expected as we move through the 2026 financial year," said chief executive officer Paul McGlone.
"In our commercial transport segment, Guardian Generation 3 production is now well underway, and we are seeing positive results from a range of trials we are involved in across the Northern Hemisphere.
"We look forward to more of these trials as we work with Mitsubishi Electric Automotive America to leverage their vast customer base in America."
McGlone said the company's "innovative" Guardian Generation 3 technology delivered "superior automotive-grade technology", which would reduce false alerts, enabling the firm's Guardian Centre to operate more efficiently and ultimately result in increased customer satisfaction and safety outcomes.
"While we are cognisant of the broader and fast-moving global macro picture, the committed regulatory drivers in our industry remain unchanged, as new road safety regulatory requirements come into effect, led by the EU.
"Our strong financial position, best in class product and continued cost discipline support our ongoing focus on achieving our cash flow break-even run rate during the calendar year 2025 and we are doing everything in our power to succeed in that.
"Finally, we are pleased with the successful secondary placing carried out by Stifel to support Federated Investors' sale of Seeing Machines' stock to a range of existing and new institutional shareholders, demonstrating long-term confidence and support amongst our shareholder base as we focus on the opportunities ahead."
At 1154 BST, shares in Seeing Machines were up 6.1% at 1.83p.
Reporting by Josh White for Sharecast.com.
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