(Alliance News) - Seeing Machines Ltd on Monday said it has signed a referral agreement with Mitsubishi Electric Automotive America Inc to drive sales in the Americas. Read More
Seeing Machines Ltd - Canberra-based market of vehicle operator monitoring systems - Mitsubishi Electric Mobility Corp buys Seeing Machines shares from Lombard Odier Asset Management (Europe) Ltd as part of the Japanese company's strategic investment in its new collaboration partner. Last week, Mitsubishi Electric Mobility, a wholly-owned subsidiary of Mitsubishi Electric Corp, subscribed for new Seeing Machine shares to take a 15% stake. At the time, Seeing Machines said Mitsubishi also had agreed to buy existing shares from Lombard Odier and VS International Venture, the largest and second largest shareholders in the company, to increase its holding to 19.9%. On Tuesday, Seeing Machines says Mitsubishi on Tuesday last week bought 159.7 million shares at 4.09p each, the same price as the subscription, from Lombard Odier. Mitsubishi now has a 19.9% stake and Lombard Odier's has been reduced to 9.87% as of Friday from 15.0% before. Read More
(Alliance News) - Blue chips picked up in late trading to close higher on Monday, but mid-caps faltered as investors assessed a raft of downbeat domestic economic data. Read More
(Alliance News) - London's FTSE 100 recouped early losses to trade just in the green at midday on Monday although a raft of gloomy economic reports provided little festive cheer. Read More
(Alliance News) - Shares in Seeing Machines Ltd climbed on Monday after it announced a significant investment from, and collaboration with, Mitsubishi Electric Mobility. Read More
(Alliance News) - Seeing Machines Ltd on Monday said vehicles on the road and production of cars equipped with its technology grew in the first quarter, despite "challenges" in the global automotive sector. Read More
(Alliance News) - Seeing Machines Ltd on Wednesday said it expects to post double-digit revenue growth for financial 2024 alongside weaker earnings stemming from a slow transition to its latest generation driver solution. Read More
Seeing Machines Ltd - Canberra, Australia-based driver safety technology developer - Partners with French automotive parts supplier Valeo to meet demand for global driver safety technology. Further, company acquires Berlin-based Valeo subsidiary and driver safety software company Asaphus Vision. Seeing Machines will acquire Valeo's monitoring perception system software through Asaphus as well as a new office in Berlin. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - Shares in Seeing Machines Ltd motored on Tuesday after it reported a 51% increase in third quarter production and said it was on track to hit full-year targets. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
Seeing Machines Ltd - Canberra, Australia-based artificial intelligence driver monitoring specialist - Pretax loss widens to USD19.8 million in the six months to December 31 from USD4.5 million a year prior. Revenue edges up 5.5% to USD25.7 million from USD24.4 million. Cost of sales however increases 70% to USD15.2 million from USD8.9 million. Expenses increase 31% to USD27.9 million from USD21.3 million. Looking ahead, Seeing Machines says it is well placed to deliver continued progress in the year ahead with a typical weighting to the second half. Chief Executive Officer Paul McGlone cites "balance sheet strength and proven technology supported by regulatory changes." The company anticipates that its financial performance for financial year 2024 will be in line with consensus. Says consensus is revenue of USD66.3 million, up 15% from USD57.8 million in financial 2023, cash loss before interest, tax, depreciation and amortisation of USD28.4 million, and a cash position of USD26.1 million, 28% lower compared to net cash of USD36.1 million at June 30, 2023. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Seeing Machines Ltd on Wednesday said it has won an order to supply its Guardian Generation 3 technology to unnamed UK and European bus manufacturers following its launch on Tuesday. Read More
(Alliance News) - Seeing Machines Ltd on Tuesday unveiled its latest AI-powered driver monitoring system, in line with new regulations on vehicle safety. Read More
Seeing Machines Ltd - Canberra-based vision-based monitoring technology - Wins automotive program award with an existing European Tier-1 customer for a new European original equipment manufacturer. Says the program will be delivered via the company's FOVIO e-DME software library. It is scheduled to start production in 2026, carrying an initial lifetime value of USD30 million. Read More