Seeing Machines (SEE) Investor presentation summary

Executive overview

• EU General Safety Regulation requires camera-based DMS for all new EU vehicle registrations from 7 July 2026; OEM production ramp is expected to accelerate through FY2027.

• More than 8.2m vehicles have DMS/OMS installed, with over 50% share of current automotive production volumes.

• Guardian is in full production; growth is supported by Mitsubishi Electric Mobility Corporation’s partnership across Europe, the US and Japan.

• Rising Automotive royalty volumes are expected to support cash generation through FY2027; H2 FY2026 was cashflow positive.

• Indicative terms were agreed to refinance the Magna Convertible Loan Note, with exclusive negotiations underway ahead of its 4 October 2026 maturity.

FY2026 financial performance

• FY2026 adjusted revenue was $76.3m, up 45% YoY; indicative gross margin was 75–77% vs 62.9% in FY2025, and adjusted EBITDA loss was $2.0–3.0m vs $30.1m.

• FY2026 figures remain subject to completion and audit; H2 adjusted revenue was $52.9m vs $23.4m in H1, while adjusted EBITDA was $10.7–11.7m vs a $13.7m loss.

• Q4 FY2026 Automotive royalties rose 64% QoQ and 331% YoY.

• FY2026 Automotive royalty revenue grew 135% YoY and hardware revenue grew 65%, partly offset by a 62% decline in NRE revenue; mix shifted toward higher-margin royalties.

• H2 royalty revenue rose 199% vs H1 and exceeded total H1 revenue; higher royalty mix lifted gross margin on higher revenue.

Automotive and regulatory outlook

• Automotive production reached 4.5m units in FY2026, up 195% YoY from 1.5m; H2 production was 3.4m units, up 212% vs H1.

• Regulation is established in Europe and China, Japan is set for 2029, and US activity is expanding; requirements are broadening toward impairment, attention and occupant sensing.

• The platform draws on more than 25 years of human-factors research, production-ready in-cabin AI and technology designed for reuse across OEM programs and adjacent markets.

• Safety technology is supported by more than 24bn km of Guardian fleet insights and over 8m vehicles across more than 11 automotive OEMs.