Slide 1: H1 2024 Results
H12024 Results Paul McGlone, CEO Martin Ive, CFO March 2024
Slide 2: H1 2024 Company Highlights
H1 2024 Company Highlights GROUND-BREAKING US$82M CABIN MONITORING PROGRAM STARTS PRODUCTION LARGEST DMS/OMS PROGRAM TO DATE FOR SEEING MACHINES STARTED PRODUCTION ON SCHEDULE WITH LARGE GERMAN OEM 1,500,000+ US$366M 56,896 CARS ON ROAD AWARDED GUARDIAN ACROSS 6 AUTOMOTIVE CONNECTIONS PROGRAMS PROGR
Slide 3: Regulatory – behaviour - outlook
Regulatory – behaviour - outlook ˗ Majority of passenger vehicle production royalties driven by optional Level 2/3 hands free driving systems, to date. Regulatory / industry drivers ˗ European GSR in force from July 2024 for Drowsiness, where direct (camera-based) or indirect (steering-wheel based)
Slide 4: Market Dynamics – DMS / OMS
Market Dynamics – DMS / OMS 90,000 ˗ 100%+ CAGR in production volumes for awarded programs to 80,000 FY26 70,000 60,000 ˗ Euro NCAP and EU GSR key factors now for increased direct Units ‘000 50,000 DMS fitment 40,000 30,000 ˗ Pipeline of opportunity remains 20,000 significant 10,000 ˗ Market share e
Slide 5: H1 FY2024 KPIs
H1 FY2024 KPIs Automotive - Cars on Road Six Programs at Start of Production 1,600,000 250,000 250,000 1,400,000 200,000 200,000 1,200,000 DMS Fitment 1,000,000 150,000 150,000 800,000 100,000 100,000 600,000 400,000 50,000 50,000 200,000 - Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 - - Q2 FY20
Slide 6: Guardian drives ARR growth
Guardian drives ARR growth KPIs Actual: Guardian Connections, Backlog 60,000 12,000 50,000 10,000 40,000 8,000 - 30% CAGR for Guardian Connections over the last 3 years 30,000 6,000 - Annualised Recurring Revenue increase of 9% from 30 June 2023 to US$14.6m 20,000 4,000 - Low churn results in growin
Slide 7: Review of H1 2024 Performance
Review of H1 2024 Performance 7 H1 2024 Results Presentation, March 2024
Slide 8: Balance Sheet
Balance Sheet CASH POSITION WORKING CAPITAL UNWIND AT 31 DECEMBER 2023 UNWIND H1 FY24 EXPECTED H2 FY24 US$22.2M US$12.1M US$5-6M FREE CASH OUTFLOW MONTHLY CASH BURN H1 FY24* H1 FY24* (US$13.7M) (~US$4.0M) * Working capital build up in H2 FY23 of US$16.6m largely related to the timing of Aftermarket
Slide 9: Financial Performance H1 FY2024
Financial Performance H1 FY2024 Company – half year comparison Company - year on year growth 48% 40 70 35 60 30 10% 50 33% 25 18% USD million 40 -4% 20 15 30 10 20 5 10 0 0 H1 21 H2 21 H1 22 H2 22 H1 23 H2 23 H1 24 FY2019 FY2020 FY2021 FY2022 FY2023 H1 2024 Revenue Gross Profit Revenue Gross Profit
Slide 10: Aftermarket Revenue
Aftermarket Revenue Aftermarket - half year comparison Aftermarket - steady growth 9% 25 35 9% 45% 30 20 25 100% USD million USD million 15 20 10 15 10 5 5 0 0 H2 21 H1 22 H2 22 H1 23 H2 23 H1 24 FY2019 FY2020 FY2021 FY2022 FY2023 H12024 Total Revenue Recurring Revenue Total Revenue Recurring Revenu
Slide 11: Automotive Revenue
Automotive Revenue Automotive - half year comparison Automotive - regulation underpins growth 16 30 166% 14 25 12 USD million 20 USD million 10 8 9% 8% 15 26% 6 4 10 2 5 0 H2 21 H1 22 H2 22 H1 23 H2 23 H1 24 0 FY2019 FY2020 FY2021 FY2022 FY2023 H12024 Total Revenue Royalty Revenue Total Revenue Roya
Slide 12: Aviation Revenue
Aviation Revenue Aviation - half year comparison Aviation - demonstrated growth 2 2 1.5 1.5 USD million 1 1 0.5 0.5 0 0 H2 21 H1 22 H2 22 H1 23 H2 23 H1 24 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 H1 2024 - Record revenue for Aviation as development work commences for Collins contract with NRE and li
Slide 13: Opex Investment
Opex Investment Opex Investment Mix 100% - Additional investment in research and development to resource Automotive and Guardian projects 75% - Flexible and lower cost development resources engaged to manage 50% fluctuations in requirements - Reduction in external resources commenced in Q2 FY24 and
Slide 14: FY2024 Outlook
FY2024 Outlook • Doubling of Automotive annual production units • 25% increase in connected Guardian units • Guardian Gen 3 launched, initial focus to support GSR compliance in Europe and Aftermarket across Europe/USA • Aviation to contribute ~5% of FY24 revenue based on launch of Gen 1 of joint sol
Slide 15: Pre-submitted Q&A - themes
Pre-submitted Q&A - themes Financial Strength Aftermarket, Guardian Aviation • Cost management a key focus • After Manufacture vs Enterprise • Progress with Collins Aerospace and (Aftermarket) sales process and the joint development of Aftermarket • Cash position and runway customer profile (includi
Slide 16: Appendix
APPENDIX 16 Add footer here pS} seeingmachines
Slide 17: H1 2024 Results Summary
H1 2024 Results Summary US$000's H1 2022 H2 2022 H1 2023 H2 2023 H1 2024 Revenue 15,814 23,185 24,383 33,405 25,734 Cost of goods (8,416) (13,076) (8,901) (19,971) (15,161) Gross profit 7,398 10,109 15,482 13,434 10,573 Operating costs (17,125) (17,751) (19,264) (20,740) (24,660) FX gains/losses & o
Slide 18: Half Year Revenue by Business Unit
Half Year Revenue by Business Unit US$000's H1 2022 H2 2022 H1 2023 H2 2023 H1 2024 Aftermarket 11,982 16,499 10,346 20,735 14,321 Automotive 3,384 6,387 13,764 12,197 9,804 Aviation 448 206 272 473 1,609 Total Income 15,814 23,185 24,383 33,405 25,734 • Aftermarket and Aviation experiencing expecte
Slide 19: Thank you
Thank you