Episode Details

Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z) CEO Paul McGlone talked with Proactive's Stephen Gunnion about the company’s FY2026 half-year trading update, highlighting accelerating automotive royalty growth, improving margins and the expected inflection to positive adjusted EBITDA in Q3. Joining him, CFO Martin Ive outlined balance sheet developments, cash flow expectations and refinancing plans. McGlone said the results mark a critical turning point, noting the business is now just six months away from the EU’s General Safety Regulation (GSR) deadline, which mandates camera-based Driver Monitoring Systems (DMS) in all new EU vehicle registrations from July 7, 2026. He emphasised that while reported revenue was lower year-on-year due to timing effects, including the prior exclusive Magna licence and engineering programs transitioning into production, underlying automotive momentum remains strong. Automotive units on the road increased 67% year-on-year, with annual recurring revenue reaching US$14 million. McGlone stated that adjusted EBITDA loss has narrowed significantly and that the company expects to move into positive adjusted EBITDA in the current quarter. As he summarised: “Regulation is driving automotive, automotive royalties are highly cash generative. Costs are out, profitable in the second half and a long runway of applications for our technology.” Ive added that a US$14.1 million royalty receipt in January strengthened the balance sheet, with no anticipated need to raise capital. The company is progressing a receivables funding facility and a refinancing process for its convertible loan note. Looking ahead, investors should focus on accelerating royalty volumes, Guardian growth, and positive cash flow generation in the second half of FY26. For more insights from company leaders, visit Proactive’s YouTube channel, like this video, subscribe to the channel and enable notifications so you never miss an update. #SeeingMachines #DriverMonitoringSystems #AutomotiveTechnology #GSR2026 #AutomotiveRoyalties #ADAS #VehicleSafety #EBITDA #InvestorUpdate #Guardian #EURegulation #MobilityTechnology #DigitalCockpit #RoboticsTechnology