H1 FY2023 Results Presentation
Paul McGlone, CEO
Martin Ive, CFO
8 March 2023
H1 FY2023 Highlights
ANNUAL | CASH POSITION | |
RECORD REVENUE | RECURRING | |
REVENUE | AT 31 DEC 2022 | |
US$24.4M | US$11.9M US$52.2M | |
54% from H1 FY22 | 16% from Dec 2021 |
46,018 | US$47.5M investment |
GUARDIAN | BALANCE SHEET STRENGTHENED WITH |
CONNECTIONS | INVESTMENT FROM MAGNA INTERNATIONAL |
US$321M
AWARDED
AUTOMOTIVE
PROGRAM VALUE
700,000+
CARS ON ROAD
ACROSS 6
PROGRAMS
2 Results Presentation, March 2023
Balance Sheet Strength
CASH POSITION | FINAL TRANCHE | TOTAL FUNDING |
AT 31 DEC 2022 | CONVERTIBLE NOTE | AT 31 DEC 2022 |
US$52.2M | US$17.5M | US$69.7M |
FREE CASH FLOW H1 FY23
(US$18.5M)
3 Results Presentation, March 2023
Financial Performance H1 FY23
70% | ||
Company - half year comparison | Company - year on year growth | |
50 | 50 | 10% |
33% | ||
USD million
40
54%
30 | 20% | |||||||
22% | ||||||||
-9% | 8% | |||||||
20 | ||||||||
10 | 36% | 36% | 63% | |||||
70% | 47% | |||||||
0 | ||||||||
H1 FY18 | H1 FY19 | H1 FY20 | H1 FY21 | H1 FY22 | H1 FY23 | |||
Revenue | Gross Profit | |||||||
USD million
4018%
-4%
30
20
10
0
FY18 | FY19 | FY20 | FY21 | FY22 | H1 FY23 | ||
Revenue | Gross Profit | ||||||
- Market tailwinds resulting in more revenue opportunities
- 5-yearrevenue CAGR 17% for H1 with upward trend
- Expanding gross margin with changes in revenue mix
4 Results Presentation, March 2023
Aftermarket Revenue
15
USD million | 10 |
5 | |
0
-
-
-
-
Aftermarket - half year comparison | Aftermarket - steady growth | |||||||||||||||||
30 | ||||||||||||||||||
25 | ||||||||||||||||||
20 | ||||||||||||||||||
million | ||||||||||||||||||
15 | ||||||||||||||||||
USD | ||||||||||||||||||
10 | ||||||||||||||||||
5 | ||||||||||||||||||
0 | ||||||||||||||||||
H1 FY18 | H1 FY19 | H1 FY20 | H1 FY21 | H1 FY22 | H1 FY23 | FY18 | FY19 | FY20 | FY21 | FY22 | H1 FY23 | |||||||
Revenue | Recurring Revenue | Revenue | Recurring Revenue | |||||||||||||||
Supply chain constraint in H1 FY23 limited hardware sales
Guardian Generation 3.0 scheduled for H1 FY24 to drive additional volume and margin expansion Installations of 6,000+ units contributed to Recurring Revenue, 54% CAGR over 5 years and 57% of revenue Churn for service provisions very low < 2% p.a.
5 Results Presentation, March 2023
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Disclaimer
Seeing Machines Limited published this content on 08 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2023 01:35:05 UTC.