Seeing Machines builds camera-based systems that watch drivers' eyes and faces to catch fatigue or distraction, like a digital co-pilot for cars, trucks, and mining equipment.
Revenue is tiny at USD 0.06B annually, with gross margins around 64% but heavy losses—net margin is -49%—so the OEM licensing and aftermarket monitoring services don't yet cover costs.
Their driver-monitoring tech is embedded in automaker supply chains, but competitors like Smart Eye and Affectiva (now Cerence) are pushing into the same regulatory-driven market, and the company's small scale and ongoing losses make the position fragile.
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Seeing Machines is at an inflection point for its royalty business, driven by significant year-over-year revenue growth, particularly in royalty revenue.
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