Seeing Machines (SEE) AGM 2024 summary

Opening remarks and agenda

• AGM opened with confirmation of quorum, acknowledgment of traditional land owners, and introduction of directors, CEO, executive team, and auditor, present in person or online.

• Chair welcomed attendees and outlined the agenda, including chair's address, financial and auditor's reports, formal business, voting procedures, general questions, and resolutions.

Financial performance review

• Revenue grew by 17% to $67.6 million in FY24, aligning with market consensus.

• Cash position at $23.4 million, supported by a new agreement with Caterpillar.

• $392 million in awarded automotive business, with most revenue expected by 2028.

• Board expects to reach cash flow break-even run rate in FY25, with positive cash flow anticipated in the latter part of the year.

• Financial statements for the year ended 30 June 2024, directors' report, and independent auditor's report were presented for consideration.

Board and executive committee updates

• Board and management remain focused on growth, margin expansion, and cost management.

• Board confident in managing cash flows until the business becomes self-funding.