Seeing Machines (SEE) H1 2026 earnings summary

Executive summary

• Adjusted revenue for the half-year ended 31 December 2025 decreased by 8% year-over-year, while adjusted EBITDA losses improved by 23%.

• Gross profit margin increased to 58% from 55% despite a decrease in gross profit to $13.3m.

• Loss for the half-year increased to $22.5m from $18.2m in the prior year period.

• Over 4.8 million vehicles now use the Group’s DMS/OMS technology, with a market share exceeding 50% in current production volumes.

Financial highlights

• Adjusted revenue: $23.4m (down 8% year-over-year).

• Adjusted EBITDA loss: $13.7m (improved by 23% year-over-year).

• Gross profit: $13.3m (down from $14.0m), gross margin: 58% (up from 55%).

• Net loss: $22.5m (vs. $18.2m prior year).

• No interim dividends declared or paid.

Outlook and guidance

• Anticipates increased automotive production volumes and royalty revenues in H2 FY2026 and FY2027, driven by EU regulatory requirements for camera-based DMS from July 2026.

• Ongoing cost reduction initiatives and improved cash collection discipline expected to support liquidity.