Q3 FY2026 Quarterly KPIs
Seeing Machines Limited reported strong Q3 FY2026 Key Performance Indicators, with automotive production volumes reaching a record 1,284,557 units, a 122% increase quarter-on-quarter and 259% year-on-year, driven by accelerating Driver and Occupant Monitoring System (DMS/OMS) fitment ahead of regulatory deadlines. The company's Q3 FY2026 Automotive royalty revenue surpassed the total for the first half of the financial year, and over 6.1 million cars now feature Seeing Machines' technology. Guardian Annual Recurring Revenue (ARR) grew 5% to $14.7 million, despite a dip in hardware unit sales to 1,610, with the company expecting positive Adjusted EBITDA in Q3 and H2 FY2026.
Select text to share a quote on X · sign in to keep highlights & notes in your SEE notes
Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, is pleased to report its quarterly Key Performance Indicators ("KPIs") for the quarter ended 31 March 2026 ("Q3 FY2026").
Q3 FY2026 KPI highlights:
- 1,284,5571 units produced in Q3 FY2026, up 122% from the previous quarter (Q2 FY2026: 578,363) and up 259% from the previous corresponding quarter (Q3 FY2025: 358,162), establishing a materially higher quarterly run-rate
- Q3 FY2026 Automotive royalty revenue has exceeded total H1 FY2026 Automotive royalty revenue
- 6,103,288 cars on the road with Seeing Machines' Driver and Occupant Monitoring System (DMS/OMS) technology, representing an increase of 88% from 12 months ago (Q3 FY2025: 3,241,907)
- 1,610 Guardian unit sales (Q2 FY2026: 3,764)
- $14.7m Guardian ARR, representing an increase of 5% from Q2 FY2026
Automotive Production Volumes (production of new vehicles using Seeing Machines' Driver & Occupant Monitoring System (DMS/OMS) technology):
| Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | |
|---|---|---|---|---|---|
| Production FY2025-26 | 358,162 | 488,294 | 510,167 | 578,363 | 1,284,557 |
| % Growth Qtr. on Qtr. | 34% | 36% | 4% | 13% | 122% |
| Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | |
| Production FY2024-25 | 313,662 | 381,215 | 405,669 | 266,654 | 358,162 |
| % Growth Yr on Yr | 14% | 28% | 26% | 117% | 259% |
Automotive production volumes surpassed 1.28 million units in Q3 FY2026, up 122% quarter-on-quarter and 259% year-on-year. Q3 FY2026 Royalty Revenue was higher than Royalty Revenue for the entire first half of the financial year. This reflects accelerating DMS fitment across existing and new production programs as Automotive OEMs prepare for the July 2026 European General Safety Regulation (GSR) deadline and supports the expected operating leverage in the Company's Automotive royalty model.
Looking ahead, Seeing Machines believes Q3 FY2026 marks the transition to significantly higher quarterly volumes, driven by regulatory-led fitment, that will continue to increase into FY2027, as OEMs deploy DMS across European platforms. The Q3 FY2026 result supports confidence in continued growth as existing and additional programs ramp toward GSR compliance.
Aftermarket: Guardian (technology for commercial transport fleets and logistics companies):
| Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | |
|---|---|---|---|---|---|
| Guardian Hardware unit sales | 1,151 | 2,536 | 368 | 3,764 | 1,610 |
| Guardian Annual Recurring Revenue 2 | $13.4m | $13.5m | $13.5m | $14.0m | $14.7m |
| % Growth Qtr. On Qtr. | 0% | 1% | 0% | 4% | 5% |
Guardian commercial momentum remains solid. While some sales expected in Q3 FY2026 have shifted to Q4 FY2026, early Q4 performance to date is encouraging. Importantly, customer engagement continues to strengthen across all regions, supporting confidence in the near-term conversion pipeline.
Guardian Annual Recurring Revenue (ARR) continues to increase steadily as installed hardware is connected and activated, converting one-off hardware deployments into recurring, high-margin service revenue. Customer contracts typically span approximately 36 months, supporting revenue visibility as the connected base expands.
Paul McGlone, CEO of Seeing Machines, commented: "Q3 delivered a clear inflection point for Seeing Machines. Importantly, Q3 Royalty Revenue was higher than Royalty Revenue for the entire first half of the financial year, demonstrating the operating leverage in our Automotive model as production programs scale. Automotive production volumes exceeded 1.28 million units in the quarter, a record level, as OEMs scaled up DMS fitment ahead of the July 2026 European regulatory deadline and the Company expects to deliver positive Adjusted EBITDA in Q3 and H2 FY2026. On current schedules, we expect production volumes to increase again in Q4.
The step-change in quarterly volumes is significant and we believe this marks the beginning of a new phase of higher, more consistent production volumes as we move through the end of FY2026 and into FY2027. This is supported by regulation and our embedded position across major OEM programs and has resulted in the continued growth of vehicles on road using Seeing Machines technology. With more than 6 million cars now on road, our focus remains on converting this momentum into sustained royalty growth as global transport safety requirements continue to strengthen."
1 Automotive production volumes represent actual vehicle production and exclude minimum guaranteed volumes
2 Guardian ARR is the annualised value of ongoing monthly monitoring services from installed and connected hardware units
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.