Stifel has reaffirmed its ‘buy’ recommendation on Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) following a US$1.2 million contract with an unnamed North American autonomous vehicle company to expand deployment of its backup driver monitoring system (BdMS).
The deal involves fitting the group’s technology to test vehicles used in ride-hailing services.
While the client was not identified, Stifel highlighted industry speculation that Alphabet subsidiary Waymo is using the system, citing its appearance at the Consumer Electronics Show in Las Vegas.
Seeing Machines’ BdMS integrates its proprietary Fovio chip to monitor driver alertness, employing drowsiness and distraction detection to enhance safety when a human operator is present during autonomous testing.
Stifel said it was encouraged by the commercial momentum but made no changes to its financial forecasts. It added that activity may increase as the second half of 2025 progresses and the European General Safety Regulation deadline draws closer.
The shares were up 1.8% at 2.29p.