Driver-monitoring specialist records highest-ever quarterly volumes ahead of European safety mandate
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z) produced nearly 580,000 vehicles with its driver-monitoring systems in the second quarter of its 2026 financial year, a 117% increase on the same period a year ago.
The Australia-based computer vision company said 4.8 million vehicles on the road now incorporate its Driver and Occupant Monitoring System technology, up from 2.9 million in the second quarter last year.
Quarterly production rose to 578,363 units, a 13% increase from the previous quarter and more than double the figure reported for the same period in 2025.
Guardian, the company’s aftermarket system for commercial transport fleets, also saw a sharp rise in hardware sales, reaching 3,764 units in the quarter. This compares with just 368 units in the first quarter.
Annual recurring revenue from Guardian increased by 4% to $14 million, supported by the connection of newly installed units. The company said its contracts typically span three years and generate high-margin service revenue.
Chief executive Paul McGlone said, “We are seeing increasing demand for our technology across Automotive as OEMs prepare for regulatory change, reinforcing the long-term role of driver monitoring within vehicle safety architectures.”
Seeing Machines expects demand to accelerate ahead of the European Union’s General Safety Regulation, which comes into force in July 2026. The regulation mandates driver monitoring systems for all new vehicles.
Despite some delays to new tenders, the company said existing production programmes are expected to scale across more European platforms in the coming quarters.
McGlone added that the company remained on track to deliver positive adjusted earnings before interest, tax, depreciation and amortisation in the third quarter and in the second half of the financial year, excluding the effect of a recently announced up-front royalty payment.