Seeing Machines CEO on Q2 KPIs, royalties growth & GSR boost

Core Insights - Seeing Machines Ltd's CEO Paul McGlone reported positive growth in Q2, driven by automotive royalties, Guardian hardware sales, and increasing annual recurring revenue as regulatory pressures build towards the July 2026 General Safety Regulation (GSR) deadline [1][2]. Group 1: Financial Performance - The company experienced a positive growth number in Q2, indicating confidence that regulatory drivers will lead to increased volumes [2]. - Actual production volumes in Q2 exceeded minimum guarantees for the first time under guaranteed volume arrangements, enhancing confidence for Q3 and Q4 [4]. Group 2: Regulatory Environment - OEM compliance preparations for GSR are progressing well, with all necessary integration work completed ahead of the 2026 deadline [2]. - Delays in RFQs across the automotive market are attributed to broader industry uncertainty but do not impact GSR-related production volumes, as current RFQs will not affect revenue until 2028 at the earliest [3]. Group 3: Strategic Positioning - The company holds incumbency advantages in Europe, positioning it strongly ahead of GSR enforcement [5]. - Expectations are set for cash flow breakeven in Q3 and profitability in the second half of the year [5].