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Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) CEO Paul McGlone and CFO Martin Ive sat down with Proactive's Tylah Tully to discuss the company's FY24 results and quarterly KPIs.

McGlone emphasised Seeing Machines' automotive expansion, stating, "Greater than 2.6 million cars on the road, eight programs in production...demonstrates our ability to get programs over the line."

This quarter alone, the company reported over 405,000 vehicles, representing a 100% increase year-over-year.

The executives also explained changes to KPI metrics due to a new agreement with Caterpillar, including a one-time $16.5 million payment, which led to the removal of Caterpillar's sales volume from Seeing Machines' KPIs.

McGlone noted that emphasising "hardware sales and annual recurring revenue" will help shareholders more clearly understand Seeing Machines' growth and margin profile.

Ive highlighted the company's ongoing efforts toward cash flow break-even, with plans for cost reduction and strategic cash flow management.

While acknowledging industry volatility, Seeing Machines is optimistic for the future due to strong automotive penetration rates, regulatory-driven demand and forward-looking production timelines.

"Our focus is on increasing revenue, royalties, and margins, supported by a lower cost base," McGlone said.