Annual Review
2016

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Annual Review 2016

Year ended 30 June 2016

In 2016, Seeing Machines has further anchored its position as the preeminent intelligent physiological sensing technology company in global transport markets

Ken Kroeger, CEO

Ken Kroeger, CEO

A year in review


In 2016, Seeing Machines has further anchored its position as the preeminent intelligent physiological sensing technology company in global transport markets. While 2015 saw us take bold initial steps towards this position and the new possibilities, 2016 has been a year of execution across the five transport sectors that we target: commercial on-road, automotive, aviation, rail and mining.

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Ken
Kroeger
Mining

Mining

Mining

  • Seeing Machines received licence fee of A$21.8M, plus low double digit royalties on all DSS hardware sales & supporting DSS services
  • Caterpillar will broaden the fields of application for the products from mining to also include construction, cement and quarry, paving, forestry, marine and industrial operations
  • Caterpillar has taken over the marketing, manufacturing, selling and supporting all existing and new DSS customers
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The inclusion of DSS technology into our offerings has repositioned Caterpillar Safety Services in all the markets we serve and is allowing us to provide customers unprecedented insight into their operations.

Caterpillar is in the process of standing up our global supply chain to support the DSS-H product for companies investing in the power to see, mitigate and manage fatigue and distraction while reducing waste, maximizing profitability without increasing risk

Tim Crane, Manager, CAT Safety Services
$21.8M

License Fees

180

Countries

100,000+

Employees

Mining
Fleet

Fleet


  • The Seeing Machines fleet business has successfully transitioned from selling a de-ruggedized version of our DSS mining product to a fully scalable Guardian, Safety as a Service offering.
  • The business and developed and launched the Guardian System brand along with a new website, a range of marketing collateral and a state-of-the-art automated marketing platform.
  • Business development has been strengthened with implementation of a highly experienced and skilled international Sales Team and the required support network, now servicing Australia, EU/UK, North America, Latin America and United Arab Emirates with dedicated resources.
Read more Visit Guardian

We care about our drivers and want to make sure each one gets home safely every day. Even though our drivers and equipment are among the best on-the-road, we still saw a 70 to 90 percent or higher reduction in distracted driving and fatigue events during the assessment phase. We are confident this technology will further strengthen our safety culture, protect our drivers and improve highway safety overall.

Mark McClendon, CFO, Royal Foods Services
$2.25M

Research grant

4.6 Million

HCV’S sold per year by 2020

Fleet
Automotive

Automotive


Today, the core of the business is built upon our intellectual property and pioneering work in the field of Driver Monitoring Systems (DMS). In the US, distraction related motor vehicle accidents kill 8 people and injure 1161 per day and cost the country $40 billion. Fatigue is a contributory factor in approximately 20% of road accidents with driver inattention contributing to 80% of collisions.

Read more Visit Fovio

To radically improve road safety and the in-vehicle experience through the design, development and production of the world’s best driver monitoring technologies, leveraging Seeing Machines’ industry leading position.

Ken Kroeger, CEO, Seeing Machines
160

Employees

$42.40 Billion

Collision avoidance market by 2021

Automotive
Aviation

Aviation


Over the last 12 months the Seeing Machines Aviation Group has continued to increase our market presence in the global aviation industry; represented by the validation of market demand in core sectors, and in advances of our early stage product development with major aviation customer and partner engagements, including the following:

  • Engagement with a major freight carrier – globally recognised as a leader in Fatigue Risk Management – we successfully delivered a proof-of-concept for a solution to objectively measure pilot attention and alertness during critical phases of flight.
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The usability and precision of the eye-tracking solution provided by Seeing Machines have demonstrated the potential to provide the next breakthrough in the aviation industry in regards to understanding of pilot performance and pilot-system interaction in an aircraft. Eye-tracking has been used for research in these areas, but not been deployed for wide use in airline training and operations, which will be possible with Seeing Machines solution.

There has been much recent industry focus on monitoring and flight path management as well as on situation awareness and decision making, these areas are still difficult to address without precise performance data to guide design of effective training. The ability to collect and analyse data from your own airline pilots and feed it back into training will make it possible to know, understand and improve pilot performance in a way that has not been possible previously.

Head of Human Factors, Major Global Airline
533,000

Pilots required by 2033

Aviation
Rail

Rail


Completed 4 successful trials. The results far exceeded expectations due to the improvements in tracking range and reliability over the two years.

  • Working with Progress Rail and Electro Motive Diesel to develop a rail specific solution.
  • First commercial proposal has been submitted to a major US Urban Transit Authority for retrofit installation into 500 locomotives.
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£93 Billion

Global rail market worth

3

Successful trials

Rail
Opthalmic Diagnostics

Opthalmic Diagnostics


Glaucoma is the second-leading cause of blindness after cataracts and is expected to affect more than 79 million people globally by 2020.

nuCoria was established in 2014 to research, develop, and license novel visual field testing technology developed by the Australian National University (ANU), and is focused on commercializing an objective diagnostic aid and patient management technology for:

  • Ophthalmological diseases including glaucoma, diabetic retinopathy and macular degeneration.
Read more Visit nuCoria

This is an exciting development in commercialisation of the TrueField Analyzer technology. The ANU has been committed to partnering with Seeing Machines in the development of the TrueField IP which was originally generated from research at the University. We believe that it has the potential to have significant benefits in the area of ophthalmology. The links between ANU and Seeing Machines are long standing, with it originally being a start up from the University itself. The NuCoria collaboration brings the expertise of Seeing Machines and ANU together to take this technology to market.

Michael Cardew-Hall, Pro-Vice Chancellor of Innovation and Advancement, Australian National University
$25 Billion

Global Medical
Imaging Market

79 Million

People affected globally
with Glaucoma by 2020

Medical

finnCap


Lorne Daniel, Equities Analyst, finnCap

Very few of the publicly listed companies offer the prospect of changing the world in the way that Seeing Machines could. It’s leading edge technology ‘does what it says on the tin’; it allows computers to see us humans; to look at us and understand where we are, and what we are doing.

There is currently no better way of understanding what a human is doing or thinking about, or even what state they are in, than to monitor head movement and track their gaze. Certainly there are other enterprises trying to enter this market, but the robustness and reliability of Seeing Machines’ technology is already proven by years of use and expertise built up from practical application in the mining industry in the harshest environments on earth, and its solutions have already been tested, endorsed and adopted by some of the largest global corporations on the planet.

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finnCap

Terry Winters, Chairman

Chairman’s Message


2016 has been pivotal for Seeing Machines with the new development of its System in Package [SIP], successful licensing of Seeing Machines’ DSS mining product to Caterpillar — resulting in a significant one-off revenue boost for the company and 29% revenue growth in Guardian with a significant investment in Marketing, Sales and its Value Added Reseller program.

The Company has cemented itself as the market pioneer and leader of driver monitoring system (DMS) technology by securing follow-on orders from a major US automotive OEM...

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Terry
Winters

Technology & Human Factors

Technology & Human Factors

Seeing Machines is a recognized leader in the application of computer vision and intelligent sensing technology, related to the analysis of the human faces and eyes. Investments over 15 years in R&D and more recently in the study of human factors continues to position us as industry pioneers and world leaders in the science and commercial application of the technology.

Our technology measures human being’s as individuals, measuring physiological elements such as their physical position in space, the direction of their eye gaze and the diameter of their pupils. Going forward our strength is really turning that information into an understanding of what that person is thinking or able to to - going from the physiological to psychometric measurement.

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Technology
& Human

People


The year has seen the foundation HR processes deployed and formalised across the organisation with our ePerformance Management system well utilized, our remuneration frameworks successfully embedded and our eRecruitment solution effectively supporting our growth . We recruited for 46 positions over the year, filling 14 with existing employees and 22 externally. We managed 1060 external candidates. Our voluntary turnover was 11.2%.

We undertook our first employee engagement survey in August 2015. 102 employees completed the survey which equated to a strong 83% completion rate. Our overall engagement was 81% which compared very favourably with the ANZ Best Employers score of 82% and the US Best Employers score of 81%. We are very proud of our top scoring question which indicates that 9 out of 10 people who work at Seeing Machines are proud to be part of the organization.

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We intend to create and maintain a remuneration framework that is simple, transparent and fair to both shareholders and our employees.

Nicole Makin, SVP People and Culture
People
$33.6 million
Record full year revenue for year
ended 30 June 2016; 161% growth.
1600+ Units
Record number of units shipped for
year ended 30 June 2016; 172% growth.
150,000+
Total fatigue events detected
and intervened since July 2015
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Annual

Annual Report

Download the Seeing Machines Annual Report
for year ended 30 June 2016.