London-listed vehicle technology firm Seeing Machines has returned to profitability following a sharp rise in demand for its driver monitoring software, triggered by new European safety legislation.
The AIM-listed developer of camera and artificial intelligence software reported a 45 per cent increase in annual revenue to £58.7 million, compared to £40.6 million in the previous year. Revenue in the second half of the financial year rose 126 per cent.
Royalty revenues increased 135 per cent year-on-year to £26.1 million ($33.9 million) as motor manufacturers integrated the company’s systems to comply with updated European regulations. The European Union General Safety Regulation mandate, which took effect on 7 July 2026, requires camera-based driver monitoring technology on all new vehicle registrations across Europe.
Vehicle production volumes incorporating Seeing Machines software grew by 195 per cent to nearly 4.5 million units. Fourth-quarter production reached 2.1 million units, representing a 333 per cent increase on the corresponding period in the previous year.
The company expects second-half earnings before tax to reach between £8.2 million and £9 million, reversing a £10.5 million loss recorded in the first half. Cash reserves at the end of the financial year are projected at £3.3 million.
Expanding its global operations, Seeing Machines secured agreements with three Japanese vehicle manufacturers and added £30.8 million in program expansions with existing European automotive clients. More than 8.2 million vehicles globally now operate using the company’s software.
Sales of the company’s Guardian commercial fleet system, used by Transport for London, recorded a 90 per cent quarter-on-quarter increase in hardware units in the fourth quarter, taking full-year fleet revenue to £11.5 million.
Paul McGlone, chief executive of Seeing Machines, said the firm’s latest financial year was “pivotal” and added the new legislation had meant demand for systems was “increasingly underpinned by regulatory requirements”.
Image source: Seeing Machines
