REDMOND, WA / ACCESS Newswire / December 16, 2025 / MicroVision, Inc. (NASDAQ:MVIS), a technology pioneer delivering advanced perception solutions in autonomy and mobility, today announced commercial momentum in the Industrial and Security & Defense sectors with an initial order for MOVIA L sensors with integrated software."We are pleased to close out the year having gained traction in our commercialization efforts and, in particular, with this early validation of our strategy in the Security & Defense s ...

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Revenue Performance - Revenue for the three months ended September 30, 2025, was $241,000, representing a 26.8% increase compared to $190,000 in the same period of 2024[123] - Revenue for the nine months ended September 30, 2025, decreased to $985,000, a decline of 67.7% from $3,046,000 in the same period of 2024, primarily due to higher sales in 2024 driven by shipments to Daimler Truck North America[123][124] - Revenue for the nine months ended September 30, 2025, decreased to $985,000, down 67.7% from $3,046,000 in the same period of 2024, primarily due to lower sales of sensors to industrial customers[123] Cost and Expenses - Cost of revenue for the three months ended September 30, 2025, was $957,000, which is 397.1% of revenue, compared to $583,000 or 306.8% of revenue in the same period of 2024[125] - Research and development expenses for the three months ended September 30, 2025, were $7,978,000, an 8.7% decrease from $8,736,000 in the same period of 2024[127] - Sales, marketing, general and administrative expenses for the three months ended September 30, 2025, were $4,027,000, a 39.0% decrease from $6,599,000 in the same period of 2024[130] - Research and development expenses for the nine months ended September 30, 2025, totaled $23.0 million, down from $40.3 million in 2024, a decrease of $17.2 million (42.8%) [127] - Sales, marketing, general and administrative expenses for the three months ended September 30, 2025, were $4.0 million, down from $6.6 million in 2024, a decrease of $2.6 million (39.0%) [130] Financing and Cash Flow - Cash used in operating activities totaled $43.3 million for the nine months ended September 30, 2025, compared to $53.5 million in the same period of 2024, reflecting decreased operating expenses related to personnel[142] - As of September 30, 2025, the company had $72.8 million in cash and cash equivalents and $26.7 million in short-term investment securities, with approximately $46.2 million available under its existing $150.0 million ATM facility[141] - Net cash provided by financing activities was $67.8 million for the nine months ended September 30, 2025, compared to $26.2 million in the same period of 2024, driven by net proceeds from the issuance of common stock and warrants[144] - Cash used in operating activities during the nine months ended September 30, 2025, was $43.3 million, compared to $53.5 million in the same period of 2024, a decrease of $10.2 million[142] - Net cash provided by financing activities totaled $67.8 million during the nine months ended September 30, 2025, compared to $26.2 million in 2024, an increase of $41.6 million[144] Interest and Other Income - Interest expense for the three months ended September 30, 2025, increased to $(2,197,000) from $(21,000) in the same period of 2024, reflecting a significant rise of 10,361.9%[135] - Other income decreased by 56.0% to $140,000 for the three months ended September 30, 2025, compared to $318,000 in the same period of 2024, primarily due to decreased interest income[140] - Other income for the nine months ended September 30, 2025, decreased to $363,000 from $1.8 million in 2024, a decrease of $1.4 million (79.4%) [140] Strategic Acquisitions and Future Outlook - The company acquired strategic assets from Ibeo Automotive Systems GmbH in January 2023, enhancing its lidar technology offerings for automotive applications[116] - An Asset Purchase Agreement was entered into to acquire Scantinel Photonics GmbH, adding FMCW lidar technology to the product portfolio[118] - The company expects to continue incurring significant losses in the near term, having funded operations primarily through stock sales and convertible debt[121] - A workforce reduction of 41% in 2024 added approximately $6.0 million to fiscal year 2024 expenses but is expected to reduce future operating expenses[119] - The company is expanding its product portfolio through the acquisition of Scantinel Photonics GmbH, which will add FMCW lidar technology[118] - The company expects to make minimum payments of approximately $2.0 million to its contract manufacturing partner for MOVIA L sensor inventory during the remainder of 2025 and 2026[142] Unrealized Gains and Losses - The company recognized an unrealized gain of $1,059,000 on derivative liability for the three months ended September 30, 2025, due to a decrease in the fair value of the derivative liability[137] - The company incurred a realized loss of $4.654 million on debt extinguishment during the nine months ended September 30, 2025, due to debt modification[139] - Unrealized gain on derivative liability for the nine months ended September 30, 2025, was $3.9 million, reflecting a decrease in the fair value of the derivative liability[137] - The company recognized a loss on extinguishment of notes payable of $(4.7 million) during the nine months ended September 30, 2025[139]

Financial Performance - Revenue for Q3 2025 was $0.2 million, flat compared to $0.2 million for Q3 2024, comprised of sales to industrial customers[12] - Net loss for Q3 2025 was $14.2 million, or $0.05 per share, compared to a net loss of $15.5 million, or $0.07 per share for Q3 2024[12] - Revenue for the three months ended September 30, 2025, was $241 million, a 27% increase from $190 million in the same period of 2024[23] - Net loss for the three months ended September 30, 2025, was $14,217 million, compared to a net loss of $15,517 million in the same period of 2024[23] Operating Expenses - Total operating expenses for Q3 2025 were $12.0 million, relatively flat year over year compared to $15.3 million for Q3 2024[12] - Total operating expenses for the three months ended September 30, 2025, were $12,005 million, down from $15,313 million in 2024[23] Cash Flow and Liquidity - Cash used in operations in Q3 2025 was $16.5 million, compared to $14.1 million in Q3 2024[12] - The Company ended Q3 2025 with $99.5 million in cash and cash equivalents, compared to $74.7 million as of December 31, 2024[12] - Cash, cash equivalents, and restricted cash at the end of the period on September 30, 2025, was $74,534 million, significantly up from $18,365 million in 2024[25] - Net cash used in operating activities for the nine months ended September 30, 2025, was $43,315 million, an improvement from $53,484 million in 2024[25] - The company reported a net cash provided by financing activities of $67,758 million for the nine months ended September 30, 2025, compared to $26,155 million in 2024[25] Adjusted EBITDA - Adjusted EBITDA for Q3 2025 was a $11.7 million loss, flat compared to a $11.7 million loss for Q3 2024[12] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(33,620) million, compared to $(42,899) million in the same period of 2024[27] Research and Development - Research and development expenses for the nine months ended September 30, 2025, totaled $23,039 million, down from $40,251 million in 2024[23] Leadership and Strategic Initiatives - The Company appointed Glen DeVos as CEO to enhance automotive capabilities and drive market leadership in lidar technology[5] - The introduction of the next generation solid-state lidar sensor, MOVIA S, aims to provide a cost-effective short-range solution for various applications[5] - The Company executed an agreement to acquire Scantinel Photonics, enhancing its long-range FMCW lidar capabilities for commercial vehicles and passenger cars[5] Share Information - Weighted-average shares outstanding for the three months ended September 30, 2025, were 295,461 thousand, compared to 213,004 thousand in 2024[23]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported revenues of $0.2 million, driven by sales in industrial and automotive verticals [18] - The cash burn for the quarter was $16.5 million, including one-time payments related to inventory buildup of Movia L [19] - The company finished the quarter with $99.5 million in cash and cash equivalents, with additional availability under current facilities [21][22] Business Line Data and Key Metrics Changes - The Movia S product is positioned as a low-cost, high-performance sensor, with a target price of $200 for short-range and $300 for long-range applications [15][36] - The company is transitioning customers from Movia L to Movia S, which is expected to be transformational for industrial and warehouse automation markets [17] - The Movia S production launch is planned for Q4 of 2026, with demonstrations currently ongoing with various customers [10][12] Market Data and Key Metrics Changes - The company is experiencing strong interest in its Movia S and tri-lider architecture offerings post-IAA engagements [12] - The defense vertical is being actively pursued, with a new team in Virginia focused on drone-based LiDAR developments [18] - The company anticipates revenue from industrial applications in 2026, with automotive revenue expected to ramp up in 2029 [63] Company Strategy and Development Direction - The company aims to transform the LiDAR industry by moving to solid-state systems and simplifying sensor architecture [6][15] - A strategic investment in Scantinol Photonics is expected to enhance the company's ultra-long-range LiDAR capabilities [16] - The focus is on diversifying revenue streams through targeted investments and maintaining a strong capital structure [22] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for cost reduction in LiDAR sensors to achieve mass adoption, drawing parallels with the radar industry's evolution [6][7] - The company is confident in its ability to meet cost targets for its products, ensuring profitability while driving volume [55] - The management expressed optimism about the company's competitive positioning against Chinese LiDAR manufacturers through innovation and flexibility [52] Other Important Information - The company is actively managing production commitments with ZF as it prepares for Movia S manufacturing [17] - The leadership team has been strengthened with key hires in sales and engineering to support growth plans [14] - The company is committed to providing updates on the Scantinol acquisition and its impact on product offerings [20] Q&A Session Summary Question: What is the status of the RFQs? - The RFQs are ongoing, with the company following the pace of OEMs as they evaluate new features and systems [49][50] Question: How will the $200 price point be sustainable? - The company has a detailed cost model ensuring that the $200 price point is achievable without compromising margins [54][55] Question: How does the recent upheaval at Luminar affect opportunities with Volvo? - Supplier issues at Luminar may provide opportunities for the company to engage with Volvo for alternative sourcing [60][62] Question: When can revenue be expected from industrial and defense sectors? - Revenue from industrial applications is expected in 2026, while automotive revenue is anticipated to ramp up in 2029 [63] Question: How does Scantinol technology compare with existing products? - Scantinol's technology is complementary to existing products, with different strengths in range and application suitability [71][72]

Company Overview and Strategy - MicroVision is a leading provider of lidar hardware and software solutions for Automotive, Industrial, Smart Infrastructure, and Robotics markets[7] - The company focuses on high-margin software revenue and revenue-ready lidar products for Automotive and Industrial markets[7] - MicroVision has a strong CAGR potential driven by design RFQs and holds over 700 patents[7] - The company is focused on optimizing near-term applications in the ADAS value chain, particularly L2 and L3 automation[31] Product Portfolio - MicroVision offers MOVIA L, a lidar sensor for Industrial, Smart cities, and short-range automotive applications[8, 21] - MOVIA S is the next evolution of MOVIA L, with a smaller form factor for specific automotive applications[23] - MAVIN N is a MEMS-based lidar sensor with perception software for Auto OEMs and Tier 1s[9, 26] - PERCEPTION software processes data from lidar sensors to enable OEMs to achieve the best driving application[8, 29] Financial Performance - Q3 2024 revenue was $190 thousand[33] compared to $1047 thousand in Q3 2023[33], a decrease primarily due to a delayed order from a non-automotive customer[34] - Adjusted Gross Profit for Q3 2024 was $(32) thousand, resulting in a margin of (17%)[33] - Net cash used in operations in Q3 2024 was $141 million[35] - Total liquidity is $234 million, including $81 million in cash and cash equivalents, $123 million availability under the existing ATM facility, and $30 million availability under the Convertible Note[38]

Financial Performance - MicroVision reported a quarterly loss of five cents per share, which was better than the analyst estimate of a seven-cent loss [1] - Quarterly revenue was $241,000, falling short of the consensus estimate of $250,000 [1] Company Insights - The CEO of MicroVision, Glen DeVos, expressed enthusiasm about the company's recent momentum and energy, particularly in the past six weeks since taking on the role [2] - The company is experiencing high levels of external interest following the unveiling of its next-generation short-range sensor at the IAA Mobility event [2] - MicroVision aims to optimize the value of its perception systems for automotive OEMs by providing a cost-effective, integrated solution that disrupts traditional norms [2] Stock Performance - MicroVision's stock was down 0.03% at $1.07 during extended trading on Tuesday [3]

Core Insights - MicroVision, Inc. is set to release its third-quarter 2025 financial results on November 11, 2025, followed by a conference call and webcast for discussion [1] - Wall Street anticipates an earnings per share (EPS) of -$0.06, indicating ongoing profitability challenges for the company [2][6] - The projected revenue for the quarter is approximately $225,000, with a high price-to-sales ratio of about 124.63, suggesting strong investor interest despite financial difficulties [3][6] Financial Metrics - The company's price-to-earnings (P/E) ratio is around -3.04, reflecting its unprofitability [2] - MicroVision's enterprise value to sales ratio is approximately 115.67, indicating a premium on sales when accounting for debt and cash [4] - The enterprise value to operating cash flow ratio stands at around -5.34, highlighting challenges in generating positive cash flow from operations [4] - The debt-to-equity ratio is about 0.66, suggesting a moderate level of debt relative to equity [5] - The current ratio is approximately 2.41, indicating that the company has sufficient current assets to cover its current liabilities, providing some financial stability [5][6]

Core Insights - MicroVision, Inc. has announced an agreement to acquire Scantinel Photonics GmbH, focusing on FMCW lidar technology for commercial vehicles [1] Company Summary - The acquisition aims to enhance MicroVision's capabilities in advanced perception solutions, particularly in the autonomy and mobility sectors [1] - The collaboration with funding and strategic partners is intended to accelerate the productization and commercial opportunities of the acquired technology [1]

Earnings Reports Overview - The earnings season is slowing down, but several retail-favorite companies are set to report this week [1] - Key companies reporting include Barrick Mining Corp., Plug Power Inc., Oklo Inc., Cisco Systems Inc., Walt Disney Co., and Applied Materials Inc. [2][3][5][10][11] Company-Specific Insights - Barrick Mining Corp. reported its third-quarter results before the market opened on November 10 [2] - Plug Power Inc. is expected to report losses of 12 cents per share and revenue of $179.54 million, having missed earnings expectations for the last 18 quarters [3] - Oklo Inc. is anticipated to report losses of 13 cents per share and revenue of $17.01 billion, with stock volatility noted ahead of the report [5] - Cisco Systems Inc. is expected to be a focal point for investors, particularly regarding management's guidance and updates on AI and cybersecurity business momentum [10] - Walt Disney Co. and JD.com Inc. will release earnings reports before the market opens on November 13 [11] - Applied Materials Inc. is set to release its Q4 results after the market closes on November 13 [11] Additional Companies Reporting - Other companies reporting this week include Workhorse Group Inc., Beyond Meat Inc., Microvision Inc., and Virgin Galactic Holdings Inc. [4][6][12]