MicroVision(MVIS)
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MicroVision(MVIS) - 2023 Q4 - Annual Results
2024-02-28 21:14
Exhibit 99.1 MicroVision Announces Fourth Quarter and Full Year 2023 Results REDMOND, WA / ACCESSWIRE / February 28, 2024 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced its fourth quarter and full year 2023 results. "We are very pleased with what our global team accomplished in 2023. We are now actively engaged in nine automotive RFQs, including some of the largest global OEMs, with a key focus on passenger vehicles with our MAVIN a ...
MicroVision(MVIS) - 2023 Q3 - Quarterly Report
2023-11-09 21:37
Revenue Growth - For the nine months ended September 30, 2023, revenue increased by 225.0% to $2.158 million compared to $664,000 in the same period of 2022, primarily driven by software sales and lidar sensor sales [112][113]. - Revenue for the nine months ended September 30, 2023, was $2.158 million, representing a 225.0% increase from $664,000 in the same period of 2022 [112]. - The increase in revenue for the nine months ended September 30, 2023, was predominantly due to software sales and contracts obtained from the acquisition of Ibeo assets [113]. Cost of Revenue - Cost of revenue for the three months ended September 30, 2023, was $625,000, representing 59.7% of revenue, compared to $45,000 (1,288.9% increase) in the same period of 2022 [114]. - Cost of revenue for the nine months ended September 30, 2023, was $1.870 million, an increase of 2,691.0% from $67,000 in the same period of 2022 [114]. Expenses - Research and development expenses for the three months ended September 30, 2023, rose to $15.584 million, a 106.8% increase from $7.535 million in the same period of 2022 [116][118]. - Research and development expenses for the nine months ended September 30, 2023, were $42.127 million, an increase of 84.5% from $22.828 million in the same period of 2022 [116]. - Sales, marketing, general and administrative expenses for the three months ended September 30, 2023, increased by 58.3% to $8.743 million compared to $5.522 million in the same period of 2022 [119][120]. - Sales, marketing, general and administrative expenses for the nine months ended September 30, 2023, were $27.172 million, a 53.8% increase from $17.664 million in the same period of 2022 [119]. Other Income - Other income for the three months ended September 30, 2023, was $637,000, a 153.8% increase from $251,000 in the same period of 2022, primarily due to a $3.0 million payment for lease termination [122]. - Other income increased by 153.8% to $637,000 for the three months ended September 30, 2023, and by 1,636.9% to $4.846 million for the nine months ended September 30, 2023, primarily due to a $3.0 million incentive payment [122]. Cash and Investments - As of September 30, 2023, the company had $49.4 million in cash and cash equivalents and $28.7 million in short-term investment securities [123]. - As of September 30, 2023, the company had approximately $30.6 million available under the $35.0 million ATM equity offering agreement initiated in August 2023 [130]. - The company anticipates sufficient cash and cash equivalents to fund operations for at least the next 12 months [124]. Cash Flow - Cash used in operating activities totaled $50.5 million during the nine months ended September 30, 2023, compared to $29.6 million in the same period of 2022, attributed to increased operating expenses [125]. - Net cash provided by investing activities was $21.4 million for the nine months ended September 30, 2023, compared to a net cash used of $31.0 million in the same period of 2022 [126]. - Net cash provided by financing activities totaled $60.8 million during the nine months ended September 30, 2023, a significant increase from $315,000 in the same period of 2022 [127]. Acquisitions and Future Payments - The company recorded a bargain purchase gain of $1.706 million during the nine months ended September 30, 2023, related to the acquisition of Ibeo assets [121]. - The acquisition of Ibeo assets involved payments totaling $11.2 million, with an expected final payment of approximately $2.9 million in Q4 2023 [126]. - The company expects to make additional payments totaling approximately $9.2 million to its contract manufacturing partner over the first six months of 2024 for MOVIA sensor inventory [125]. Financial Outlook - The company expects to incur a significant loss during the fiscal year ending December 31, 2023, continuing a trend of substantial losses since inception [109].
MicroVision(MVIS) - 2023 Q3 - Earnings Call Transcript
2023-11-09 01:12
MicroVision, Inc. (NASDAQ:MVIS) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Drew Markham - General Counsel Sumit Sharma - Chief Executive Officer Anubhav Verma - Chief Financial Officer Conference Call Participants Operator Good afternoon, and welcome to the MicroVision Third Quarter 2023 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now ...
MicroVision(MVIS) - 2023 Q3 - Earnings Call Presentation
2023-11-08 22:24
Company Overview - MicroVision is a leading provider of LiDAR hardware and software solutions for Automotive, Industrial, Smart Infrastructure, and Robotics markets[8] - The company has a comprehensive product portfolio including MAVIN, MOVIA, and MOSAIK[10] - MicroVision possesses a strong IP portfolio with 735 issued and pending patents[9, 21] Market Opportunity - The company is uniquely positioned in attractive markets with high growth rates, with a cumulative Total Addressable Market (TAM) of approximately $88 billion through 2030 in ADAS[16, 47] - The company is focused on optimizing near-term applications in the ADAS value chain, particularly L2 and L3 levels[32, 34] - Cumulative long-range LiDAR market size is ~$48.5 billion based on 97 million units at $500 ASP[43] - Cumulative short-range LiDAR market size is ~$39 billion based on 195 million units at $200 ASP[45] Financial Performance & Goals - Year-to-date Q3 2023 revenue was $2158 thousand[54] - Adjusted Gross Profit for YTD Q3 2023 was $1320 thousand, with a 61% margin[54] - $50.5 million cash was used in operating activities in YTD Q3 2023[50] - The company had $109 million in total liquidity as of September 30, 2023, including $78 million in cash and cash equivalents and $31 million availability under the current ATM facility[55]
MicroVision(MVIS) - 2023 Q2 - Quarterly Report
2023-08-09 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission file number 001-34170 MicroVision, Inc. (Exact name of registrant as specified in its charter) Delaware 91-1600822 (Stat ...
MicroVision(MVIS) - 2023 Q2 - Earnings Call Transcript
2023-08-08 23:38
MicroVision, Inc. (NASDAQ:MVIS) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Drew Markham - General Counsel Sumit Sharma - Chief Executive Officer Anubhav Verma - Chief Financial Officer Conference Call Participants Anand Balaji - Cantor Fitzgerald Operator Good afternoon, and welcome to the MicroVision Second Quarter 2023 Financial and Operating Results Conference call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note this even ...
MicroVision(MVIS) - 2023 Q2 - Earnings Call Presentation
2023-08-08 21:13
& MicroVision Investor Presentation August 2023 1 | © 2023 MicroVision, Inc. All rights reserved. Confidential and proprietary. Safe Harbor Statements This presentation of MicroVision, Inc. ("MicroVision," "the Company," "we," or "our"), and any accompanying oral presentation, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others: statements rel ...
MicroVision(MVIS) - 2023 Q1 - Quarterly Report
2023-05-10 21:22
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34170 MicroVision, Inc. (Exact name of registrant as specified in its charter) Delaware 91-1600822 (State or Other Jurisd ...
MicroVision(MVIS) - 2023 Q1 - Earnings Call Transcript
2023-05-10 00:43
MicroVision, Inc. (NASDAQ:MVIS) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Drew Markham - General Counsel Sumit Sharma - Chief Executive Officer Anubhav Verma - Chief Financial Officer Conference Call Participants Operator Good day, and welcome to the MicroVision First Quarter 2023 Financial and Operating Results Conference call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please also note that this event is being recorded. I would now ...
MicroVision(MVIS) - 2023 Q1 - Earnings Call Presentation
2023-05-09 22:47
& MicroVision 1 | © 2023 MicroVision, Inc. All rights reserved. Confidential and proprietary. This presentation of MicroVision, Inc. ("MicroVision," "the Company," "we," or "our"), and any accompanying oral presentation, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others: statements relating to expectations regarding our future growth, profit ...