MicroVision, Inc. (NASDAQ:MVIS) Q4 2021 Earnings Conference Call February 24, 2022 5:00 PM ET Company Participants Drew Markham - VP, Secretary & General Counsel Sumit Sharma - CEO & Director Anubhav Verma - VP, CFO & Treasurer Conference Call Participants Andres Sheppard - Cantor Fitzgerald & Co. Operator Good day, everyone, and welcome to the MicroVision Fourth Quarter and Full Year 2021 Financial and Operating Results Conference Call. [Operator Instructions]. At this time, I'd like to turn the conference ...

MicroVision, Inc. (NASDAQ:MVIS) Investment Community Webcast and Press Conference January 5, 2022 5:00 PM ET Company Participants Sumit Sharma - Chief Executive Officer Anubhav Verma - Chief Financial Officer Drew Markham - General Counsel Sumit Sharma Welcome to 2022, and our first ever virtual CES. I hope everyone remains safe through these unique times. I'm excited to be here today and share our big plans and how this will change our trajectory as a company. I'm excited for us to start unlocking busines ...

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 September 30, 2021 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 Ju ...

Financial Data and Key Metrics Changes - Revenue for Q3 2021 was $718,000, a slight decrease from $746,000 in Q2 2021, with all revenue attributed to royalty income from an augmented reality customer [25][26] - Gross profit for Q3 was $728,000, down from $777,000 in the previous quarter [27] - Operating expenses were $10.8 million, lower than the guidance of $14 million to $16 million and down from $15.7 million in Q2 [28] - Net loss for Q3 was $9.4 million, or $0.06 per share, compared to a net loss of $15 million, or $0.09 per share in Q2 [31] - Cash and equivalents at the end of Q3 were $125.1 million, down from $135.3 million at the end of Q2 [34] Business Line Data and Key Metrics Changes - The company is focusing on the OEM automotive lidar sensor market, which is expected to provide significant recurring revenue opportunities [10][17] - The introduction of the LiDAR sensor at the IAA Munich mobility show was highlighted as a key product showcase [9] Market Data and Key Metrics Changes - The company anticipates that OEMs will make partnership decisions within the next 16 months, with a larger rollout of electric vehicles expected in 2026 [12][20] - The demand for lidar technology is increasing as more OEMs incorporate it into their ADAS systems [71] Company Strategy and Development Direction - The company is prioritizing strategic sales to OEMs over direct sales, with plans to demonstrate an integrated software and hardware ADAS solution by June 2022 [16][17] - The focus on OEM partnerships is seen as critical for long-term success in the automotive market [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's competitive position and the positive feedback received from OEMs regarding their lidar technology [12][42] - The company is preparing for a significant amount of consolidation in the ADAS space, with expectations of recurring revenue not materializing until 2025 and beyond [20] Other Important Information - The company announced a new CFO, Anubhav Verma, who will join on November 15, 2021, following the retirement of Steve Holt [21][22] - The company signed a lease for new office and testing space, indicating plans for expansion [36] Q&A Session Summary Question: Thoughts on Facebook's rebranding to Meta and its impact on AR investments - Management noted that significant investments in AR by large companies like Meta could spur further investment in the AR space [48][50] Question: Focus on OEM versus direct sales - Management acknowledged that while direct sales may provide incidental revenue, the focus will remain on securing OEM partnerships for long-term value [52][56] Question: Trends in lidar adoption among OEMs - Management confirmed that there is a growing trend among OEMs to adopt lidar technology, especially for higher-level ADAS features [70][72] Question: MicroVision's lidar sensor advantages - Management emphasized that their lidar technology is best-in-class due to cost, size, features, and technological maturity [88][92][102] Question: Employee morale and turnover - Management reported that employee morale is good and turnover has not been a significant issue [110] Question: Use of ATM and cash management - Management indicated that while they have not utilized the ATM recently, maintaining a strong balance sheet is important for long-term partnerships [112]

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 June 30, 2021 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 Jurisdi ...

MicroVision, Inc. (NASDAQ:MVIS) Q2 2021 Earnings Conference Call August 4, 2021 5:00 PM ET Company Participants Lindsey Stibbard - Paralegal at MicroVision Sumit Sharma - Chief Executive Officer Steve Holt - Chief Financial Officer Conference Call Participants Glenn Mattson – Ladenburg Thalmann & Co. Richard Shannon – Craig-Hallum Capital Group Ty Bordner – Private Investor Mike Wolken – Private Investor Operator Welcome to the MicroVision Second Quarter 2021 Financial and Operating Results Conference Call. ...

MicroVision, Inc. (NASDAQ:MVIS) Q1 2021 Earnings Conference Call April 29, 2021 5:00 PM ET Company Participants Lindsey Stibbard - IR Sumit Sharma - Chief Executive Officer Steve Holt - Chief Financial Officer Conference Call Participants Glenn Mattson - Ladenburg Thalmann & Co. Inc. Kevin Dede - H.C. Wainwright & Co, LLC Ty Bordner - Private Investor Jim Groninger - Private Investor Adam Jones - Private Investor Geo Rule - Private Investor Geoff Porter - Private Investor Operator Welcome to the MicroVision ...

```markdown PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited Q1 2021 financial statements detail increased cash and equity from stock offerings, a revenue shift to royalties, and a wider net loss [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) As of March 31, 2021, the company's financial position strengthened significantly compared to December 31, 2020, with total assets increasing to $79.6 million, primarily driven by a substantial rise in cash and cash equivalents to $75.3 million, leading to a surge in total shareholders' equity from $9.0 million to $68.0 million Condensed Balance Sheet Highlights (in thousands) | Account | March 31, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $75,338 | $16,862 | +$58,476 | | Total current assets | $75,903 | $17,560 | +$58,343 | | **Total assets** | **$79,611** | **$21,006** | **+$58,605** | | **Liabilities & Equity** | | | | | Total current liabilities | $10,101 | $10,028 | +$73 | | Total liabilities | $11,650 | $11,997 | -$347 | | **Total shareholders' equity** | **$67,961** | **$9,009** | **+$58,952** | | **Total liabilities and shareholders' equity** | **$79,611** | **$21,006** | **+$58,605** | [Condensed Statements of Operations](index=5&type=section&id=Condensed%20Statements%20of%20Operations) For the three months ended March 31, 2021, MicroVision reported total revenue of $0.48 million, a significant decrease from $1.47 million in the same period of 2020 due to the cessation of product sales and a shift to royalties, resulting in a wider net loss of $6.2 million from $4.9 million year-over-year Q1 2021 vs Q1 2020 Statement of Operations (in thousands, except per share data) | Metric | Q1 2021 | Q1 2020 | Change | | :--- | :--- | :--- | :--- | | Total revenue | $479 | $1,469 | -67.4% | | Gross profit | $484 | $70 | +591.4% | | Research and development expense | $4,462 | $3,683 | +21.2% | | Sales, marketing, general and administrative expense | $2,247 | $1,771 | +26.9% | | Loss from operations | $(6,225) | $(4,934) | +26.2% | | **Net loss** | **$(6,231)** | **$(4,934)** | **+26.3%** | | **Net loss per share** | **$(0.04)** | **$(0.04)** | **0.0%** | [Condensed Statements of Shareholders' Equity (Deficit)](index=6&type=section&id=Condensed%20Statements%20of%20Shareholders'%20Equity%20(Deficit)) Shareholders' equity increased dramatically from $9.0 million at the start of 2021 to $68.0 million by March 31, 2021, primarily driven by $61.5 million in proceeds from common stock sales, partially offset by a net loss of $6.2 million - Sales of common stock generated **$61.5 million** in cash during Q1 2021, significantly boosting shareholders' equity[17](index=17&type=chunk) - Share-based compensation expense for Q1 2021 was **$1.6 million**[17](index=17&type=chunk) [Condensed Statements of Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) For the first quarter of 2021, net cash used in operating activities improved to $4.5 million, while financing activities provided $63.6 million, primarily from common stock issuance, resulting in a net increase in cash of $58.5 million and a total cash balance of $75.8 million Q1 2021 vs Q1 2020 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,531) | $(5,437) | | Net cash provided by (used in) investing activities | $(565) | $450 | | Net cash provided by financing activities | $63,572 | $1,475 | | **Change in cash, cash equivalents, and restricted cash** | **$58,476** | **$(3,512)** | | **Cash, cash equivalents, and restricted cash at end of period** | **$75,773** | **$2,760** | - Net proceeds from the issuance of common stock were **$57.4 million** in Q1 2021, compared to only **$1.5 million** in Q1 2020[20](index=20&type=chunk) [Notes to Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) The notes detail accounting policies, strategic focus on developing its **1st Generation Long Range Lidar (LRL) module**, ongoing pursuit of strategic alternatives, confirmation of sufficient cash for at least the next 12 months, and the fact that **100%** of Q1 2021 revenue came from a single customer - The company is focused on completing the development of its **1st Generation Long Range Lidar (LRL) module**[23](index=23&type=chunk) - Since February 2020, the company has been seeking strategic alternatives, including a potential sale or merger[24](index=24&type=chunk) - As of March 31, 2021, the company had **$75.3 million** in cash and cash equivalents and believes it has sufficient funds for at least the next 12 months[26](index=26&type=chunk) - In Q1 2021, one customer accounted for **100%** of total revenue (**$479,000**); this was also the case in Q1 2020, where one customer accounted for **100%** of revenue (**$1.5 million**)[42](index=42&type=chunk) - In February 2021, the company completed a **$50.0 million** **ATM equity offering**, issuing **2.5 million shares** for net proceeds of **$48.8 million**[54](index=54&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strategic shift to automotive lidar, revenue decline from royalty transition, increased expenses, and strong liquidity from stock offerings - The company's primary focus is now on developing a Long Range Lidar (LRL) sensor for automotive applications, with an **A-Sample** completed in April 2021[62](index=62&type=chunk)[63](index=63&type=chunk) - The company is simultaneously pursuing strategic alternatives, including a potential sale, merger, or strategic investment, but has no current agreements[66](index=66&type=chunk) - The company believes it has sufficient cash (**$75.3 million** at March 31, 2021) to fund operations for at least the next 12 months, but may require additional capital thereafter[91](index=91&type=chunk)[92](index=92&type=chunk) - Financing activities in Q1 2021 were dominated by **ATM equity offerings**, including a **$50.0 million** facility that yielded **$48.8 million** in net proceeds[96](index=96&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=20&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that its exposure to market risk, specifically interest rate risk and foreign exchange rate risk, is not material, as its cash and cash equivalents are held in variable interest rate accounts and major contracts are in U.S. dollars - The company believes its exposure to market and interest rate risk is not material, as all cash and cash equivalents have variable interest rates[99](index=99&type=chunk) - Foreign exchange rate risk is considered not material as major contracts are in U.S. dollars, though the company may enter into foreign currency purchase orders[101](index=101&type=chunk) [Item 4. Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the Principal Executive Officer and Principal Financial Officer, concluded that the company's disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal control over financial reporting during the quarter - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures are effective as of the end of the reporting period[102](index=102&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, these controls[102](index=102&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is subject to various claims and lawsuits in the normal course of business but is not currently a party to any legal proceedings that management believes could have a material adverse effect on its financial position, results of operations, or cash flows - The company is not currently party to any legal proceedings expected to have a material adverse effect on its financials[105](index=105&type=chunk) [Item 1A. Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) Key risks include substantial losses, future capital needs, uncertain strategic alternatives, COVID-19 impacts, single customer reliance, and stock volatility - The company has a history of substantial losses, with an accumulated deficit of **$592.5 million** as of March 31, 2021, and expects to incur significant losses in the future[107](index=107&type=chunk)[112](index=112&type=chunk) - The company may require additional capital to fund operations beyond the next 12 months, and there is no assurance it will be available on acceptable terms[113](index=113&type=chunk) - The company's stock price has been and may continue to be extremely volatile, trading between **$0.15** and **$27.80** in the 12 months prior to the report[132](index=132&type=chunk) - The company is dependent on a small number of customers, with a single customer accounting for **100%** of revenue in Q1 2021 and Q1 2020[126](index=126&type=chunk) - The COVID-19 pandemic has had an adverse effect and its future impact on capital raising, technology development, and strategic transactions remains uncertain[111](index=111&type=chunk)[119](index=119&type=chunk) [Item 6. Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q report, including certifications from the Principal Executive Officer and Principal Financial Officer as required by the **Sarbanes-Oxley Act of 2002**, as well as **XBRL Interactive Data Files** - Lists certifications by the Principal Executive Officer and Principal Financial Officer pursuant to **Sarbanes-Oxley Act Sections 302 and 906**[161](index=161&type=chunk) - Includes **XBRL data files** (Instance, Schema, Calculation, Definition, Label, and Presentation documents) as exhibits[161](index=161&type=chunk) Signatures The report is duly signed and authorized on April 29, 2021, by Sumit Sharma, the Chief Executive Officer, and Stephen P. Holt, the Chief Financial Officer - The report was signed on **April 29, 2021**, by Sumit Sharma (Chief Executive Officer) and Stephen P. Holt (Chief Financial Officer)[164](index=164&type=chunk) ```

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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) (State or Other Jurisdiction of ...

MicroVision, Inc. (NASDAQ:MVIS) Q4 2020 Earnings Conference Call March 11, 2021 5:00 PM ET Company Participants Lindsey Stibbard Sumit Sharma - Chief Executive Officer Steve Holt - Chief Financial Officer Conference Call Participants Glenn Mattson - Ladenburg Thalmann Kevin Dede - H.C. Wainwright Operator Good afternoon, and welcome to the MicroVision Fourth Quarter and Full Year 2020 Financial and Operating Results Call. All participants will be in listen-only mode [Operator Instructions] Please note this ...