Core Insights - MicroVision, Inc. has announced commercial momentum in the Industrial and Security & Defense sectors with an initial order for MOVIA L sensors with integrated software [1][2] Group 1: Commercialization Efforts - The company has gained traction in its commercialization efforts, particularly in the Security & Defense sector, highlighting the immediate value of its MOVIA L sensor in mission-critical systems [2] - The MOVIA L sensor is designed to protect lives on the battlefield and cargo in industrial transport settings, showcasing its versatility [2] Group 2: Product Features and Production Capacity - The MOVIA L sensor is characterized by its light weight, low power consumption, and rugged reliability, making it suitable for harsh environments [3] - Increased production capacity for MOVIA L in 2025 allows the company to offer high-quality, automotive-grade sensors at competitive costs, providing immediate value to customers [3] Group 3: Future Developments - The company plans to launch its next-generation MOVIA S production in Q4 of 2026, indicating ongoing innovation and product development [3] Group 4: Company Overview - MicroVision is focused on driving the global adoption of innovative perception solutions aimed at enhancing safety and automation across various industrial applications, including robotics and agriculture [4] - The company's core technology, initially developed for the automotive industry, continues to support advanced driver-assistance systems (ADAS) and autonomous driving [4]

Group 1 - The article does not provide any specific content related to a company or industry [1]

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]

Core Insights - MicroVision, Inc. is expanding into the defense technology sector by establishing a new Aerial Systems team and facilities in the greater D.C. area [1] Company Developments - The new Aerial Systems team has set up an office, testing facilities, and an airstrip to support its strategic expansion [1] - This move aims to enhance MicroVision's capabilities in the intelligence, surveillance, and reconnaissance (ISR) sector [1]