MicroVision(US:MVIS)2023-11-08 22:24Company 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]