MicroVision Earnings Call Transcripts
Fiscal Year 2026
-
Lidar solutions are shifting to a software-centric, cost-optimized model, with a diversified portfolio targeting industrial, security/defense, and automotive markets. Revenue guidance for 2026 is $10–$15 million, with strong near-term growth in industrial and security/defense, and a robust pipeline of over 100 customer opportunities.
-
The meeting covered director elections, approval of share issuance, a reverse stock split, executive compensation, and auditor ratification. All proposals passed, and management emphasized strategic execution and ongoing shareholder communication.
-
Operational integration and acquisitions drove a 50% YoY revenue increase and gross margin expansion to 39% in Q1 2026. Full-year guidance is maintained, with improved cash burn and higher gross margin expectations, as commercial traction grows across all target sectors.
-
The discussion outlined the lidar industry's shift to scalable, value-driven solutions, with MicroVision leveraging acquisitions, a broad portfolio, and a design-to-cost approach to lead Lidar 2.0. Execution, customer engagement, and rapid cost reduction are central to their strategy.
Fiscal Year 2025
-
Revenue for 2025 declined year-over-year due to legacy contract completion, but recent acquisitions have expanded the product portfolio and accelerated customer engagement. 2026 revenue is guided at $10–$15 million, with industrial and defense segments driving near-term growth and automotive expected to scale later in the decade.
-
Q3 saw minimal revenue as the company focused on launching cost-effective lidar products and integrating Scantinel's FMCW technology. Strong cash reserves and new leadership support strategic investments, with major product launches and revenue growth expected from 2026 onward.
-
Q2 2025 saw increased OEM engagement, new industrial and defense opportunities, and a strong cash position with a $35M raise. Revenue was $0.15M, expenses down 44% year-over-year, and the company expects industrial revenues in H2 2025 and strategic defense partnerships.
-
Q1 revenue reached $0.6M, driven by industrial sales, with expenses down 45% year-over-year and a cash runway into 2026. Automotive progress is slow, but industrial and defense segments show strong near-term potential, targeting $30–$50M revenue in 12–18 months.
Fiscal Year 2024
-
Q4 revenue rose to $1.7M, driven by industrial sales, with strong liquidity and a $30M–$50M industrial revenue target for the next 12–18 months. Automotive RFQ timelines remain uncertain, but expanded defense and industrial focus, new leadership, and strategic investments position the company for growth.
-
Q3 revenue was $0.2M, below expectations due to delayed sensor deliveries, but liquidity stands at $234M after a strategic convertible note raise. Focus is on industrial LiDAR for near-term growth, with automotive RFQs ongoing and 2024 revenue expected at $8–$10M.
-
A fixed conversion price for the new convertible note aligns investor and shareholder interests, supporting a non-dilutive capital raise. 2024 revenue guidance is reaffirmed, with a focus on ramping industrial sales in 2025 and maintaining fiscal discipline. The company is prioritizing industrial LiDAR applications as a bridge to larger automotive opportunities.
-
Q2 revenue reached $1.9M, mainly from industrial customers, with a 39% adjusted gross margin and a reduced annual OpEx run rate of $55–60M. Seven automotive RFQs are ongoing, with decisions expected in H2 2024, while industrial segment revenues are forecast to begin in 2025.