MicroVision Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong revenue growth, improved gross margins, and successful integration of major acquisitions, with diversified traction across industrial, defense, and automotive markets. Raised gross margin guidance and reiterated revenue outlook, with new product launches and expanded customer engagements expected to drive further growth.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.