Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenues of $600,000, primarily driven by sales in the industrial verticals [23] - R&D and SG&A expenses for Q1 2025 were $14.1 million, including $1.9 million in non-cash stock-based compensation and $1.4 million in non-cash depreciation and amortization, resulting in a reduction of 45% year-over-year [24][25] - The company finished the quarter with $69 million in cash and cash equivalents, with additional availability under various financing facilities [26] Business Line Data and Key Metrics Changes - The company is engaged in seven RFQs for automotive programs, but progress has been slow due to OEMs focusing on supply chain issues and global trade rebalancing [7][19] - In the industrial segment, the company has made progress with its Movia sensor integrated with onboard perception software, expecting commercial wins from ongoing evaluations [12][20] - The defense vertical is being expanded with a newly established defense advisory board to explore opportunities with the Department of Defense [14][22] Market Data and Key Metrics Changes - The automotive industry is experiencing delays in advanced ADAS rollout, with LiDAR integration at low volumes [7][19] - The industrial market shows momentum in AGV and AMR sectors, with companies embracing autonomy and AI [20] - The defense market presents multiple avenues for technology application, including drones and unmanned vehicles, which differ significantly from automotive applications [104] Company Strategy and Development Direction - The company aims to focus on custom development opportunities with OEMs in the automotive sector, while also expanding its presence in industrial and defense markets [11][22] - The strategy includes leveraging existing technology for partnerships in the defense sector, emphasizing rapid innovation through public-private partnerships [22] - The company plans to host an Investor Day to showcase technology offerings and engage with potential customers [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the industrial segment and the potential for significant revenue growth, projecting $30 million to $50 million in revenue over the next 12 to 18 months [28] - The company remains cautious about the automotive sector, expecting no substantial projects to be awarded in the near future [11] - Management highlighted the importance of a strong balance sheet and strategic partnerships to navigate the current market challenges [10][22] Other Important Information - The company has secured a production commitment with ZF in France, minimizing exposure to China tariffs and enhancing competitiveness [18] - The company is exploring strategic alliances in the defense sector but is currently focused on commercial agreements [57] Q&A Session Summary Question: Is this the first quarter with commercial sales? - The company confirmed that commercial sales were also present in the fourth quarter, indicating a continued effort in this area [32][33] Question: What is driving the potential revenue range of $30 million to $50 million? - The revenue is primarily driven by industrial automation activities and the deployment of ADAS solutions [35][36] Question: How many unique entities is the company working with? - The company is currently engaging with less than 10 unique customers in the industrial space [42] Question: What is the scope of military opportunities? - The company aims to be a technology partner for prime contractors in the military space, focusing on delivering integrated solutions rather than bidding for large contracts [44][45] Question: How does the company plan to compete with existing players in the industrial vertical? - The company plans to offer a complete solution that includes both hardware and software, aiming for lower price points through economies of scale [78][79] Question: What are the 2025 milestones to track? - Key milestones include signing commercial deals in the industrial space, engaging in pilot programs for new technologies, and establishing partnerships in the defense sector [89][90]

Revenue Performance - Revenue for the three months ended March 31, 2025, was $589,000, a decrease of $367,000 or 38.4% compared to $956,000 in the same period of 2024[112]. - Revenue for Q1 2025 was $589,000, a decrease of 38.4% from $956,000 in Q1 2024, primarily due to reduced shipments of MOVIA L sensors[112][113]. Cost of Revenue - Cost of revenue for the three months ended March 31, 2025, was $550,000, representing 93.4% of revenue, down from $1,277,000 or 133.6% of revenue in 2024, a decrease of $727,000 or 56.9%[114]. - Cost of revenue decreased to $550,000 in Q1 2025, representing 93.4% of revenue, compared to $1.277 million or 133.6% of revenue in Q1 2024, attributed to decreased revenue and revenue mix[114][115]. Expenses - Research and development expenses for the three months ended March 31, 2025, were $7,403,000, a decrease of $9,908,000 or 57.2% compared to $17,311,000 in 2024[116]. - Research and development expenses dropped to $7.403 million in Q1 2025, a 57.2% decrease from $17.311 million in Q1 2024, mainly due to lower salary and benefits expenses[116][118]. - Sales, marketing, general and administrative expenses for the three months ended March 31, 2025, were $6,676,000, a decrease of $2,402,000 or 26.5% from $9,078,000 in 2024[119]. - Sales, marketing, general and administrative expenses were $6.676 million in Q1 2025, down 26.5% from $9.078 million in Q1 2024, primarily due to reduced salary and benefits expenses[119][120]. Interest Expense - Interest expense for the three months ended March 31, 2025, was $(12,903,000), an increase of $12,885,000 or 71,583.3% compared to $(18,000) in 2024[121]. - Interest expense increased significantly to $(12.903) million in Q1 2025 from $(18) in Q1 2024, largely due to non-cash interest expenses related to warrants and notes payable[121]. Cash and Investments - As of March 31, 2025, the company had $51.9 million in cash and cash equivalents and $17.1 million in short-term investment securities[125]. - The company has approximately $113.4 million available under its existing $150.0 million ATM facility, which was established in the first quarter of 2024[125]. - As of March 31, 2025, the company reported an unrealized gain on derivative liability of $842,000 due to a decrease in the fair value of the derivative liability[122]. - The unrealized gain on warrant liability was $1,761,000 as of March 31, 2025, reflecting a decrease in the fair value of the warrant liability[123]. - The company recognized a realized loss on debt extinguishment of $4,654,000 during the three months ended March 31, 2025[124]. - Cash used in operating activities decreased to $14.1 million in Q1 2025 from $20.8 million in Q1 2024, primarily due to reduced operating expenses related to personnel[126]. - Net cash provided by investing activities was $3.1 million in Q1 2025, compared to a net cash used of $3.3 million in Q1 2024, with short-term investment securities purchased totaling $10.3 million and sold totaling $13.5 million[127]. - Cash provided by financing activities totaled $8.2 million in Q1 2025, down from $21.0 million in Q1 2024, with net proceeds from the issuance of common stock and warrants being $8.2 million in Q1 2025[128]. - The company has a remaining commitment of $30.0 million under its convertible note facility, subject to certain limitations[125]. Future Expectations - The company expects to continue incurring significant losses in the near term, having funded operations primarily through equity and convertible debt[110]. - The company expects to make minimum payments of approximately $2.6 million to its contract manufacturing partner for MOVIA sensor inventory production during 2025 and 2026[126]. - The company restructured its workforce in 2024, resulting in a 41% reduction, which added approximately $6.0 million to fiscal year 2024 expenses but is expected to extend its financial runway[107]. - In February 2025, the company entered into a securities purchase agreement for 5,750,225 shares of common stock and warrants, receiving net proceeds of $7.8 million[129].

Revenue Performance - Revenue for Q1 2025 was $0.6 million, a decrease of 40% compared to $1.0 million in Q1 2024, primarily driven by demand from industrial customers[7] - Adjusted Gross Profit for Q1 2025 was $256 thousand, significantly up from $66 thousand in Q1 2024, indicating a year-over-year increase of approximately 287.9%[32] Operating Expenses and Losses - Total operating expenses for Q1 2025 were $14.1 million, representing a 47% decline year-over-year from $26.4 million in Q1 2024[7] - Net loss for Q1 2025 was $28.8 million, or $0.12 per share, compared to a net loss of $26.3 million, or $0.13 per share, in Q1 2024[7] - For the three months ended March 31, 2025, the net loss was $28,779 thousand, compared to a net loss of $26,313 thousand for the same period in 2024, representing an increase in loss of approximately 9.4%[30] Cash Flow and Financing - Cash used in operations in Q1 2025 was $14.1 million, down from $20.8 million in Q1 2024[14] - The company raised $8 million in Q1 2025 through an equity sale, building on a $75 million convertible note facility established in Q4 2024[6] - Net cash provided by financing activities was $8,205 thousand in Q1 2025, compared to $21,018 thousand in Q1 2024, showing a decrease of about 60.9%[30] Cash Position - As of March 31, 2025, the company had access to $143.4 million in capital, including $113.4 million under its existing ATM facility[8] - The company ended Q1 2025 with $69.0 million in cash and cash equivalents, down from $74.7 million as of December 31, 2024[14] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $53,525 thousand, up from $46,337 thousand at the end of Q1 2024, marking an increase of approximately 15.5%[30] EBITDA and Financial Improvements - Adjusted EBITDA for Q1 2025 was a loss of $10.7 million, an improvement from a loss of $18.7 million in Q1 2024[14] - The company recorded an adjusted EBITDA of $(10,711) thousand for Q1 2025, an improvement from $(18,693) thousand in Q1 2024, indicating a reduction in losses of approximately 42.7%[32] - The company reported cash flows from operating activities of $(14,098) thousand for Q1 2025, an improvement from $(20,759) thousand in Q1 2024, reflecting a decrease in cash used of about 32.1%[30] Inventory and Expense Management - The company experienced a decrease in inventory by $(228) thousand in Q1 2025, compared to an increase of $102 thousand in Q1 2024, indicating a shift in inventory management strategy[30] - The company reported a share-based compensation expense of $1,921 thousand in Q1 2025, down from $3,743 thousand in Q1 2024, indicating a reduction of approximately 48.7%[32] Strategic Initiatives - The company is committed to high-volume deliveries in the range of $30-$50 million over the next 12-18 months due to a production commitment with ZF[4] - The company established a defense industry advisory board to pursue revenue opportunities in the defense tech and military sectors[6] Other Financial Metrics - The unrealized gain on derivative liability was $(842) thousand in Q1 2025, while there was no such gain in Q1 2024, reflecting a change in financial position[32] - The total cash flows from investing activities were $3,090 thousand in Q1 2025, contrasting with $(3,282) thousand in Q1 2024, representing a significant turnaround[30]

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $1.7 million, up from $0.5 million year-over-year, primarily driven by industrial vertical customers [43][44]. - The company experienced a cash burn that remains one of the lowest in the marketplace, with a cash balance of $75 million at year-end [39][48]. - The company has extended its cash runway into 2026 due to successful financing activities, including a $75 million convertible facility and a $17 million common equity transaction [39][40]. Business Line Data and Key Metrics Changes - The company focused on automotive OEM programs with seven RFQs and several custom development proposals, while also engaging in industrial opportunities such as automated guided vehicles (AGVs) and autonomous mobile robots (AMRs) [11][13]. - The revenue potential from industrial verticals is immediate and significant, with expectations for large-scale decisions in 2025 [19][34]. Market Data and Key Metrics Changes - The total addressable market (TAM) for industrial applications is lower than automotive but offers faster revenue realization from multi-year programs [18][34]. - The company is actively pursuing opportunities in the defense sector, anticipating increased defense spending under the current administration [22][36]. Company Strategy and Development Direction - The company aims to expand its product offerings in the industrial and defense sectors while maintaining a commitment to automotive applications [31][34]. - The new CTO, Glenn DeVoss, emphasizes the importance of integrating advanced software and hardware solutions for automotive and industrial markets [31][32]. Management's Comments on Operating Environment and Future Outlook - Management noted that automotive OEMs are adjusting their timelines for product launches, impacting the company's revenue generation from this sector [14][86]. - The company remains optimistic about its future, citing strong market positioning and a solid balance sheet as key factors for growth [42][55]. Other Important Information - The company has secured production commitments from its manufacturing partner, ZF, to meet anticipated demand in the industrial sector, estimating demand in the $30 to $50 million range over the next 12 to 18 months [54][80]. - The company has a well-experienced leadership team to execute its strategy, with a focus on operational excellence and cost management [37][55]. Q&A Session Summary Question: How much of the $1.7 million revenue was from commercial shipments versus R&D work? - The $1.7 million was primarily from sensor sales to multiple customers, with minimal non-recurring engineering (NRE) revenue expected to be pushed to 2025 [60][62]. Question: Are the defense opportunities related to ground-based or aerial objects? - The focus is on ground-based applications, with the company working with partners in the military space [65][66]. Question: What is the competitive nature of the commercial customers in Q4? - The company competes against several known players, but its unique capabilities and local presence provide a competitive edge [72][76]. Question: Can you clarify the $30 to $50 million demand from ZF? - This demand is expected over the next 12 to 18 months, with secured production commitments from ZF to ensure supply [80][81]. Question: What are the realistic timelines for RFQs converting into revenue? - The timelines for RFQs are elongating due to technical evaluations and churn within OEMs, making it difficult to predict when contracts will be awarded [86][88]. Question: How does MicroVision plan to compete with FMCW LiDAR technology? - The company focuses on its unique technology and partnerships, emphasizing the importance of delivering integrated solutions for OEMs [135][136].

Revenue and Income - Revenue for the year ended December 31, 2024, was $4.7 million, a decrease of $2.6 million or 35.3% compared to $7.3 million in 2023[160]. - Other income decreased by $3.156 million, or 56.5%, from $5.590 million in 2023 to $2.434 million in 2024, primarily due to a one-time payment received in 2023[172]. Expenses - Cost of revenue increased to $7.5 million in 2024, representing 160.3% of revenue, compared to $2.8 million or 38.2% of revenue in 2023, a change of $4.8 million or 171.6%[162]. - Research and development expenses decreased to $49.0 million in 2024, down $7.7 million or 13.6% from $56.7 million in 2023[164]. - Sales, marketing, general and administrative expenses were $29.3 million in 2024, a decrease of $7.3 million or 20.0% from $36.7 million in 2023[166]. - An impairment loss on intangible assets of $4.2 million was recorded in 2024, with no impairment loss reported in 2023[168]. - Interest expense increased significantly to $(4.5) million in 2024, compared to $(80) thousand in 2023, reflecting a change of $4.4 million or 5,471.3%[170]. - Unrealized loss on derivative liability was $(8.9) million in 2024, with no unrealized loss reported in 2023[171]. - Tax expense for 2024 was $0.5 million, down from $1.1 million in 2023, largely due to lower profitability in foreign jurisdictions; net operating loss carryforwards stood at approximately $498.0 million[173]. Cash Flow and Liquidity - As of December 31, 2024, the company had total liquidity of $226.1 million, including $54.5 million in cash and cash equivalents and $20.2 million in short-term investment securities[175]. - Cash used in operating activities increased to $68.5 million in 2024 from $67.1 million in 2023, with expected additional payments of approximately $6.3 million to a manufacturing partner in 2025 and 2026[176]. - Cash provided by investing activities was $2.7 million in 2024, a significant decrease from $21.8 million in 2023, with short-term investment securities purchases totaling $26.1 million[177]. - Net cash provided by financing activities was $72.9 million in 2024, slightly up from $72.4 million in 2023, with net proceeds from common stock issuance at $34.7 million[179]. - The company has approximately $113.6 million available under its existing $150.0 million ATM facility as of December 2024[178]. - The company entered into a Securities Purchase Agreement for $45.0 million in senior secured convertible notes, receiving net proceeds of $38.1 million[182]. - The company anticipates sufficient cash and cash equivalents to fund operations for at least the next 12 months based on its current operating plan[175]. Future Outlook - The company expects to incur significant losses during the fiscal year ending December 31, 2025, following substantial losses since inception[152]. - The company recognizes that its capital requirements will remain high as it expands activities and operations to commercialize its technology[181]. - The company is focused on developing perception solutions for autonomy and mobility applications, including advanced driver-assistance systems (ADAS)[150].

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $1.7 million, up from $0.5 million year-over-year, primarily driven by industrial vertical customers [26][27] - The company experienced a cash burn that remains one of the lowest in the marketplace, with a cash balance of $75 million at year-end [24][29] - The company has extended its cash runway into 2026 due to successful financing activities, including a $90 million investment from a strategic partner [24][30] Business Line Data and Key Metrics Changes - The company is focusing on automotive OEM programs with seven RFQs and several custom development proposals, while also engaging in industrial opportunities such as Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) [6][8][10] - The total addressable market (TAM) for industrial applications is lower than automotive, but the company expects faster revenue realization from multi-year programs [11][12] Market Data and Key Metrics Changes - The company noted that automotive OEMs are adjusting their product launch timelines, which has affected revenue expectations [9][21] - The company is actively pursuing opportunities in the defense sector, anticipating increased defense spending under the current administration [14][22] Company Strategy and Development Direction - The company aims to expand its focus on near-term revenue opportunities in industrial and defense sectors while continuing to engage with automotive OEMs [21][24] - The new CTO, Glenn De Vos, emphasizes the importance of delivering a complete perception system and advanced features suitable for various markets, including automotive and defense [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the potential for significant revenue growth in industrial and defense sectors [24][32] - The company acknowledges the challenges posed by delays in automotive RFQs but remains engaged with customers to navigate these changes [55][56] Other Important Information - The company has secured production commitments from its manufacturing partner, ZedF, to meet anticipated demand in the next 12 to 18 months, estimating demand between $30 million to $50 million [31][50] - The company is exploring strategic opportunities for growth through potential acquisitions in complementary technologies [66] Q&A Session Summary Question: How much of the $1.7 million revenue in Q4 was from commercial shipments versus R&D work? - The $1.7 million was primarily from sensor sales to multiple customers, with minimal NRE expected to be pushed to 2025 [34][35] Question: Are the defense opportunities related to ground-based or aerial objects? - The focus is on ground-based applications, with the company looking to leverage its existing technology for military programs [38][39] Question: What factors delayed the signing of the industrial deal? - The qualification process for industrial customers takes longer due to the complexity of integrating new technology into existing systems [70][72] Question: How does MicroVision plan to compete with FMCW LiDAR technology? - The company believes that while FMCW technology has its advantages, the cost and integration challenges will limit its widespread adoption compared to time-of-flight systems [88][90]

Revenue Performance - Revenue for Q4 2024 was $1.7 million, down from $5.1 million in Q4 2023, with a notable one-time revenue of $4.6 million from Microsoft in Q4 2023 excluded[5] - Revenue for the three months ended December 31, 2024, was $1,650 million, compared to $5,101 million for the same period in 2023, representing a decrease of 67.7%[23] Net Loss and Earnings - Net loss for Q4 2024 was $31.2 million, or $0.14 per share, compared to a net loss of $19.7 million, or $0.10 per share, in Q4 2023[12] - Net loss for the twelve months ended December 31, 2024, was $96,915 million, an increase from a net loss of $82,842 million in 2023, reflecting a 17% increase in losses[25] - Adjusted EBITDA for Q4 2024 was a loss of $13.2 million, compared to a loss of $13.6 million in Q4 2023[12] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $(56,288) million, compared to $(61,479) million in 2023, showing an improvement of 8.5%[28] Cash Flow and Liquidity - Cash used in operations in Q4 2024 was $15.0 million, an improvement from $16.6 million in Q4 2023[12] - The company ended Q4 2024 with $74.7 million in cash and cash equivalents, slightly up from $73.8 million at the end of 2023[12] - Cash, cash equivalents, and restricted cash at the end of the period on December 31, 2024, totaled $56,247 million, up from $49,391 million at the end of 2023, representing a 14.5% increase[25] - Net cash used in operating activities for the twelve months ended December 31, 2024, was $(68,540) million, slightly higher than $(67,090) million in 2023, indicating a 2.2% increase in cash outflow[25] Assets and Equity - Total assets decreased to $121.2 million in Q4 2024 from $129.6 million in Q4 2023[21] - Shareholders' equity decreased to $48.8 million in Q4 2024 from $95.8 million in Q4 2023, reflecting an accumulated deficit of $862.3 million[21] Expenses - Total operating expenses for the twelve months ended December 31, 2024, were $82,685 million, down from $93,362 million in 2023, indicating a reduction of 11.5%[23] - Research and development expenses for the twelve months ended December 31, 2024, were $49,015 million, compared to $56,707 million in 2023, a decrease of 13.6%[23] Other Financial Metrics - The company reported a gross loss of $(2,466) million for the three months ended December 31, 2024, compared to a gross profit of $4,199 million for the same period in 2023[28] - The weighted-average shares outstanding for the twelve months ended December 31, 2024, were 209,510 million, compared to 182,802 million in 2023, an increase of 14.6%[23] - The company incurred an impairment loss on intangible assets of $4,181 million for the twelve months ended December 31, 2024, with no such loss reported in 2023[23] Future Revenue Expectations - A production commitment with ZF is expected to generate revenue in the range of $30-$50 million over the next 12-18 months, primarily from the AMR/AGV vertical[4] - The company is actively engaged with seven high-volume RFQs for passenger vehicles and custom development opportunities with top-tier global automotive OEMs[6] Financing Activities - The company has secured a $75 million convertible note facility and raised an additional $8 million in Q1 2025 through an equity sale[6]

Company Overview - MicroVision Inc (MVIS) has a Buy rating with a price forecast of $3.00 by analyst Jesse Sobelson from D. Boral Capital [1] - The company is set to release its fourth-quarter earnings on March 26, 2025 [1] Management Changes - Glen DeVos has been appointed as the new Chief Technology Officer (CTO), bringing extensive experience from the automotive and industrial sectors [1][2] Financial Performance - MVIS raised $38 million in net proceeds from a convertible transaction in October, increasing its pro forma cash balance to approximately $81 million [2] - The total liquidity now stands at $234 million, but a non-cash expense of $10 million to $15 million is expected in the fourth quarter, adjusting the GAAP EPS forecast from a loss of $0.10 to a loss of $0.17 per share [3] Shareholder Actions - In February 2025, a $45 million convertible debt holder converted $12.25 million into 11.7 million shares, and the company sold an additional 5.6 million shares for $8 million, resulting in a total of 22.3 million new shares [4] - The total shares outstanding have increased to 226.8 million [4] Future Outlook - Despite a decline in the fourth EPS estimate, the focus remains on growth in the industrial and automotive segments, with expectations of eventual profitability [5] - The price forecast is based on a 10-year DCF and relative valuation model, reflecting 4x the FY26 sales estimate [5]

Q3 2024 Business update Nov 7, 2024 Safe mobility at the speed of life Safe Harbor Statements This presentation of MicroVision, Inc. ("MicroVision," "the Company," "we," or "our"), and any accompanying oral presentation, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include, among others: statements relating to expectations regarding our future growth, profit ...

Financial Data and Key Metrics Changes - The company reported revenue of $0.2 million for Q3 2024, which was lower than expectations due to a delay in sensor delivery from an existing customer [16] - Operating expenses (OpEx) for Q3 were approximately $15 million, including $2.4 million in non-cash stock-based compensation and $1.4 million in depreciation and amortization [17] - Cash used in operating activities decreased by 25% quarter-over-quarter, aligning with expectations [17] - The company has a total liquidity of $234 million, comprising $81 million in cash, $122.6 million available under its ATM facility, and $30 million in convertible note commitments [19][20] Business Line Data and Key Metrics Changes - The industrial segment is seen as a strong opportunity for establishing annual recurring revenue (ARR) streams, with multiple potential customers in various tranches [6][8] - The company is engaged in seven RFQs with automotive OEMs for passenger vehicles, focusing on integrated hardware and software solutions [9] Market Data and Key Metrics Changes - The company expects ASPs for industrial applications to be in the $1,000 to $2,000 range, driven by software offerings [24] - The anticipated unit TAM for 2025 is estimated to be between 10,000 to 30,000 units [24] Company Strategy and Development Direction - The company aims to diversify revenue streams by pursuing significant partnerships in non-automotive industrial channels while waiting for automotive production revenues to ramp up later in the decade [11][48] - The strategy includes scaling down some ASIC programs and focusing on industrial revenue to improve cash flow break-even timelines [17][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve cash flow break-even faster than peers due to a strong balance sheet and low cash burn rate [21] - The company is optimistic about 2025 and beyond, with expected revenue from LIDAR sensors and NRE projects [21] Other Important Information - The company has secured a two-year $75 million fixed convertible note facility, with the first tranche of $45 million funded at a closing price of $1.33 [13] - The new annual OpEx run rate is expected to be between $48 million and $50 million for 2025 [20] Q&A Session Summary Question: Do ASPs need to change to get the market moving? - Management believes ASPs will be in the $1,000 to $2,000 range, driven by software offerings [24] Question: What is the reasonable unit TAM for 2025? - The estimated range is between 10,000 to 30,000 units [24] Question: What is the pacing of revenues from non-automotive opportunities? - Management indicated a potential ramp in revenue recognition dependent on customer deployment timelines [27] Question: How many players are there in the non-automotive market? - There are multiple potential customers across different tranches, with varying volumes [30] Question: What is the current production capacity? - The current capacity is approximately 45,000 units per year, with the ability to ramp up production if needed [33] Question: What are the main use cases for MicroVision's products in industrial applications? - The products address safety and efficiency issues in environments like warehouses and agriculture [39] Question: How does MicroVision balance pursuing automotive contracts with generating near-term revenue? - The company is focused on industrial applications to reduce cash burn while pursuing automotive opportunities [48] Question: What is the strategy for navigating the Tier 1 supplier landscape? - The company is open to collaborating with Tier 1 suppliers as directed by OEMs, while focusing on providing competitive solutions [50]