MicroVision(MVIS)

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MicroVision(MVIS) - 2024 Q1 - Earnings Call Presentation
2024-05-09 20:37
& MicroVision 1 | © 2024 MicroVision, Inc. All rights reserved. Confidential and proprietary. In addition to financial measures presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation includes certain non-GAAP financial measures, including Adjusted Gross Profit and percent margin. These non-GAAP measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The nonGAAP financial measure ...
MicroVision(MVIS) - 2024 Q1 - Quarterly Results
2024-05-09 20:23
Exhibit 99.1 MicroVision Announces First Quarter 2024 Results Key Financial Highlights for Q1 2024 Conference Call and Webcast: Q1 2024 Results MicroVision will host a conference call and webcast, consisting of prepared remarks by management, a slide presentation, and a question-and-answer session at 1:30 PM PT/4:30 PM ET on Thursday, May 9, 2024 to discuss the financial results and provide a business update. Analysts and investors may pose questions to management during the live webcast on May 9, 2024. ● A ...
MicroVision(MVIS) - 2023 Q4 - Annual Report
2024-02-29 21:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-34170 MicroVision, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of ...
MicroVision(MVIS) - 2023 Q4 - Earnings Call Presentation
2024-02-29 01:17
2 | © 2023 MicroVision, Inc. All rights reserved. Confidential and proprietary. MicroVision: A Leading Provider of LiDAR Solutions Uniquely Positioned to be a Trusted LiDAR Solutions Provider Across End Markets Comprehensive Product Portfolio ▪ Leading provider of LiDAR hardware and software solutions to the Automotive, Industrial, Smart Infrastructure and Robotics markets ▪ Compelling high-margin software revenue plus revenue-ready LiDAR products for Automotive and Industrial markets ▪ Strong CAGR potentia ...
MicroVision(MVIS) - 2023 Q4 - Earnings Call Transcript
2024-02-29 01:17
Financial Data and Key Metrics Changes - Revenue for Q4 2023 was reported at $5.1 million, leading to a full-year revenue of $7.3 million, which was within the revised guidance range of $6.5 million to $8 million [67][68] - The company achieved a 90% adjusted gross margin in Q4 2023 and an 80% gross margin on an adjusted basis for FY 2023, significantly differentiating itself from peers with negative or near-zero margins [39][70] - Liquidity as of December 31, 2023, was $93 million, consisting of $74 million in cash and cash equivalents and $19 million in ATM availability, providing a financial runway of approximately 1.4 years [11][94] Business Line Data and Key Metrics Changes - The company is focusing on high-volume nomination projects rather than low-volume engineering services, aiming for projects that involve millions of units to achieve profitability [2][24] - The MOVIA-S product is highlighted as a key opportunity, with each vehicle potentially requiring three to five sensors for advanced driving features [53][59] Market Data and Key Metrics Changes - The demand for LiDAR sensors is expected to grow significantly, particularly for ADAS level 2+ and level 3 features, as OEMs are increasingly recognizing the need for these technologies [3][33] - The company is engaged in nine RFQs with multiple OEMs in Europe and North America, primarily focused on passenger car programs [22][64] Company Strategy and Development Direction - The company aims to establish itself as a Tier 1 LiDAR supplier by focusing on high-growth opportunities and maintaining financial discipline, avoiding risks associated with low-margin projects [24][36] - The strategy includes leveraging existing technology and partnerships to secure long-term supply agreements with OEMs, particularly in the automotive sector [56][58] Management Comments on Operating Environment and Future Outlook - Management noted that the transition from internal combustion engines (ICE) to electric vehicles (EV) is creating pressure on OEMs, leading to a cautious approach in new projects [62][63] - The company is optimistic about securing nominations in 2024, with expectations for significant revenue growth driven by high-volume contracts [98][110] Other Important Information - The Microsoft contract, which contributed $4.6 million in revenue, expired at the end of December 2023, with no visibility into future revenue from this source [38][131] - The company is not pursuing augmented reality (AR) projects due to a lack of control over end products, focusing instead on its LiDAR technology [91][128] Q&A Session Summary Question: What type of OEMs is the company targeting for announcements? - The focus is on OEMs based in Europe and North America, with an emphasis on high-volume projects [45][99] Question: What is the status of the Microsoft agreement? - The Microsoft contract expired at the end of December 2023, and there is currently no visibility into future revenue from Microsoft [131] Question: What is the expected gross margin trajectory for 2024? - The company expects gross margins to be in the range of 30% to 40% for 2024, as revenue scales up and the mix changes [102][103]
MicroVision(MVIS) - 2023 Q4 - Annual Results
2024-02-28 21:14
Exhibit 99.1 MicroVision Announces Fourth Quarter and Full Year 2023 Results REDMOND, WA / ACCESSWIRE / February 28, 2024 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced its fourth quarter and full year 2023 results. "We are very pleased with what our global team accomplished in 2023. We are now actively engaged in nine automotive RFQs, including some of the largest global OEMs, with a key focus on passenger vehicles with our MAVIN a ...
MicroVision(MVIS) - 2023 Q3 - Quarterly Report
2023-11-09 21:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission file number 001-34170 MicroVision, Inc. (Exact name of registrant as specified in its charter) Delaware 91-1600822 (State or Other Ju ...
MicroVision(MVIS) - 2023 Q3 - Earnings Call Transcript
2023-11-09 01:12
MicroVision, Inc. (NASDAQ:MVIS) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Drew Markham - General Counsel Sumit Sharma - Chief Executive Officer Anubhav Verma - Chief Financial Officer Conference Call Participants Operator Good afternoon, and welcome to the MicroVision Third Quarter 2023 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now ...
MicroVision(MVIS) - 2023 Q3 - Earnings Call Presentation
2023-11-08 22:24
& MicroVision Investor Presentation November 2023 1 | © 2023 MicroVision, Inc. All rights reserved. Confidential and proprietary. 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 r ...
MicroVision(MVIS) - 2023 Q2 - Quarterly Report
2023-08-09 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to _________ Commission file number 001-34170 MicroVision, Inc. (Exact name of registrant as specified in its charter) Delaware 91-1600822 (Stat ...