MicroVision Business Update and Fireside Chat on February 25, 2026 ELEMENT--[Back to the Newsroom]# MicroVision Business Update and Fireside Chat on February 25, 2026REDMOND, WA / [ACCESS Newswire]/ February 24, 2026 / MicroVision, Inc. (NASDAQ:MVIS), a technology pioneer delivering advanced perception solutions in autonomy and mobility, today announced a video-enabled business update and fireside chat on February 25, 2026 at 10:00 AM ET with Glen DeVos, MicroVision's Chief Executive Officer.Having complete ...

REDMOND, WA / ACCESS Newswire / February 24, 2026 / MicroVision, Inc. (NASDAQ:MVIS), a technology pioneer delivering advanced perception solutions in autonomy and mobility, today announced that it had enhanced its financial position by issuing senior secured convertible notes in the aggregate principal amount of $43.0 million, which defer existing repayment obligations and fortify the Company's balance sheet, thus supporting acceleration of acquisition synergies. "We were pleased to work with our financial ...

Core Insights - Luminar's lidar business faced a last-minute bid that exceeded the leading offer of $33 million from MicroVision, but Luminar chose to proceed with MicroVision's bid due to "infirmities" in the new offer [1][2] Group 1: Sale Process and Bids - An unidentified party submitted a bid just before a bankruptcy hearing, which was significantly higher than the $33 million bid from MicroVision [1] - Luminar's legal counsel indicated that the last-minute bid had issues, leading the company to stick with MicroVision's offer [2] - The identity of the last-minute bidder was not disclosed, but it was suggested to be an "insider purchaser," likely Austin Russell, Luminar's founder [2][3] Group 2: MicroVision's Acquisition - The sale of Luminar's lidar technology and remaining staff to MicroVision was approved, with the transaction expected to close in the coming weeks [3][6] - MicroVision aims to leverage Luminar's lidar technology to enhance its automotive capabilities, which it currently lacks [6][8] - MicroVision's CEO expressed optimism about reviving Luminar's existing contracts with automakers, viewing them as potential revenue opportunities [9][10] Group 3: Competitive Landscape - MicroVision is positioned to expand beyond its current markets of industrial use, security, and defense by integrating Luminar's technology [8] - The acquisition is seen as a strategic move to enhance MicroVision's engineering capabilities and competitiveness in the automotive sector [9]

Core Insights - Luminar's lidar business received a higher bid of $33 million from MicroVision, surpassing the previous bid of $28 million from Quantum Computing Inc. [1] - MicroVision aims to acquire intellectual property, inventory, engineering talent, and commercial contracts related to its lidar sensors, indicating a strategic move to enhance its position in the lidar market [1]. - The sale is pending approval from the bankruptcy court, with a hearing scheduled for Tuesday afternoon [1]. Company Developments - Austin Russell, Luminar's founder and former CEO, has not confirmed whether he submitted a bid for the lidar assets during the bankruptcy process [2]. - Russell's previous attempts to acquire Luminar outright and his ongoing legal disputes with the company highlight the complexities surrounding the bankruptcy case [3]. - A protective order regarding Russell's personal information was established, allowing him to comply with a subpoena related to his resignation and the ongoing legal matters [4]. Industry Context - MicroVision's CEO emphasized the need for consolidation in the lidar market, suggesting that the industry is poised for significant changes and increased safety through advanced technology [1]. - The acquisition of Luminar's lidar assets could expedite the resolution of Luminar's bankruptcy case, which has been ongoing since December [4]. - The sale of Luminar's semiconductor division to Quantum Computing Inc. for $110 million indicates ongoing restructuring efforts within the company [4].

Core Viewpoint - Luminar's lidar business has attracted a higher bid of $33 million from MicroVision, surpassing the previous bid of $22 million from Quantum Computing Inc. as the auction concludes in the company's bankruptcy case [1][2]. Group 1: Bidding Process - MicroVision's bid of $33 million exceeds Quantum Computing Inc.'s latest bid of $28 million, which was initially $22 million [2]. - The sale of Luminar's lidar business is pending approval from the judge overseeing the bankruptcy case, with a hearing scheduled for Tuesday afternoon [2]. Group 2: Company Background and Legal Issues - It remains uncertain whether Luminar's founder and former CEO Austin Russell submitted a bid for the lidar assets, although he had previously expressed interest [3]. - Russell and Luminar have been involved in legal disputes regarding a subpoena, with the company considering legal action against him related to his resignation following an ethics inquiry [4]. - Russell has agreed to comply with the subpoena, and a protective order regarding his personal information has been established [5]. Group 3: Bankruptcy Case Progress - The potential sale of the lidar assets could expedite the resolution of Luminar's bankruptcy case, which was filed in December [5]. - Luminar has already reached an agreement to sell its semiconductor division to Quantum Computing Inc. for $110 million [5].

Core Viewpoint - MicroVision, Inc. has announced the acquisition of certain assets from Luminar Technologies, Inc. for $33 million, which includes key lidar technology and talent [1] Group 1: Acquisition Details - The acquisition includes intellectual property (IP) and inventory related to the Iris and Halo lidar sensors [1] - MicroVision was the winning bidder in a competitive auction conducted under Section 363 of the U.S. Bankruptcy Code [1] - The total cash purchase price for the assets, employees, and contracts associated with Luminar's lidar business is $33 million [1] Group 2: Strategic Implications - The acquisition aims to enhance MicroVision's capabilities in advanced perception solutions for autonomy and mobility [1] - Key engineering and operations talent from Luminar will be integrated into MicroVision to bolster its lidar technology development [1] - The deal includes certain commercial contracts and orders, which may provide immediate revenue opportunities for MicroVision [1]

Core Insights - MicroVision, Inc. has announced commercial momentum in the Industrial and Security & Defense sectors with an initial order for MOVIA L sensors with integrated software [1][2] Group 1: Commercialization Efforts - The company has gained traction in its commercialization efforts, particularly in the Security & Defense sector, highlighting the immediate value of its MOVIA L sensor in mission-critical systems [2] - The MOVIA L sensor is designed to protect lives on the battlefield and cargo in industrial transport settings, showcasing its versatility [2] Group 2: Product Features and Production Capacity - The MOVIA L sensor is characterized by its light weight, low power consumption, and rugged reliability, making it suitable for harsh environments [3] - Increased production capacity for MOVIA L in 2025 allows the company to offer high-quality, automotive-grade sensors at competitive costs, providing immediate value to customers [3] Group 3: Future Developments - The company plans to launch its next-generation MOVIA S production in Q4 of 2026, indicating ongoing innovation and product development [3] Group 4: Company Overview - MicroVision is focused on driving the global adoption of innovative perception solutions aimed at enhancing safety and automation across various industrial applications, including robotics and agriculture [4] - The company's core technology, initially developed for the automotive industry, continues to support advanced driver-assistance systems (ADAS) and autonomous driving [4]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Revenue Performance - Revenue for the three months ended September 30, 2025, was $241,000, representing a 26.8% increase compared to $190,000 in the same period of 2024[123] - Revenue for the nine months ended September 30, 2025, decreased to $985,000, a decline of 67.7% from $3,046,000 in the same period of 2024, primarily due to higher sales in 2024 driven by shipments to Daimler Truck North America[123][124] - Revenue for the nine months ended September 30, 2025, decreased to $985,000, down 67.7% from $3,046,000 in the same period of 2024, primarily due to lower sales of sensors to industrial customers[123] Cost and Expenses - Cost of revenue for the three months ended September 30, 2025, was $957,000, which is 397.1% of revenue, compared to $583,000 or 306.8% of revenue in the same period of 2024[125] - Research and development expenses for the three months ended September 30, 2025, were $7,978,000, an 8.7% decrease from $8,736,000 in the same period of 2024[127] - Sales, marketing, general and administrative expenses for the three months ended September 30, 2025, were $4,027,000, a 39.0% decrease from $6,599,000 in the same period of 2024[130] - Research and development expenses for the nine months ended September 30, 2025, totaled $23.0 million, down from $40.3 million in 2024, a decrease of $17.2 million (42.8%) [127] - Sales, marketing, general and administrative expenses for the three months ended September 30, 2025, were $4.0 million, down from $6.6 million in 2024, a decrease of $2.6 million (39.0%) [130] Financing and Cash Flow - Cash used in operating activities totaled $43.3 million for the nine months ended September 30, 2025, compared to $53.5 million in the same period of 2024, reflecting decreased operating expenses related to personnel[142] - As of September 30, 2025, the company had $72.8 million in cash and cash equivalents and $26.7 million in short-term investment securities, with approximately $46.2 million available under its existing $150.0 million ATM facility[141] - Net cash provided by financing activities was $67.8 million for the nine months ended September 30, 2025, compared to $26.2 million in the same period of 2024, driven by net proceeds from the issuance of common stock and warrants[144] - Cash used in operating activities during the nine months ended September 30, 2025, was $43.3 million, compared to $53.5 million in the same period of 2024, a decrease of $10.2 million[142] - Net cash provided by financing activities totaled $67.8 million during the nine months ended September 30, 2025, compared to $26.2 million in 2024, an increase of $41.6 million[144] Interest and Other Income - Interest expense for the three months ended September 30, 2025, increased to $(2,197,000) from $(21,000) in the same period of 2024, reflecting a significant rise of 10,361.9%[135] - Other income decreased by 56.0% to $140,000 for the three months ended September 30, 2025, compared to $318,000 in the same period of 2024, primarily due to decreased interest income[140] - Other income for the nine months ended September 30, 2025, decreased to $363,000 from $1.8 million in 2024, a decrease of $1.4 million (79.4%) [140] Strategic Acquisitions and Future Outlook - The company acquired strategic assets from Ibeo Automotive Systems GmbH in January 2023, enhancing its lidar technology offerings for automotive applications[116] - An Asset Purchase Agreement was entered into to acquire Scantinel Photonics GmbH, adding FMCW lidar technology to the product portfolio[118] - The company expects to continue incurring significant losses in the near term, having funded operations primarily through stock sales and convertible debt[121] - A workforce reduction of 41% in 2024 added approximately $6.0 million to fiscal year 2024 expenses but is expected to reduce future operating expenses[119] - The company is expanding its product portfolio through the acquisition of Scantinel Photonics GmbH, which will add FMCW lidar technology[118] - The company expects to make minimum payments of approximately $2.0 million to its contract manufacturing partner for MOVIA L sensor inventory during the remainder of 2025 and 2026[142] Unrealized Gains and Losses - The company recognized an unrealized gain of $1,059,000 on derivative liability for the three months ended September 30, 2025, due to a decrease in the fair value of the derivative liability[137] - The company incurred a realized loss of $4.654 million on debt extinguishment during the nine months ended September 30, 2025, due to debt modification[139] - Unrealized gain on derivative liability for the nine months ended September 30, 2025, was $3.9 million, reflecting a decrease in the fair value of the derivative liability[137] - The company recognized a loss on extinguishment of notes payable of $(4.7 million) during the nine months ended September 30, 2025[139]

Financial Performance - Revenue for Q3 2025 was $0.2 million, flat compared to $0.2 million for Q3 2024, comprised of sales to industrial customers[12] - Net loss for Q3 2025 was $14.2 million, or $0.05 per share, compared to a net loss of $15.5 million, or $0.07 per share for Q3 2024[12] - Revenue for the three months ended September 30, 2025, was $241 million, a 27% increase from $190 million in the same period of 2024[23] - Net loss for the three months ended September 30, 2025, was $14,217 million, compared to a net loss of $15,517 million in the same period of 2024[23] Operating Expenses - Total operating expenses for Q3 2025 were $12.0 million, relatively flat year over year compared to $15.3 million for Q3 2024[12] - Total operating expenses for the three months ended September 30, 2025, were $12,005 million, down from $15,313 million in 2024[23] Cash Flow and Liquidity - Cash used in operations in Q3 2025 was $16.5 million, compared to $14.1 million in Q3 2024[12] - The Company ended Q3 2025 with $99.5 million in cash and cash equivalents, compared to $74.7 million as of December 31, 2024[12] - Cash, cash equivalents, and restricted cash at the end of the period on September 30, 2025, was $74,534 million, significantly up from $18,365 million in 2024[25] - Net cash used in operating activities for the nine months ended September 30, 2025, was $43,315 million, an improvement from $53,484 million in 2024[25] - The company reported a net cash provided by financing activities of $67,758 million for the nine months ended September 30, 2025, compared to $26,155 million in 2024[25] Adjusted EBITDA - Adjusted EBITDA for Q3 2025 was a $11.7 million loss, flat compared to a $11.7 million loss for Q3 2024[12] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(33,620) million, compared to $(42,899) million in the same period of 2024[27] Research and Development - Research and development expenses for the nine months ended September 30, 2025, totaled $23,039 million, down from $40,251 million in 2024[23] Leadership and Strategic Initiatives - The Company appointed Glen DeVos as CEO to enhance automotive capabilities and drive market leadership in lidar technology[5] - The introduction of the next generation solid-state lidar sensor, MOVIA S, aims to provide a cost-effective short-range solution for various applications[5] - The Company executed an agreement to acquire Scantinel Photonics, enhancing its long-range FMCW lidar capabilities for commercial vehicles and passenger cars[5] Share Information - Weighted-average shares outstanding for the three months ended September 30, 2025, were 295,461 thousand, compared to 213,004 thousand in 2024[23]