Welcome to our dedicated page for Microvision news (Ticker: MVIS), a resource for investors and traders seeking the latest updates and insights on Microvision stock.
MicroVision Inc. (NASDAQ: MVIS) is a trailblazing company specializing in MEMS-based laser beam scanning technology. The company is best known for its PicoP® scanning technology, which offers ultra-miniature laser projection and sensing solutions for a variety of applications. MicroVision's core business includes the development of advanced lidar sensors for automotive safety and autonomous driving applications, leveraging its proprietary laser beam scanning (LBS) technology. This technology integrates multiple systems such as micro-electromechanical systems (MEMS), laser diodes, opto-mechanics, electronics, algorithms, and software.
MicroVision's intellectual property (IP) portfolio is a significant asset, having been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and included in the Ocean Tomo 300 patent index. The company has also gained recognition for its contributions to augmented reality, interactive displays, and consumer lidar modules.
With a global team of over 350 employees and offices in Redmond, Detroit, Hamburg, and Nuremberg, MicroVision continues to push the boundaries of MEMS-based laser beam scanning technology. The company's integrated approach utilizes its proprietary technology to offer automotive lidar sensors and advanced driver-assistance systems (ADAS) solutions, as well as non-automotive applications in industrial sectors, smart infrastructure, and robotics.
Recent achievements include a partnership with Luxoft to develop a new generation of testing and simulation environments for ADAS and autonomous driving, and a $100,000 private placement agreement by its executive management team and Board of Directors, reflecting confidence in the company's strategic direction. Additionally, MicroVision has entered into a $150 million at-the-market (ATM) equity offering sales agreement to support scaling production capabilities and advancing its go-to-market strategy.
For the latest updates, MicroVision regularly engages with stakeholders through conference calls and webcasts, providing business updates and financial results. The company remains focused on securing nominations for series production with automotive OEMs and exploring revenue opportunities in non-automotive markets to scale its business.
MicroVision's significant milestones and strategic partnerships underscore its commitment to innovation and long-term value creation for its stockholders.
MicroVision, a leader in automotive lidar solutions, reported its Q3 2022 results on October 27, 2022. Revenue was $0, down from $0.7 million in Q3 2021. The net loss increased to $12.9 million, compared to $9.4 million in the previous year. Adjusted EBITDA was negative $8.5 million, worsening from negative $6.2 million. Cash reserves fell to $83.3 million from $115.4 million at year-end 2021. Despite these setbacks, the company has started sample sales to OEMs and anticipates increased sales into 2023, highlighting a potential recovery ahead.
MicroVision (NASDAQ: MVIS) announced it will release its third quarter 2022 results on October 27, 2022, after market close. A conference call and webcast will follow at 2:00 PM PT/5:00 PM ET for financial discussion and business updates. This session will include prepared remarks, a slide presentation, and a Q&A segment. Investors can submit questions beforehand via a provided link. The webcast will be available on the Company's Investor Relations website for later viewing.
MicroVision, Inc. (NASDAQ:MVIS) announced the commencement of delivering MAVIN DR dynamic view lidar system samples to OEMs and Tier 1 suppliers. This milestone enables OEMs to test and validate the sensor, which features high resolution and low latency for advanced driver-assistance systems (ADAS). With capabilities for short, medium, and long-range sensing at speeds of up to 130 km/h, MAVIN aids in proactive decision-making for safety. Designed for seamless integration into vehicles, MAVIN supports OEM supply chains while maintaining cost-effectiveness.
MicroVision Achieves Class 1 Compliance for MAVIN DR Lidar System
MicroVision, Inc. (NASDAQ:MVIS) has announced that its MAVIN DR dynamic view lidar system is now a Class 1 laser product compliant, aligning with international safety standards. This milestone enables the company to begin sample sales and pursue partnerships with OEMs, enhancing market opportunities. The MAVIN DR boasts high resolution and low latency, meeting the demands of advanced driver-assistance systems (ADAS). This compliance, a first in the industry, equips MicroVision for competitive advantage and safe operation.
MicroVision, Inc. (NASDAQ:MVIS) has announced that its MAVIN DR lidar system is now supported on the NVIDIA DRIVE AGX platform, enhancing ADAS capabilities for OEMs. This system provides a dynamic field of view with low latency, contributing to true highway-pilot functionality. The partnership with NVIDIA aims to expedite the safe adoption of advanced safety features in vehicles, leveraging high-resolution sensor technology to improve performance and reduce costs. Additionally, the MAVIN DR is also supported on the NVIDIA DRIVE Sim simulation platform.
MicroVision (NASDAQ: MVIS) announced its Q2 2022 results on July 28, 2022, reporting revenue of $0.3 million, a decline from $0.7 million in Q2 2021. The net loss was $13.6 million, or $0.08 per share, an improvement from $15.0 million in the same quarter last year. Adjusted EBITDA was negative $9.2 million, compared to negative $6.7 million in Q2 2021. Cash used in operating activities increased to $9.7 million. The company ended the quarter with $92.9 million in cash. OEM collaborations are progressing, with sample sales expected in H2 2022.
MicroVision, Inc. (NASDAQ:MVIS) will announce its second quarter 2022 financial results on July 28, 2022, after market close. Following the results, a conference call and webcast will take place at 2:00 PM PT / 5:00 PM ET, featuring management's remarks, a presentation, and a Q&A session. Analysts and investors are invited to submit questions during the live event. The webcast will be accessible via the Company's Investor Relations website and archived for later viewing.
MicroVision, Inc. (NASDAQ:MVIS) announced the release of new videos showcasing successful highway speed track tests of its MAVIN™ line, particularly the MAVIN DR, designed for advanced driver assistance systems (ADAS). The tests focused on complex object tracking and changing lighting conditions, demonstrating the system's ability to accurately track objects at high speeds and in low light. This milestone highlights MicroVision's commitment to refining its technology and attracting potential OEM partners, while ensuring scalable and cost-effective solutions.
MicroVision announced the completion of its Germany test vehicle, designed to showcase its MAVIN sensor line, including the new MAVIN DR dynamic view lidar system. This vehicle is set to demonstrate advanced safety features for original equipment manufacturers (OEMs) in private meetings over the next several weeks. The completion of a second highway test track session marks significant progress, providing data on high-speed sensor fusion capabilities. The MAVIN DR sensor offers improved range and clarity for advanced driver assistance systems (ADAS).
MicroVision (NASDAQ: MVIS) announced its addition to the Russell Microcap Index effective June 27, 2022, which underscores the company's growth in automotive lidar and ADAS solutions. This membership enhances visibility among investors and reflects confidence in its leadership and strategies. MicroVision remains in the Russell 2000 and Russell 3000 indexes, which are used by investment managers managing approximately $12 trillion in assets. The inclusion aims to bolster public awareness and potentially attract more investment in the company.
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