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 and micro-display technology, reported a revenue of $0.7 million for Q2 2021, compared to $0.6 million in Q2 2020. The net loss widened to $15.0 million or $0.09 per share, influenced by a $7.9 million non-cash compensation expense, versus a loss of $2.3 million in the prior year. Operational cash usage increased to $6.7 million from $2.9 million. The company ended Q2 2021 with $135.3 million in cash, a significant rise from $16.9 million at the end of Q4 2020. MicroVision anticipates limited sales of its LRL product family beginning in Q4 2021.
MicroVision, Inc. (NASDAQ: MVIS) announced it will report its second quarter 2021 results on August 4, 2021, after market close. Following the release, a webcast will start at 2:00 p.m. PT, accessible via the Investor Relations section of its website. Investors can submit questions for management prior to or during the live session. MicroVision specializes in MEMS-based solid-state automotive lidar and micro-display technology aimed at augmented reality. For further details, visit www.microvision.com.
MicroVision (NASDAQ:MVIS) has appointed Dr. Thomas Luce as Vice President of Business Development, focusing on the European and Middle Eastern markets. The company is also set to open a new office in Germany to strengthen ties with automotive OEMs and Tier 1 suppliers. Dr. Luce brings over 25 years of experience in the automotive lighting and optics sectors. CEO Sumit Sharma expressed optimism about enhancing local engagement and meeting customer expectations. Initial feedback from potential partners has been positive, with expectations for the lidar technology to support autonomous driving initiatives.
MicroVision, Inc. (NASDAQ: MVIS) announced a $140 million At-the-Market (ATM) equity offering agreement with Craig-Hallum Capital Group. The company plans to sell shares at its discretion to raise funds for general corporate purposes, including working capital and capital expenditures. CEO Sumit Sharma emphasized advancements in their automotive lidar program and the importance of a strong balance sheet to instill confidence in potential partners. The offering will occur under an effective shelf registration statement filed in February 2021.
MicroVision, a leader in lidar technology, has appointed Drew Markham as General Counsel. Markham brings over 20 years of legal experience, particularly in corporate governance and M&A, having worked with notable firms like Wilson Sonsini and RealNetworks. CEO Sumit Sharma praised Markham's expertise, emphasizing its value as the company aims to expand its customer engagement and partnerships. This leadership transition signals the company's focus on strategic opportunities and shareholder value amidst evolving market demands for lidar and augmented reality solutions.
MicroVision (NASDAQ: MVIS) has announced its participation in the IAA Mobility 2021 show in Munich from September 7-12, where it will exhibit its long-range lidar sensor. CEO Sumit Sharma expressed excitement about demonstrating the sensor's capabilities and its potential to enhance advanced driver assistance systems (ADAS). This year’s IAA Mobility, which replaces the traditional Frankfurt event, aims to showcase a diverse range of mobility solutions. MicroVision is committed to exploring strategic partnerships and highlighting its innovative technology at this international automotive trade show.
MicroVision, Inc. (NASDAQ: MVIS) will join the Russell 2000 Index after the annual reconstitution scheduled for June 28, 2021. This inclusion reflects the company's advancements in MEMS-based lidar and micro-display technology. As part of the Russell 3000 Index, MicroVision benefits from enhanced visibility among investment managers, with approximately $10.6 trillion benchmarked against Russell indexes. CEO Sumit Sharma emphasized that this achievement highlights the progress made in technology development and strengthening the company's balance sheet.
MicroVision, a leader in automotive lidar and micro-display technology, reported Q1 2021 revenues of $0.5 million, down from $1.5 million in Q1 2020. The net loss increased to $6.2 million, unchanged on a per-share basis at $0.04. Cash reserves rose significantly to $75.3 million compared to $16.9 million at the end of Q4 2020. CEO Sumit Sharma stated they are on track with their lidar development and plan to release the first-generation sensor in late 2021. The company completed two equity raises, strengthening its financial position for potential strategic partnerships.
MicroVision, Inc. (NASDAQ: MVIS) has successfully completed the development of its A-Sample hardware for a long-range lidar sensor, anticipated to enhance autonomous driving systems. CEO Sumit Sharma highlighted the sensor's outstanding features, including a range of 250 meters, a 100-degree horizontal field of view, and the ability to deliver 10.8 million points per second at 30 hertz. The sensor's groundbreaking capability to measure velocity at low latency is expected to set it apart from competitors. Initial sales are projected for Q3 or Q4 of 2021.
MicroVision, based in Redmond, Washington, will release its first quarter 2021 financial results on April 29, 2021, after market close. A webcast will follow at 2:00 PM PT that same day, accessible through their Investor Relations website. Investors can submit questions in advance or during the live event. MicroVision specializes in MEMS-based lidar and micro-display technology, focusing on various applications including automotive sensors and augmented reality displays.
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