Microvision Financials
Microvision (MVIS) reported $1.2M in revenue for fiscal year 2025, down 74.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
External financing is carrying a development-heavy cost base while revenue remains too small to absorb operating investment.
The cash pattern is more revealing than the loss alone: FY2025 operating cash flow was-$58.7M while free cash flow was-$59.4M , so nearly all cash consumption came from ongoing operations rather than heavy capital spending. Financing dependence remains central: financing provided$60.9M , yet the cash balance declined because investing outflows added to the operating deficit.
Revenue was only
Current ratio improved from 1.8x in FY2024 to 2.7x in FY2025, giving short-term obligations more coverage. Debt-to-equity also eased from 0.7x to 0.3x, but recurring operating cash use means that improvement does not reflect self-funding.
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Microvision's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Microvision scores -14.40, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($50.8M) relative to total liabilities ($47.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Microvision passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Microvision reported a net loss of $95.0M while operations used $58.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Microvision reported an operating loss of $82.8M against $7.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Microvision generated $1.2M in revenue in fiscal year 2025. This represents a decrease of 74.3% from the prior year.
Microvision's EBITDA was -$77.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.0% from the prior year.
Microvision reported -$95.0M in net income in fiscal year 2025. This represents an increase of 2.0% from the prior year.
Microvision earned -$0.35 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.9% from the prior year.
Cash & Balance Sheet
Microvision recorded an outflow of $59.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 13.8% from the prior year.
Microvision held $32.4M in cash against $19.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Microvision's ROE was -171.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 27.7 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Microvision invested $31.7M in research and development in fiscal year 2025. This represents a decrease of 35.3% from the prior year.
Microvision invested $679K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 81.6% from the prior year.
Not reported for fiscal year 2025.
MVIS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.9M | $1.2M-74.3% | $4.7M-35.3% | $7.3M+993.2% | $664K-73.4% | $2.5M-19.1% | $3.1M-65.2% | $8.9M-49.5% | $17.6M+82.8% | $9.6M-34.7% | $14.8M+60.7% | $9.2M+163.6% | $3.5M-40.4% | $5.9M-30.0% | $8.4M+48.9% | $5.6M |
| Cost of Revenue | $18.7M | $18.5M+146.3% | $7.5M+171.6% | $2.8M+2672.0% | $100K+4900.0% | $2K-99.9% | $1.4M-83.7% | $8.6M-19.5% | $10.6M+7.9% | $9.9M-4.9% | $10.4M+44.5% | $7.2M+587.7% | $1.0M-42.0% | $1.8M-74.0% | $6.9M-47.0% | $13.1M |
| Gross Profit | -$15.8M | -$17.3M-511.9% | -$2.8M-163.2% | $4.5M+695.6% | $564K-77.4% | $2.5M+47.6% | $1.7M+425.5% | $322K-95.4% | $7.0M+3156.6% | -$228K-105.2% | $4.4M+118.5% | $2.0M-17.7% | $2.4M-39.7% | $4.1M+181.1% | $1.4M+119.3% | -$7.4M |
| R&D Expenses | $46.8M | $31.7M-35.3% | $49.0M-13.6% | $56.7M+86.5% | $30.4M+26.1% | $24.1M+145.0% | $9.8M-47.3% | $18.7M-24.3% | $24.7M+63.4% | $15.1M+24.4% | $12.1M+39.8% | $8.7M-4.3% | $9.1M-14.0% | $10.5M-18.0% | $12.9M-15.9% | $15.3M |
| SG&A Expenses | $25.9M | $20.3M-30.7% | $29.3M-20.0% | $36.7M+52.6% | $24.0M+8.0% | $22.3M+276.1% | $5.9M-27.2% | $8.1M-14.6% | $9.5M-6.2% | $10.2M+16.2% | $8.7M+11.0% | $7.9M+12.5% | $7.0M-20.0% | $8.8M-22.2% | $11.3M-15.5% | $13.3M |
| Operating Income | -$101.8M | -$82.8M+3.1% | -$85.5M+3.8% | -$88.9M-64.9% | -$53.9M-22.8% | -$43.9M-222.2% | -$13.6M+48.6% | -$26.5M+2.7% | -$27.2M-6.8% | -$25.5M-54.8% | -$16.5M-13.1% | -$14.6M-10.5% | -$13.2M+12.8% | -$15.1M+33.4% | -$22.7M+37.1% | -$36.0M |
| Interest Expense | $6.1M | $7.3M+64.3% | $4.5M+5471.3% | $80K+29.0% | $62K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $46K |
| Income Tax | $113K | -$84K-116.6% | $507K-55.8% | $1.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | N/A |
| Net Income | -$114.2M | -$95.0M+2.0% | -$96.9M-17.0% | -$82.8M-56.0% | -$53.1M-22.9% | -$43.2M-216.9% | -$13.6M+48.5% | -$26.5M+2.8% | -$27.3M-6.9% | -$25.5M-54.7% | -$16.5M-13.3% | -$14.5M+19.7% | -$18.1M-37.5% | -$13.2M+41.9% | -$22.7M+36.6% | -$35.8M |
| EPS (Diluted) | — | -$0.35+23.9% | -$0.46-2.2% | -$0.45-40.6% | -$0.32-18.5% | -$0.27 | -$0.10 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MVIS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $103.1M-14.9% | $121.2M-6.5% | $129.6M+12.7% | $115.0M-11.7% | $130.2M+519.9% | $21.0M+77.5% | $11.8M-48.6% | $23.0M-22.6% | $29.8M+48.1% | $20.1M+43.2% | $14.0M+17.6% | $11.9M+41.4% | $8.4M-34.7% | $12.9M-45.8% | $23.9M |
| Current Assets | $81.1M-1.6% | $82.5M-4.9% | $86.8M-4.7% | $91.0M-23.8% | $119.4M+580.1% | $17.6M+124.1% | $7.8M-55.6% | $17.6M-24.0% | $23.2M+33.8% | $17.3M+56.6% | $11.1M+15.1% | $9.6M+66.4% | $5.8M-40.3% | $9.7M-48.0% | $18.7M |
| Cash & Equivalents | $32.4M-40.6% | $54.5M+20.6% | $45.2M+119.9% | $20.5M-75.2% | $82.6M+390.1% | $16.9M+188.9% | $5.8M-57.6% | $13.8M-18.9% | $17.0M+12.1% | $15.1M+91.9% | $7.9M-5.5% | $8.3M+55.3% | $5.4M-21.5% | $6.8M-47.6% | $13.1M |
| Inventory | $745K-67.5% | $2.3M-40.8% | $3.9M+108.2% | $1.9M+4.6% | $1.8M | $0-100.0% | $192K-82.7% | $1.1M-75.6% | $4.5M+268.3% | $1.2M+43.0% | $862K+643.1% | $116K+136.7% | $49K-90.1% | $497K-88.3% | $4.3M |
| Accounts Receivable | $47K-94.9% | $926K-2.4% | $949K | $0 | N/A | $0-100.0% | $1.1M+126.7% | $476K+3073.3% | $15K-93.9% | $245K-85.5% | $1.7M+152.2% | $669K+2687.5% | $24K-97.8% | $1.1M+140.8% | $463K |
| Total Liabilities | $47.6M-34.3% | $72.4M+114.0% | $33.8M+34.0% | $25.3M+44.6% | $17.5M+45.6% | $12.0M-24.1% | $15.8M-16.4% | $18.9M-3.9% | $19.7M+219.0% | $6.2M-56.5% | $14.2M+179.8% | $5.1M-50.0% | $10.1M+28.7% | $7.9M-39.7% | $13.1M |
| Current Liabilities | $30.1M-34.4% | $46.0M+124.1% | $20.5M+79.4% | $11.4M-8.3% | $12.5M+24.3% | $10.0M-30.6% | $14.5M-20.5% | $18.2M-4.6% | $19.1M | N/A | $7.7M+68.0% | $4.6M-52.5% | $9.7M+22.9% | $7.9M-38.3% | $12.7M |
| Long-Term Debt | $19.2M-41.8% | $33.0M | N/A | N/A | N/A | N/A | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $55.5M+13.9% | $48.8M-49.1% | $95.8M+6.8% | $89.7M-20.4% | $112.8M+1151.6% | $9.0M+326.5% | -$4.0M-196.6% | $4.1M-59.2% | $10.1M-27.6% | $13.9M+9209.2% | -$153K-102.2% | $6.9M+505.2% | -$1.7M-133.6% | $5.1M-53.2% | $10.8M |
| Retained Earnings | -$957.3M-11.0% | -$862.3M-12.7% | -$765.4M-12.1% | -$682.5M-8.4% | -$629.4M-7.4% | -$586.2M | N/A | N/A | N/A | N/A | N/A | -$468.8M-4.0% | -$450.7M | N/A | N/A |
Not reported in any period shown, so not listed: Goodwill.
MVIS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$67.5M | -$58.7M+14.3% | -$68.5M-2.2% | -$67.1M-76.5% | -$38.0M-29.3% | -$29.4M-82.9% | -$16.1M+33.1% | -$24.0M-6.5% | -$22.6M-45.8% | -$15.5M-4.4% | -$14.8M-154.4% | -$5.8M+55.0% | -$13.0M-2.3% | -$12.7M+38.6% | -$20.6M+26.1% | -$27.9M |
| Capital Expenditures | $820K | $679K+81.6% | $374K-80.7% | $1.9M-55.6% | $4.4M+74.8% | $2.5M+520.1% | $402K-46.0% | $745K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$68.3M | -$59.4M+13.8% | -$68.9M+0.2% | -$69.0M-62.9% | -$42.4M-32.9% | -$31.9M-93.6% | -$16.5M+33.5% | -$24.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$18.5M | -$24.6M-1022.5% | $2.7M-87.8% | $21.8M+157.3% | -$38.1M-7.8% | -$35.3M-28813.8% | $123K+116.5% | -$745K+33.4% | -$1.1M+63.2% | -$3.0M-241.3% | -$891K+21.8% | -$1.1M-559.0% | -$173K+49.1% | -$340K-269.6% | -$92K-154.1% | $170K |
| Financing Cash Flow | $39.0M | $60.9M-16.5% | $72.9M+0.6% | $72.4M+406.3% | $14.3M-89.1% | $131.2M+386.2% | $27.0M+60.0% | $16.9M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MVIS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -1435.4% | -60.4%-122.2pp | 61.8%-23.1pp | 84.9%-15.0pp | 99.9%+45.2pp | 54.8%+51.1pp | 3.6%-36.0pp | 39.6%+41.9pp | -2.4%-32.1pp | 29.7%+7.9pp | 21.9%-48.2pp | 70.0%+0.8pp | 69.2%+52.0pp | 17.2% | -132.6% |
| Operating Margin | -6856.6% | -1821.1% | -1224.3% | -8116.0% | -1754.8% | -440.6% | -297.9% | -154.6% | -264.5% | -111.5% | -158.4% | -377.9% | -257.9% | -270.8% | -641.5% |
| Net Margin | -7862.7% | -2063.8% | -1141.2% | -7995.6% | -1728.0% | -441.2% | -298.0% | -154.8% | -264.5% | -111.6% | -158.3% | -519.9% | -225.2% | -271.3% | -637.5% |
| Return on Equity | -171.0%+27.7pp | -198.7%-112.3pp | -86.5%-27.3pp | -59.2%-20.9pp | -38.3%+113.0pp | -151.3% | N/A | -661.9%-409.2pp | -252.7%-134.5pp | -118.2% | N/A | -263.7% | N/A | -449.0%-117.5pp | -331.5% |
| Return on Assets | -92.1%-12.1pp | -80.0%-16.1pp | -63.9%-17.7pp | -46.2%-13.0pp | -33.2%+31.7pp | -64.9%+158.8pp | -223.7%-105.4pp | -118.3%-32.7pp | -85.6%-3.7pp | -81.9%+21.6pp | -103.6%+48.1pp | -151.7%+4.3pp | -156.0%+19.4pp | -175.4%-25.4pp | -150.0% |
| Current Ratio | 2.69+0.9x | 1.79-2.4x | 4.23-3.7x | 7.96-1.6x | 9.58+7.8x | 1.75+1.2x | 0.54-0.4x | 0.97-0.2x | 1.22 | N/A | 1.44-0.7x | 2.10+1.5x | 0.60-0.6x | 1.23-0.2x | 1.46 |
| Debt-to-Equity | 0.35-0.3x | 0.68+0.3x | 0.35+0.1x | 0.28+0.1x | 0.15-1.2x | 1.33 | N/A | 4.59+2.6x | 1.95+1.5x | 0.44 | N/A | 0.74 | N/A | 1.56+0.4x | 1.21 |
| FCF Margin | -4917.1% | -1467.5% | -950.9% | -6382.2% | -1275.9% | -533.2% | -279.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Microvision Ranks
Frequently Asked Questions
What is Microvision's annual revenue?
Microvision (MVIS) reported $1.2M in total revenue for fiscal year 2025. This represents a -74.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Microvision's revenue growing?
Microvision (MVIS) revenue declined by 74.3% year-over-year, from $4.7M to $1.2M in fiscal year 2025.
Is Microvision profitable?
No, Microvision (MVIS) reported a net income of -$95.0M in fiscal year 2025.
What is Microvision's EBITDA?
Microvision (MVIS) had EBITDA of -$77.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Microvision have?
As of fiscal year 2025, Microvision (MVIS) had $32.4M in cash and equivalents against $19.2M in long-term debt.
What is Microvision's return on equity (ROE)?
Microvision (MVIS) has a return on equity of -171.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Microvision's free cash flow?
Microvision (MVIS) recorded an outflow of $59.4M in free cash flow during fiscal year 2025. This represents a 13.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Microvision's operating cash flow?
Microvision (MVIS) recorded an outflow of $58.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Microvision's total assets?
Microvision (MVIS) had $103.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Microvision's capital expenditures?
Microvision (MVIS) invested $679K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Microvision spend on research and development?
Microvision (MVIS) invested $31.7M in research and development during fiscal year 2025.
What is Microvision's current ratio?
Microvision (MVIS) had a current ratio of 2.69 as of fiscal year 2025, which is generally considered healthy.
What is Microvision's debt-to-equity ratio?
Microvision (MVIS) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Microvision's return on assets (ROA)?
Microvision (MVIS) had a return on assets of -92.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Microvision's cash runway?
Based on fiscal year 2025 data, Microvision (MVIS) had $32.4M in cash against an annual operating cash burn of $58.7M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Microvision's Altman Z-Score?
Microvision (MVIS) has an Altman Z-Score of -14.40, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Microvision's Piotroski F-Score?
Microvision (MVIS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Microvision's earnings high quality?
Microvision (MVIS) reported a net loss of $95.0M while operations used $58.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Microvision cover its interest payments?
Microvision (MVIS) reported an operating loss of $82.8M against $7.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Microvision?
Microvision (MVIS) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.