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 technology company focused on lidar-based perception solutions for autonomy and mobility, with applications across automotive, industrial, and defense-related markets. This news page aggregates company announcements, press releases, and other public updates so readers can follow how MicroVision’s lidar hardware and perception software are being developed and deployed.
In its recent news, MicroVision has highlighted commercial momentum in the industrial and Security & Defense sectors, including an initial order for its solid-state, flash-based MOVIA L short-range lidar sensors with integrated software. The company has also reported progress in integrating its MOVIA lidar into NVIDIA’s DRIVE AGX platform, positioning its technology within an autonomous vehicle ecosystem and supporting engagement with global automotive OEMs.
Visitors to this page can review updates on MicroVision’s product portfolio, such as announcements around its next-generation MOVIA S short-range sensor and its Tri-Lidar Architecture solution. The company’s news also covers strategic initiatives like its agreement to acquire the business and assets of Scantinel Photonics GmbH to add 1550nm FMCW long-range lidar technology, as well as the formation of an Aerial Systems team and expansion into the defense tech and ISR sectors.
In addition to technology and market developments, MicroVision’s news flow includes quarterly earnings releases, commentary on non-GAAP financial measures, and corporate governance changes, such as leadership transitions and board appointments. Investors and followers of MVIS can use this page to monitor operational milestones, sector-specific initiatives in automotive, industrial automation, and defense, and other material events disclosed by the company over time.
MicroVision, Inc. (NASDAQ: MVIS) announced progress in developing its first-generation MEMS Dynamic Scanning Long Range Lidar sensor module. Key features include a 200-meter range, performance in sunlight, and robustness against rogue signals. The company aims to meet automotive industry standards by April 2021, promoting safety in vehicle maneuverability. CEO Sumit Sharma emphasized the module's technological advantage and early testing success, positioning MicroVision favorably for future strategic alternatives, including potential sale or merger.
MicroVision, Inc. (NASDAQ: MVIS) announced a $10 million At-the-Market equity offering agreement with Craig-Hallum Capital Group, effective November 9, 2020. This agreement allows MicroVision to sell shares at its discretion for general corporate purposes, including working capital and capital expenditures for potential strategic transactions. Sales will occur through negotiated transactions or market makers at prevailing market prices, and the offering will utilize an existing effective shelf registration statement with the SEC. Investors are encouraged to review the related prospectus for more details.
MicroVision, Inc. (NASDAQ:MVIS) reported third-quarter 2020 revenue of $0.6 million, down from $1.2 million in Q3 2019. The company's net loss narrowed to $2.8 million ($0.02 per share) compared to a loss of $6.1 million ($0.05 per share) in the same quarter last year. Cash and equivalents totaled $5.0 million, a decrease from $5.8 million at the end of Q4 2019. CEO Sumit Sharma emphasized the pursuit of a strategic transaction that accurately reflects the value of their technology and thanked shareholders for their support during the recent special meeting.
MicroVision, Inc. (NASDAQ:MVIS) will announce its third quarter 2020 results on October 29, 2020, after market close. A live webcast for discussing the results will commence at 2:00 p.m. PT on the same day. Interested investors can access the event on the company's Investor Relations website and submit questions via email. MicroVision specializes in ultra-miniature projection and sensing technology, holding a distinguished intellectual property portfolio, recognized among the top in the industry.
MicroVision, based in Redmond, Wash., reported a revenue of $0.6 million for Q2 2020, down from $1.2 million in Q2 2019. The net loss narrowed to $2.3 million, or $0.02 per share, compared to a loss of $9.0 million, or $0.08 per share, in the prior year. The company ended the quarter with $7.8 million in cash, an increase from $5.8 million at the end of Q4 2019. CEO Sumit Sharma stated that MicroVision is exploring strategic alternatives, including potential sales or mergers, to maximize shareholder value.
MicroVision (NASDAQ: MVIS) announced it will report its second quarter 2020 financial results on August 5, 2020, after market close. Following the results, a webcast will take place at 2:00 p.m. Pacific Time, accessible via the Investor Relations section of the company's website. Interested parties can submit questions in advance to IR@MicroVision.com. MicroVision is renowned for its PicoP® scanning technology, showcasing its capabilities in projection and sensing technology.
MicroVision, Inc. (Nasdaq: MVIS) announced on June 22, 2020, that it has regained compliance with Nasdaq's listing requirements, following a notification of a previous bid price rule violation. The Nasdaq Hearings Panel granted an extension that allowed MicroVision to meet compliance standards. The company will continue to monitor the potential need for a reverse stock split, as authorized by shareholders. MicroVision is recognized for its PicoP® scanning technology and holds a prominent intellectual property portfolio.
MicroVision, Inc. (Nasdaq: MVIS) has announced the election of Dr. Mark B. Spitzer to its board of directors. Dr. Spitzer brings extensive experience in technology innovation, particularly in augmented reality (AR) and virtual reality (VR), with a strong background in developing micro-display systems. His previous roles include leadership positions at Google X and founding MicroOptical Corporation. The appointment aims to strengthen the company's strategic direction as it explores options with Craig-Hallum Capital Group for its technology. Dr. Spitzer's expertise is expected to enhance the company's growth potential.
MicroVision (Nasdaq: MVIS) announced on May 26, 2020, that it regained compliance with Nasdaq’s market value listing requirement, effective May 22, 2020. This follows a notification on April 8, 2020, regarding a previous non-compliance issue. However, the company still faces a challenge with the minimum bid price requirement of $1.00 per share, with a compliance deadline set for August 24, 2020. Failure to meet this requirement could lead to delisting. MicroVision continues to pursue its business plan and explore actions to maintain Nasdaq listing.
MicroVision (NASDAQ: MVIS) announced the resignation of Perry M. Mulligan from its board of directors, effective May 21, 2020. Mulligan, who served as a board member since January 2010 and as CEO from November 2017 to February 2020, cited health issues as the reason for his departure. The board chair, Brian Turner, recognized Mulligan’s contributions and expressed regret at his exit, while also emphasizing the successful transition to the new CEO, Sumit Sharma. The company, known for its PicoP® scanning technology, continues to focus on innovative projection and sensing solutions.