MicroVision develops lidar-based perception solutions for automotive, industrial, and security and defense markets. Company news centers on short- and long-range solid-state lidar sensors, integrated hardware and software, and open software architecture used in autonomy, mobility, mapping, navigation, and infrastructure applications.
Recurring updates cover MOVIA sensor shipments, HALO long-range lidar integration, Tri-Lidar Architecture demonstrations, industrial autonomy deployments, security and defense orders, reseller and partner programs, and collaborations that combine MicroVision sensing technology with external platforms. News also includes quarterly results, business updates, capital actions, and integration of acquired lidar sensor assets.
MicroVision, a leader in MEMS-based solid-state automotive lidar and micro-display technology, reported its third-quarter 2021 results. Revenue increased to $0.7 million, up from $0.6 million in Q3 2020. However, the net loss for the quarter widened to $9.4 million or $0.06 per share, compared to $2.8 million in Q3 2020. Adjusted EBITDA was negative $6.2 million, worsening from negative $2.1 million year-over-year. Cash used in operations rose to $10.0 million from $3.5 million. The company ended the quarter with $125.1 million in cash and equivalents.
MicroVision (NASDAQ: MVIS) will announce its third quarter 2021 results on October 28, 2021, after market close. Following the results, a webcast will commence at 2:00 p.m. Pacific Time, accessible via the Investor Relations section of MicroVision's website. Investors can submit questions ahead of time via email or during the live event. MicroVision specializes in MEMS based technology for automotive lidar and augmented reality applications, integrating various technologies to serve emerging markets.
MicroVision, Inc. (NASDAQ: MVIS) has announced the retirement of CFO Stephen P. Holt, effective November 15, 2021, after serving since 2013. Holt will assist as an advisor during the transition to new CFO Anubhav Verma, who has a strong background in finance and investments. CEO Sumit Sharma praised Holt's contributions and expressed confidence in Verma's leadership to drive growth. The company continues to work on key lidar developments with a solid balance sheet, aiming to enhance its market presence in automotive and augmented reality sectors.
MicroVision, Inc. (NASDAQ: MVIS) announced that CEO Sumit Sharma will be featured in a webcast interview on October 21, 2021, at 7:30 am PT. The interview, conducted by InvestorPlace Analyst Joanna Makris, can be accessed on InvestorPlace and the Investor Relations section of MicroVision's website. MicroVision specializes in MEMS-based solid-state automotive lidar and micro-display technologies, integrating various advanced technologies to serve emerging markets.
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.