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, 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.
MicroVision (NASDAQ: MVIS) announced that Yalon Farhi will not seek re-election to its board of directors at the 2021 annual meeting, effective upon the expiration of his term. Farhi has served on the board since September 2016 and leaves to pursue personal business interests. His departure is acknowledged positively by Chairman Brian Turner, who highlights Farhi's contributions and expertise in international business. MicroVision continues to focus on MEMS-based lidar and micro-display technologies for the automotive and augmented reality markets.
MicroVision (NASDAQ: MVIS) announced its fourth quarter and full year 2020 results, highlighting significant advancements in automotive lidar technology. CEO Sumit Sharma noted the progress in their LiDAR development and improvements to the company's balance sheet and team. They expect to showcase A-Sample hardware and benchmarked data to interested parties by April 2021. Additionally, a first-generation Long Range Lidar sensor may be available for sale in small quantities by late 2021. A webcast detailing the financial results is set for March 11, 2021.
MicroVision (NASDAQ: MVIS) announces the resignation of General Counsel David Westgor, who has served the company for over 15 years, including the past 8 years in this role. At 67, Westgor feels it's time to retire but will assist the company on a consulting basis until June. The company’s leadership commended Westgor for his integrity, expertise, and contributions toward maturing its technology and intellectual property, positioning MicroVision for future strategies.
MicroVision (NASDAQ: MVIS) announced it will release its Q4 and full year 2020 results on March 11, 2021, after market close. A webcast for investors will commence at 2:00 p.m. PT on the same day, accessible via the company's Investor Relations page. MicroVision specializes in MEMS-based technology for automotive lidar and augmented reality applications, integrating multiple technologies into its products. The company warns of risks related to finding strategic solutions, cash flow, and market acceptance, among others.
MicroVision, Inc. (NASDAQ: MVIS) has announced the appointment of Seval Oz to its board of directors, succeeding Bernee D. L. Strom, who has stepped down. Oz brings extensive experience in mobility and autonomous vehicle technology, having served as CEO of Aurima, CEO of Continental Intelligent Transportation Systems, and head of global partnerships at Waymo. CEO Sumit Sharma expressed enthusiasm for Oz's management expertise as the company develops its automotive lidar technology. The transition is viewed positively, aiming to enhance the company’s strategic direction.
MicroVision, Inc. (NASDAQ: MVIS) has completed a $50 million At-the-Market equity offering with Craig-Hallum Capital Group. The company issued 2.5 million shares for net proceeds of $48.7 million and has exhausted this ATM agreement. CEO Sumit Sharma emphasized that this financing will strengthen the company's balance sheet and help in pursuing strategic alternatives. MicroVision aims to advance its development of a high-performance lidar sensor, with a milestone set for April 2021.