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) announced a $50 million At-the-Market (ATM) equity offering agreement with Craig-Hallum Capital Group LLC. The company plans to use proceeds from this offering for general corporate purposes, including working capital and potential strategic transactions. CEO Sumit Sharma expressed confidence in the financing's role in solidifying the company's balance sheet as they pursue strategic alternatives. MicroVision remains focused on completing its Long Range Lidar module by April 2021 to enhance shareholder value.
MicroVision (NASDAQ: MVIS) announced it has received components and equipment necessary to achieve its April milestone of completing A-Samples for its Long Range Lidar Sensor. The company has begun outdoor testing of key features on its development platform. Designed for autonomous driving, the sensor will have a range of at least 250 meters and output velocity of moving objects in real time. Expected to meet OEM requirements, the sensor aims to achieve commercial success with costs below $1,000 ASP.
MicroVision, a leader in ultra-miniature projection technology, announced a $13 million At-the-Market (ATM) equity offering agreement with Craig-Hallum Capital Group on December 29, 2020. The company plans to use the proceeds for general corporate purposes, including working capital and capital expenditures, while developing its automotive lidar module. MicroVision expects the financing to strengthen its balance sheet, providing a cash runway through 2021 and into early 2022. The agreement allows sales of common stock at prevailing market prices.
MicroVision, Inc. (Nasdaq: MVIS) has appointed Judy Curran to its board of directors, effective December 1, 2020. Curran brings over 30 years of automotive experience, notably from her time at Ford Motor Company, where she led innovation in assisted driving and other technologies. Her expertise in the automotive sector is expected to enhance MicroVision's strategic direction, especially in lidar sensor technology.
Brian Turner, the Chairman, expressed confidence that Curran will add valuable insights as the company explores strategic options with Craig-Hallum Capital Group.
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.