MicroVision Inc

microvision.com

What Do They Do?

Sells lidar sensors and integrated perception software to automotive manufacturers and suppliers, industrial automation companies, and security and defense contractors.

How Do They Make Money?

Customers buy lidar sensors and systems, with product revenue tied to shipment. They also pay for software licenses and royalties on products sold; development contract revenue comes when work is completed or, under some contracts, as it progresses.

revenue

Segment	Share	How money arrives
Product Revenue Sold outright	51%	Sold outright
License and Royalty Revenue Licensed	46% FY2022: 100%	Licensed
Contract Revenue	4.0%

Who Are Their Customers?

Potential accounts are approached directly by business development representatives, with engineers supporting them during product design; the company also seeks co-development relationships.

Customers above 10% of revenue, FY2025

of revenue from four customers (42%, 19%, 15%, 12%)

FY2024: 83% from three customers

Do Revenues Turn Into Profits?

No. It lost $95M in FY2025.

Operating income, FY2025

−6857% of revenue

▼ −3% (Loss) vs FY2024 (−$85.5M, −1821%)

Net income, FY2025

−7863% of revenue

▼ −2% (Loss) vs FY2024 (−$96.9M, −2064%)

Free cash flow, FY2025

−4917% of revenue

▼ −14% (Loss) vs FY2024 (−$68.9M, −1468%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +896%; vs $241K in Q3 FY2025
Net income: ▼ −14% (Loss); vs −$14.2M in Q3 FY2025

Product Revenue share of revenue vs 11.6% in Q3 FY2025

Aug 31, 2026 Regained Nasdaq minimum-bid-price compliance Nasdaq closed the matter after MicroVision regained compliance with the minimum bid-price rule.
Aug 10, 2026 Christine Chambers appointed CFO, replacing interim CFO She takes the role effective August 27, 2026; Stephen Hrynewich remains in a senior finance role.
Aug 6, 2026 Raised full-year cash-burn guidance to approximately $60 million The company cited expected second-half normalization following non-recurring first-half cash use.
Jun 10, 2026 Signed development agreement for autonomous hauling lidar integration The initial program uses IRIS sensors on autonomous hauling trucks, with potential later integration of HALO.

Shrinking. Revenue fell 52% in 4 years, from $2.5M in FY2021 to $1.2M in FY2025, about 17% a year.

Broader target markets The older report centered on automotive lidar and described industrial, robotics, and smart infrastructure as complementary markets. The latest report also targets security and defense, including aerial and unmanned applications.

Less emphasis on validation software The earlier product suite included validation software for vehicle sensors; the latest report says MicroVision reduced investment in its MOSAIK validation tool and refocused resources on perception software and lidar products.

Revenue over time

Product Revenue License and Royalty Revenue Contract Revenue

$10M$5M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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