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Mar 31, 2024

MicroVision Q1 2024 Earnings Report

Announced first quarter 2024 results, highlighting OEM engagement and pursuit of near-term revenue opportunities.

Key Takeaways

MicroVision reported its Q1 2024 results, emphasizing ongoing engagement with automotive OEMs and a strategic focus on securing near-term revenue opportunities within industrial markets and through partnerships, while maintaining fiscal discipline.

Remained confident in engagement with automotive OEMs due to positive feedback.

Actively pursuing near-term revenue opportunities in industrial markets and partnerships.

Committed to establishing itself as a leading automotive OEM supplier of lidar hardware and software solutions.

Focused on fiscal discipline amidst automotive industry headwinds.

Total Revenue
$956K
Previous year: $782K
+22.3%
EPS
-$0.13
Previous year: -$0.11
+18.2%
Gross Profit
-$2.12M
Previous year: $238K
-991.2%
Cash and Equivalents
$73.1M
Previous year: $23.2M
+215.4%
Free Cash Flow
-$20.9M
Previous year: -$14.1M
+48.1%
Total Assets
$124M
Previous year: $123M
+0.7%

MicroVision

MicroVision

Forward Guidance

MicroVision provided forward-looking statements regarding customer engagement, revenue opportunities, expense reduction, market position, product portfolio and capabilities and expected revenue, expenses and cash usage.