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Jun 30, 2022
MicroVision Q2 2022 Earnings Report
MicroVision announced Q2 2022 results, including revenue of $0.3 million and a net loss of $13.6 million.
Key Takeaways
MicroVision reported second quarter 2022 results with revenue of $0.3 million and a net loss of $13.6 million, or $0.08 per share. The company launched its new generation MicroVision MAVIN™ lidar hardware and expects to start strategic sample sales during the second half of 2022.
Launched new generation MicroVision MAVIN™ lidar hardware in Q2 2022.
Completed track testing showcasing product capabilities in complex highway driving scenarios.
Expects to start strategic sample sales during the second half of 2022.
Plans to demonstrate a drive-by-wire system in 2023 centered on lidar hardware and ADAS software.
MicroVision
MicroVision
Forward Guidance
MicroVision anticipates engaging with OEMs and Tier 1s, expecting to start strategic sample sales in the latter half of 2022. The company plans to demonstrate a drive-by-wire system in 2023.
Positive Outlook
- Successful engagement with OEMs and Tier 1s
- Expected start of strategic sample sales in the second half of 2022
- Plans to demonstrate a drive-by-wire system in 2023
- Continued focus on delivering 2022 objectives
- Highlighting the excellence and superiority of their product
Challenges Ahead
- Risk its ability to operate with limited cash
- Market acceptance of its technologies and products
- Failure of its commercial partners to perform as expected
- Dependence on third parties to develop, manufacture, sell and market its products
- Potential product liability claims