NASDAQ: MVIS
MICROVISION, INC.CIK 0000065770 · SIC 3679 · Electronic Components NEC
MicroVision, Inc. is defining the next generation of lidar-based perception solutions for automotive, industrial, and security & defense markets. We deliver integrated hardware and software solutions designed for real-world performance, automotive-grade reliability, and economic scalability. Our… About this business →
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MicroVision prices $17M primary offering of 6.8M shares with warrants at $2.50 per unit
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MicroVision files 424B5 for best-efforts offering of stock and warrants; terms left blank
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MicroVision files to sell common stock from time to time via ATM; last sale $0.36
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | 1,473 | 155 | 2,408 | 744 |
| Cost of revenue | 831 | 716 | 1,403 | 1,266 |
| Gross profit (loss) | 642 | (561) | 1,005 | (522) |
| Research and development expense | 15,702 | 7,658 | 30,147 | 15,061 |
| Sales, marketing, general and administrative expense | 9,211 | 6,437 | 18,722 | 13,113 |
| Impairment loss on operating lease right-of-use assets | - | - | 9 | - |
| Gain on disposal of fixed assets | (60) | - | (168) | - |
| Total operating expenses | 24,853 | 14,095 | 48,710 | 28,174 |
| Loss from operations | (24,211) | (14,656) | (47,705) | (28,696) |
| Interest expense | (5,480) | (2,170) | (8,233) | (15,073) |
| Unrealized gain (loss) on derivative liability | (8,035) | 1,952 | (4,655) | 2,794 |
| Unrealized gain on warrant liability | 891 | 803 | 1,495 | 2,564 |
| Realized loss on debt extinguishment | - | - | (3,083) | (4,654) |
| Bargain purchase gain | - | - | 147 | - |
| Other income (expense) | 73 | (65) | 160 | 223 |
| Net loss before taxes | (36,762) | (14,136) | (61,874) | (42,842) |
| Income tax expense | (181) | (93) | (363) | (166) |
| Net loss | (36,943) | (14,229) | (62,237) | (43,008) |
| Net loss per share basic and diluted | (1.66) | (0.84) | (2.90) | (2.63) |
| Weighted-average shares outstanding basic and diluted | 22,296 | 16,977 | 21,441 | 16,356 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 27,208 | 32,363 |
| Investment securities, available-for-sale | - | 42,471 |
| Restricted cash, current | 482 | 497 |
| Accounts receivable, net of allowances | 915 | 47 |
| Inventory | 3,660 | 745 |
| Other current assets | 2,021 | 4,989 |
| Total current assets | 34,286 | 81,112 |
| Property and equipment, net | 15,787 | 4,280 |
| Operating lease right-of-use assets | 17,655 | 14,075 |
| Restricted cash, net of current portion | 1,184 | 1,204 |
| Intangible assets, net | 13,684 | 32 |
| Goodwill | 3,677 | - |
| Other assets | 2,334 | 2,416 |
| Total assets | 88,607 | 103,119 |
| Liabilities and shareholders’ equity | ||
| Current liabilities | ||
| Accounts payable | 5,876 | 1,628 |
| Accrued liabilities | 7,511 | 5,426 |
| Deferred revenue | 253 | - |
| Derivative liability | 7,050 | - |
| Notes payable | 24,559 | 19,212 |
| Operating lease liabilities, current | 5,119 | 3,481 |
| Finance lease liabilities, current | 13 | 14 |
| Other current liabilities | 43 | 388 |
| Total current liabilities | 50,424 | 30,149 |
| Warrant liability | 380 | 1,875 |
| Operating lease liabilities, net of current portion | 15,743 | 14,034 |
| Finance lease liabilities, net of current portion | 17 | 27 |
| Other long-term liabilities | 1,424 | 1,486 |
| Total liabilities | 67,988 | 47,571 |
| Commitments and contingencies (Note 12) | ||
| Shareholders’ equity (Note 2) | ||
| Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | - | - |
| Common stock, par value $0.001; 150,000 shares authorized; 23,350 and 20,434 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 23 | 20 |
| Additional paid-in capital | 1,039,358 | 1,012,121 |
| Accumulated other comprehensive income | 737 | 669 |
| Accumulated deficit | (1,019,499) | (957,262) |
| Total shareholders’ equity | 20,619 | 55,548 |
| Total liabilities and shareholders’ equity | 88,607 | 103,119 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (62,237) | (43,008) |
| Adjustments to reconcile net loss to net cash used in operations: | ||
| Depreciation and amortization | 5,344 | 2,952 |
| Unrealized (gain) loss on derivative liability | 4,655 | (2,794) |
| Unrealized gain on warrant liability | (1,495) | (2,564) |
| Loss on debt extinguishment | 3,083 | 4,654 |
| Bargain purchase gain | (147) | - |
| Gain on disposal of fixed assets | (168) | - |
| Impairment of operating lease right-of-use assets | 9 | - |
| Inventory write-downs | 52 | - |
| Non-cash interest expense | - | 7,325 |
| Amortization of debt discount and issuance costs on notes payable | 8,219 | 7,723 |
| Share-based compensation expense | 2,287 | 3,851 |
| Net accretion of premium on short-term investments | (81) | (195) |
| Change in: | ||
| Accounts receivable | (868) | 822 |
| Inventory | 833 | (3,796) |
| Other current and non-current assets | 1,115 | (210) |
| Accounts payable | 4,248 | 432 |
| Accrued liabilities | 2,085 | (275) |
| Contract liabilities and other current liabilities | (92) | (450) |
| Operating lease liabilities | (2,409) | (1,097) |
| Other long-term liabilities | (21) | (197) |
| Net cash used in operating activities | (35,588) | (26,827) |
| Cash flows from investing activities | ||
| Sales of investment securities | 42,528 | 22,402 |
| Purchases of investment securities | - | (19,326) |
| Purchases of property and equipment | (448) | (307) |
| Cash paid for business combination | (33,178) | - |
| Net cash provided by investing activities | 8,902 | 2,769 |
| Cash flows from financing activities | ||
| Principal payments under finance leases | (8) | (6) |
| Principal proceeds from notes payable, net of debt discount and issuance costs | 20,624 | - |
| Net proceeds from issuance of common stock and warrants | 769 | 43,289 |
| Net cash provided by financing activities | 21,385 | 43,283 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 111 | 319 |
| Change in cash, cash equivalents, and restricted cash | (5,190) | 19,544 |
| Cash, cash equivalents, and restricted cash at beginning of period | 34,064 | 56,247 |
| Cash, cash equivalents, and restricted cash at end of period | 28,874 | 75,791 |
| Supplemental schedule of non-cash investing and financing activities | ||
| Common stock issued in conversions of notes payable | 24,184 | 21,980 |
| Issuance of warrants | - | 6,297 |
| Acquisition of right-of-use asset | 5,487 | 67 |
| Foreign currency translation adjustment | 92 | 540 |
| Unrealized loss on investment securities, available-for-sale | (24) | (22) |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About MICROVISION, INC.
Source: Item 1 (Business) from the 10-K filed March 4, 2026. Description as filed by the company with the SEC.
ITEM
1. BUSINESS
Overview
MicroVision,
Inc. is defining the next generation of lidar-based perception solutions for automotive, industrial, and security & defense markets.
We deliver integrated hardware and software solutions designed for real-world performance, automotive-grade reliability, and economic
scalability. Our diverse portfolio of lidar sensors, with both short- and long-range lidar solutions, feature solid-state sensors with
varying wavelengths, advanced sensor architectures, design-to-cost engineering, and open software solutions.
Our
solutions enable advanced driver assistance systems, or ADAS, and autonomy features for customers in a wide range of markets, including
automotive, industrial, and security & defense. Target industrial sectors include robotics, automated warehouse, agriculture, and
mining. Our integrated hardware and software solutions enable intelligent autonomous, active safety, and automation systems which depend
on secure, cost-effective, and energy-efficient solutions. Our software has been developed in close collaboration with automotive customers
and also has broad application in industrial, defense, and commercial vehicle sectors.
With
engineering teams in the U.S. and Germany, we develop and supply integrated solutions, incorporating application software and processing
data from differentiated sensor systems. Our extensive experience in developing and productizing core lidar hardware and software components,
along with our expertise in edge computing, positions us as a valuable commercial partner capable of delivering high-value, low-power
products.
Read full description ↓
Founded
in 1993, MicroVision, Inc. is a pioneer in laser beam scanning, or LBS technology, which is based on our patented technology in micro-electromechanical
systems, or MEMS, laser diodes, opto-mechanics, electronics, algorithms and software and how those elements are packaged into a small
form factor. Throughout our history, we have combined our proprietary technology with our development expertise to create innovative
solutions to address existing and emerging market needs, such as augmented reality microdisplay engines; interactive display modules;
consumer lidar components; and, more recently, lidar sensors and software solutions for automotive, industrial, and security & defense
markets.
In
January 2023, we acquired certain strategic assets of Germany-based Ibeo Automotive Systems GmbH, which was founded in 1998 as a lidar
hardware and software provider. Ibeo developed and launched the first lidar sensor to be automotive qualified for serial production with
a premium, or Tier 1, automotive supplier and that is currently available in passenger cars by premium original equipment manufacturers,
or OEMs. Ibeo developed software solutions, including perception and validation software, also used by premium OEMs. In addition, Ibeo
sold its products for non-automotive uses such as industrial, agriculture, smart infrastructure, and robotics applications.
In
January 2026, we completed the acquisition of assets from Scantinel Photonics GmbH, based in Germany. Scantinel develops a unique lidar-on-chip
solution, utilizing 1550nm frequency-modulated continuous wave, or FMCW, technology. Our 1550nm FMCW lidar solution has applications
for long-range use cases across our target markets, with particularly compelling advantages for the commercial vehicle market.
3
In
February 2026, we completed the strategic acquisition of assets primarily comprising the worldwide lidar business of Luminar Technologies,
Inc. The acquired assets include the IRIS sensor, a 1550nm time-of-flight long-range lidar, and its next generation HALO sensor, built
off the same architecture as IRIS but with improved performance and reduced size and cost. The automotive-grade IRIS sensor achieved
start of production in April 2024, with subsequent deliveries used in vehicles for road data collection and system training. The acquisition
also included SENTINEL, under development as a full-stack software platform supporting safety and autonomy applications for passenger
vehicles and commercial trucks.
Our
hardware solutions include a broad and multi-featured portfolio of lidar sensors, which can be integrated with our software or with our
customers’ software, targeted for sale to automotive OEMs and Tier 1 suppliers, industrial mobility and autonomy companies, and
security & defense contractors. Our lidar sensors, all solid state, include MOVIA™, a flash-based short- to mid-range sensor;
MAVIN™, a MEMS-based 905nm long-range sensor capable of small object detection; IRIS and HALO, each a 1550nm long-range sensor;
and our Scantinel 1550nm long-range FMCW lidar. Our software stack has met the rigorous requirements of automotive qualification and
incorporates advanced features, like localization and fusion. We also develop customer-specific application software, allowing expansion
into a wide array of sectors.
In
2025, we recorded an impairment charge of $10.1 million in connection with perception software acquired from Ibeo, a $9.9 million
write-down of select MOVIA L sensor inventory, as well as a $2.2 million impairment charge associated with certain production
machinery and tooling equipment related to our MAVIN sensor. Additionally, in 2025, we recorded an adverse purchase commitment of
$3.2 million related to the production of select MOVIA L sensor inventory. See