Microvision (MVIS)
Market Price (5/26/2026): $0.623 | Market Cap: $192.3 MilSector: Information Technology | Industry: Communications Equipment
Microvision (MVIS)
Market Price (5/26/2026): $0.623Market Cap: $192.3 MilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41% Megatrend and thematic driversMegatrends include Autonomous Technologies, and Electric Vehicles & Autonomous Driving. Themes include Machine Vision, and Autonomous Driving Technology. | Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -160% | Penny stockMkt Price is 0.6 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -79 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5080% Expensive valuation multiplesP/SPrice/Sales ratio is 123x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -64% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3930%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3976% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -52% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.73, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% Key risksMVIS key risks include [1] a substantial accumulated deficit and ongoing need for future financing, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -41% |
| Megatrend and thematic driversMegatrends include Autonomous Technologies, and Electric Vehicles & Autonomous Driving. Themes include Machine Vision, and Autonomous Driving Technology. |
| Weak multi-year price returns2Y Excs Rtn is -87%, 3Y Excs Rtn is -160% |
| Penny stockMkt Price is 0.6 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -79 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -5080% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 123x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -64% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3930%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3976% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -52% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.73, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21% |
| Key risksMVIS key risks include [1] a substantial accumulated deficit and ongoing need for future financing, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Significant Miss on Q4 2025 Revenue and Higher-than-expected Losses.
Microvision reported its fourth-quarter 2025 results on March 4, 2026, with revenue of $0.2 million, significantly missing the consensus estimate of $3.00 million. The company also posted a net loss of $37.8 million, or $0.12 per share, which was worse than the consensus estimate of a $0.05 loss per share.
2. Continued Revenue Shortfall and Sizable Losses in Q1 2026.
For the first quarter of 2026, reported on May 13, 2026, Microvision's revenue of $0.9 million fell considerably short of the anticipated $3.43 million, representing a 73.76% miss. The company's net loss for the quarter was $25.3 million, or $0.08 per share, which was worse than analysts' expectations, indicating ongoing challenges in achieving profitability despite a 50% year-over-year revenue increase.
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Stock Movement Drivers
Fundamental Drivers
The -23.3% change in MVIS stock from 1/31/2026 to 5/25/2026 was primarily driven by a -41.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.81 | 0.62 | -23.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 2 | -41.0% |
| P/S Multiple | 91.1 | 123.8 | 35.8% |
| Shares Outstanding (Mil) | 295 | 309 | -4.3% |
| Cumulative Contribution | -23.3% |
Market Drivers
1/31/2026 to 5/25/2026| Return | Correlation | |
|---|---|---|
| MVIS | -23.3% | |
| Market (SPY) | 8.1% | 45.4% |
| Sector (XLK) | 25.5% | 40.8% |
Fundamental Drivers
The -46.7% change in MVIS stock from 10/31/2025 to 5/25/2026 was primarily driven by a -39.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.17 | 0.62 | -46.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 2 | -39.9% |
| P/S Multiple | 115.3 | 123.8 | 7.3% |
| Shares Outstanding (Mil) | 255 | 309 | -17.5% |
| Cumulative Contribution | -46.7% |
Market Drivers
10/31/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| MVIS | -46.7% | |
| Market (SPY) | 9.9% | 44.0% |
| Sector (XLK) | 20.3% | 41.0% |
Fundamental Drivers
The -44.9% change in MVIS stock from 4/30/2025 to 5/25/2026 was primarily driven by a -66.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.13 | 0.62 | -44.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5 | 2 | -66.9% |
| P/S Multiple | 52.8 | 123.8 | 134.3% |
| Shares Outstanding (Mil) | 220 | 309 | -28.9% |
| Cumulative Contribution | -44.9% |
Market Drivers
4/30/2025 to 5/25/2026| Return | Correlation | |
|---|---|---|
| MVIS | -44.9% | |
| Market (SPY) | 36.0% | 39.2% |
| Sector (XLK) | 72.8% | 35.4% |
Fundamental Drivers
The -68.8% change in MVIS stock from 4/30/2023 to 5/25/2026 was primarily driven by a -75.6% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5252026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.00 | 0.62 | -68.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1 | 2 | 134.0% |
| P/S Multiple | 507.0 | 123.8 | -75.6% |
| Shares Outstanding (Mil) | 168 | 309 | -45.5% |
| Cumulative Contribution | -68.8% |
Market Drivers
4/30/2023 to 5/25/2026| Return | Correlation | |
|---|---|---|
| MVIS | -68.8% | |
| Market (SPY) | 86.3% | 34.3% |
| Sector (XLK) | 144.2% | 31.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MVIS Return | -7% | -53% | 13% | -51% | -37% | -27% | -89% |
| Peers Return | -26% | -81% | -19% | 2% | 93% | 59% | -65% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| MVIS Win Rate | 50% | 50% | 50% | 25% | 33% | 20% | |
| Peers Win Rate | 42% | 31% | 38% | 54% | 46% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| MVIS Max Drawdown | -81% | -62% | -76% | -70% | -55% | -46% | |
| Peers Max Drawdown | -69% | -85% | -75% | -72% | -70% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: OUST, AEVA, LIDR, KOPN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)
How Low Can It Go
| Event | MVIS | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -24.4% | -7.8% |
| % Gain to Breakeven | 32.3% | 8.5% |
| Time to Breakeven | 41 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.3% | -6.7% |
| % Gain to Breakeven | 52.2% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -51.5% | -24.5% |
| % Gain to Breakeven | 106.4% | 32.4% |
| Time to Breakeven | 85 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.7% | -33.7% |
| % Gain to Breakeven | 279.7% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -61.6% | -19.2% |
| % Gain to Breakeven | 160.8% | 23.8% |
| Time to Breakeven | 550 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -28.2% | -3.7% |
| % Gain to Breakeven | 39.3% | 3.9% |
| Time to Breakeven | 9 days | 6 days |
In The Past
Microvision's stock fell -24.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 32.3% gain to breakeven.
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Asset Allocation
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| Event | MVIS | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -24.4% | -7.8% |
| % Gain to Breakeven | 32.3% | 8.5% |
| Time to Breakeven | 41 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.3% | -6.7% |
| % Gain to Breakeven | 52.2% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -51.5% | -24.5% |
| % Gain to Breakeven | 106.4% | 32.4% |
| Time to Breakeven | 85 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -73.7% | -33.7% |
| % Gain to Breakeven | 279.7% | 50.9% |
| Time to Breakeven | 49 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -61.6% | -19.2% |
| % Gain to Breakeven | 160.8% | 23.8% |
| Time to Breakeven | 550 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -28.2% | -3.7% |
| % Gain to Breakeven | 39.3% | 3.9% |
| Time to Breakeven | 9 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -41.4% | -12.2% |
| % Gain to Breakeven | 70.7% | 13.9% |
| Time to Breakeven | 1733 days | 62 days |
| 2013 Taper Tantrum | ||
| % Loss | -45.7% | -0.2% |
| % Gain to Breakeven | 84.1% | 0.2% |
| Time to Breakeven | 63 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -47.0% | -17.9% |
| % Gain to Breakeven | 88.7% | 21.8% |
| Time to Breakeven | 3412 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -26.7% | -15.4% |
| % Gain to Breakeven | 36.4% | 18.2% |
| Time to Breakeven | 33 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -81.3% | -53.4% |
| % Gain to Breakeven | 433.8% | 114.4% |
| Time to Breakeven | 188 days | 1085 days |
In The Past
Microvision's stock fell -24.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 32.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Microvision (MVIS)
AI Analysis | Feedback
Here are a few brief analogies for MicroVision:
A Mobileye for lidar sensors in self-driving cars.
The Intel or Qualcomm for advanced lidar technology.
AI Analysis | Feedback
- Lidar Sensors: Developed for automotive safety and autonomous driving applications.
- AR Micro-displays and Modules: Concepts, designs, and MEMS modules specifically for head-mounted augmented reality (AR) headsets.
- Interactive Display Modules: Modules designed for use in smart speakers and other devices.
- Consumer Lidar: Lidar technology utilized in smart home systems.
- PicoP Scanning Technology: A scanning technology providing full-color, high-contrast images from a compact module.
AI Analysis | Feedback
Microvision (MVIS) primarily sells its products to other companies. Based on the provided information, its major customers are:
- Original Equipment Manufacturers (OEMs)
- Original Design Manufacturers (ODMs)
The provided background information does not specify the names of these individual customer companies or their public symbols.
AI Analysis | Feedback
nullAI Analysis | Feedback
MicroVision (MVIS) Management Team:Glen DeVos, Chief Executive Officer & Director
Glen DeVos is a seasoned global technology executive with more than four decades of leadership in automotive, mobility, and advanced electronics innovation. He became MicroVision's Chief Executive Officer effective September 30, 2025, after previously serving as the company's Chief Technology Officer, a role he assumed in March 2025. Prior to joining MicroVision, Mr. DeVos spent over 30 years at Aptiv and its predecessor Delphi, where he held a series of increasingly senior global leadership roles, including Senior Vice President, Chief Technology Officer, and President of multiple business units such as Advanced Safety & User Experience and Mobility & Services. In these roles, he led large-scale, multi-billion-dollar portfolios spanning autonomous driving, software-defined vehicle architecture, connectivity, cloud platforms, and smart city technologies.
Stephen Hrynewich, Interim Chief Financial Officer
Stephen Hrynewich was appointed Interim Chief Financial Officer of MicroVision, effective no later than December 31, 2025, following the resignation of Anubhav Verma. He has served as MicroVision’s Vice President, Global Finance & Operations since August 2023. Prior to his time at MicroVision, Mr. Hrynewich served as Director of Corporate Finance at Lucid Group, Inc. starting in 2021. He also held various finance roles at Republic Services from 2018 to 2020. His earlier experience includes positions at prominent automotive manufacturers such as General Motors, Nissan North America, Mazda Motor Corporation, and Ford Motor Company.
Drew Markham, General Counsel & Secretary, Senior Vice President People Operations
Drew Markham is a seasoned legal and business executive with over three decades of experience in public company governance, technology, corporate strategy, and people operations. She joined MicroVision in 2021 and currently oversees the company's global legal strategy, corporate governance, compliance, SEC reporting, board engagement, human resources, and organizational development. Ms. Markham has played a central role in guiding MicroVision through strategic transformation, capital markets activity, M&A initiatives, and organizational scaling. Before joining MicroVision, she advised publicly traded and growth-stage technology companies on strategic M&A, governance, compliance, risk management, and operational leadership, having spent 14 years at Wilson Sonsini Goodrich & Rosati, P.C. and eight years with RealNetworks, Inc., including as Vice President, Deputy General Counsel and Assistant Secretary.
Greg Scharenbroch, Vice President of Global Engineering
Greg Scharenbroch is a veteran engineering leader with over 30 years of experience building and scaling global technology organizations at the forefront of automotive innovation. He currently serves as Vice President of Global Engineering at MicroVision, where he leads the development and commercialization of advanced automotive lidar and perception systems designed to enable safer, smarter mobility for global OEMs. Mr. Scharenbroch is responsible for guiding MicroVision's global engineering strategy, aligning product development with commercialization goals, and advancing high-performance perception technologies.
Fabio Laura, Vice President, Product Engineering & Operations
Fabio Laura is an innovative engineering executive with over 25 years of global experience leading multidisciplinary teams across mechanical, thermal, structural, and systems engineering. He currently serves as Vice President of Product Engineering & Operations at MicroVision, where he leads end-to-end product development and operational execution, guiding advanced hardware technologies from concept through productization. At MicroVision, he oversees product engineering strategy, resource allocation, and cross-functional execution to ensure alignment between technical innovation and business objectives. Prior to MicroVision, Mr. Laura held various leadership roles at Webasto Group, including Design and Product Engineer Manager, Engineering Manager, Director of R&D in Italy, and Vice President of R&D/Program Management for Webasto Americas. He also worked at Comau as a CAE Analyst and later as a CAE Team Leader and Calculation and Simulation responsible.
AI Analysis | Feedback
Here are the key risks to MicroVision's business:- Persistent Operating Losses, High Cash Burn, and Need for Additional Capital: MicroVision has a history of significant operating losses and is expected to incur substantial losses and negative cash flow into the foreseeable future. The company's high cash burn rate necessitates a continuous need for additional capital, which can lead to further dilution for existing shareholders through equity financing or convertible notes. For example, as of December 31, 2025, MicroVision reported an accumulated deficit of $957.3 million and a net loss of $95.0 million for 2025.
- Uncertainty of Commercialization and Market Adoption: MicroVision operates as a pre-commercialization business, meaning the timeline and ability to convert its innovative lidar technology into high-volume, profitable sales remain uncertain. Despite its technological advancements, the company faces challenges in achieving meaningful commercialization, as evidenced by declining revenue. Securing major automotive production contracts and ensuring widespread market adoption of its lidar solutions are critical for its financial success.
- Intense Competition and Rapid Technological Change: The lidar industry is characterized by rapid technological advancements and fierce competition from numerous players. There is a significant risk that new technologies could emerge and render MicroVision's current products obsolete or commercially unfeasible. The company's ability to maintain technological leadership and effectively integrate acquired assets (such as from Ibeo, Scantinel Photonics, and Luminar) to compete effectively is crucial.
AI Analysis | Feedback
nullAI Analysis | Feedback
MicroVision, Inc. (MVIS) operates in several technology sectors, with its main products addressing markets in automotive lidar, augmented reality (AR) headsets, and smart home systems.
Automotive Lidar
The global addressable market for automotive lidar sensors is experiencing substantial growth. The global automotive LiDAR market size is projected to reach US$ 6,464.4 million by 2033, growing at a compound annual growth rate (CAGR) of 31.3% between 2026 and 2033. Other estimates suggest the global automotive LiDAR market was valued at USD 1.90 billion in 2025 and is predicted to increase to approximately USD 9.94 billion by 2035, with a CAGR of 18.00% from 2026 to 2035. Another report valued the global automotive LiDAR market at USD 4.16 billion in 2025, anticipating growth to USD 12.07 billion by 2034, at a CAGR of 12.62%. More broadly, the global LiDAR market, which includes automotive and non-automotive applications, was valued at USD 2.89 billion in 2025 and is projected to reach approximately USD 17.80 billion by 2035, growing at a CAGR of 19.94% from 2026 to 2035.
Augmented Reality (AR) Headsets
For AR headsets, which include MicroVision's micro-display concepts and designs, the global market is also expanding significantly. The global augmented reality headsets market size was valued at USD 5.13 billion in 2023 and is projected to reach USD 44.65 billion by 2030, demonstrating a CAGR of 37.4% from 2024 to 2030. North America held a significant share of this market, accounting for 38.9% of revenue in 2023. When considering the combined AR and VR headsets market, the global size was estimated at USD 1.60 billion in 2025 and is predicted to increase to approximately USD 35.48 billion by 2035, with a CAGR of 36.33% from 2026 to 2035. Specifically for AR and VR Smart Glasses, the global market was worth around USD 16.6 billion in 2023 and is predicted to grow to around USD 47.9 billion by 2032, at a CAGR of approximately 12.5% between 2024 and 2032.
Smart Home Systems (including Consumer Lidar and Interactive Display Modules)
MicroVision's consumer lidar and interactive display modules are integral to the broader smart home market. The global smart home market size was valued at USD 127.80 billion in 2024 and is projected to reach USD 537.27 billion by 2030, growing at a CAGR of 27.0% from 2025 to 2030. Another estimate places the global smart home market at USD 183.2 billion in 2024, with a forecast to grow to USD 414.2 billion by 2034 at a CAGR of 8.5%. North America held a significant share of over 25% in the smart home market in 2024.
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MicroVision, Inc. (MVIS) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market expansions:
- Expansion in the Automotive Lidar Market with Lidar 2.0: MicroVision is undergoing a strategic pivot to "Lidar 2.0," focusing on a software-centric, diversified, and scalable product portfolio for automotive safety and autonomous driving applications. While major automotive revenue is anticipated towards the end of the decade (2028-2029), the company is seeing new commercial shipments and strong interest in its combined product roadmap following recent acquisitions. Products like Movia S and Movia L are integral to these efforts for both automotive and industrial uses.
- Growth in Industrial Sector Sales: The industrial sector currently serves as MicroVision's primary revenue source and is expected to be a significant contributor to its 2026 revenue guidance of $10 million to $15 million. The company provides cost-effective, durable, and application-ready lidar solutions for industrial automation, including Advanced Driver-Assistance Systems (ADAS) and fully automated forklifts.
- Penetration into the Security & Defense Market: MicroVision is actively expanding its presence in the security and defense sectors. This includes making rapid progress with proof-of-concept completions for drone and ground-based autonomy, ongoing shipments to a European defense Original Equipment Manufacturer (OEM), and upcoming public demonstrations. Specific products such as Movia Air and Maven Air are designed for military drones and real-time mapping in challenging defense applications.
- Strategic Acquisitions and Portfolio Expansion: Recent acquisitions, including assets from Luminar (Iris and Halo lidar sensors) and Scantinel, are crucial for expanding MicroVision's product portfolio and customer base. These acquisitions accelerate revenue opportunities by creating a more comprehensive and robust lidar technology offering, with integration expected to generate synergies and lead to a broader range of solutions.
- Shift Towards a Software-Centric Business Model: MicroVision is moving beyond hardware-focused solutions to embrace a software-centric lidar model. This strategic shift aims to create a diversified and scalable product portfolio, potentially unlocking new revenue streams through advanced software offerings that enhance the performance and utility of their lidar sensors.
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Capital Allocation Decisions for MicroVision (MVIS) (Last 3-5 Years)
Share Issuance
- MicroVision has frequently utilized equity offerings to bolster its financial position, raising approximately $150 million through at-the-market (ATM) equity facilities and $75 million in capital commitments by April 2025.
- In Q2 2025, the company raised a net of $35 million from an At-The-Market (ATM) facility, with access to an additional $113.4 million under the facility as of March 31, 2025.
- The company issued approximately 11.7 million shares of common stock in February 2025 as part of a debt reduction initiative, converting $9.6 million of a convertible note principal. Shares outstanding significantly increased from 152.9 million at the end of 2020 to 306.6 million by February 2026.
Inbound Investments
- MicroVision secured its liquidity by entering into an agreement for up to $75 million in senior secured convertible notes in October 2024.
- In February 2026, the company issued new senior secured convertible notes totaling $43.0 million, partly in exchange for an existing note due in March 2026, to defer repayment obligations and strengthen its balance sheet.
- As of March 31, 2025, MicroVision had access to $30 million from the remaining commitment under its convertible note facility.
Outbound Investments
- In January 2023, MicroVision acquired strategic assets of Germany-based Ibeo Automotive Systems, expanding its product portfolio and global reach for automotive and multi-market solutions. This acquisition involved advances totaling approximately $7.8 million (EUR 7.2 million) across late 2022 and early 2023.
- The company completed the acquisitions of Luminar's worldwide lidar business and Scantinel Photonics in early 2026, thereby expanding its lidar portfolio to include IRIS, HALO, and FMCW sensor technologies.
Capital Expenditures
- Capital expenditures were reported as minimal in certain periods, with $0.1 million in Q3 2025.
- For Q4 2025, capital expenditures totaled $244K, reflecting an increase from the prior quarter.
- Total capital expenditures consumed $679K of operating cash flow during 2025.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Microvision Earnings Notes | 12/16/2025 | |
| Is Microvision Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 5.14 |
| Mkt Cap | 1.0 |
| Rev LTM | 21 |
| Op Inc LTM | -69 |
| FCF LTM | -62 |
| FCF 3Y Avg | -66 |
| CFO LTM | -42 |
| CFO 3Y Avg | -55 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.8% |
| Rev Chg 3Y Avg | 56.8% |
| Rev Chg Q | 57.8% |
| QoQ Delta Rev Chg LTM | 15.9% |
| Op Inc Chg LTM | -6.4% |
| Op Inc Chg 3Y Avg | 5.2% |
| Op Mgn LTM | -630.9% |
| Op Mgn 3Y Avg | -1,597.1% |
| QoQ Delta Op Mgn LTM | 74.9% |
| CFO/Rev LTM | -525.1% |
| CFO/Rev 3Y Avg | -1,239.1% |
| FCF/Rev LTM | -555.5% |
| FCF/Rev 3Y Avg | -1,302.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.0 |
| P/S | 75.8 |
| P/Op Inc | -12.0 |
| P/EBIT | -12.1 |
| P/E | -2.5 |
| P/CFO | -14.4 |
| Total Yield | -9.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -24.5% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 31.2% |
| 3M Rtn | 103.2% |
| 6M Rtn | 73.3% |
| 12M Rtn | 140.5% |
| 3Y Rtn | 195.4% |
| 1M Excs Rtn | 35.1% |
| 3M Excs Rtn | 93.9% |
| 6M Excs Rtn | 64.2% |
| 12M Excs Rtn | 139.4% |
| 3Y Excs Rtn | 187.4% |
Price Behavior
| Market Price | $0.62 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 08/27/1996 | |
| Distance from 52W High | -58.5% | |
| 50 Days | 200 Days | |
| DMA Price | $0.64 | $0.91 |
| DMA Trend | down | down |
| Distance from DMA | -2.5% | -31.7% |
| 3M | 1YR | |
| Volatility | 108.5% | 82.6% |
| Downside Capture | 412.59 | 388.63 |
| Upside Capture | 184.77 | 206.44 |
| Correlation (SPY) | 41.0% | 41.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.02 | 3.25 | 3.63 | 3.17 | 2.64 | 2.05 |
| Up Beta | 5.11 | 4.45 | 4.65 | 3.76 | 2.64 | 2.02 |
| Down Beta | 14.38 | 3.89 | 3.09 | 2.93 | 2.75 | 1.29 |
| Up Capture | 122% | 186% | 291% | 264% | 265% | 1264% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 22 | 29 | 59 | 119 | 331 |
| Down Capture | 747% | 327% | 329% | 251% | 196% | 113% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 21 | 35 | 64 | 116 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MVIS | |
|---|---|---|---|---|
| MVIS | -42.9% | 82.9% | -0.30 | - |
| Sector ETF (XLK) | 58.5% | 20.5% | 2.13 | 38.5% |
| Equity (SPY) | 29.5% | 12.0% | 1.86 | 42.3% |
| Gold (GLD) | 35.5% | 26.8% | 1.11 | 7.7% |
| Commodities (DBC) | 42.9% | 18.7% | 1.77 | -6.0% |
| Real Estate (VNQ) | 15.2% | 13.1% | 0.82 | 23.7% |
| Bitcoin (BTCUSD) | -31.3% | 41.8% | -0.78 | 35.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MVIS | |
|---|---|---|---|---|
| MVIS | -47.5% | 88.5% | -0.33 | - |
| Sector ETF (XLK) | 22.7% | 24.8% | 0.80 | 40.2% |
| Equity (SPY) | 14.0% | 17.0% | 0.64 | 41.6% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 8.5% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 8.6% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 33.3% |
| Bitcoin (BTCUSD) | 11.6% | 55.3% | 0.41 | 24.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MVIS | |
|---|---|---|---|---|
| MVIS | -10.7% | 114.0% | 0.39 | - |
| Sector ETF (XLK) | 25.3% | 24.4% | 0.93 | 25.6% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 24.5% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 6.4% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 9.0% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 17.0% |
| Bitcoin (BTCUSD) | 66.7% | 66.9% | 1.06 | 12.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -21.1% | -22.4% | |
| 3/4/2026 | -29.1% | -27.5% | -18.6% |
| 11/12/2025 | -11.9% | -11.8% | -11.8% |
| 8/7/2025 | -1.8% | 1.8% | -0.9% |
| 3/26/2025 | -6.5% | -12.2% | -12.9% |
| 11/7/2024 | 2.9% | -8.4% | -14.5% |
| 8/7/2024 | 8.5% | 1.7% | 17.4% |
| 5/9/2024 | -25.0% | -25.6% | -32.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 10 | 7 |
| # Negative | 15 | 12 | 14 |
| Median Positive | 9.8% | 10.2% | 21.8% |
| Median Negative | -10.3% | -13.0% | -14.4% |
| Max Positive | 17.8% | 24.1% | 198.8% |
| Max Negative | -29.1% | -43.9% | -40.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/02/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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