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Earnings Call Summary | Microvision(MVIS.US) Q4 2023 Earnings Conference

Futu News ·  Feb 29 16:17  · Conference Call

The following is a summary of the MicroVision, Inc. (MVIS) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • MicroVision reported Q4 2023 revenue of $5.1 million, making the full year 2023 revenue $7.3 million.

  • Profits were mainly attributed to the Microsoft contract signed in 2017 and direct sales of hardware and software.

  • The company projects a similar cash burn for 2024 as 2023, between $65 million to $70 million annually.

  • As of December 31, 2023, MicroVision reported total liquidity of $93 million.

  • The company expects 2024 revenues of $8 to $10 million primarily from sales of LiDAR sensors to automotive OEM and non-automotive customers.

Business Progress:

  • The company is engaged in nine RFQs with multiple OEMs in Europe and North America, primarily for passenger car programs.

  • It is working towards becoming a LiDAR Tier 1, providing its own technology with significant IP.

  • Future product releases include the MAVIN-N product and the MOVIA-S product.

  • The firm maintains a strategic focus on nominations for upcoming projects by adopting efficient, high-margin, low-risk models.

  • MicroVision is focusing on developing level two plus and level three autonomy due to OEM project sizes and market demand.

More details: Microvision IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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