MicroVision Announces Third Quarter 2024 Results
MicroVision Announces Third Quarter 2024 Results
REDMOND, WA / ACCESSWIRE / November 7, 2024 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, today announced its third quarter 2024 results.
華盛頓雷德蒙德 / ACCESSWIRE / 2024年11月7日 / MicroVision公司(納斯達克:MVIS)作爲微機電系統(MEMS)固態汽車激光雷達和高級駕駛輔助系統(ADAS)解決方案的領先者,今天宣佈了其2024年第三季度業績。
Key Business Highlights for Q3 2024
2024年第三季度的主要業務亮點
Actively engaged with top-tier global automotive OEMs, with seven high-volume RFQs for passenger vehicles and custom development opportunities.
Actively engaged with multiple leading industrial companies for the opportunity to provide an integrated lidar hardware and software solution in the heavy equipment vertical.
Sequential improvement in cash burn in the third quarter of 2024 positioned the Company well to leverage near-term hardware and software sales to industrial customers.
積極與一流全球汽車原始設備製造商合作,爲乘用車提供七項大批量詢價(RFQ)以及定製開發機會。
積極與多家領先的工業公司合作,爲重型設備行業提供集成激光雷達硬件和軟件解決方案的機會。
2024年第三季度現金燃燒呈現逐步改善格局,將使公司有望利用近期硬件和軟件銷售來服務工業客戶。
"We believe the recently executed $75 million capital commitment positions us well to secure additional revenue opportunities for 2025 and beyond with our integrated MOVIA L and software solution with multiple industrial customers in the heavy equipment segment," said Sumit Sharma, MicroVision's Chief Executive Officer. "In addition, MAVIN and MOVIA S, combined with our integrated perception software, continue to offer compelling solutions to automotive OEMs at attractive price points. Given automotive OEMs' latest start-of-production timelines, the opportunity to ramp revenues in 2025 with our industrial customers puts MicroVision in a strong position in the marketplace."
「我們相信最近執行的7500萬美元資本承諾使我們有望與重型設備領域的多家工業客戶合作,爲2025年及以後創造額外營收機會,並提供集成的MOVIA L和軟件解決方案。」維視圖像(MicroVision)首席執行官Sumit Sharma表示。「此外,合併MAVIN和MOVIA S,再加上我們的集成感知軟件,繼續爲汽車製造商提供具有吸引力價格點的解決方案。鑑於汽車製造商最新的開始生產時間表,與工業客戶合作在2025年增加收入的機會讓維視圖像在市場上處於有利位置。」
"With a watchful eye on our operating expenses, we are pleased with the steady improvement in our cash burn, showing sequential reductions for the first three quarters of 2024," continued Sharma. "We expect to continue scaling resources, both internally and with third party vendors and suppliers, as we remain engaged with automotive OEMs and responsive to their evolving timelines."
「在密切關注我們的營業費用的同時,我們對現金燃燒的穩步改善感到滿意,顯示出2024年前三個季度的逐步減少格局。」 Sharma繼續表示。「我們預計將繼續擴大資源規模,既內部又與第三方供應商和供應商合作,因爲我們與汽車製造商保持合作,並針對其不斷演變的時間表作出響應。」
Key Financial Highlights for Q3 2024
2024年第三季度的關鍵財務亮點
Revenue for the third quarter of 2024 was $0.2 million, compared to $1.0 million for the third quarter of 2023, with the year-over-year fluctuation driven by a delayed order, as well as the 2023 sale of MOSAIK software to a leading Asian automotive OEM.
Net loss for the third quarter of 2024 was $15.5 million, or $0.07 per share, which includes $2.4 million of non-cash, share-based compensation expense, compared to a net loss of $23.5 million, or $0.12 per share, which includes $4.7 million of non-cash, share-based compensation expense, for the third quarter of 2023.
Adjusted EBITDA for the third quarter of 2024 was an $11.7 million loss, compared to a $16.9 million loss for the third quarter of 2023.
Cash used in operations in the third quarter of 2024 was $14.1 million, compared to cash used in operations in the third quarter of 2023 of $20.4 million.
The Company ended the third quarter of 2024 with $43.2 million in cash and cash equivalents, including investment securities, compared to $73.8 million at December 31, 2023.
2024年第三季度營業收入爲$200,000,而2023年第三季度爲$1,000,000,年度波動由延遲訂單以及2023年將MOSAIk軟件賣給領先的亞洲汽車製造商所驅動。
2024年第三季度淨虧損爲$1550萬,每股爲$0.07,其中包括$240萬的非現金股份補償費,而2023年第三季度淨虧損爲$2350萬,每股爲$0.12,其中包括$470萬的非現金股份補償費。
2024年第三季度調整後的EBITDA虧損爲$1170萬,而2023年第三季度爲$1690萬的虧損。
2024年第三季度現金運營支出爲$1410萬,而2023年第三季度爲$2040萬。
公司於2024年第三季度末擁有$4320萬的現金及現金等價物,包括投資證券,而2023年12月31日爲$7380萬。
Subsequent to the third quarter, the Company strengthened its financial position by closing on a two-year $75.0 million senior secured convertible note facility in October 2024. After giving effect to the net proceeds from the first $45.0 million tranche of the financing transaction, the Company expects to have approximately $81 million in cash and cash equivalents and access to $153 million of additional capital, including $123 million under its existing ATM, or at-the-market, facility and $30 million from the remaining commitment pursuant to the convertible note facility.
第三季度後,公司通過在2024年10月完成了一項爲期兩年的$7500萬優先擔保可轉換票據安排,加強了其財務狀況。在完成融資交易的首筆$4500萬款項後,公司預計擁有大約$8100萬的現金及現金等價物,並可獲得$15300萬額外資本,包括現有ATM機制下的$12300萬和根據可轉換票據安排的剩餘承諾的$3000萬。
Conference Call and Webcast: Q3 2024 Results
電話會議和網絡直播:2024年第三季度業績
MicroVision will host a conference call and webcast, consisting of prepared remarks by management, a slide presentation, and a question-and-answer session at 1:30 PM PT/4:30 PM ET on Thursday, November 7, 2024 to discuss the financial results and provide a business update. Analysts and investors may pose questions to management during the live webcast on November 7, 2024.
維視圖像將於2024年11月7日星期四下午1:30 PT/4:30 Et舉行電話會議和網絡直播,包括管理層準備的講話、幻燈片展示和問答環節,就財務業績和業務更新進行討論。分析師和投資者可以在2024年11月7日的網絡直播中向管理層提問。
The live webcast and slide presentation can be accessed on the Company's Investor Relations website under the Events tab at . The webcast will be archived on the website for future viewing.
現場網絡研討會和幻燈片演示可以在公司的投資者關係網站的「事件」選項卡下進行訪問。網絡研討會將被存檔在該網站上供以後查看。
About MicroVision
關於維視圖像
With offices in the U.S. and Germany, MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company's integrated approach uses its proprietary technology to provide automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
MicroVision在美國和德國設有辦事處。作爲MEMS激光束掃描技術的開拓者,MicroVision將MEMS,激光器,光學,硬件,算法和機器學習軟件集成到其專有技術中,以應對現有和新興市場。公司的集成方法利用其專有技術爲汽車激光雷達傳感器和解決方案提供支持高級駕駛輔助系統(ADAS),以及用於非汽車應用,包括工業,智能基礎設施和機器人。公司一直在利用其構建增強現實微顯示引擎,交互式顯示模塊和消費激光雷達模塊等方面的經驗。
For more information, visit the Company's website at , on Facebook at , and LinkedIn at .
如需更多信息,請訪問公司網站,Facebook和LinkedIn。
MicroVision, MAVIN, MOSAIK, and MOVIA are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
MicroVision,MAVIN,MOSAIK和MOVIA是MicroVision,Inc在美國和其他國家的商標。所有其他商標均爲其各自所有者的財產。
Non-GAAP information
非GAAP信息
To supplement MicroVision's condensed financial statements presented in accordance with GAAP, the Company presents investors with the non-GAAP financial measures "adjusted EBITDA" and "adjusted Gross Profit." Adjusted EBITDA consists of GAAP net income (loss) excluding the impact of the following: interest income and interest expense; income tax expense; depreciation and amortization; bargain purchase gain; share-based compensation; impairment charges; and restructuring costs. Adjusted Gross Profit is calculated as GAAP gross profit before share-based compensation expense and the amortization of acquired intangibles included in cost of revenue.
爲了補充MicroVision按照GAAP提供的簡明財務報表,本公司向投資者提供非GAAP財務指標「調整後的EBITDA」和「調整後的毛利潤」。調整後的EBITDA包括GAAP淨收入(虧損)不包括以下影響:利息收入和利息支出;所得稅費用;折舊和攤銷;折價購買收益;股份補償;減值損失和重組成本。調整後的毛利潤是在成本中不包括股份補償支出和收購無形資產的情況下計算的GAAP毛利潤。
MicroVision believes that the presentation of adjusted EBITDA and adjusted Gross Profit provides important supplemental information to management and investors regarding financial and business trends, provides consistency and comparability with MicroVision's past financial reports, and facilitates comparisons with other companies in the Company's industry, many of which use similar non-GAAP financial measures to supplement their GAAP results. Internally, management uses these non-GAAP measures when evaluating operating performance because the exclusion of the items described above provides an additional useful measure of the Company's operating results and facilitates comparisons of the Company's core operating performance against prior periods and its business objectives. Externally, the Company believes that adjusted EBITDA and adjusted Gross Profit are useful to investors in their assessment of MicroVision's operating performance and the valuation of the Company.
MicroVision相信呈現調整後的EBITDA和調整後的毛利潤提供了有關財務和業務趨勢的重要補充信息,提供了與MicroVision過去的財務報告的一致性和可比性,並促進了與其他公司在本公司行業中的比較,其中許多公司使用類似的非GAAP財務指標來補充其GAAP結果。在進行運營績效評估時,管理層內部使用這些非GAAP指標,因爲上述項目的排除提供了公司運營績效的有用補充措施,並有助於對比公司的核心運營績效與以前時期和企業目標的比較。在外部,公司認爲調整後的EBITDA和調整後的毛利潤對投資者在評估MicroVision的運營績效和估值方面有用。
Adjusted EBITDA and adjusted Gross Profit are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of MicroVision's business as determined in accordance with GAAP. The Company expects to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items from its non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent.
調整後的EBITDA和調整後的毛利潤不按照GAAP計算,應被視爲對按照GAAP計算的財務指標的補充,而不是其替代品或優越品。非GAAP財務指標具有侷限性,因爲它們不反映按照GAAP確定MicroVision所經營業務的所有成本。公司預計將繼續發生類似於上述非GAAP調整的費用,並將這些項目從其非GAAP財務指標中排除不應被視爲這些成本不尋常或不頻繁的推論。
The Company compensates for limitations of the adjusted EBITDA measure by prominently disclosing GAAP net income (loss), which the Company believes is the most directly comparable GAAP measure, and providing investors with a reconciliation from GAAP net income (loss) to adjusted EBITDA.
公司通過 prominently disclosing GAAP 淨收入(淨損失)以及提供從 GAAP 淨收入(淨損失)到調整後 EBITDA 的調節單,對調整後 EBITDA 指標的侷限性進行補償。公司認爲,GAAP 淨收入(淨損失)是最直接可比的 GAAP 指標之一,並提供投資者與之對比。
Similarly for adjusted Gross Profit, the Company compensates for limitations of the measure by prominently disclosing GAAP gross profit which is the difference between Revenue and Cost of revenue, which the Company believes is the most directly comparable GAAP measure, and providing investors with a reconciliation by backing out share-based compensation expense and the amortization of acquired intangibles included in cost of revenue.
同樣地,對於調整後的毛利潤,公司通過 prominently 揭示 GAAP 毛利潤(營業收入和營業成本之差),並提供相應的調節單,以抵消該指標的侷限性(其中包括在營業成本中包含的股份補償費用和取得的無形資產的攤銷費用)。公司認爲,GAAP 毛利潤是最直接可比的 GAAP 指標之一,並提供投資者與之對比。
Forward-Looking Statements
前瞻性聲明
Certain statements contained in this release, including customer engagement and the likelihood of success; opportunities for revenue and cash; expense reduction; market position; product portfolio; product and manufacturing capabilities; capital-raising opportunities; and expected revenue, expenses and cash usage are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include the risk its ability to operate with limited cash or to raise additional capital when needed; market acceptance of its technologies and products or for products incorporating its technologies; the failure of its commercial partners to perform as expected under its agreements; its financial and technical resources relative to those of its competitors; its ability to keep up with rapid technological change; government regulation of its technologies; its ability to enforce its intellectual property rights and protect its proprietary technologies; the ability to obtain customers and develop partnership opportunities; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market its products; potential product liability claims; its ability to maintain its listing on The Nasdaq Stock Market, and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the SEC. These factors are not intended to represent a complete list of the general or specific factors that may affect the Company. It should be recognized that other factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set forth in this release may affect the Company to a greater extent than indicated. Except as expressly required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
本發佈中包含的某些聲明,包括客戶互動和成功的可能性;營收和現金的機會;費用的降低;市場地位;產品組合;產品和製造能力;籌資機會;以及預期營收、費用和現金使用等方面的前瞻性聲明,涉及一系列風險和不確定性,可能導致實際結果與前瞻性聲明中的結果大相徑庭。可能導致實際結果與在此類前瞻性聲明中所述項目有所偏差的因素包括:其在有限現金條件下運營或需要時籌集額外資金的風險;市場對其技術和產品或包含其技術的產品的接受程度;其商業合作伙伴未能如預期地履行協議;其財務和技術資源相對於競爭對手的情況;其跟得上技術飛速變化的能力;政府對其技術的監管;其執行知識產權和保護專有技術的能力;取得客戶並開發合作機會的能力;商業產品推出的時間安排和產品開發拖延;在關鍵產品中實現關鍵技術里程碑的能力;依賴第三方開發、製造、銷售和推廣其產品;潛在產品責任索賠;其能否保持在納斯達克證券交易所(納斯達克股票市場)上市的能力,以及公司在其SEC報告中不時確定的其他風險因素,包括公司的年度10-k表格、季度10-Q表格和提交給SEC的其他報告。這些因素不旨在代表可能影響公司的所有板塊的一般或特定因素的完整清單。應該認識到,其他因素,包括一般經濟因素和業務策略,當前或將來可能很重要,並且本發佈中所列因素可能對公司產生比指示更大程度的影響。除非聯邦證券法明確要求,公司無義務公開更新或修訂任何前瞻性聲明,無論是基於新信息、未來事件、情況變化還是其他任何原因。
Investor Relations Contact:
投資者關係聯繫人:
Jeff Christensen
Darrow Associates Investor Relations
MVIS@darrowir.com
Jeff Christensen
Darrow Associates投資者關係
MVIS@darrowir.com
Media Contact:
媒體聯繫:
Marketing@MicroVision.com
Marketing@MicroVision.com
SOURCE: MicroVision, Inc.
來源:微視圖像公司。
譯文內容由第三人軟體翻譯。