RCS - MicroVision, Inc. - MicroVision Announces Second Quarter 2025 Results

MicrovisionAnnouncement

08/08/2025 08:15

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RNS Number : 5006U  MicroVision, Inc.  08 August 2025

MicroVision Announces Second Quarter 2025 Results

REDMOND, WASHINGTON / ACCESS Newswire (https://www.accessnewswire.com/)  /
August 8, 2025 / MicroVision, Inc. (NASDAQ:MVIS), a technology pioneer
delivering advanced perception solutions in autonomy and mobility, today
announced its second quarter 2025 results.

Key Business and Operational Highlights

·      Achieved full integration of MOVIA lidar into NVIDIA's DRIVE AGX
platform to become part of their prestigious autonomous vehicle ecosystem.

·      Continued engagement with top-tier global automotive OEMs, with
reformulated and higher-volume RFQs for passenger vehicles and custom
development opportunities.

·      Driving momentum in industrial markets with a focus on near-term
revenue opportunities with programs that leverage our full stack ADAS software
and multi-modal sensor capability.

·      Continued production on high-volume automotive-qualified
manufacturing line, ensuring continuous and uninterrupted supply of sensors
and integrated software.

·      Progressed opportunities to accelerate strategic expansion in the
defense tech and military sectors.

·      Deepened expertise on Board of Directors in industrial robotics
and defense sectors, with Laura Peterson's appointment as a new independent
director.

·      Expanded defense industry advisory board with the addition of
technology strategist and esteemed veteran Scott Goldstein.

"As we aggressively yet diligently execute our strategic vision to be a leader
in autonomy, we are able to drive optimal performance at very competitive
pricing as a result of our solid-state architecture," said Sumit Sharma,
MicroVision's Chief Executive Officer. "I am confident that MicroVision is
well positioned to secure revenue opportunities for 2025 from the industrial
vertical. Our unique value proposition continues to be our integrated
perception software, and we offer compelling solutions to industrial customers
and automotive OEMs at attractive price points."

"We are excited about the progress demonstrated in this quarter both
commercially and financially. With the NVIDIA integration to increased
momentum in the defense vertical, we are executing our strategic vision. We
also expanded our Sales and Business Development team by bringing in some
experienced talent from our competitors. In addition, our production
commitment with ZF enables us to commit to high-volume deliveries to fulfil
our revenue pipeline over the next 12-18 months. The recent capital raises
have further expanded our financial runway and positioned MicroVision well in
the marketplace with an improved cost structure to support customer demand."
said Anubhav Verma, MicroVision's Chief Financial Officer.

Key Financial Highlights for Q2 2025

·      Revenue for the second quarter of 2025 was $0.2 million, compared
to $1.9 million for the second quarter of 2024 driven by industrial customers.

·      Total operating expenses for the second quarter of 2025 were
$14.1 million, representing a 44% decline YoY as compared to $25.0 million for
the second quarter of 2024.

·      Net loss for the second quarter of 2025 was $14.2 million, or
$0.06 per share, which includes $2.2 million of non-cash interest expense
related to financings, $2.8 million related to non-cash unrealized gains on
warrants and derivatives, and $1.9 million of non-cash share-based
compensation expense, compared to a net loss of $23.9 million, or $0.11 per
share, which includes $3.4 million of non-cash share-based compensation
expense and $3.0 million of a non-cash asset impairment charge, for the second
quarter of 2024.

·      Adjusted EBITDA for the second quarter of 2025 was a $11.2
million loss, compared to a $12.6 million loss for the second quarter of 2024.

·      Cash used in operations in the second quarter of 2025 was $12.7
million, compared to cash used in operations in the second quarter of 2024 of
$18.6 million.

·      The Company ended the second quarter of 2025 with $91.4 million
in cash and cash equivalents, including investment securities, compared to
$74.7 million as of December 31, 2024.

As of June 30, 2025, the Company has access to $106.5 million of capital,
subject to certain conditions, including $76.5 million under its existing ATM,
or at-the-market, facility and $30 million from the remaining commitment
pursuant to the convertible note facility.

Conference Call and Webcast: Q2 2025 Results

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, August 7, 2025 to discuss the financial
results and provide a business update. Analysts and investors may pose
questions to management during the live webcast on August 7, 2025 and may
submit questions HERE (https://pr.report/3wij)  in advance of the conference
call.

The live webcast can be accessed on the Company's Investor Relations website
under the Events tab HERE (https://pr.report/3wik) . The webcast will be
archived on the website for future viewing.

About MicroVision

MicroVision is at the forefront of driving the global adoption of innovative
perception solutions, with the goal of making mobility and autonomy safer. Our
engineering excellence, based in Redmond, Washington and Hamburg, Germany,
enables us to develop and supply integrated lidar hardware and perception
software solutions. Our proprietary technologies enhance safety and automation
across various industrial applications, including robotics, automated
warehouses, and agriculture, and are instrumental in the development of
autonomous systems. MicroVision's core technology, initially developed for the
automotive industry, continues to accelerate advanced driver-assistance
systems (ADAS) and autonomous driving. Building on our history of providing
technology to the military segment, our target offerings include semi- and
fully autonomous airborne and terrestrial sensor systems. With our solid-state
lidar technologies, encompassing MEMS-based long-range lidar and flash-based
short-range lidar, integrated with our onboard perception software,
MicroVision possesses the expertise to deliver safe mobility at the speed of
life.

For more information, visit the Company's website at www.microvision.com
(https://pr.report/d20l) , on Facebook at www.facebook.com/microvisioninc
(https://pr.report/d20m) , and LinkedIn
at https://www.linkedin.com/company/microvision/ (https://pr.report/d20n) .

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.

Non-GAAP information

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; non-cash gains and losses; share-based
compensation; 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.

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.

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.

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.

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.

Forward-Looking Statements

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; access to capital and 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.

Investor Relations Contact

Jeff Christensen

Darrow Associates Investor Relations

MVIS@darrowir.com

Media Contact
Marketing@MicroVision.com

SOURCE: MicroVision, Inc

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