olivLaw · US equity research
MicroVision, Inc. MVIS
Electronic Components, NEC · SIC 3679 · Vertical: Electronic Components, NEC (SIC 3679)
MicroVision develops solid-state lidar sensors and perception software for automotive, industrial and security and defense markets, at a time when it is shifting its strategy towards commercialization. Net losses remain high and liquidity is limited, making financing a central issue, with an accumulated deficit of 957.3 million dollars at the end of 2025.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, MicroVision, Inc. (MVIS) stock was 1.24 USD (−3.88% on the day), with market capitalisation 42.2 m USD, beta 2.07, 52-week range 1.13–16.20 USD. Latest reported quarter (Q3 2026): revenue of 2.4 m USD (+895.9% YoY), net income of -12.2 m USD, diluted EPS -0.45 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.8
- weak (30–45)
- Bollinger (20, 2)
- 1.09 – 1.38
- in the upper half of the band · %B 0.52 · band width 24.1%
- SMA 50 / 200
- 1.47 / 6.54
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.08 / -0.11
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −15.6% | −1.1% | −14.5 pp | — |
| 3 months | −61.0% | −0.5% | −60.6 pp | — |
| 6 months | −87.5% | +4.4% | −91.9 pp | — |
| Year to date | −90.0% | +12.3% | −102.4 pp | — |
| 1 year | −92.2% | +13.5% | −105.7 pp | +14.7% |
| 3 years | −96.3% | +76.4% | −172.7 pp | +61.4% |
| 5 years | −99.1% | +63.7% | −162.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 m | 589.0 k | 155.0 k | 241.0 k | 223.0 k | 935.0 k | 1.5 m | 2.4 m |
| Cost of revenue | 4.1 m | 550.0 k | 716.0 k | 957.0 k | 16.3 m | 572.0 k | 831.0 k | 1.2 m |
| Gross profit | -2.5 m | 39.0 k | -561.0 k | -716.0 k | -16.1 m | 363.0 k | 642.0 k | 1.2 m |
| Research & development | 8.8 m | 7.4 m | 7.7 m | 8.0 m | 8.7 m | 14.4 m | 15.7 m | 13.2 m |
| SG&A | 5.9 m | 6.7 m | 6.4 m | 4.0 m | 3.2 m | 9.5 m | 9.2 m | 9.4 m |
| Operating income | -18.5 m | -14.0 m | -14.7 m | -12.7 m | -41.4 m | -23.5 m | -24.2 m | -21.3 m |
| Depreciation & amortisation | 1.7 m | 1.4 m | 1.5 m ≈ | 1.4 m ≈ | 1.5 m | 2.4 m | 3.0 m ≈ | 2.9 m ≈ |
| Interest expense | 4.4 m | 7.3 m | 2.2 m | 2.2 m | 0 | 2.8 m | 5.5 m | 1.9 m |
| Pre-tax income | -31.1 m | -28.7 m | -14.1 m | -14.0 m | -38.2 m | -25.1 m | -36.8 m | -12.2 m |
| Income tax | 81.0 k | 73.0 k | 93.0 k | 172.0 k | -422.0 k | 182.0 k | 181.0 k | 33.0 k |
| Net income | -31.2 m | -28.8 m | -14.2 m | -14.2 m | -37.8 m | -25.3 m | -36.9 m | -12.2 m |
| Diluted EPS | -0.14 ≈ | -0.12 | -0.84 | -0.72 | -0.04 ≈ | -0.08 | -1.66 | -0.45 |
| Operating cash flow | -15.1 m | -14.1 m | -12.7 m ≈ | -16.5 m ≈ | -15.4 m | -16.4 m | -19.1 m ≈ | -13.6 m ≈ |
| Capex | 103.0 k | 99.0 k | 208.0 k ≈ | 128.0 k ≈ | 244.0 k | 143.0 k | 305.0 k ≈ | 1.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17.6 m | 8.9 m | 3.1 m | 2.5 m | 664.0 k | 7.3 m | 4.7 m | 1.2 m |
| Revenue YoY | +82.8% | −49.5% | −65.2% | −19.1% | −73.4% | +993.2% | −35.3% | −74.3% |
| Net income | -27.3 m | -26.5 m | -13.6 m | -43.2 m | -53.1 m | -82.8 m | -96.9 m | -95.0 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | -0.10 | -0.27 | -0.32 | -0.45 | -0.46 | -0.35 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -154.8% | -298.0% | -441.2% | -1,728.0% | -7,995.6% | -1,141.2% | -2,063.8% | -7,862.7% |
| Free cash flow | unavailable | -24.8 m | -16.5 m | -31.9 m | -42.4 m | -69.0 m | -68.9 m | -59.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 32.4 m USD
- Financial debt
- 19.2 m USD
- Net debt
- -13.2 m USD
- Equity
- 55.5 m USD
- Total assets
- 103.1 m USD
- Debt / equity
- 0.35x
- Current ratio
- 2.69x
- ROE
- -182.1%
- ROA
- -84.7%
- FCF margin
- -4,917.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.1 m | 2.5 m | 664.0 k | 7.3 m | 4.7 m | 1.2 m | SEC (XBRL)· 04 Mar 2026verified |
| Cost of revenue | 1.4 m | 2.0 k | 100.0 k | 2.8 m | 7.5 m | 18.5 m | SEC (XBRL)· 04 Mar 2026verified |
| Gross profit | 1.7 m | 2.5 m | 564.0 k | 4.5 m | -2.8 m | -17.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Research & development | 9.8 m | 24.1 m | 30.4 m | 56.7 m | 49.0 m | 31.7 m | SEC (XBRL)· 04 Mar 2026verified |
| SG&A | 5.9 m | 22.3 m | 24.0 m | 36.7 m | 29.3 m | 20.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Operating income | -13.6 m | -43.9 m | -53.9 m | -88.9 m | -85.5 m | -82.8 m | SEC (XBRL)· 04 Mar 2026verified |
| Depreciation & amortisation | 963.0 k | 1.5 m | 2.2 m | 7.9 m | 6.9 m | 5.8 m | SEC (XBRL)· 04 Mar 2026verified |
| EBITDA | -12.7 m ≈ | -42.4 m ≈ | -51.6 m ≈ | -81.0 m ≈ | -78.6 m ≈ | -77.0 m ≈ | SEC (XBRL)· 04 Mar 2026derived |
| Interest expense | — | — | 62.0 k | 80.0 k | 4.5 m | 7.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Pre-tax income | — | -43.2 m | -53.1 m | -81.7 m | -96.4 m | -95.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Income tax | 0 | 0 | 0 | 1.1 m | 507.0 k | -84.0 k | SEC (XBRL)· 04 Mar 2026verified |
| Net income | -13.6 m | -43.2 m | -53.1 m | -82.8 m | -96.9 m | -95.0 m | SEC (XBRL)· 04 Mar 2026verified |
| Diluted EPS | -0.10 | -0.27 | -0.32 | -0.45 | -0.46 | -0.35 | SEC (XBRL)· 04 Mar 2026verified |
| Weighted average diluted shares | 139.8 k | 160.7 m | 166.0 m | 182.8 m | 209.5 m | 273.1 m | SEC (XBRL)· 04 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 16.9 m | 82.6 m | 20.5 m | 45.2 m | 54.5 m | 32.4 m | SEC (XBRL)· 04 Mar 2026verified |
| Receivables | 0 | — | 0 | 949.0 k | 926.0 k | 47.0 k | SEC (XBRL)· 04 Mar 2026verified |
| Inventories | 0 | 1.8 m | 1.9 m | 3.9 m | 2.3 m | 745.0 k | SEC (XBRL)· 04 Mar 2026verified |
| Current assets | 17.6 m | 119.4 m | 91.0 m | 86.8 m | 82.5 m | 81.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Property, plant & equipment, net | 1.9 m | 3.0 m | 6.8 m | 9.0 m | 7.1 m | 4.3 m | SEC (XBRL)· 04 Mar 2026verified |
| Intangibles (excl. goodwill) | 164.0 k | 115.0 k | 75.0 k | 17.2 m | 11.0 m | 32.0 k | SEC (XBRL)· 04 Mar 2026verified |
| Total assets | 21.0 m | 130.2 m | 115.0 m | 129.6 m | 121.2 m | 103.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Accounts payable | 630.0 k | 3.6 m | 2.1 m | 2.3 m | 1.1 m | 1.6 m | SEC (XBRL)· 04 Mar 2026verified |
| Long-term debt | — | — | — | — | 33.0 m | 19.2 m | SEC (XBRL)· 04 Mar 2026verified |
| Current liabilities | 10.0 m | 12.5 m | 11.4 m | 20.5 m | 46.0 m | 30.1 m | SEC (XBRL)· 04 Mar 2026verified |
| Total liabilities | 12.0 m | 17.5 m | 25.3 m | 33.8 m | 72.4 m | 47.6 m | SEC (XBRL)· 04 Mar 2026verified |
| Equity | 9.0 m | 112.8 m | 89.7 m | 95.8 m | 48.8 m † | 55.5 m † | SEC (XBRL)· 04 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -16.1 m | -29.4 m | -38.0 m | -67.1 m | -68.5 m | -58.7 m | SEC (XBRL)· 04 Mar 2026verified |
| Capex | 402.0 k | 2.5 m | 4.4 m | 1.9 m | 374.0 k | 679.0 k | SEC (XBRL)· 04 Mar 2026verified |
| Free cash flow | -16.5 m ≈ | -31.9 m ≈ | -42.4 m ≈ | -69.0 m ≈ | -68.9 m ≈ | -59.4 m ≈ | SEC (XBRL)· 04 Mar 2026derived |
| Investing cash flow | 123.0 k | -35.3 m | -38.1 m | 21.8 m | 2.7 m | -24.6 m | SEC (XBRL)· 04 Mar 2026verified |
| Financing cash flow | 27.0 m | 131.2 m | 14.3 m | 72.4 m | 72.9 m | 60.9 m | SEC (XBRL)· 04 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 20 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 42.2 m USD
Key indicators
Coverage and freshness
Score by group
- Quality0
- Growth59
- Valuation10
- Balance sheet0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.35 – 0.73 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/Sales0.35 – 0.73 (Mid 0.36)5 companies used · median multiple 1.2x · quartiles 1.1x – 3.7xAEIS, NSYS, OST, VREX, VRT
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 20/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | -276.2% | 0 (on a fixed band) | 12% |
| EBIT margin · Quality | -2,195.4% | 0 (vs peers) | 10% |
| FCF margin · Quality | -1,325.5% | 0 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 22.1% | 88 (on a fixed band) | 19% |
| Revenue growth (YoY) · Growth | -74.3% | 0 (vs peers) | 10% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 7% |
| EV/Sales · Valuation | 7.1x | 17 (vs peers) | 19% |
| FCF yield · Valuation | -158.0% | 0 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/2 factors with a value
- Growth59/100 · 2/2 factors with a value
- Quality0/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation10/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
MicroVision, Inc. (MVIS). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.2 m USD in 2025; YoY growth -74.3%; net margin -2,230.6%; ROE -197.8%.
The estimated value range is 0.35–0.73 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.36 USD, the price of 1.24 USD leaves a potential of -70.9% (value / price − 1) and a margin of safety of -244.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 20/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 22.1%
What contradicts it
- Gross margin: -276.2%
- EBIT margin: -2,195.4%
- FCF margin: -1,325.5%
- Revenue growth (YoY): -74.3%
- Current ratio: 0.8x
- EV/Sales: 7.1x
- FCF yield: -158.0%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Shareholder yield (distributions).
Versus the vertical median
Electronic Components, NEC (SIC 3679) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| VRTVertiv Holdings Co | 79.1 bn | 38.4 | 46.6% | 16.0% | +27.7% | +14% / +371% |
| AEISAdvanced Energy Industries, Inc. | 8.6 bn | 30.4 | 19.9% | 12.7% | +21.4% | +0% / +123% |
| PIImpinj, Inc. | 5.6 bn | — | -3.8% | -2.5% | −1.4% | +5% / +116% |
| VICRVicor Corporation | 1.9 bn | 41.7 | 23.5% | 32.2% | +26.1% | +78% / +335% |
| VREXVarex Imaging Corp | 779.3 m | 35.4 | 4.6% | 2.6% | +4.1% | +60% / −2% |
| MPTIM-tron Industries, Inc. | 277.8 m | 23.5 | 12.4% | 16.3% | +11.0% | +24% / +85% |
| ESPEspey Mfg. & Electronics Corp. | 152.7 m | 12.9 | 20.1% | 24.2% | +4.9% | +29% / +197% |
| LGLLgl Group Inc | 84.6 m | — | -0.6% | -5.0% | −2.9% | +15% / +38% |
| MVISMicroVision, Inc. | 42.2 m | — | -197.8% | -2,230.6% | −74.3% | −92% / −96% |
| NSYSNortech Systems Incorporated | 31.2 m | 29.4 | 3.0% | 0.6% | +723.6% | +59% / +26% |
| OSTOstin Technology Group Co., Ltd. | 23.7 m | — | -169.1% | -26.0% | +22.2% | −97% / −99% |
| NEONNeonode Inc. | 10.5 m | 1.3 | 48.6% | 397.8% | −33.7% | −72% / −52% |
| LPLLG Display Co., Ltd. | — | — | -37.2% | -9.6% | +24.8% | −39% / −45% |
1- and 3-year price returns: for MVIS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (28 Oct 2026 · results).
In brief
MicroVision develops solid-state lidar sensors and perception software for automotive, industrial and security and defense markets, at a time when it is shifting its strategy towards commercialization. Net losses remain high and liquidity is limited, making financing a central issue, with an accumulated deficit of 957.3 million dollars at the end of 2025 1.
SWOT
Strengths
- Diversified portfolio of solid-state lidar sensors with multiple wavelengths and range classes.
- Validated hardware-software integration built to automotive standards.
- Engineering teams in the US and Germany with a long record in MEMS technology.
Weaknesses
- Continuing net losses and no history of profitability.
- Revenue concentrated on a few large customers, with losses when they are not replaced.
- Limited financial resources compared with larger competitors.
Opportunities
- Demand from industry, defense and aerial systems could generate new contracts.
- Integration of acquired assets could lower costs through synergies.
- The semiconductor division could support both internal products and external customers.
Threats
- Dilution of shareholders if new shares or convertibles are issued.
- Risk of Nasdaq delisting if the share price does not recover above the minimum threshold.
- Competition from OEMs and suppliers that develop lidar in-house.
Risks
- Limited liquidityhigh
The company says it will need additional capital once current funds are exhausted, and obtaining it is not assured.
- Dilutionhigh
Issuing shares or convertibles could reduce the value of current shareholders' investment.
- Customer concentrationhigh
Revenue depends on a small number of customers, and losing one could strongly affect turnover.
- Nasdaq listingmedium
The company received a notice about the minimum bid price, which could lead to delisting if not remedied.
- Internal controlsmedium
The company has identified material weaknesses in internal controls in the past, and the complexity added by the German subsidiary may increase the risk.
Investment thesis
What would need to be true (bull case)
- If revenue from the second quarter of 2026 keeps growing, the company could show that the Lidar 2.0 strategy is turning into real contracts.
- The reduced expected cash burn for 2026 could show that acquisition synergies are working.
- An expanded sensor portfolio and a semiconductor division could open more revenue lines.
What would break the thesis
- Net losses remain large and revenue is still modest relative to expenses.
- Dependence on external financing and convertibles could dilute shareholders without revenue compensating.
- Delisting risk and share price volatility could make it harder to access capital markets.
What to watch
- Revenue and cash burn trajectory against the guidance of roughly 60 million dollarsQ3 2026
- Compliance with the Nasdaq minimum bid price threshold after the reverse split2026
- New contracts in industry and defense, including those for MOVIA Air2026
- Scale of dilution from new share or convertible issuancesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (28 Oct 2026 · results).
The business
MicroVision, Inc. designs solid-state lidar sensors and perception software for ADAS, autonomy and industrial applications. Founded in 1993, the company expanded through the acquisition of Ibeo assets in 2023, Scantinel assets in January 2026 and the Luminar lidar business in February 2026 1. Its headquarters are in Redmond, Washington, and its engineering teams are in the US and Germany 1.
Revenue remains very small relative to expenses: in 2025 revenue fell to 1.2 million dollars while the net loss was 95.0 million dollars 1. In the second quarter of 2026 revenue rose to 1.5 million dollars, but the net loss reached 36.9 million dollars, suggesting acquisition integration still adds costs 3.
The Lidar 2.0 strategy targets industry, defense and autonomous aerial systems, with new products such as the MOVIA Air family and a semiconductor division created in 2026 3. The company says developing these lines depends on its ability to obtain additional funding 1.
Segments
Automotive lidar
The MOVIA, MAVIN, IRIS and HALO sensors target automotive OEMs and Tier 1 suppliers for ADAS and autonomy, with revenue from volume and development contracts 1. The IRIS sensor reached start of production in April 2024 1.
Industrial and robotics
Solutions target automated guided vehicles, autonomous mobile robots, warehouse automation, agriculture and mining, with revenue from volume supply and licensing 1. A long-term development agreement with a construction and mining equipment OEM was signed in the second quarter of 2026 3.
Market context
The lidar market for ADAS and autonomy is contested by several players, and demand from industry and defense is growing gradually, according to the company's description 1. Growth potential depends on how quickly customer evaluations turn into production contracts.
The market for industrial and aerial autonomous systems appears to have a shorter sales cycle but is equally dependent on a few large customers, which could amplify revenue volatility 1.
Trends
- Industrial autonomytailwind
Automation of warehouses, farms and mines creates demand for perception sensors, which could open new contracts for MicroVision 1.
- Consolidation of the lidar marketmixed
Recent acquisitions show consolidation may reduce the number of independent competitors, but integration is costly, which can weigh on margins 13.
- Defense and aerial systemstailwind
Interest in drones and aerial perception systems could bring new contracts in security and defense 3.
- Funding pressureheadwind
Reliance on external capital and dilutive convertibles could limit investment if revenue does not grow enough 1.
Competitive position
The company competes with pure-play lidar developers, as well as with OEMs and Tier 1 suppliers that develop sensors in-house, which are larger and better resourced 1. The claimed advantage is validated integrated hardware and software for automotive and industrial customers 1.
Pure-play lidar competitors have raised capital over longer periods and reached commercialization faster, which could reduce MicroVision's market share if it does not accelerate deliveries 1.
- Pure-play lidar developers
Lidar-focused companies described in the source as having raised significant capital and commercialized products faster.
- Automotive OEMs with in-house lidar
Carmakers developing their own sensors and competing directly for the same contracts.
- Tier 1 automotive suppliers
Large automotive component suppliers with substantial resources and established sales channels.
- Industrial perception sensor providers
Companies supplying sensors for AGVs and AMRs, competing in the industrial segment.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report30 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Current report07 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Current report31 Aug 2026Other events · Financial statements and exhibits
- Current report17 Aug 2026Material agreement · Other events · Financial statements and exhibits
- Current report10 Aug 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report22 Jul 2026Item 3.03 · Amendments to articles or bylaws · Financial statements and exhibits
- Current report13 Jul 2026Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / MicroVision, Inc. · 04 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / MicroVision, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / MicroVision, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.