Figma Shares Indicated To Open $105/$110
REDMOND, WA - MicroVision, Inc. (NASDAQ:MVIS), known for its advanced perception technology used in autonomy and mobility, disclosed its financial results for the fourth quarter and full year of 2024. The company reported a Q4 revenue of $1.7 million, a significant decrease from $5.1 million in the same quarter the previous year. However, this figure excludes a one-time revenue of $4.6 million from Microsoft (NASDAQ:MSFT) in Q4 2023. The company attributes the reduction to a customer delay, pushing expected revenue into 2025.
The net loss for Q4 stood at $31.2 million, or $0.14 per share, including non-cash expenses such as share-based compensation and convertible note-related expenses. This loss widened from a net loss of $19.7 million, or $0.10 per share, in Q4 2023. Adjusted EBITDA for Q4 2024 showed a loss of $13.2 million, slightly improving from a $13.6 million loss in the prior year’s quarter.
Despite these losses, MicroVision ended the quarter with $74.7 million in cash and cash equivalents, a marginal increase from $73.8 million at the end of 2023. The company also secured a $75 million convertible note facility and raised an additional $8 million in equity in the first quarter of 2025. This has been part of a broader strategy to streamline costs and improve the cash burn rate.
MicroVision’s CEO, Sumit Sharma, expressed confidence in the company’s positioning for 2025, highlighting a strong balance sheet and a secured production commitment with ZF, anticipated to drive $30-$50 million in revenue over the next 12-18 months, primarily from the AMR/AGV sector.
The company has also made strategic moves to solidify its leadership by hiring Glen DeVos, a former CTO of Aptiv (NYSE:APTV), to enhance its product portfolio and customer solutions. Engagements with top-tier automotive OEMs for high-volume RFQs and custom development opportunities continue, with seven active discussions underway.
In a subsequent move to fortify its financial standing, MicroVision entered into an agreement to raise up to $17 million in new equity capital and reduced future cash obligations by converting $12.25 million of its convertible note into common stock.
The company’s focus remains on delivering integrated perception software and sensor solutions to various industries, including automotive and defense. MicroVision’s technology is aimed at enhancing safety and efficiency in applications such as robotics, automated warehouses, agriculture, and advanced driver-assistance systems.
This article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.