MicroVision (MVIS) Q1 2026 earnings summary

Executive summary

• Completed acquisitions of Luminar Technologies and Scantinel Photonics assets, consolidating teams, technologies, and manufacturing in Orlando, and expanding the product portfolio with new long- and ultra-long-range lidar sensors.

• Achieved significant operational integration, including a 15% workforce reduction and consolidation of engineering and operations.

• Commercial traction established in Q1 2026, with resumed shipments and expanded customer engagements across automotive, industrial, and security/defense sectors.

• Product portfolio now spans short-, mid-, long-, and ultra-long-range lidar, with open software frameworks enabling flexible customer integration.

• Leadership team strengthened to drive AI, product engineering, and manufacturing excellence.

Financial highlights

• Q1 2026 revenue was $0.9 million, up 59% year-over-year, driven by higher sensor shipment volume.

• Gross margin improved to 39% from 7% in Q1 2025.

• Net loss for Q1 2026 was $25.3 million ($0.08 per share), compared to $28.8 million ($0.12 per share) in Q1 2025.

• Cash and equivalents at quarter-end were $46.1 million, with total liquidity of $88.1 million including ATM facility availability.

• Operating expenses rose to $23.9 million, mainly due to acquisition and integration costs.

Outlook and guidance

• Full-year 2026 revenue guidance maintained at $10–$15 million, with most revenue expected in the second half.

• Cash burn guidance improved to ~$60 million for the year, down from $65–$70 million.

• Gross margin guidance raised to 35–40% for the remainder of 2026.

• Management expects continued losses and negative cash flow through 2026 and the foreseeable future, but sufficient liquidity for at least 12 months.