MicroVision, Inc. (MVIS) SEC Filings & Earnings Calls

Guidance range is wide ($10-15M) indicating low visibility; cash burn remains high in 2026.

“Revenue guidance of $10 million to $15 million; significant reduction in cash burn in 2027 compared with 2026 implies ongoing burn in 2026.”

No new risk signals; compliance issue resolved.

“Nasdaq non-compliance matter closed.”

Dilution risk from equity offering.

“Equity offering announced; no specific terms disclosed.”

Going concern uncertainty

“raises substantial doubt about the Company's ability to continue as a going concern through at least twelve months from the date the condensed consolidated financial statements are issued.” · word for word

Customer concentration risk

“As of June 30, 2026, accounts receivable related to these customers accounted for 85% of total accounts receivable, net of allowances on the condensed consolidated balance sheets.” · word for word

Dilution risk from convertible notes

“Shares of common stock that may be issued through conversion of the derivative liability 8,234 (June 30, 2026)” · word for word

High cash burn rate

“Net cash used in operating activities $35,588 (H1 2026)”

High cash burn rate; net loss increased significantly YoY; reliance on future financing.

“Net loss for the second quarter of 2026 was $36.9 million ... cash used in operations in the second quarter of 2026 was $19.1 million” · word for word

Delisting risk if unable to regain compliance with minimum bid price requirement.

“Company received a notification letter from Nasdaq notifying the Company of its failure to maintain the $1.00 minimum bid price required for continued listing.”

Nasdaq Delisting Risk

“As previously disclosed, on January 12, 2026, we received written notice from the Nasdaq Listing Qualifications Staff (the 'Staff') indicating that, based upon our closing bid price for the prior 30 consecutive business days, the company no longer met the continued listing requirement to maintain a minimum bid price of $1.00 per share.” · word for word

Dilution Risk from Convertible Notes

“The 2026 Convertible Notes are subject to limits on conversion including a limit on the number of shares that may be issued upon conversion or otherwise of 61,315,970 shares in the aggregate until our stockholders have approved this Proposal 2” · word for word

Shareholder Opposition to Reverse Split

“After we filed our preliminary proxy statement for the 2026 Annual Meeting of Shareholders, we received significant feedback from our retail shareholder base regarding Proposals 2 and 3, and especially Proposal 3” · word for word

Cash Flow Risk if Proposal 2 Not Approved

“If Proposal 2 is not approved, the Company could be required to make substantial cash payments instead of issuing shares, placing unnecessary burden on the Company’s cash resources and jeopardizing future financing prospects.” · word for word

Dependence on commercial partner performance and market acceptance of technologies.

“the failure of our commercial partners to perform as expected under our agreements; market acceptance of our technologies”

Reverse stock split often signals financial distress and may lead to further dilution.

“The reverse stock split is intended to increase the per share price to maintain Nasdaq listing compliance.”

Customer concentration risk

“For the three months ended March 31, 2026, $0.5 million, or 54%, of total revenue was derived from a top-ten global automotive OEM customer, $0.2 million, or 22%, of total revenue was derived from a leading global manufacturer of construction and mining equipment, and $0.2 million, or 17%, of total revenue was derived from an EU-based robotics company.” · word for word

Nasdaq minimum bid price non-compliance risk

“On January 12, 2026, we received a notification letter from Nasdaq advising that, based upon the closing bid price for the last 30 consecutive business days, the Company no longer met the continued listing requirement to maintain a minimum bid price of $1 per share.” · word for word

Convertible note dilution risk

“The conversion of the convertible notes could result in significant dilution of our common stock, which could result in significant dilution to our existing stockholders and cause the market price of our common stock to decline.” · word for word

Cash runway less than 3 quarters at current burn rate; potential need for additional financing.

“Cash $46.1M vs $74.8M at Dec 31, 2025; cash used in ops $16.4M in Q1.”

Integration risk from two acquisitions (Luminar, Scantinel) and workforce reduction may disrupt operations.

“Completed asset acquisitions from Luminar Technologies and Scantinel Photonics; reduction in global workforce by approximately 15%.”

Revenue decline and continued cash burn raise going-concern risk despite new financing.

“Revenue down 88% YoY; cash used in operations $15.4M/quarter; $74.8M cash provides ~5 quarters runway at current burn.”

Asset impairment and inventory write-downs signal potential overvaluation of assets or weak demand.

“$29.4M non-cash charges related to asset impairment and inventory write-downs.”

Integration risk from two acquisitions (Luminar, Scantinel) and workforce reduction.

“Workforce reduction ~20%, consolidation of engineering functions.”

Going concern risk

“We have had substantial losses since our inception. We cannot assure you that we will ever become or remain profitable.” · word for word

Customer concentration risk

“For the year ended December 31, 2025, a leading manufacturer of agricultural equipment accounted for $0.5 million in revenue... This represents 42%... of our total revenue.” · word for word

Delisting risk

“On January 12, 2026, we received a notification letter from Nasdaq advising that... the Company no longer met the continued listing requirement to maintain a minimum bid price of $1 per share.” · word for word

Liquidity risk

“We will require additional capital to fund our operating plan past that time.” · word for word

Going concern risk due to accumulated losses and need for additional capital

“We have had substantial losses since our inception. We incurred net losses of $862.3 million from inception through 2024, and a net loss of $57.2 million during the nine months ended September 30, 2025. We will require additional capital to fund our operating plan past that time.” · word for word

Nasdaq delisting risk due to low stock price

“As a result of recent declines and volatility in our stock price, there is a significant risk that we could fail to maintain compliance with the minimum bid price requirement of $1.00 per share for continued listing on The Nasdaq Global Market.” · word for word

Customer concentration risk

“For the nine months ended September 30, 2025, a leading manufacturer of agriculture equipment accounted for $0.5 million in revenue, representing 51% of our total revenue.” · word for word

Convertible note default risk

“Our obligations under the convertible note, and any additional convertible notes issued pursuant to the October 2024 securities purchase agreement, and the related transaction documents, are secured by a security interest in all of our bank and securities accounts, now owned and hereafter created or acquired. As a result, if we default on our obligations und” · word for word

High cash burn rate relative to minimal revenue; path to profitability uncertain.

“Cash used in operations $16.5M/quarter vs revenue $0.2M; net loss $14.2M.”

Dependence on automotive OEM adoption and defense contracts; long sales cycles.

“Company targeting automotive ADAS and defense; revenue still minimal.”