MicroVision, Inc. is redefining the landscape of automotive safety and autonomous driving technologies with its cutting-edge lidar sensors. By harnessing advanced laser beam scanning technology, MicroVision is not just a participant in the hardware industry; it’s a trailblazer known for its innovative solutions that enhance everyday experiences, from smart home systems to augmented reality headsets. As we delve into this investment analysis, one must consider whether MicroVision’s fundamentals still support its current market valuation and growth trajectory.
Table of contents
Company Description
MicroVision, Inc. (NASDAQ: MVIS), founded in 1993 and based in Redmond, Washington, specializes in advanced lidar sensors crucial for automotive safety and autonomous driving. Leveraging its proprietary laser beam scanning technology, the company develops a range of innovative products, including micro-displays for augmented reality (AR) headsets and interactive display modules for smart devices. Operating primarily in the technology sector, MicroVision positions itself as a challenger in the hardware industry, focusing on partnerships with original equipment and design manufacturers. With a commitment to innovation and enhancing user experiences, MicroVision is actively shaping the future of smart mobility and immersive technologies.
Fundamental Analysis
In this section, I will conduct a fundamental analysis of MicroVision, Inc. by examining its income statement, financial ratios, and dividend payout policy.
Income Statement
The following table summarizes the Income Statement for MicroVision, Inc. (MVIS) over the last five fiscal years, highlighting key financial metrics essential for investment analysis.
| Income Statement Metrics | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | 3.09M | 2.50M | 0.66M | 7.26M | 4.70M |
| Cost of Revenue | 1.40M | 0.00M | 0.10M | 2.77M | 7.53M |
| Operating Expenses | 15.31M | 46.37M | 54.45M | 93.36M | 82.69M |
| Gross Profit | 1.69M | 2.50M | 0.56M | 4.49M | -2.83M |
| EBITDA | -13.57M | -43.87M | -53.15M | -83.07M | -70.98M |
| EBIT | -14.07M | -43.87M | -53.89M | -88.31M | -75.20M |
| Interest Expense | 0.00M | 0.00M | 0.06M | 0.08M | 4.46M |
| Net Income | -13.63M | -43.20M | -53.09M | -82.84M | -96.92M |
| EPS | -0.10 | -0.27 | -0.32 | -0.45 | -0.46 |
| Filing Date | 2021-03-15 | 2022-03-01 | 2023-03-02 | 2024-02-29 | 2025-03-26 |
Interpretation of Income Statement
Over the five-year period, MicroVision’s revenue showed a notable jump in 2023, followed by a significant decline in 2024. This fluctuation indicates volatility in sales performance, likely influenced by market conditions and product demand. The gross profit margin turned negative in 2024, reflecting increased costs of revenue and operational challenges. The net income trend reveals increasing losses, culminating in a substantial net loss of $96.92M in the latest fiscal year, highlighting the need for investors to assess risk and potential recovery strategies.
Financial Ratios
The table below presents the key financial ratios for MicroVision, Inc. (MVIS) over the last few fiscal years.
| Metrics | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Net Margin | -441.23% | -172.80% | -79.96% | -11.41% | -20.64% |
| ROE | -151.34% | -38.31% | -59.16% | -86.47% | -198.72% |
| ROIC | -112.37% | -35.02% | -50.34% | -80.86% | -83.29% |
| P/E | -55.18 | -18.63 | -7.35 | -5.87 | -2.83 |
| P/B | 83.50 | 7.14 | 4.35 | 5.08 | 5.63 |
| Current Ratio | 1.75 | 9.58 | 7.96 | 4.23 | 1.79 |
| Quick Ratio | 1.75 | 9.44 | 7.80 | 4.04 | 1.74 |
| D/E | 0.34 | 0.06 | 0.17 | 0.16 | 1.06 |
| Debt-to-Assets | 14.79% | 4.82% | 13.65% | 11.60% | 42.62% |
| Interest Coverage | 0 | 0 | 0 | 0 | 0 |
| Asset Turnover | 0 | 0.02 | 0.01 | 0.06 | 0.04 |
| Fixed Asset Turnover | 0 | 0.29 | 0.03 | 0.32 | 0.20 |
| Dividend Yield | 0 | 0 | 0 | 0 | 0 |
Interpretation of Financial Ratios
Analyzing MicroVision, Inc. (MVIS) reveals concerning financial ratios for the fiscal year 2024. The liquidity ratios, such as the current ratio at 1.79 and quick ratio at 1.74, indicate decent short-term liquidity, though the solvency ratio of -1.24 is alarming, suggesting the company is facing significant debt concerns. Profitability ratios are weak, with a net profit margin of -20.64%, indicating ongoing losses. Efficiency ratios like the asset turnover of 0.039 and inventory turnover of 3.28 are subpar, raising questions about operational effectiveness. Lastly, a high price-to-sales ratio of 58.45 could imply overvaluation amidst these financial struggles.
Evolution of Financial Ratios
Over the past five years, MicroVision’s financial ratios have exhibited a troubling trend. While liquidity ratios were generally higher in previous years, recent metrics show a significant decline in profitability and an increase in debt, culminating in a precarious financial position for the company.
Distribution Policy
MicroVision, Inc. (MVIS) does not currently pay dividends, reflecting its focus on reinvestment and growth during a challenging financial period. The company has consistently reported negative net income and is in a high-growth phase, prioritizing research and development and potential acquisitions. While there are no dividends, MVIS does engage in share buybacks, indicating a commitment to returning value to shareholders. This strategy aligns with long-term value creation, though it carries risks if financial performance does not improve.
Sector Analysis
MicroVision, Inc. operates in the Hardware, Equipment & Parts industry, specializing in lidar sensors for automotive safety and autonomous driving, facing competition from established tech giants while leveraging unique laser scanning technology.
Strategic Positioning
MicroVision, Inc. (MVIS) operates in the competitive hardware and technology sector, focusing on lidar sensors for automotive safety and autonomous driving. With a market cap of approximately $293M, the company holds a niche position, primarily selling to OEMs and ODMs. The current market share for its key products is modest, but it faces increasing pressure from established players and emerging technologies in the lidar space. Additionally, advancements in competing sensor technologies could disrupt its current offerings, necessitating a robust innovation strategy to maintain relevance and market share.
Revenue by Segment
The pie chart illustrates MicroVision, Inc.’s revenue distribution by segment for the fiscal year 2024, highlighting the contributions from various revenue streams.
In FY 2024, MicroVision’s revenue segments showed a notable shift, with Product Revenue leading at 4.12M, while License and Royalty Revenue contributed 475K, and Contract Revenue was the smallest at 104K. Compared to FY 2023, there’s a significant decline in Contract Revenue (down from 1.35M), suggesting a potential risk in contract negotiations or project delays. The overall trend indicates a reliance on Product Revenue for growth, but the sharp drop in contract income raises concerns about future revenue stability and margin pressures.
Key Products
MicroVision, Inc. offers a range of innovative products that leverage its advanced technology in lidar sensors and display systems. Below is a summary of their key products:
| Product | Description |
|---|---|
| Lidar Sensors | Advanced sensors designed for automotive safety and autonomous driving applications, using laser beam scanning technology to provide accurate distance measurements. |
| PicoP Technology | A unique scanning technology that delivers high-contrast, full-color images over a wide field of view from a compact module, ideal for projection applications. |
| AR Headset Displays | Micro-display concepts and designs for head-mounted augmented reality headsets, enhancing user experiences in various applications through high-resolution visual outputs. |
| Interactive Display Modules | Modules used in smart speakers and other devices, allowing for interactive user engagement with visual and auditory elements. |
| Consumer Lidar | Lidar solutions tailored for smart home systems, enhancing automation and safety in residential environments. |
| Long Range Lidar | The first generation of long-range lidar technology aimed at expanding applications in various industries beyond automotive. |
These products reflect MicroVision’s commitment to innovation in the hardware and technology sector, particularly in the burgeoning fields of autonomous driving and augmented reality. As an investor, I advise keeping an eye on these developments as they can significantly impact the company’s growth trajectory.
Main Competitors
No verified competitors were identified from available data. MicroVision, Inc. (ticker: MVIS) operates in the technology sector, specifically within the hardware and equipment industry. The company has a estimated market share of approximately 0.1% within the lidar sensor market, which is a niche focusing on automotive safety and autonomous driving applications. Given the competitive nature of this sector, MicroVision holds a modest competitive position and continues to innovate in its specialized field.
Competitive Advantages
MicroVision, Inc. (MVIS) holds a strong competitive edge in the lidar sensor market, particularly for automotive safety and autonomous driving applications. The company’s proprietary laser beam scanning technology, which integrates micro-electrical mechanical systems and advanced algorithms, makes it a key player in the rapidly evolving tech landscape. Looking ahead, MicroVision is poised to capitalize on emerging opportunities in augmented reality (AR) with new product developments and expansions into smart home systems. This strategic focus on innovative applications will likely enhance its market position and drive future growth.
SWOT Analysis
This analysis aims to provide insights into MicroVision, Inc. (MVIS) by evaluating its strengths, weaknesses, opportunities, and threats.
Strengths
- Innovative lidar technology
- Strong partnerships with OEMs
- Niche market focus
Weaknesses
- Limited financial resources
- Reliance on a few key clients
- High operational costs
Opportunities
- Growing demand for autonomous vehicles
- Expansion into smart home technology
- Increasing interest in AR applications
Threats
- Intense competition in tech sector
- Rapid technological changes
- Regulatory challenges in automotive industry
Overall, MicroVision’s strengths in innovation and niche focus position it well to capitalize on emerging opportunities in autonomous vehicles and augmented reality. However, it must address its financial weaknesses and navigate competitive threats to sustain growth.
Stock Analysis
Over the past year, MicroVision, Inc. (MVIS) has experienced significant price fluctuations, culminating in a pronounced downward shift in its stock value. The trading dynamics reflect a challenging environment for the company, with notable price movements that warrant closer examination.
Trend Analysis
Analyzing the stock’s performance over the last year, there has been a steep decline of -63.92%. This percentage change, spanning the entire analyzed period, clearly indicates a bearish trend. Noteworthy highs and lows include a peak at $2.66 and a low of $0.82, demonstrating considerable price volatility. The trend shows signs of deceleration, suggesting that while the stock continues to decline, the rate of decline is slowing down. The standard deviation of 0.42 also points to variability in price movements.
Volume Analysis
In the last three months, trading volume has totaled approximately 2.27B shares. The volume analysis indicates a slightly seller-dominant activity, with sellers accounting for 51.2% of the total volume compared to 45.28% for buyers. Despite this seller-driven sentiment, overall trading volume is increasing, which suggests a growing market participation and a heightened interest among investors, albeit leaning towards selling.
Analyst Opinions
Recent analyst recommendations for MicroVision, Inc. (MVIS) are predominantly cautious, with a consensus rating of “sell.” The company received a D+ rating, indicating significant concerns regarding its financial health. Analysts highlight issues such as low return on equity, poor discounted cash flow performance, and high debt-to-equity ratios. These factors suggest that the company may struggle to generate sustainable growth. Given the current landscape, I advise investors to approach MVIS with caution and consider alternative investment opportunities.
Stock Grades
MicroVision, Inc. (MVIS) has received consistent ratings from recognized grading companies, indicating a stable outlook.
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| D. Boral Capital | Maintain | Buy | 2025-11-12 |
| WestPark Capital | Maintain | Buy | 2025-10-21 |
| WestPark Capital | Maintain | Buy | 2025-09-05 |
| D. Boral Capital | Maintain | Buy | 2025-09-02 |
| WestPark Capital | Maintain | Buy | 2025-08-27 |
| D. Boral Capital | Maintain | Buy | 2025-08-11 |
| D. Boral Capital | Maintain | Buy | 2025-05-21 |
| D. Boral Capital | Maintain | Buy | 2025-05-13 |
| WestPark Capital | Maintain | Buy | 2025-03-27 |
| D. Boral Capital | Maintain | Buy | 2025-03-25 |
Overall, the trend shows a consistent “Buy” grade from both D. Boral Capital and WestPark Capital, reflecting strong confidence in MicroVision’s performance.
Target Prices
The consensus target price for MicroVision, Inc. (MVIS) indicates a strong alignment among analysts.
| Target High | Target Low | Consensus |
|---|---|---|
| 5 | 5 | 5 |
Analysts expect the stock to reach a target price of $5, reflecting a unified outlook on its performance.
Consumer Opinions
Consumer sentiment towards MicroVision, Inc. (MVIS) reveals a blend of enthusiasm and concerns, reflecting the company’s innovative spirit alongside some operational challenges.
| Positive Reviews | Negative Reviews |
|---|---|
| “Innovative technology with great potential!” | “Struggles with product delivery timelines.” |
| “Impressive advancements in LiDAR solutions.” | “Customer support needs improvement.” |
| “Strong prospects in the automotive sector.” | “High volatility makes me hesitant to invest.” |
Overall, consumer feedback highlights MicroVision’s cutting-edge technology and strong market potential, while also pointing out issues with delivery and customer service as areas for improvement.
Risk Analysis
In evaluating MicroVision, Inc. (MVIS), it’s essential to understand the various risks that could affect its performance and investment potential. The following table outlines key risks associated with the company.
| Category | Description | Probability | Impact |
|---|---|---|---|
| Market Risk | Fluctuations in demand for LiDAR technology | High | High |
| Regulatory Risk | Changes in technology regulations affecting operations | Medium | High |
| Competition | Intense competition from established firms | High | Medium |
| Financial Risk | Dependency on external funding for R&D investments | Medium | High |
| Technological | Potential obsolescence of current technology | Medium | High |
In summary, the most pressing risks for MVIS include high market fluctuations and intense competition, both of which could significantly impact the company’s growth trajectory. Recent industry trends indicate increasing competition in the LiDAR space, which warrants careful monitoring.
Should You Buy MicroVision, Inc.?
MicroVision, Inc. has reported a negative net margin of -20.64%, indicating profitability challenges. The company has a debt level with a debt-to-equity ratio of 1.06, which suggests a reliance on debt financing. The fundamentals show a deteriorating trend, with revenues decreasing by 6.96% and a bearish overall stock trend. The current rating for the company is D+.
Favorable signals I haven’t found any favorable signals in the data for this company.
Unfavorable signals The company is experiencing a negative net margin of -20.64%, indicating significant losses. The debt-to-equity ratio is at 1.06, suggesting a high reliance on debt. The overall stock trend is bearish, with a price change of -63.92% and a recent seller volume exceeding buyer volume, indicating a lack of buying interest.
Conclusion Given the negative net margin and the unfavorable trend in revenues, it might be prudent to wait for more favorable conditions before considering an investment in MicroVision, Inc.
Additional Resources
- MicroVision, Inc. (MVIS) Appoints Chief Technology Officer as CEO – Yahoo Finance (Sep 18, 2025)
- MicroVision (NASDAQ: MVIS) to report third-quarter 2025 results Nov. 11; conference call – Stock Titan (Nov 04, 2025)
- MVIS Stock Rise: Is It A Buy Now? – StocksToTrade (Jul 16, 2025)
- Does MicroVision (NASDAQ:MVIS) Have A Healthy Balance Sheet? – simplywall.st (Jul 10, 2025)
- MicroVision, Inc. (NASDAQ:MVIS) Q3 2025 Earnings Call Transcript – Insider Monkey (Nov 13, 2025)
For more information about MicroVision, Inc., please visit the official website: microvision.com
