MicroVision, Inc. is revolutionizing how we interact with technology, shaping the future of automotive safety and autonomous driving with its cutting-edge lidar sensors. Renowned for its innovative laser beam scanning technology, MicroVision is at the forefront of augmented reality advancements, crafting immersive experiences that enhance everyday life. As we explore the company’s market position and growth potential, I invite you to consider whether its fundamentals align with the current valuation and future opportunities in a rapidly evolving tech landscape.
Table of contents
Company Description
MicroVision, Inc. is a pioneering technology firm founded in 1993 and headquartered in Redmond, Washington. Specializing in lidar sensors, the company plays a critical role in automotive safety and autonomous driving solutions. Its innovative laser beam scanning technology, which integrates micro-electrical mechanical systems and advanced algorithms, supports a variety of applications, including augmented reality (AR) headsets and smart home devices. Operating primarily within the hardware, equipment, and parts industry, MicroVision serves original equipment manufacturers and design manufacturers, establishing itself as a key player in the evolving landscape of visual technology. The company’s commitment to innovation positions it as a formidable influencer in shaping the future of autonomous systems and immersive experiences.
Fundamental Analysis
In this section, I will analyze MicroVision, Inc. by examining its income statement, key 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.
| Metric | 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 | -42.92M | -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 past five fiscal years, MicroVision has experienced fluctuating revenue levels, peaking in 2023 at 7.26M before declining to 4.70M in 2024. Notably, the company’s net income has worsened, going from -13.63M in 2020 to -96.92M in 2024, indicating increasing operational challenges. Despite some improvements in gross profit in 2023, the margins took a significant hit in 2024, resulting in a negative gross profit of -2.83M. This trend suggests that the company is facing heightened costs relative to its revenues, which could impact future investment decisions.
Financial Ratios
Below is a table summarizing the financial ratios for MicroVision, Inc. (MVIS) over the years 2020 to 2024.
| Ratios | 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 | -19.19 |
| Asset Turnover | 0.15 | 0.02 | 0.01 | 0.06 | 0.04 |
| Fixed Asset Turnover | 1.09 | 0.29 | 0.03 | 0.32 | 0.20 |
| Dividend Yield | 0% | 0% | 0% | 0% | 0% |
Interpretation of Financial Ratios
Analyzing MicroVision, Inc.’s (MVIS) financial ratios for FY 2024 reveals concerning trends. The liquidity ratios, such as the current ratio (1.79) and quick ratio (1.74), indicate adequate short-term liquidity, but the solvency ratio stands at -1.24, suggesting significant long-term financial risk. Profitability is weak, with negative margins across gross (-60.35%), operating (-18.21%), and net (-20.64%). Efficiency ratios show a receivables turnover of 5.07, which is decent, but the asset turnover is alarmingly low at 0.039. Additionally, the high price-to-book ratio (5.63) raises concerns about overvaluation. Overall, while liquidity appears manageable, the company’s profitability and solvency issues warrant caution for investors.
Evolution of Financial Ratios
Over the past five years, MVIS has shown a deteriorating trend in profitability, with net profit margins worsening from -17.28% in 2021 to -20.64% in 2024. Conversely, liquidity ratios exhibited some volatility, peaking at 9.58 in 2021 but stabilizing around 1.79 in 2024, indicating potential challenges in maintaining adequate liquidity moving forward.
Distribution Policy
MicroVision, Inc. (MVIS) does not currently pay dividends, reflecting its ongoing high-growth phase and focus on reinvesting in research and development. The company has faced negative net income and hefty operational losses, which limit its ability to distribute profits. However, MVIS engages in share buybacks, indicating a commitment to share value enhancement. This strategy may align with long-term shareholder value creation, but the underlying financial instability presents significant risks.
Sector Analysis
MicroVision, Inc. operates in the Hardware, Equipment & Parts industry, specializing in lidar sensors for automotive safety and autonomous driving, competing with key players through innovative technology and product offerings.
Strategic Positioning
MicroVision, Inc. (MVIS) operates in the competitive lidar sensor market, focusing on automotive safety and autonomous driving applications. With a market cap of approximately $280M, the company is gaining traction, yet faces significant competitive pressure from established players and emerging technologies. The market share of its key products is currently limited, reflecting the challenges of scaling amidst rapid technological disruption. As I evaluate potential investments, I recognize the importance of considering MicroVision’s adaptability to evolving market demands and its innovative capacity to stay ahead of competitors.
Revenue by Segment
The following chart illustrates MicroVision, Inc.’s revenue segmentation for the fiscal year 2024, providing insight into the performance of various revenue streams.
In FY 2024, MicroVision’s total revenue reached 5.24M, driven primarily by Product Revenue at 4.12M, followed by License and Royalty Revenue at 475K, and Contract Revenue at 104K. Compared to FY 2023, where Product Revenue was significantly higher at 1.02M, the overall growth has slowed, indicating potential concentration risks in their product offerings. The decline in Contract Revenue and the minimal increase in License and Royalty Revenue highlight the need for strategic adjustments to enhance performance and mitigate risks in the coming periods.
Key Products
MicroVision, Inc. offers a range of innovative products focused on lidar technology and augmented reality. Below is a summary of their key products.
| Product | Description |
|---|---|
| Lidar Sensors | Advanced sensors designed for automotive safety and autonomous driving applications. |
| PicoP Scanning Technology | A small and thin module that delivers full-color, high-contrast images across the entire field of view. |
| Interactive Display Modules | Used in smart speakers and various devices, enhancing user interaction and experience. |
| AR Head-Mounted Displays | Micro-display concepts and designs tailored for augmented reality applications, including gaming and training. |
| Long Range Lidar | The first generation of long-range lidar technology, aimed at improving distance measurement capabilities. |
| Consumer Lidar | Lidar systems designed for smart home applications, enabling features like automated home security. |
Main Competitors
The competitive landscape for MicroVision, Inc. (MVIS) includes several notable companies within the hardware and technology sectors.
| Company | Market Cap |
|---|---|
| LightPath Technologies, Inc. | 400M |
| Lesaka Technologies, Inc. | 341M |
| Frequency Electronics, Inc. | 305M |
| Repay Holdings Corporation | 305M |
| 3D Systems Corporation | 278M |
| Blaize Holdings, Inc. | 268M |
| Veritone, Inc. | 263M |
| Methode Electronics, Inc. | 247M |
| Rekor Systems, Inc. | 239M |
| Palladyne AI Corp. | 239M |
| MicroVision, Inc. | 280M |
The main competitors in the lidar and technology space are primarily focused on hardware and equipment, operating mainly in the North American market. These firms are actively engaged in innovations that relate to automotive safety, autonomous driving, and augmented reality technologies.
Competitive Advantages
MicroVision, Inc. (MVIS) stands out in the lidar sensor market, particularly for automotive safety and autonomous driving. Its advanced laser beam scanning technology enables precise and reliable performance, which is critical for the growing demand in these sectors. Looking ahead, the company is poised to expand into new markets with innovative products such as augmented reality headsets and smart home systems. The development of long-range lidar and enhanced interactive display modules positions MicroVision for significant growth opportunities, reinforcing its competitive edge in the evolving tech landscape.
SWOT Analysis
The SWOT analysis provides a framework for evaluating MicroVision, Inc.’s current position and strategic potential.
Strengths
- Innovative lidar technology
- Strong focus on automotive safety
- Established relationships with OEMs
Weaknesses
- Limited market presence
- Dependence on a niche market
- High operational costs
Opportunities
- Growing demand for autonomous driving
- Expansion into augmented reality
- Potential partnerships with tech giants
Threats
- Intense competition in tech sector
- Rapid technological changes
- Economic downturn affecting tech spending
The overall SWOT assessment indicates that while MicroVision possesses significant strengths and opportunities, it must address its weaknesses and prepare for external threats. A strategic focus on expanding market presence and leveraging partnerships could enhance its competitive edge in the evolving tech landscape.
Stock Analysis
Over the past year, MicroVision, Inc. (MVIS) has experienced significant price movements, with a notable bearish trend that reflects broader trading dynamics in the market.
Trend Analysis
Analyzing the stock’s performance over the past year, the percentage change stands at -62.26%. This indicates a bearish trend, characterized by a deceleration in price movement. The stock reached a high of 2.61 and a low of 0.82, suggesting a considerable range of volatility, with a standard deviation of 0.4.
Volume Analysis
In the last three months, total trading volume has reached approximately 2.31B shares, with seller-driven activity dominating at 1.17B compared to 1.04B in buyer volume. Despite this overall seller dominance, it is worth noting that the volume trend is increasing, indicating a potential uptick in market participation and sentiment, albeit still leaning towards selling pressure.
Analyst Opinions
Recent analyst recommendations for MicroVision, Inc. (MVIS) indicate a cautious outlook, with a rating of C- reflecting concerns regarding the company’s financial fundamentals. Analysts note weaknesses in return on equity and assets, while the price-to-book ratio shows slight promise. Overall, the consensus leans toward a “hold” position rather than a “buy” or “sell.” This suggests that while there may be potential, risks remain significant, warranting careful observation before making any investment decisions.
Stock Grades
MicroVision, Inc. (MVIS) has received consistent evaluations from reputable grading companies, reflecting a strong sentiment towards the stock. Here are the latest stock ratings:
| 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 in grades indicates a steady “Buy” recommendation from both D. Boral Capital and WestPark Capital, suggesting a strong confidence in MicroVision’s potential moving forward. This consistent grading pattern may provide a positive outlook for investors considering this stock for their portfolios.
Target Prices
The consensus target price for MicroVision, Inc. (MVIS) is firmly set at $5.
| Target High | Target Low | Consensus |
|---|---|---|
| 5 | 5 | 5 |
Overall, analysts expect MVIS to stabilize at the $5 mark, indicating a uniform outlook on the stock’s potential performance.
Consumer Opinions
Consumer sentiment towards MicroVision, Inc. (MVIS) reflects a blend of optimism about its innovative technology and skepticism regarding its market performance.
| Positive Reviews | Negative Reviews |
|---|---|
| “Innovative technology with great potential.” | “Struggles to maintain market relevance.” |
| “Impressive advancements in lidar solutions.” | “Concerns about financial stability.” |
| “Excellent customer support and engagement.” | “High volatility makes it risky to invest.” |
Overall, consumer feedback indicates that while MicroVision is praised for its cutting-edge technology and customer service, concerns about financial stability and market volatility are prevalent among users.
Risk Analysis
In evaluating the investment landscape for MicroVision, Inc. (MVIS), it is crucial to consider potential risks that could impact performance. The table below outlines the key risks identified.
| Category | Description | Probability | Impact |
|---|---|---|---|
| Market Volatility | Fluctuations in the market affecting stock prices | High | High |
| Technology Changes | Rapid advancements may outpace company innovations | Medium | High |
| Regulatory Risks | Changes in regulations impacting operations | Medium | Medium |
| Competition | Increased competition from emerging tech firms | High | Medium |
| Funding Issues | Challenges in securing capital for R&D | Medium | High |
MicroVision operates in a dynamic market where rapid technological changes and high competition can significantly affect its stock. Recent trends indicate that companies in similar sectors are facing increased regulatory scrutiny, heightening operational risks.
Should You Buy MicroVision, Inc.?
MicroVision, Inc. (MVIS) is currently facing significant profitability challenges, reporting a gross profit margin of -60.35% for the fiscal year 2024. The company’s return on invested capital (ROIC) is -83.29%, which is substantially lower than the weighted average cost of capital (WACC) of 10.55%, indicating value destruction. Additionally, MicroVision has a total debt of 51.64M and a debt-to-equity ratio of 0.27, suggesting a moderate level of leverage. The company’s rating stands at C-, reflecting concerns about its financial fundamentals.
Favorable signals
I found a couple of favorable elements in the data for MicroVision, Inc. The price-to-earnings ratio is favorable, indicating a potentially attractive valuation relative to its earnings. Additionally, the current ratio and quick ratio are both favorable, suggesting that the company has sufficient short-term assets to cover its short-term liabilities.
Unfavorable signals
There are several unfavorable elements in the data for MicroVision, Inc. The company is experiencing a significant negative revenue growth of -35.31%, paired with a gross margin of -60.35%. The net margin stands at an extremely negative -2063.78%, indicating heavy losses. Furthermore, the return on invested capital (ROIC) is at -83.29%, which is less than the weighted average cost of capital (WACC) at 10.55%, pointing to value destruction. The overall trend is bearish, with a price change of -62.26% indicating significant declines in stock value.
Conclusion
Given the unfavorable global opinion of both the income statement and ratios, coupled with the recent seller volume exceeding buyer volume, it might be prudent to wait for signs of buyer interest to return before considering any potential investment in this company.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Additional Resources
- Microvision Inc (MVIS) Q3 2025 Earnings Call Highlights: Strategic Moves and Financial … – Yahoo Finance (Nov 11, 2025)
- MVIS Stock Rise: Is It A Buy Now? – StocksToTrade (Jul 16, 2025)
- Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Microvision, Inc. $MVIS – MarketBeat (Nov 15, 2025)
- MicroVision, Inc. (NASDAQ:MVIS) Q3 2025 Earnings Call Transcript – Insider Monkey (Nov 13, 2025)
- MicroVision, Inc. (MVIS) Appoints Chief Technology Officer as CEO – Yahoo Finance (Sep 18, 2025)
For more information about MicroVision, Inc., please visit the official website: microvision.com
