Microvision NASDAQ: MVIS reported second-quarter 2026 revenue of $1.5 million, up $1.3 million from the prior-year period, as the LiDAR company cited sales of its long-range IRIS sensors, short-range MOVIA L sensors and semiconductor engineering services. Management reiterated its full-year revenue outlook of $10 million to $16 million and raised its gross-margin forecast.
Chief Executive Officer Glen DeVos said the company’s “LiDAR 2.0” strategy is shifting MicroVision from a hardware-focused automotive supplier toward a LiDAR-based perception company serving industrial, security and defense, automotive, robotics, artificial intelligence and aerial-autonomy markets.
“The shift isn’t a slogan, it’s operational,” DeVos said, pointing to expanded product offerings, customer engagements and the integration of acquired Luminar LiDAR operations.
Revenue and Margin Results
Interim Chief Financial Officer Steph Hrynewich said product sales represented the principal driver of second-quarter revenue. Long-range IRIS sensors accounted for the predominant portion, while MOVIA L contributed a smaller amount. About 15% of revenue came from engineering services related to the company’s semiconductor business.
Industrial and security-and-defense customers were the primary sources of revenue during the quarter. For the first six months of 2026, MicroVision generated $2.4 million in revenue, an increase of $1.7 million from the first half of 2025. The company said roughly 75% of first-half revenue was tied to the portfolio expansion resulting from its acquisitions earlier this year.
Second-quarter gross margin was 44%, compared with a gross-margin loss a year earlier. First-half gross margin was 42%, also compared with a loss in the prior-year period. Hrynewich attributed the improvement to favorable product mix from acquired IRIS inventory and supply-chain efficiencies.
The company lifted its full-year gross-margin guidance to 40% to 45%, from a previous range of 35% to 40%. DeVos said MicroVision expects long-term gross margin to fall between 40% and 50%, with higher margins possible for products that include more software and perception features or address defense applications.
Cash Use, Liquidity and Operating Costs
Cash used in operations plus capital expenditures totaled $19.5 million in the second quarter and $36 million in the first half. Excluding acquisition-related expenses and restructuring charges, cash use was $17.4 million for the quarter and $33.8 million for the first half.
Hrynewich said second-quarter cash use increased sequentially because of non-recurring payments tied to post-acquisition consolidation, including a workforce reduction at the company’s Redmond location. She said MicroVision expects declining operating cash burn through the remainder of 2026 as integration work is completed, operating costs decrease and revenue grows in the second half.
MicroVision ended the quarter with $27.2 million in cash equivalents and investment securities. It also had approximately $41.2 million available under its at-the-market equity facility, subject to market conditions and applicable limitations. The company maintained its forecast for approximately $60 million in full-year cash burn from operations and capital expenditures.
During the call, management also discussed the company’s one-for-15 reverse stock split and increased authorized-share capacity. DeVos said the steps provide more flexibility to finance operating needs and support the company’s strategic plan.
Product Launches and Commercial Activity
Management highlighted plans to launch the MOVIA S short-range industrial sensor platform in October. DeVos said MicroVision has more than 25 active customer engagements and evaluations for MOVIA S, including quoting and development work. The company expects MOVIA S to be a meaningful contributor to revenue in 2027, though it does not expect a major 2026 contribution because of the October launch timing.
MicroVision is preparing capacity in Orlando for approximately 15,000 MOVIA S units next year on a single-shift basis, DeVos said.
The company also introduced MOVIA Air and MOVIA Air Plus for drones and lightweight aerial applications. DeVos said the products combine LiDAR and camera sensing to generate real-time 3D maps and support applications such as obstacle avoidance, navigation and situational awareness. Before the public launch, the company had delivered units to a major industrial drone-delivery company and a resource-exploration provider, while nine additional pre-launch partners were evaluating the products.
MicroVision plans to demonstrate MOVIA Air Plus at the Joint Interagency Field Experimentation event run by the Naval Postgraduate School.
Other commercial developments cited during the quarter included:
- A development agreement with a construction and mining equipment original equipment manufacturer to integrate two IRIS sensors on each off-highway truck in a next-generation autonomous hauling program.
- IRIS sensor shipments to Lake Fusion Technologies and Timberline Aerospace for situational-awareness solutions.
- MOVIA sensor deliveries to an unnamed artificial-intelligence company and hyperscaler for robotics, autonomous systems and AI evaluations.
- An order from a prime contractor supplying autonomous unmanned ground vehicles to the military, as the customer shifts away from 905-nanometer sensors.
- An IRIS order from an unnamed defense and aerospace contractor for unmanned aircraft applications.
Acquisitions, Semiconductor Efforts and Pipeline
DeVos said MicroVision integrated Luminar’s LiDAR business within roughly one quarter of the acquisition closing, including engineering personnel, manufacturing operations, inventory and customer programs. The company said it resumed shipments of IRIS inventory, maintained customer relationships and reduced expenses through consolidation.
The company also formalized MicroVision Semiconductor, which includes the former Black Forest Engineering team acquired from Luminar. DeVos said the unit will bring custom ASIC and mixed-signal chip design in-house, supporting MicroVision’s cost-reduction and sensor-integration plans. The semiconductor organization is also available to pursue external commercial projects.
Hrynewich said semiconductor engineering work represented about 15% of second-quarter revenue and is expected to contribute additional revenue in the third quarter as an existing project is completed. She added that the company is responding to multiple requests for quotations.
Management said its customer-engagement count has increased to more than 130, from more than 100 cited during the first-quarter call. DeVos said the company’s estimated booking opportunity from 2026 through 2030 rose to $750 million from $500 million, driven principally by MOVIA S opportunities and expanded industrial and security-and-defense activity.
MicroVision appointed James Byun as its first chief commercial officer during the quarter and said it expects to provide an update on its search for a permanent CFO soon.
About Microvision (NASDAQ:MVIS)
MicroVision, Inc NASDAQ: MVIS is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.
At the core of MicroVision's offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Microvision, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microvision wasn't on the list.
While Microvision currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
