What is Microvision's operating income?

Microvision's total operating income in 2025 was -$82.83 million, based on the following breakdown: Total Gross Profit: -$17.34 million Total Operating Expenses: $65.49 million

Microvision (MVIS) Financials

$0.38 -0.01 (-1.75%)

Closing price 07/13/2026 04:00 PM Eastern

Extended Trading

$0.36 -0.02 (-4.00%)

As of 09:09 AM Eastern

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Annual Income Statements for Microvision

This table shows Microvision's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-15	-16	-25	-27	-26	-14	-43	-53	-83	-97	-95
Consolidated Net Income / (Loss)	-15	-16	-25	-27	-26	-14	-43	-53	-83	-97	-95
Net Income / (Loss) Continuing Operations	-15	-16	-25	-27	-26	-14	-43	-53	-83	-97	-95
Total Pre-Tax Income	-15	-16	-25	-27	-26	-14	-43	-53	-82	-96	-95
Total Operating Income	-15	-16	-25	-27	-26	-14	-44	-54	-89	-86	-83
Total Gross Profit	2.01	4.39	-0.23	6.97	0.32	1.69	2.50	0.56	4.49	-2.83	-17
Total Revenue	9.19	15	9.63	18	8.89	3.09	2.50	0.66	7.26	4.70	1.21
Operating Revenue	9.19	15	9.63	18	8.89	3.09	2.50	0.66	7.26	4.70	1.21
Total Cost of Revenue	7.18	10	9.86	11	8.56	1.40	0.00	0.10	2.77	7.53	19
Operating Cost of Revenue	7.18	10	9.86	11	8.56	1.40	0.00	0.10	2.77	7.53	19
Total Operating Expenses	17	21	25	34	27	15	46	54	93	83	65
Selling, General & Admin Expense	7.88	8.74	10	9.52	8.13	5.92	22	24	37	29	20
Research & Development Expense	8.68	12	15	25	19	9.84	24	30	57	49	32
Impairment Charge	-	-	-	-	-	-	-	0.00	0.00	4.18	13
Other Special Charges / (Income)	-0.00	-0.03	-	-	0.00	-0.45	0.00	0.00	-0.03	0.14	0.00
Total Other Income / (Expense), net	0.00	0.00	0.00	0.00	-0.01	0.00	0.67	0.80	7.18	-11	-12
Interest Expense	-	-	-	-	0.00	0.00	-0.69	0.06	0.08	4.46	23
Other Income / (Expense), net	-	-	-	-	-0.01	-	-0.02	0.86	7.26	-6.43	11
Income Tax Expense	-	-	-	-	-	-	0.00	0.00	1.15	0.51	-0.08
Weighted Average Basic Shares Outstanding	46.54M	51.96M	72.79M	86.98M	111.30M	139.83M	160.66M	165.96M	182.80M	209.51M	273.14M
Diluted Earnings per Share	($0.31)	($0.32)	($0.35)	($0.31)	($0.24)	($0.10)	($0.27)	($0.32)	($0.45)	($0.46)	($0.35)
Weighted Average Diluted Shares Outstanding	46.54M	51.96M	72.79M	86.98M	111.30M	139.83M	160.66M	165.96M	182.80M	209.51M	273.14M
Weighted Average Basic & Diluted Shares Outstanding	46.54M	51.96M	72.79M	86.98M	111.30M	139.83K	160.66M	175.82M	195.27M	245.00M	306.58M

This table shows Microvision's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-23	-20	-26	-24	-16	-31	-29	-14	-14	-38	-25
Consolidated Net Income / (Loss)	-23	-20	-26	-24	-16	-31	-29	-14	-14	-38	-25
Net Income / (Loss) Continuing Operations	-23	-20	-26	-24	-16	-31	-29	-14	-14	-38	-25
Total Pre-Tax Income	-23	-19	-26	-24	-15	-31	-29	-14	-14	-38	-25
Total Operating Income	-24	-20	-27	-25	-16	-18	-14	-15	-13	-41	-23
Total Gross Profit	0.42	4.20	-0.32	0.35	-0.39	-2.47	0.04	-0.56	-0.72	-16	0.36
Total Revenue	1.05	5.10	0.96	1.90	0.19	1.65	0.59	0.16	0.24	0.22	0.94
Operating Revenue	1.05	5.10	0.96	1.90	0.19	1.65	0.59	0.16	0.24	0.22	0.94
Total Cost of Revenue	0.63	0.90	1.28	1.55	0.58	4.12	0.55	0.72	0.96	16	0.57
Operating Cost of Revenue	0.63	0.90	1.28	1.55	0.58	4.12	0.55	0.72	0.96	16	0.57
Total Operating Expenses	24	24	26	25	15	16	14	14	12	25	24
Selling, General & Admin Expense	8.74	9.52	9.08	7.75	6.60	5.92	6.68	6.44	4.03	3.19	9.51
Research & Development Expense	16	15	17	14	8.74	8.76	7.40	7.66	7.98	8.68	14
Impairment Charge	0.00	-	-	3.03	0.00	-	0.00	0.00	0.00	-	0.01
Other Special Charges / (Income)	-0.01	-	-	-	-0.02	-	0.00	-	0.00	-	-0.11
Total Other Income / (Expense), net	0.64	0.63	0.63	0.79	0.30	-13	-15	0.52	-1.32	3.23	-1.62
Interest Expense	-	-	0.02	0.01	0.02	-	18	2.17	2.20	1.26	5.84
Other Income / (Expense), net	0.64	0.71	0.65	0.80	0.32	-8.15	2.89	2.69	0.87	4.49	4.22
Income Tax Expense	0.21	0.48	0.23	0.08	0.11	0.08	0.07	0.09	0.17	-0.42	0.18
Basic Earnings per Share	($0.12)	($0.10)	($0.13)	($0.11)	($0.07)	-	($0.12)	($0.06)	($0.05)	-	($0.08)
Weighted Average Basic Shares Outstanding	188.31M	182.80M	196.75M	208.67M	213.00M	209.51M	235.93M	254.66M	295.46M	273.14M	308.65M
Diluted Earnings per Share	($0.12)	($0.10)	($0.13)	($0.11)	($0.07)	-	($0.12)	($0.06)	($0.05)	($0.12)	($0.08)
Weighted Average Diluted Shares Outstanding	188.31M	182.80M	196.75M	208.67M	213.00M	209.51M	235.93M	254.66M	295.46M	273.14M	308.65M
Weighted Average Basic & Diluted Shares Outstanding	189.99M	195.27M	206.66M	212.75M	219.02M	245.00M	249.26M	300.96M	305.40M	306.58M	331.62M

This table details how cash moves in and out of Microvision's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.46	7.25	1.83	-3.20	-7.93	11	66	-62	27	6.86	-22
Net Cash From Operating Activities	-5.83	-15	-15	-23	-24	-16	-29	-38	-67	-69	-59
Net Cash From Continuing Operating Activities	-5.41	-15	-11	-24	-24	-16	-29	-38	-67	-69	-59
Net Income / (Loss) Continuing Operations	-15	-16	-25	-27	-26	-14	-43	-53	-83	-97	-95
Consolidated Net Income / (Loss)	-15	-16	-25	-27	-26	-14	-43	-53	-83	-97	-95
Depreciation Expense	0.43	1.12	1.14	1.84	1.65	0.96	1.46	2.25	7.86	6.92	5.82
Amortization Expense	0.13	0.13	0.12	-	-	-	-	0.00	0.00	4.38	11
Non-Cash Adjustments To Reconcile Net Income	1.23	1.44	2.25	5.68	4.41	0.37	16	16	13	26	25
Changes in Operating Assets and Liabilities, net	6.93	-1.03	6.50	-2.84	-3.57	-3.77	-3.27	-2.81	-5.36	-9.15	-6.05
Net Cash From Investing Activities	-1.14	-0.89	-3.04	-1.12	-0.75	0.12	-35	-38	22	2.67	-25
Net Cash From Continuing Investing Activities	-1.14	-0.89	-3.04	-1.12	-0.75	0.12	-35	-38	22	2.67	-25
Purchase of Property, Plant & Equipment	-1.14	-0.90	-3.10	-1.12	-0.75	-0.40	-2.49	-4.36	-1.94	-0.37	-0.68
Acquisitions	-	-	-	-	-	-	0.00	-4.13	-11	-6.30	0.00
Purchase of Investments	-	-	-	-	0.00	0.00	-33	-90	-42	-26	-52
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	0.00	61	77	35	30
Other Investing Activities, net	-	-	-	-	-	0.00	-	-	0.00	0.00	-2.24
Net Cash From Financing Activities	6.51	23	20	20	17	27	131	14	72	73	61
Net Cash From Continuing Financing Activities	6.51	23	20	20	17	27	131	14	72	73	61
Repayment of Debt	-	-	-	-	-0.02	0.00	-0.49	-0.39	0.00	0.00	-17
Issuance of Debt	0.00	0.02	0.00	0.01	0.00	1.57	-	0.00	0.00	38	0.00
Issuance of Common Equity	6.51	23	20	20	17	24	123	14	72	35	77
Other Financing Activities, net	-	-	-	0.14	0.00	0.97	8.76	0.70	0.15	0.06	-0.01
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	0.00	0.27	-0.17	0.32

This table details how cash moves in and out of Microvision's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-13	-4.20	-3.05	-18	-10	38	-2.72	22	-1.26	-40	14
Net Cash From Operating Activities	-20	-17	-21	-19	-14	-15	-14	-13	-16	-15	-16
Net Cash From Continuing Operating Activities	-20	-17	-21	-19	-14	-15	-14	-13	-16	-15	-16
Net Income / (Loss) Continuing Operations	-23	-20	-26	-24	-16	-31	-29	-14	-14	-38	-25
Consolidated Net Income / (Loss)	-23	-20	-26	-24	-16	-31	-29	-14	-14	-38	-25
Depreciation Expense	2.14	1.58	1.80	1.77	1.68	1.67	1.41	1.54	1.40	1.48	2.37
Amortization Expense	-	-	0.00	-	-	-	5.56	2.16	2.19	1.25	2.74
Non-Cash Adjustments To Reconcile Net Income	4.40	4.39	3.48	6.55	2.26	14	11	-0.90	-2.43	17	-0.22
Changes in Operating Assets and Liabilities, net	-3.45	-2.81	0.28	-3.03	-2.51	-3.90	-3.47	-1.31	-3.43	2.15	3.96
Net Cash From Investing Activities	2.70	0.44	-3.28	-4.13	3.58	6.50	3.09	-0.32	-9.39	-18	9.21
Net Cash From Continuing Investing Activities	2.70	0.44	-3.28	-4.13	3.58	6.50	3.09	-0.32	-9.39	-18	9.21
Purchase of Property, Plant & Equipment	-0.50	0.05	-0.11	-0.17	0.01	-0.10	-0.10	-0.21	-0.13	-0.24	-0.14
Acquisitions	-	-	-3.26	-3.04	-	-	0.00	-	-	-	-33
Purchase of Investments	-9.80	-15	-7.81	-16	-2.08	-0.50	-10	-8.99	-14	-19	0.00
Sale and/or Maturity of Investments	13	15	7.90	15	5.66	7.10	14	8.88	4.29	3.45	43
Net Cash From Financing Activities	4.74	12	21	5.15	-0.02	47	8.21	35	24	-6.89	21
Net Cash From Continuing Financing Activities	4.74	12	21	5.15	-0.02	47	8.21	35	24	-6.89	21
Repayment of Debt	-	-	-	-	-	-	-	-	-	-11	21
Issuance of Common Equity	4.74	12	21	5.15	-0.02	8.66	8.21	35	30	4.11	0.31
Other Financing Activities, net	0.00	-0.00	0.06	-	-	-	-0.00	-0.00	-0.00	0.01	-0.00
Effect of Exchange Rate Changes	-	0.27	-0.03	0.06	0.11	-0.30	0.08	0.24	0.15	-0.15	-0.07

This table presents Microvision's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	14	20	30	23	12	21	130	115	130	121	103
Total Current Assets	11	17	23	18	7.84	18	119	91	87	82	81
Cash & Equivalents	7.89	15	17	14	5.84	17	83	21	45	54	32
Restricted Cash	-	-	-	-	-	-	-	0.00	3.26	0.26	0.50
Short-Term Investments	-	-	-	-	-	-	33	62	29	20	42
Accounts Receivable	1.69	0.37	0.70	1.46	1.08	-	-	0.00	0.95	0.93	0.05
Inventories, net	0.86	1.23	4.54	1.11	0.19	0.00	1.78	1.86	3.87	2.29	0.75
Other Current Assets	0.64	0.61	1.02	1.31	0.73	0.70	2.28	6.44	4.89	4.29	4.99
Plant, Property, & Equipment, net	1.67	1.54	3.25	2.99	1.85	1.88	3.03	6.83	9.03	7.06	4.28
Total Noncurrent Assets	1.30	1.22	3.30	2.39	2.15	1.56	7.77	17	34	32	18
Goodwill	-	-	-	-	-	-	-	-	-	-	0.00
Intangible Assets	0.85	0.72	0.60	0.49	0.22	0.16	0.12	0.08	17	11	0.03
Other Noncurrent Operating Assets	0.02	0.07	2.26	1.47	1.49	1.40	7.65	17	17	21	18
Total Liabilities & Shareholders' Equity	14	20	30	23	12	21	130	115	130	121	103
Total Liabilities	14	13	20	19	16	12	17	25	34	72	48
Total Current Liabilities	7.70	7.24	19	18	14	10	12	11	21	46	30
Short-Term Debt	-	-	0.00	0.02	0.00	0.43	0.39	0.00	0.00	24	19
Accounts Payable	2.18	2.20	3.06	2.41	1.87	0.63	3.58	2.06	2.27	1.13	1.63
Accrued Expenses	3.40	3.70	5.86	5.60	2.05	0.50	1.17	2.06	15	2.54	5.43
Current Deferred Revenue	2.12	1.17	0.01	0.00	9.78	7.77	5.27	4.60	-	0.31	0.00
Other Current Liabilities	-	0.18	10	10	0.76	0.71	2.05	2.71	3.29	18	3.88
Total Noncurrent Liabilities	6.49	5.39	0.61	0.73	1.36	1.97	5.01	14	13	26	17
Capital Lease Obligations	-	-	0.00	0.03	0.01	0.04	0.03	-	13	0.00	0.03
Other Noncurrent Operating Liabilities	-	-	-	0.00	1.35	0.77	4.98	14	0.61	18	17
Commitments & Contingencies	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-0.15	7.47	10	4.12	-3.98	9.01	113	90	96	49	56
Total Preferred & Common Equity	-0.15	7.47	10	4.12	-3.98	9.01	113	90	96	49	56
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-0.15	7.47	10	4.12	-3.98	9.01	113	90	96	49	56
Common Stock	483	507	529	550	569	595	742	772	861	911	1,012
Retained Earnings	-483	-500	-519	-546	-573	-586	-629	-683	-765	-862	-957
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-0.02	-0.13	0.21	0.00	0.67

This table presents Microvision's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	109	123	149	136	124	103	88	117	141	151	110
Total Current Assets	88	77	103	91	82	67	53	79	103	115	54
Cash & Equivalents	22	23	62	49	44	27	17	52	74	73	46
Restricted Cash	-	3.26	3.26	3.26	0.07	0.07	0.27	0.07	0.08	0.33	0.49
Short-Term Investments	61	45	32	29	29	30	27	17	17	27	0.00
Accounts Receivable	-	0.51	0.82	0.74	1.12	1.97	0.23	0.25	0.10	0.04	0.73
Inventories, net	1.76	3.12	2.93	3.62	3.74	4.20	4.49	2.53	6.13	8.13	4.03
Other Current Assets	2.83	2.37	2.33	5.77	4.30	3.65	4.86	7.10	5.47	6.97	2.86
Plant, Property, & Equipment, net	4.55	10	9.95	9.46	8.55	8.13	7.67	6.82	6.74	6.57	17
Total Noncurrent Assets	17	36	35	35	33	29	28	31	31	29	39
Goodwill	-	-	-	-	-	-	-	-	-	-	3.68
Intangible Assets	0.09	19	18	18	17	13	13	11	11	10	14
Other Noncurrent Operating Assets	17	17	17	17	17	16	15	20	20	19	21
Total Liabilities & Shareholders' Equity	109	123	149	136	124	103	88	117	141	151	110
Total Liabilities	24	37	36	38	30	25	22	64	64	60	71
Total Current Liabilities	9.96	22	23	24	18	13	11	42	43	40	52
Short-Term Debt	0.00	-	8.48	8.55	5.14	0.00	0.00	30	32	29	32
Accounts Payable	1.52	3.63	1.89	2.29	2.16	1.45	1.49	1.27	1.56	1.34	4.54
Accrued Expenses	1.59	10	6.60	7.20	9.97	8.89	5.89	2.19	2.27	3.75	7.54
Current Deferred Revenue	4.60	-	5.73	4.96	0.21	0.17	0.18	-	0.34	0.15	0.41
Other Current Liabilities	2.25	8.11	0.00	1.06	0.27	2.14	3.05	8.29	6.39	5.70	7.13
Total Noncurrent Liabilities	14	15	13	14	13	12	12	22	21	20	19
Capital Lease Obligations	0.00	-	-	-	-	-	-	15	0.03	0.03	16
Other Noncurrent Operating Liabilities	14	14	13	14	13	12	12	6.22	21	20	2.62
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	86	87	113	98	94	79	66	53	77	91	40
Total Preferred & Common Equity	86	87	113	98	94	79	66	53	77	91	40
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	86	87	113	98	94	79	66	53	77	91	40
Common Stock	755	788	835	844	885	894	897	944	982	1,010	1,022
Retained Earnings	-669	-702	-722	-746	-792	-816	-831	-891	-905	-920	-983
Accumulated Other Comprehensive Income / (Loss)	-0.19	0.06	-0.01	0.05	0.16	0.10	0.34	0.12	0.52	0.65	0.56

This table displays calculated financial ratios and metrics derived from Microvision's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	47,232,000.00	53,944,000.00	78,594,000.00	93,073,343.00	119,417,078.00	146,405,910.00	164,103,810.00	-	-	-	305,397,269.00
DEI Adjusted Shares Outstanding	47,232,000.00	53,944,000.00	78,594,000.00	93,073,343.00	119,417,078.00	146,405,910.00	164,103,810.00	-	-	-	305,397,269.00
DEI Earnings Per Adjusted Shares Outstanding	-0.31	-0.31	-0.32	-0.29	-0.22	-0.09	-0.26	-	-	-	-0.31
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	163.64%	60.66%	-34.73%	82.76%	-49.53%	-65.23%	-19.09%	-73.44%	993.22%	-35.31%	-74.28%
EBITDA Growth	20.44%	-8.70%	-59.25%	-4.78%	2.16%	49.05%	-235.35%	-19.69%	-45.23%	-9.35%	31.94%
EBIT Growth	19.77%	-13.11%	-54.82%	-6.83%	2.71%	48.59%	-222.38%	-20.82%	-53.91%	-12.66%	21.83%
NOPAT Growth	-10.50%	-13.11%	-54.82%	-6.83%	2.75%	48.57%	-222.21%	-22.84%	-64.92%	3.78%	3.15%
Net Income Growth	19.75%	-13.27%	-54.72%	-6.92%	2.81%	48.52%	-216.85%	-22.90%	-56.04%	-16.99%	2.00%
EPS Growth	29.55%	-3.23%	-9.38%	11.43%	22.58%	58.33%	-170.00%	-18.52%	-40.63%	0.00%	23.91%
Operating Cash Flow Growth	55.01%	-154.35%	-4.44%	-45.82%	-6.52%	33.14%	-82.92%	-29.30%	-76.46%	-2.16%	14.33%
Free Cash Flow Firm Growth	75.55%	-230.01%	-57.94%	15.04%	-14.26%	26.07%	-156.51%	-35.15%	-84.57%	40.98%	-43.85%
Invested Capital Growth	-343.31%	5.06%	12.89%	-43.08%	-2.09%	39.19%	64.75%	420.36%	347.63%	-27.69%	-107.99%
Revenue Q/Q Growth	14.44%	7.73%	-5.89%	-2.59%	45.34%	-57.67%	6.93%	-45.62%	236.38%	-42.36%	-54.16%
EBITDA Q/Q Growth	-6.87%	-4.51%	-13.25%	-17.75%	25.40%	-2.55%	-26.52%	-0.23%	2.79%	-3.70%	-32.87%
EBIT Q/Q Growth	-6.97%	-6.76%	-12.22%	-16.33%	24.61%	-2.13%	-26.08%	-0.98%	1.65%	-8.69%	-16.63%
NOPAT Q/Q Growth	-6.97%	-6.76%	-12.22%	-16.33%	24.64%	-2.13%	-26.02%	-2.62%	-7.10%	1.63%	-38.30%
Net Income Q/Q Growth	-7.01%	-6.96%	-12.09%	-16.35%	24.65%	-2.14%	-26.52%	-1.63%	-8.18%	-13.35%	-7.47%
EPS Q/Q Growth	-14.81%	-3.23%	0.00%	-6.90%	-20.00%	50.00%	0.00%	0.00%	-4.65%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-11.97%	-2.04%	-31.07%	16.69%	-5.25%	6.43%	-20.26%	-0.65%	-13.88%	2.17%	-0.60%
Free Cash Flow Firm Q/Q Growth	-24.89%	-3.85%	-85.15%	42.85%	-29.56%	-2.12%	-14.39%	-13.94%	-6.69%	11.41%	-28.44%
Invested Capital Q/Q Growth	-2.75%	-6.81%	47.03%	-544.19%	14.72%	22.90%	-5.73%	196.83%	23.42%	1.69%	-102.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.85%	29.72%	-2.37%	39.58%	3.62%	54.76%	99.92%	84.94%	61.81%	-60.35%	-1,435.43%
EBITDA Margin	-152.30%	-103.05%	-251.43%	-144.16%	-279.47%	-409.45%	-1,697.12%	-7,648.04%	-1,016.01%	-1,717.40%	-4,544.04%
Operating Margin	-158.36%	-111.50%	-264.48%	-154.60%	-297.91%	-440.61%	-1,754.76%	-8,115.96%	-1,224.34%	-1,821.10%	-6,856.62%
EBIT Margin	-158.36%	-111.50%	-264.48%	-154.60%	-298.03%	-440.61%	-1,755.68%	-7,986.30%	-1,124.34%	-1,958.07%	-5,950.33%
Profit (Net Income) Margin	-158.27%	-111.59%	-264.54%	-154.77%	-298.03%	-441.23%	-1,728.00%	-7,995.63%	-1,141.23%	-2,063.78%	-7,862.67%
Tax Burden Percent	99.95%	100.09%	100.02%	100.11%	100.00%	100.14%	100.00%	100.00%	101.40%	100.53%	99.91%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	98.42%	100.12%	100.10%	104.85%	132.26%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,559.77%	-323.11%	-220.74%	-1,851.20%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,544.22%	-295.05%	-138.71%	-1,775.73%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,507.33%	233.81%	86.67%	1,669.10%
Return on Equity (ROE)	-432.86%	-449.99%	-290.27%	-383.72%	-37,832.86%	-541.89%	-70.96%	-52.44%	-89.30%	-134.07%	-182.10%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-667.66%	-450.06%	-188.60%	0.00%
Operating Return on Assets (OROA)	-111.98%	-96.39%	-102.18%	-103.11%	-151.90%	-82.91%	-58.05%	-43.25%	-66.73%	-73.33%	-64.10%
Return on Assets (ROA)	-111.92%	-96.47%	-102.20%	-103.22%	-151.90%	-83.03%	-57.13%	-43.30%	-67.73%	-77.29%	-84.70%
Return on Common Equity (ROCE)	-432.86%	-449.99%	-290.27%	-383.72%	-37,832.86%	-541.89%	-70.96%	-52.44%	-89.30%	-134.07%	-182.10%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-220.39%	-252.69%	-661.89%	665.90%	-151.34%	-38.31%	-59.16%	-86.47%	-198.72%	0.00%
Net Operating Profit after Tax (NOPAT)	-10	-12	-18	-19	-19	-9.53	-31	-38	-62	-60	-58
NOPAT Margin	-110.85%	-78.05%	-185.14%	-108.22%	-208.53%	-308.43%	-1,228.33%	-5,681.17%	-857.04%	-1,274.77%	-4,799.64%
Net Nonoperating Expense Percent (NNEP)	-50.94%	-41.53%	-46.91%	-52.47%	-77.93%	-38.17%	-19.19%	-15.55%	-28.06%	-82.03%	-75.47%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-42.04%	-57.33%	-61.26%	-77.53%
Cost of Revenue to Revenue	78.15%	70.28%	102.37%	60.42%	96.38%	45.24%	0.08%	15.06%	38.19%	160.35%	1,535.43%
SG&A Expenses to Revenue	85.75%	59.23%	105.42%	54.09%	91.53%	191.49%	890.24%	3,620.63%	505.43%	624.91%	1,682.53%
R&D to Revenue	94.47%	82.20%	156.70%	140.09%	210.00%	318.45%	964.44%	4,580.27%	781.20%	1,043.76%	2,625.83%
Operating Expenses to Revenue	180.21%	141.22%	262.11%	194.18%	301.53%	495.37%	1,854.68%	8,200.90%	1,286.16%	1,760.75%	5,421.19%
Earnings before Interest and Taxes (EBIT)	-15	-16	-25	-27	-26	-14	-44	-53	-82	-92	-72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-15	-24	-25	-25	-13	-42	-51	-74	-81	-55
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	9.09	12.70	13.65	0.00	87.43	7.29	4.35	5.28	5.88	4.55
Price to Tangible Book Value (P/TBV)	0.00	10.06	13.51	15.48	0.00	89.05	7.30	4.35	6.43	7.59	4.56
Price to Revenue (P/Rev)	14.70	4.60	13.30	3.19	9.68	254.91	328.86	587.62	69.62	61.10	209.35
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43.73	14.01	11.46	0.00
Enterprise Value to Revenue (EV/Rev)	13.84	3.58	11.57	2.41	9.02	249.98	282.88	463.06	60.76	55.56	162.92
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.01	0.03	0.01	0.00	0.18	0.00	0.00	0.13	1.00	0.35
Long-Term Debt to Equity	0.00	0.01	0.03	0.01	0.00	0.13	0.00	0.00	0.13	0.51	0.00
Financial Leverage	-2.55	-3.26	-1.86	-2.20	-145.79	-4.27	-1.07	-0.98	-0.79	-0.62	-0.94
Leverage Ratio	3.87	4.66	2.84	3.72	249.06	6.53	1.24	1.21	1.32	1.73	2.15
Compound Leverage Factor	3.87	4.66	2.84	3.72	249.06	6.53	1.22	1.21	1.32	1.82	2.84
Debt to Total Capital	0.00%	0.70%	2.94%	1.29%	-0.23%	15.29%	0.37%	0.00%	11.72%	50.10%	25.73%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.50%	0.00%	4.05%	0.35%	0.00%	0.00%	24.81%	25.69%
Long-Term Debt to Total Capital	0.00%	0.70%	2.94%	0.79%	-0.23%	11.24%	0.02%	0.00%	11.72%	25.28%	0.04%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	99.30%	97.06%	98.71%	100.23%	84.71%	99.63%	100.00%	88.28%	49.90%	74.27%
Debt to EBITDA	0.00	0.00	-0.01	0.00	0.00	-0.13	-0.01	0.00	-0.17	-0.61	-0.35
Net Debt to EBITDA	0.00	0.99	0.69	0.54	0.23	1.20	2.71	0.00	0.87	0.32	1.02
Long-Term Debt to EBITDA	0.00	0.00	-0.01	0.00	0.00	-0.09	0.00	0.00	-0.17	-0.31	0.00
Debt to NOPAT	0.00	0.00	-0.02	0.00	0.00	-0.17	-0.01	0.00	-0.20	-0.82	-0.33
Net Debt to NOPAT	0.00	1.31	0.93	0.72	0.31	1.60	3.74	0.00	1.03	0.43	0.97
Long-Term Debt to NOPAT	0.00	0.00	-0.02	0.00	0.00	-0.13	0.00	0.00	-0.20	-0.41	0.00
Altman Z-Score	-44.96	-32.94	-22.83	-34.57	-71.77	-1.24	21.36	0.28	-0.71	-9.69	-11.50
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.44	2.39	1.22	0.97	0.54	1.75	9.58	7.97	4.23	1.79	2.69
Quick Ratio	1.24	2.14	0.93	0.84	0.48	1.68	9.26	7.24	3.64	1.65	2.48
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.62	-12	-19	-16	-18	-14	-35	-47	-87	-51	-51
Operating Cash Flow to CapEx	-511.14%	-1,663.41%	-509.01%	-2,018.96%	-3,227.25%	0.00%	-1,179.46%	-872.20%	-3,467.18%	-18,326.20%	-8,648.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-757.26	-1,083.22	-11.48	-2.18
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-613.21	-838.63	-15.38	-2.53
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-683.52	-862.81	-15.46	-2.56
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.86	0.39	0.67	0.51	0.19	0.03	0.01	0.06	0.04	0.01
Accounts Receivable Turnover	7.80	14.35	18.09	16.32	6.99	0.00	0.00	0.00	0.00	5.01	2.48
Inventory Turnover	14.68	9.90	3.42	3.77	13.17	0.00	0.00	0.05	0.97	2.44	12.21
Fixed Asset Turnover	7.17	9.21	4.02	5.64	3.67	1.66	1.02	0.13	0.92	0.58	0.21
Accounts Payable Turnover	3.77	4.74	3.75	3.89	4.00	1.12	0.00	0.04	1.28	4.43	13.44
Days Sales Outstanding (DSO)	46.80	25.43	20.17	22.37	52.21	0.00	0.00	0.00	0.00	72.87	147.00
Days Inventory Outstanding (DIO)	24.86	36.86	106.85	96.93	27.72	0.00	0.00	6,644.83	377.57	149.49	29.90
Days Payable Outstanding (DPO)	96.82	77.02	97.30	93.91	91.25	326.49	384,527.50	10,302.13	285.21	82.48	27.16
Cash Conversion Cycle (CCC)	-25.16	-14.73	29.72	25.39	-11.32	-326.49	-384,527.50	-3,657.30	92.37	139.88	149.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-8.48	-8.05	-7.01	-10	-10	-6.23	-2.20	7.03	31	23	-0.54
Invested Capital Turnover	-1.77	-1.79	-1.28	-2.07	-0.88	-0.38	-0.59	0.27	0.38	0.17	0.39
Increase / (Decrease) in Invested Capital	-6.56	0.43	1.04	-3.02	-0.21	4.01	4.03	9.23	24	-8.72	-7.35
Enterprise Value (EV)	127	53	111	42	80	772	707	307	441	261	197
Market Capitalization	135	68	128	56	86	788	822	390	505	287	253
Book Value per Share	$0.00	$0.14	$0.13	$0.04	($0.03)	$0.06	$0.69	$0.54	$0.50	$0.22	$0.18
Tangible Book Value per Share	($0.02)	$0.13	$0.12	$0.04	($0.04)	$0.06	$0.69	$0.54	$0.41	$0.17	$0.18
Total Capital	-0.15	7.53	10	4.17	-3.97	11	113	90	109	98	75
Total Debt	0.00	0.05	0.31	0.05	0.01	1.63	0.42	0.00	13	49	19
Total Long-Term Debt	0.00	0.05	0.31	0.03	0.01	1.20	0.03	0.00	13	25	0.03
Net Debt	-7.89	-15	-17	-14	-5.83	-15	-115	-83	-64	-26	-56
Capital Expenditures (CapEx)	1.14	0.89	3.04	1.12	0.75	-0.12	2.49	4.36	1.94	0.37	0.68
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4.52	-5.04	-13	-14	-12	-8.90	-8.01	-3.13	-11	-14	-5.16
Debt-free Net Working Capital (DFNWC)	3.37	10	4.14	-0.52	-6.62	7.96	107	80	66	61	70
Net Working Capital (NWC)	3.37	10	4.14	-0.54	-6.62	7.53	107	80	66	37	51
Net Nonoperating Expense (NNE)	4.36	4.95	7.65	8.20	7.95	4.10	12	15	21	37	37
Net Nonoperating Obligations (NNO)	-8.32	-16	-17	-14	-6.26	-15	-115	-83	-64	-26	-56
Total Depreciation and Amortization (D&A)	0.56	1.25	1.26	1.84	1.65	0.96	1.46	2.25	7.86	11	17
Debt-free, Cash-free Net Working Capital to Revenue	-49.16%	-34.11%	-133.10%	-81.13%	-140.18%	-287.99%	-320.28%	-470.93%	-148.64%	-302.30%	-426.82%
Debt-free Net Working Capital to Revenue	36.69%	68.45%	43.00%	-2.94%	-74.49%	257.70%	4,294.40%	11,985.24%	912.67%	1,294.02%	5,809.19%
Net Working Capital to Revenue	36.69%	68.45%	43.00%	-3.06%	-74.49%	243.75%	4,278.72%	11,985.24%	912.67%	777.66%	4,218.79%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.31)	($0.32)	($0.33)	($0.31)	($0.24)	$0.00	($0.27)	($0.32)	($0.45)	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	47.44M	68.12M	78.61M	102.11M	128.08M	0.00	164.63M	165.96M	182.80M	209.51M	273.14M
Adjusted Diluted Earnings per Share	($0.31)	($0.32)	($0.33)	($0.31)	($0.24)	$0.00	($0.27)	($0.32)	($0.45)	$0.00	($0.35)
Adjusted Weighted Average Diluted Shares Outstanding	47.44M	68.12M	78.61M	102.11M	128.08M	0.00	164.63M	165.96M	182.80M	209.51M	273.14M
Adjusted Basic & Diluted Earnings per Share	($0.31)	($0.32)	($0.33)	($0.31)	($0.24)	($0.10)	($0.27)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.54M	51.96M	72.79M	86.98M	111.30M	139.83M	160.66M	175.82M	195.27M	245.00M	306.58M
Normalized Net Operating Profit after Tax (NOPAT)	-10	-12	-18	-19	-19	-9.85	-31	-38	-62	-57	-49
Normalized NOPAT Margin	-110.86%	-78.20%	-185.14%	-108.22%	-208.53%	-318.62%	-1,228.33%	-5,681.17%	-857.37%	-1,210.32%	-4,020.65%
Pre Tax Income Margin	-158.36%	-111.50%	-264.48%	-154.60%	-298.03%	-440.61%	-1,728.00%	-7,995.63%	-1,125.44%	-2,052.98%	-7,869.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-855.31	-1,020.20	-20.63	-3.10
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-608.44	-777.66	-13.43	-2.50
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-925.61	-1,044.39	-20.71	-3.13
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-678.74	-801.84	-13.52	-2.53
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Microvision's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	245,004,785.00	249,261,553.00	300,964,884.00	305,397,269.00	306,579,855.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	245,004,785.00	249,261,553.00	300,964,884.00	305,397,269.00	306,579,855.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.12	-0.06	-0.05	-0.12	-0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	22.25%	477.51%	-81.85%	-67.65%	-38.39%	-91.84%	26.84%	-86.48%	58.74%
EBITDA Growth	-71.34%	-33.64%	-48.75%	-18.03%	34.98%	-41.67%	82.76%	62.57%	39.75%	-65.87%	-238.71%
EBIT Growth	-80.98%	-37.06%	-38.38%	-17.29%	33.75%	-38.76%	57.22%	49.79%	23.00%	-38.43%	-72.89%
NOPAT Growth	-82.38%	-42.12%	-26.04%	-3.06%	34.27%	7.12%	47.44%	40.50%	19.01%	-124.18%	-67.34%
Net Income Growth	-82.62%	-46.47%	-38.29%	-16.11%	33.88%	-57.85%	-9.37%	40.54%	8.38%	-21.19%	12.11%
EPS Growth	-50.00%	-25.00%	-18.18%	8.33%	41.67%	0.00%	7.69%	45.45%	28.57%	20.00%	33.33%
Operating Cash Flow Growth	-126.23%	-97.29%	-53.98%	-11.97%	30.89%	9.18%	32.09%	31.69%	-17.01%	-2.32%	-16.63%
Free Cash Flow Firm Growth	-192.75%	-101.68%	3.68%	60.40%	80.25%	89.01%	52.73%	59.41%	18.73%	-284.31%	-105.66%
Invested Capital Growth	976.57%	347.63%	65.98%	-7.96%	-12.24%	-27.69%	14.95%	-18.37%	-11.20%	-107.99%	39.45%
Revenue Q/Q Growth	218.24%	387.20%	-81.26%	98.74%	-90.00%	768.42%	-64.30%	-73.68%	55.48%	-7.47%	319.28%
EBITDA Q/Q Growth	-12.93%	16.64%	-37.28%	9.07%	37.79%	-81.63%	79.71%	-97.47%	-0.04%	-313.88%	58.57%
EBIT Q/Q Growth	-14.40%	17.53%	-35.39%	8.56%	35.38%	-72.74%	58.19%	-7.33%	0.99%	-211.59%	47.79%
NOPAT Q/Q Growth	0.02%	16.77%	-34.30%	7.78%	36.23%	-17.61%	23.99%	-4.39%	13.20%	-225.53%	43.27%
Net Income Q/Q Growth	-13.88%	15.90%	-33.32%	9.06%	35.16%	-100.78%	7.63%	50.56%	0.08%	-165.57%	33.01%
EPS Q/Q Growth	0.00%	16.67%	-30.00%	15.38%	36.36%	0.00%	20.00%	50.00%	16.67%	-140.00%	33.33%
Operating Cash Flow Q/Q Growth	-22.51%	18.69%	-25.22%	10.24%	24.38%	-6.85%	6.36%	9.71%	-29.53%	6.57%	-6.74%
Free Cash Flow Firm Q/Q Growth	-2.89%	3.75%	9.39%	47.01%	48.68%	46.46%	-216.59%	54.50%	-2.75%	-238.13%	-30.09%
Invested Capital Q/Q Growth	6.92%	23.42%	2.94%	-14.91%	1.95%	1.69%	335.63%	-39.57%	10.91%	-102.74%	7,702.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.31%	82.32%	-33.58%	18.21%	-206.84%	-149.45%	6.62%	-361.94%	-297.10%	-7,220.63%	38.82%
EBITDA Margin	-2,017.29%	-345.15%	-2,539.64%	-1,161.89%	-7,227.89%	-1,511.70%	-710.02%	-5,327.74%	-3,427.80%	-15,332.29%	-1,514.97%
Operating Margin	-2,282.24%	-389.90%	-2,793.93%	-1,296.37%	-8,266.32%	-1,119.52%	-2,383.70%	-9,455.48%	-5,278.42%	-18,569.96%	-2,512.73%
EBIT Margin	-2,221.39%	-376.04%	-2,727.93%	-1,255.05%	-8,110.00%	-1,613.15%	-1,892.87%	-7,720.00%	-4,916.18%	-16,554.71%	-2,061.60%
Profit (Net Income) Margin	-2,241.55%	-386.92%	-2,752.41%	-1,259.47%	-8,166.84%	-1,888.18%	-4,886.08%	-9,180.00%	-5,899.17%	-16,930.94%	-2,705.24%
Tax Burden Percent	100.91%	102.47%	100.90%	100.35%	100.70%	100.26%	100.25%	100.66%	101.22%	98.89%	100.72%
Interest Burden Percent	100.00%	100.42%	100.00%	100.00%	100.00%	116.74%	257.48%	118.13%	118.54%	103.42%	130.28%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-247.38%	-102.90%	-703.23%	-356.75%	-1,968.88%	-135.70%	-260.50%	-857.81%	-460.77%	-5,013.65%	-76.98%
ROIC Less NNEP Spread (ROIC-NNEP)	-238.73%	-94.99%	-692.27%	-347.55%	-1,961.10%	-95.35%	-219.10%	-850.97%	-451.47%	-4,995.77%	4.46%
Return on Net Nonoperating Assets (RNNOA)	202.54%	75.27%	533.56%	264.29%	1,388.87%	59.58%	136.44%	633.18%	329.62%	4,695.78%	-1.05%
Return on Equity (ROE)	-44.83%	-27.62%	-169.66%	-92.46%	-580.02%	-76.12%	-124.05%	-224.63%	-131.15%	-317.87%	-78.02%
Cash Return on Invested Capital (CROIC)	-582.80%	-450.06%	-369.25%	-282.44%	-241.13%	-188.60%	-197.82%	-200.52%	-186.54%	0.00%	-214.87%
Operating Return on Assets (OROA)	-39.08%	-22.32%	-163.89%	-89.66%	-589.38%	-60.41%	-68.02%	-163.49%	-108.36%	-178.33%	-28.23%
Return on Assets (ROA)	-39.43%	-22.96%	-165.36%	-89.98%	-593.51%	-70.71%	-175.59%	-194.41%	-130.03%	-182.38%	-37.05%
Return on Common Equity (ROCE)	-44.83%	-27.62%	-169.66%	-92.46%	-580.02%	-76.12%	-124.05%	-224.63%	-131.15%	-317.87%	-78.02%
Return on Equity Simple (ROE_SIMPLE)	-77.94%	0.00%	-96.08%	-118.73%	-129.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-17	-14	-19	-17	-11	-13	-9.83	-10	-8.90	-29	-16
NOPAT Margin	-1,597.56%	-272.93%	-1,955.75%	-907.46%	-5,786.42%	-783.66%	-1,668.59%	-6,618.84%	-3,694.90%	-12,998.97%	-1,758.91%
Net Nonoperating Expense Percent (NNEP)	-8.64%	-7.91%	-10.96%	-9.20%	-7.78%	-40.35%	-41.40%	-6.85%	-9.29%	-17.88%	-81.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-12.83%	-	-	-	-13.23%	-9.95%	-9.38%	-7.44%	-38.76%	-18.70%
Cost of Revenue to Revenue	59.69%	17.68%	133.58%	81.79%	306.84%	249.45%	93.38%	461.94%	397.10%	7,320.63%	61.18%
SG&A Expenses to Revenue	835.05%	186.57%	949.58%	407.68%	3,473.16%	358.97%	1,133.45%	4,152.90%	1,670.95%	1,428.25%	1,017.22%
R&D to Revenue	1,488.44%	285.83%	1,810.77%	747.58%	4,597.89%	531.15%	1,256.88%	4,940.65%	3,310.37%	3,892.83%	1,544.92%
Operating Expenses to Revenue	2,322.54%	472.22%	2,760.36%	1,314.58%	8,059.47%	970.06%	2,390.32%	9,093.55%	4,981.33%	11,349.33%	2,551.55%
Earnings before Interest and Taxes (EBIT)	-23	-19	-26	-24	-15	-27	-11	-12	-12	-37	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-21	-18	-24	-22	-14	-25	-4.18	-8.26	-8.26	-34	-14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.19	5.28	3.83	2.78	3.68	5.88	5.71	3.69	4.11	4.55	4.97
Price to Tangible Book Value (P/TBV)	5.11	6.43	4.66	3.34	4.55	7.59	7.15	4.27	4.64	4.56	8.85
Price to Revenue (P/Rev)	190.57	69.62	48.34	24.33	29.77	61.10	70.18	109.97	141.63	209.35	126.50
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	13.27	14.01	11.29	7.39	8.89	11.46	9.45	12.55	15.21	0.00	4.80
Enterprise Value to Revenue (EV/Rev)	156.85	60.76	39.19	18.03	24.43	55.56	64.74	87.07	114.75	162.92	127.67
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.13	0.05	0.00	0.00	1.00	0.86	0.42	0.32	0.35	1.22
Long-Term Debt to Equity	0.00	0.13	0.00	0.00	0.00	0.51	0.29	0.00	0.00	0.00	0.41
Financial Leverage	-0.85	-0.79	-0.77	-0.76	-0.71	-0.62	-0.62	-0.74	-0.73	-0.94	-0.23
Leverage Ratio	1.33	1.32	1.37	1.32	1.37	1.73	1.64	1.57	1.53	2.15	2.45
Compound Leverage Factor	1.33	1.32	1.37	1.32	1.37	2.03	4.22	1.85	1.81	2.22	3.19
Debt to Total Capital	8.01%	11.72%	5.19%	0.00%	0.00%	50.10%	46.13%	29.52%	24.22%	25.73%	55.05%
Short-Term Debt to Total Capital	8.01%	0.00%	5.19%	0.00%	0.00%	24.81%	30.48%	29.50%	24.19%	25.69%	36.54%
Long-Term Debt to Total Capital	0.00%	11.72%	0.00%	0.00%	0.00%	25.28%	15.65%	0.03%	0.03%	0.04%	18.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	91.99%	88.28%	94.81%	100.00%	100.00%	49.90%	53.87%	70.48%	75.78%	74.27%	44.95%
Debt to EBITDA	-0.11	-0.17	-0.06	0.00	0.00	-0.61	-0.75	-0.69	-0.70	-0.35	-0.75
Net Debt to EBITDA	0.96	0.87	0.83	0.00	0.00	0.32	0.39	1.27	1.71	1.02	-0.03
Long-Term Debt to EBITDA	0.00	-0.17	0.00	0.00	0.00	-0.31	-0.26	0.00	0.00	0.00	-0.25
Debt to NOPAT	-0.15	-0.20	-0.08	0.00	0.00	-0.82	-0.89	-0.73	-0.69	-0.33	-0.75
Net Debt to NOPAT	1.25	1.03	1.03	0.00	0.00	0.43	0.46	1.34	1.69	0.97	-0.03
Long-Term Debt to NOPAT	0.00	-0.20	0.00	0.00	0.00	-0.41	-0.30	0.00	0.00	0.00	-0.25
Altman Z-Score	-1.09	0.88	-1.84	-5.77	-6.60	-7.91	-7.71	-6.08	-4.45	-10.38	-11.35
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.80	4.23	4.64	5.26	5.00	1.79	1.89	2.41	2.88	2.69	1.05
Quick Ratio	3.27	3.64	4.18	4.64	4.09	1.65	1.66	2.14	2.50	2.48	0.91
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-40	-38	-29	-15	-7.87	-4.22	-14	-6.23	-6.40	-22	-28
Operating Cash Flow to CapEx	-4,102.21%	0.00%	-18,209.65%	-11,225.30%	0.00%	-14,617.48%	-14,240.40%	-6,119.71%	-12,881.25%	-6,313.52%	-11,498.60%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.78	-2.87	-2.91	-17.16	-4.82
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.80	-5.87	-7.50	-12.22	-2.82
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.81	-5.96	-7.56	-12.41	-2.84
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.02	0.06	0.06	0.07	0.07	0.04	0.04	0.02	0.02	0.01	0.01
Accounts Receivable Turnover	0.00	0.00	9.14	6.45	16.76	5.01	6.31	2.49	19.38	2.48	3.16
Inventory Turnover	0.71	0.97	1.02	1.22	1.07	2.44	2.17	1.15	1.00	12.21	5.66
Fixed Asset Turnover	0.31	0.92	0.79	1.00	0.95	0.58	0.56	0.35	0.37	0.21	0.13
Accounts Payable Turnover	1.00	1.28	1.21	2.61	2.28	4.43	3.97	3.96	4.49	13.44	6.40
Days Sales Outstanding (DSO)	0.00	0.00	39.95	56.57	21.77	72.87	57.88	146.48	18.84	147.00	115.56
Days Inventory Outstanding (DIO)	515.76	377.57	356.88	298.83	342.59	149.49	168.26	316.08	363.24	29.90	64.49
Days Payable Outstanding (DPO)	365.67	285.21	301.48	139.79	159.88	82.48	91.99	92.15	81.36	27.16	57.05
Cash Conversion Cycle (CCC)	150.09	92.37	95.35	215.62	204.49	139.88	134.15	370.41	300.72	149.74	123.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	26	31	26	22	22	23	30	18	20	-0.54	41
Invested Capital Turnover	0.15	0.38	0.36	0.39	0.34	0.17	0.16	0.13	0.12	0.39	0.04
Increase / (Decrease) in Invested Capital	23	24	10	-1.90	-3.12	-8.72	3.86	-4.03	-2.51	-7.35	12
Enterprise Value (EV)	338	441	291	162	199	261	280	225	302	197	198
Market Capitalization	411	505	359	219	243	287	304	284	373	253	197
Book Value per Share	$0.52	$0.50	$0.48	$0.38	$0.31	$0.22	$0.22	$0.31	$0.30	$0.18	$0.13
Tangible Book Value per Share	$0.43	$0.41	$0.40	$0.32	$0.25	$0.17	$0.17	$0.27	$0.27	$0.18	$0.07
Total Capital	107	109	99	79	66	98	99	109	120	75	88
Total Debt	8.55	13	5.14	0.00	0.00	49	46	32	29	19	48
Total Long-Term Debt	0.00	13	0.00	0.00	0.00	25	15	0.03	0.03	0.03	16
Net Debt	-73	-64	-68	-57	-43	-26	-24	-59	-71	-56	1.82
Capital Expenditures (CapEx)	0.50	-0.05	0.11	0.17	-0.01	0.10	0.10	0.21	0.13	0.24	0.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.39	-11	-3.45	-2.83	-1.04	-14	-1.86	1.14	4.20	-5.16	-12
Debt-free Net Working Capital (DFNWC)	76	66	70	54	42	61	67	93	104	70	35
Net Working Capital (NWC)	67	66	65	54	42	37	37	60	75	51	2.46
Net Nonoperating Expense (NNE)	6.74	5.81	7.62	6.69	4.52	18	19	3.97	5.31	8.77	8.85
Net Nonoperating Obligations (NNO)	-73	-64	-68	-57	-43	-26	-24	-59	-71	-56	1.82
Total Depreciation and Amortization (D&A)	2.14	1.58	1.80	1.77	1.68	1.67	6.97	3.71	3.59	2.73	5.11
Debt-free, Cash-free Net Working Capital to Revenue	-249.91%	-148.64%	-46.47%	-31.45%	-12.72%	-302.30%	-42.99%	44.20%	159.54%	-426.82%	-772.46%
Debt-free Net Working Capital to Revenue	3,517.75%	912.67%	937.51%	598.88%	520.88%	1,294.02%	1,553.55%	3,584.56%	3,948.39%	5,809.19%	2,226.58%
Net Working Capital to Revenue	3,121.46%	912.67%	868.41%	598.88%	520.88%	777.66%	858.07%	2,335.68%	2,849.22%	4,218.79%	158.30%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.12)	($0.10)	($0.13)	($0.11)	($0.07)	$0.00	($0.12)	($0.06)	($0.05)	$0.00	($0.08)
Adjusted Weighted Average Basic Shares Outstanding	188.31M	182.80M	196.75M	208.67M	213.00M	209.51M	235.93M	254.66M	295.46M	273.14M	308.65M
Adjusted Diluted Earnings per Share	($0.12)	($0.10)	($0.13)	($0.11)	($0.07)	$0.00	($0.12)	($0.06)	($0.05)	($0.12)	($0.08)
Adjusted Weighted Average Diluted Shares Outstanding	188.31M	182.80M	196.75M	208.67M	213.00M	209.51M	235.93M	254.66M	295.46M	273.14M	308.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	189.99M	195.27M	206.66M	212.75M	219.02M	245.00M	249.26M	300.96M	305.40M	306.58M	331.62M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-14	-19	-15	-11	-13	-9.83	-10	-8.90	-29	-17
Normalized NOPAT Margin	-1,598.23%	-272.93%	-1,955.75%	-795.94%	-5,794.53%	-783.66%	-1,668.59%	-6,618.84%	-3,694.90%	-12,998.97%	-1,766.32%
Pre Tax Income Margin	-2,221.39%	-377.61%	-2,727.93%	-1,255.05%	-8,110.00%	-1,883.27%	-4,873.68%	-9,120.00%	-5,827.80%	-17,120.18%	-2,685.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.64	-5.51	-5.39	-29.28	-3.30
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.56	-4.73	-4.05	-22.99	-2.82
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.64	-5.61	-5.45	-29.47	-3.33
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-0.57	-4.82	-4.11	-23.18	-2.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

MicroVision’s latest quarter shows a company still burning cash, but with a materially improved liquidity position versus a year ago. In Q1 2026, revenue came in at just $935,000, while net loss was $25.3 million. That’s not a profitable profile yet, but the balance sheet and cash flow trends suggest the company has had access to capital and has been actively managing its cash runway.

On the positive side, cash improved sharply from the end of 2025. MicroVision ended Q1 2026 with $46.1 million in cash and equivalents, up from $72.8 million in Q3 2025 but down from the much weaker Q1 2025 level after the company raised capital and used some of it to fund operations and acquisitions. Total current assets were $54.2 million, while total equity was $39.5 million.

Some key positives from the recent trend:

Cash and equivalents rose to $46.1 million in Q1 2026, giving the company more near-term flexibility.
Net cash from investing activities was positive at $9.2 million in Q1 2026, helped by sales and maturities of investments.
The company generated $4.3 million in other income during Q1 2026, which helped partially offset operating losses.
Gross profit was positive in Q1 2026 at $363,000, showing revenue still carries some margin before overhead.
Total liabilities fell from $60.1 million in Q3 2025 to $70.7 million in Q1 2026 after being even higher in prior periods, while long-term debt remained zero; that reduces traditional debt risk.

Neutral observations: the company is still in a development-stage style spending pattern. In Q1 2026, R&D was $14.4 million and SG&A was $9.5 million, both far larger than revenue. That’s typical for a company trying to commercialize technology, but it means profitability depends on a meaningful ramp in sales. Shares outstanding also remain elevated, reflecting repeated equity issuance over time.

The biggest concerns remain the same: revenue is tiny relative to expenses, operating losses are large, and cash generation from operations is still deeply negative. In Q1 2026, operating cash flow was negative $16.4 million and net loss widened to $25.3 million.

Key negatives from the trend:

Revenue was only $935,000 in Q1 2026, far below what would be needed to cover the cost structure.
Operating loss was $23.5 million in Q1 2026, showing expenses are still vastly outpacing sales.
Net loss of $25.3 million in Q1 2026 adds to a long history of cumulative losses.
Operating cash flow was negative $16.4 million in Q1 2026, indicating ongoing cash burn from core operations.
Short-term debt was $32.1 million at the end of Q1 2026, which is sizable relative to quarterly revenue and current cash generation.
The company has relied on equity issuance repeatedly over the last several quarters to support liquidity, which can dilute shareholders.

Longer-term trend: compared with 2023 and 2024, MicroVision’s revenue base has become much smaller, while losses remain persistent. The company has also seen major swings in cash and investments, which suggests financing activity has been central to staying liquid. For investors, this makes the stock highly dependent on execution: a meaningful commercial ramp would be needed to justify the cost structure and reduce dilution risk.

Bottom line: MicroVision appears to have enough liquidity for now, but the business is still far from self-funding. The main question for investors is whether the company can convert its technology into sustained revenue growth before cash burn and dilution become more burdensome.

07/14/26 07:44 AM ETAI Generated. May Contain Errors.

Microvision Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Microvision's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Microvision's net income appears to be on an upward trend, with a most recent value of -$94.98 million in 2025, rising from -$14.54 million in 2015. The previous period was -$96.92 million in 2024. View Microvision's forecast to see where analysts expect Microvision to go next.

Microvision's total operating income in 2025 was -$82.83 million, based on the following breakdown:

Total Gross Profit: -$17.34 million
Total Operating Expenses: $65.49 million

Over the last 10 years, Microvision's total revenue changed from $9.19 million in 2015 to $1.21 million in 2025, a change of -86.9%.

Microvision's total liabilities were at $47.57 million at the end of 2025, a 34.3% decrease from 2024, and a 235.1% increase since 2015.

In the past 10 years, Microvision's cash and equivalents has ranged from $5.84 million in 2019 to $82.65 million in 2021, and is currently $32.36 million as of their latest financial filing in 2025.

Over the last 10 years, Microvision's book value per share changed from 0.00 in 2015 to 0.18 in 2025, a change of -5,784.4%.

Related Companies

Financial statements for NASDAQ:MVIS last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Microvision (MVIS) Financials

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Microvision (MVIS) Financials

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