MicroVision makes new 52-week lows after releasing Q3 results

|By:, SA News Editor

MicroVision's (MVIS -9.3%) Q3 sales fell 48% Q/Q and 63% Y/Y to a mere $964K. Revenue "primarily" stemmed from an April deal with a "prominent electronics company." The miniature laser projector tech developer says it's "engaged in commercial negotiations for licensing and component supply agreements" with said company.

Product revenue totaled $176K, contract revenue $128K, and development revenue $660K. MicroVision's cash balance rose by $2.3M Q/Q to $8.3M. Backlog fell by $600K to $3.2M.

Opex was $5M, up from Q2's $4.4M but down from $5.5M a year ago.

Q3 results, PR