- MicroVision (NASDAQ:MVIS) is selling off after reporting (thanks to orders from its Fortune 100 client) revenue rose over 4x Q/Q and 6x Y/Y in Q2 to $4M. Component sales totaled $2.2M, royalties $300K, and services contract revenue $1.5M.
- The backlog fell by $3.7M Q/Q to $15M, after rising over 3x in Q1 on account of the aforementioned orders. MicroVision expects to fulfill the backlog in 2H15 and 2016. The company says it "continued to engage in cooperative business development activities with its Fortune Global 100 customer," and "continued to make solid progress developing product opportunities for pico projection and other applications."
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Financials: Gross margin was 29.4%. Not counting a year-ago gain on inventory sales, GAAP operating expenses rose by over $300K Y/Y to $3.96M - R&D totaled $2.01M, and SG&A $1.95M. MicroVision ended Q2 with $15.1M in cash, and no debt.
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Q2 results, PR