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Mar. 16, 2015, 9:16 AM
- MicroVision's (NASDAQ:MVIS) Fortune Global 100 client has placed $14.5M worth of display module component orders that are expected to be shipped in 2H15 and 2016.
- The announcement arrives less than two weeks after MicroVision licensed its PicoP pico projector tech to the client. $3.8M in component orders were placed last year - they're currently being fulfilled - along with $1.9M in services orders.
- Shares have soared to $3.18 premarket, making new 52-week highs in the process.
Mar. 16, 2015, 9:14 AM
Mar. 10, 2015, 1:19 PM
- Following a 2014 in which revenue fell 40% to $3.49M, MicroVision (NASDAQ:MVIS) says it's aiming for "significant" Y/Y growth in 2015, aided by component sales and the licensing of its PicoP projector tech. As it is, the 2-analyst 2015 revenue consensus is at $7.85M.
- The company also hopes to follow up on its deal with a Fortune Global 100 client by developing "new OEM/channel opportunities for display engine manufacturing partners that are incorporating PicoP display technology."
- Thanks to orders from the Fortune 100 client, backlog rose to $5.1M at the end of Q4 from $2.1M at the end of Q3. Operating expenses fell 30% Y/Y to $3.53M, helping EPS meet estimates in spite of a revenue miss - R&D spend totaled $1.92M, and SG&A $1.62M.
- MicroVision ended Q4 with $8.3M in cash, down from $10.9M at the end of Q3. A license fee payment from the Fortune 100 client is expected later this month.
- Q4 results, PR
Mar. 10, 2015, 8:03 AM
- Microvision (NASDAQ:MVIS): Q4 EPS of -$0.08 in-line.
- Revenue of $0.69M (-43.4% Y/Y) misses by $1.01M.
Mar. 9, 2015, 5:30 PM
Mar. 5, 2015, 10:29 AM
- MicroVision (NASDAQ:MVIS) has "signed a multi-year license agreement with its Fortune Global 100 partner" for its MEMS-based PicoP pico projector tech.
- MicroVision will get an $8M up-front license fee and ongoing royalties on display module sales, and will also sell components to the Fortune 100 company. Other terms are confidential.
- A partnership with the Fortune 100 company was originally struck in April 2013. MicroVision received $1.9M component orders from the company in both September and December, as well as a $1.5M services contract in October.
Mar. 5, 2015, 9:15 AM
Dec. 8, 2014, 10:59 AM
- The Fortune Global 100 client MicroVision (MVIS +3.9%) signed a development agreement with in April 2013 has provided a $1.9M follow-on order for components it plans to use in a display module that will go into "pico projectors and other devices with projector functionality."
- The client placed an original $1.9M component order in September. It later signed a $1.5M services contract with MicroVision.
- Shipments related to the original component order are ongoing. MicroVision expects to fulfill the new order in 1H15.
Nov. 5, 2014, 8:34 AM
- MicroVision (NASDAQ:MVIS) had a backlog of $2.1M at the end of Q3, up from $1.1M at the end of Q2. The figure doesn't include the $1.5M support services deal announced in October.
- In addition to once more highlighting its collaborations with UPS and a Fortune Global 100 electronics company, MicroVision says it delivered a prototype heads-up display system in Q3 to a vehicle OEM, and that the OEM is "one of two active MicroVision customer opportunities in the automotive segment."
- GAAP opex fell 20% Y/Y in Q3 to $4M; both SG&A and R&D spend declined. Cash used in operations totaled $3.2M; MicroVision ended Q3 with $10.9M in cash/equivalents.
- Q3 results, PR
Nov. 5, 2014, 8:05 AM
- Microvision (NASDAQ:MVIS): Q3 EPS of -$0.08 beats by $0.01.
- Revenue of $0.97M (+1.0% Y/Y) misses by $0.08M.
Nov. 4, 2014, 5:30 PM
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Oct. 27, 2014, 9:47 AM
- The Fortune 100 client MicroVision (MVIS +1.7%) signed a development agreement with in April 2013 has provided the company with a $1.5M contract for "display module support services."
- MicroVision adds development work is finished, and that it will now work with the customer on "commercialization activities that are expected to span several phases including production readiness, initial production and market launch for the display module."
- On April 3, 2013, MicroVision announced a development agreement with "a prominent electronics company" related to the use of its PicoP display tech in a display engine that could "enable a variety of new products."
Oct. 10, 2014, 7:08 PM
- Built with the help of actor Ashton Kutcher (his official title at the company is "product engineer") Lenovo's (OTCPK:LNVGY) Tablet 2 Pro sports a pico projector said to deliver "an instant 50-inch theater experience," and run for up to 3 hours on a charge.
- The 13.3" Android tablet also contains an Intel Atom CPU, 2K (2560x1440) display, stereo speakers, and a subwoofer, and (per Lenovo) can run for up to 15 hours in non-projector mode. Lenovo has aggressively priced the 32GB model at $499 (on par with a 16GB 9.7" iPad Air).
- Lenovo has also launched: 1) The Yoga 3 Pro, a 13" Windows convertible that's 17% thinner and 15% lighter than its predecessor, which The Verge calls "perhaps the best convertible notebook you can buy." The device uses an Intel Core M CPU, has a 3200x1800 display, and starts at a steep $1,350. 2) The Yoga Tablet 2, 8" and 10" Android and Windows tablets costing $249-$399. 3) The ThinkPad Yoga 14, a $1,200 14" convertible aimed at business users.
- MicroVision (NASDAQ:MVIS) is likely happy to see a pico projector get designed into a high-profile tablet.
Oct. 7, 2014, 9:29 AM
- MicroVision (NASDAQ:MVIS) says it has delivered custom version of its PicoP display modules to "a worldwide leader in logistics, transportation, package delivery and freight forwarding."
- That sounds a lot like UPS - MicroVision announced a PicoP supply deal with UPS in March. The delivery/logistics giant plans to use the display modules to improve package sorting/routing.
- MVIS +1.6% premarket.
Sep. 30, 2014, 12:17 PM
- Microvision (MVIS +11.1%) has spiked higher over the last 20 minutes of trading. The apparent trigger: A Patently Apple column noting Apple has received a patent for a holographic display that could be used in future Macs or iDevices.
- The patent describes a solution that can "provide a three-dimensional viewing and interacting experience, without the requirement of a reflective medium or wearing 3D glasses."
- Of note: Apple obtains patents for numerous technology concepts, many of which never get commercialized.
Sep. 19, 2014, 10:01 AM
- MicroVision (NASDAQ:MVIS) has obtained nearly $1.9M in new component orders from the Global 100 client it signed a development agreement with in April 2013.
- The client plans to "incorporate the components in high definition display modules it has developed with support from MicroVision." Component shipments, meant to support early production activities and "exercise the supply chain," are expected to start in Q4, and continue in Q1 2015.
- MicroVision has previously announced deals with Sony and UPS, and a smartphone display partnership with an unnamed "major global consumer electronics brand."
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