Microvision Deja Vu
Esekla • 11 Comments
Esekla • 11 Comments
Tue, Sep. 20, 3:00 PM
Thu, Jul. 28, 8:01 AM
Wed, Jul. 27, 5:30 PM
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Tue, May 24, 3:34 PM
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Tue, Mar. 22, 9:54 AM
- After announcing yesterday afternoon it plans a stock offering, MicroVision (MVIS +1.7%) has announced this morning it's selling 3.5M shares at $1.70 apiece ($0.06 below Monday's close). Underwriter Northland Capital has a529K-share overallotment option.
- Gross proceeds are expected to total $6M, and net proceeds $5.4M. Shares are higher after falling in after-hours trading yesterday ... and also falling in regular trading ahead of yesterday's announcement.
Mon, Mar. 21, 4:19 PM
- MicroVision (NASDAQ:MVIS) plans a stock offering of yet-undetermined size and pricing, and expects the underwriter (Northland Capital) to be given an overallotment option equal to up to 15% of the offering's shares. Net proceeds will be used for "general corporate purposes."
- MicroVision is down 6.3% after hours to $1.65. The projector tech developer had $7.9M in cash at the end of 2015 (down $3.3M Q/Q).
- Did someone know about the offering in advance? Ahead of the announcement, shares fell 7.9% in regular trading on volume (948K shares) that was over 4x a 3-month daily average of 227K.
Tue, Mar. 8, 9:25 AM
- MicroVision (NASDAQ:MVIS) is up 1.8% premarket to $2.90 in spite of missing Q4 estimates and reporting its backlog fell by $2.5M Q/Q to $11M. The projector display engine provider's cash balance fell by $3.3M Q/Q to $7.9M.
- Product sales totaled $1.5M vs. $2.1M in Q3 and $334K a year ago. Royalty revenue rose to $388K from $309K in Q3 and just $14K a year ago. Contract revenue amounted to just $7K.
- Gross margin fell to 20.5% from 24.4% in Q3 and 25.9% a year ago. GAAP operating expenses rose by $1.2M Y/Y to $4.7M, with R&D spend totaling $2.5M and SG&A $2.1M.
- MicroVision states "a number of OEMs" are developing products featuring the display module produced by its Fortune Global 100 client, with several of the products due to launch in 2016.
- CEO Alexander Tokman: "The company ... has programs in place that are expected to improve gross margin through improved efficiency and reduced cost in the production of its key components. Looking to new markets for growth beyond 2016, MicroVision is investing in internal development of its PicoP scanning technology for new 'beyond projection' applications. The company believes emerging products for augmented reality and 3D sensing and imaging can benefit from the unique ability of its technology to integrate projection and sensing capabilities in a single, tiny module."
- MicroVision's Q4 results, earnings release
Tue, Mar. 8, 8:05 AM
- Microvision (NASDAQ:MVIS): Q4 EPS of -$0.09 misses by $0.02.
- Revenue of $1.85M (+168.1% Y/Y) misses by $1.82M.
Mon, Mar. 7, 5:30 PM
Nov. 5, 2015, 11:57 AM
- MicroVision's (NASDAQ:MVIS) product sales (projector components) totaled $2.1M in Q3, down $100K Q/Q and up from just $16K a year ago. Royalty revenue fell by $15K Q/Q to $309K. and contract revenue was just $11K after totaling $1.5M in Q2.
- Gross margin fell to 24.4% from Q2's 29.4%. R&D spend fell by $200K Y/Y to $2.2M; SG&A spend rose by $300K to $1.9M.
- Backlog fell by $1.5M Q/Q to $13.5M; MicroVision expects it will be fulfilled in Q4 and 2016. The cash balance fell by $3.9M Q/Q to $11.2M.
- MicroVision notes its Fortune 100 client is "manufacturing display engines incorporating MicroVisions PicoP display technology, started selling a companion pico projector in the US, Latin America and most of Asia." Sharp, meanwhile, has launched a robot smartphone (seeing is believing) that uses a MicroVision display engine.
- Q3 results, PR
Nov. 5, 2015, 8:03 AM
- Microvision (NASDAQ:MVIS): Q3 EPS of -$0.07 in-line.
- Revenue of $2.4M (+147.4% Y/Y) misses by $1.5M.
Nov. 4, 2015, 5:30 PM
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Jul. 29, 2015, 2:44 PM
- 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."
- 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.
- Q2 results, PR
Jul. 29, 2015, 7:49 AM
- Microvision (NASDAQ:MVIS): Q2 EPS of -$0.06 beats by $0.01.
- Revenue of $4.04M (+562.3% Y/Y) beats by $2.14M.