Microvision, Inc. (MVIS) - NASDAQ
  • Tue, May 24, 3:34 PM
    | Tue, May 24, 3:34 PM
  • 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.
    | Mon, Mar. 21, 4:19 PM | 5 Comments
  • 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, 9:25 AM
  • 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, 11:57 AM
  • 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, 2:44 PM | 2 Comments
  • May 5, 2015, 10:46 AM
    • MicroVision (NASDAQ:MVIS) has entered into a $6M at-the-market stock offering agreement with boutique i-bank Meyers Associates. The agreement gives MicroVision the right to "offer and sell shares of its common stock having an aggregate value of up to $6 million" through Meyers subsidiary BP Capital.
    • The deal comes a month after MicroVision received $2.5M through a warrant exercise. The pico-projector module developer had $16.7M in cash at the end of Q1, and no debt.
    • Last week: MicroVision falls post-earnings; backlog at $18.7M
    | May 5, 2015, 10:46 AM | 3 Comments
  • Apr. 30, 2015, 2:18 PM
    • Following today's post-earnings selloff, MicroVision (NASDAQ:MVIS) is down 23% from a March high of $4.24, set amid euphoria over its $14.5M component order announcement. Shares are still up 86% YTD.
    • Though the company received an $8M license fee during Q1 from its Fortune Global 100 client, revenue will be recognized over the lifetime of the license deal. Thus reported Q1 revenue only totaled $0.9M, mostly from component sales.
    • Backlog, on the other hand, jumped to $18.7M from $5.1M at the end of Q4 thanks to the aforementioned component orders. The license fee and $2.3M in stock/warrant proceeds led MicroVision's cash balance to rise to $16.7M from $8.3M. R&D spend fell by $600K Y/Y to $1.9M, while SG&A spend was nearly flat at $1.9M.
    • Q1 results, PR
    | Apr. 30, 2015, 2:18 PM
  • Apr. 30, 2015, 9:19 AM
    | Apr. 30, 2015, 9:19 AM | 7 Comments
  • Apr. 22, 2015, 3:18 PM
    • Today's notable tech gainers include mobile game developer Glu Mobile (GLUU +8.2%), Chinese mobile app developer Cheetah Mobile (CMCM +8.1%), pico projector module developer MicroVision (MVIS +7.6%), Chinese analog/mixed-signal chipmaker Vimicro (VIMC +11.5%), IT services firm WidePoint (WYY +6.2%), mobile ad network owner Millennial Media (MM +5.6%), data discovery software vendor Datawatch (DWCH +15.7%), and RF backhaul hardware vendor Ceragon (CRNT +11.3%). The Nasdaq is up 0.4%.
    • Notable decliners include Chinese solar module vendor/project developer Yingli (YGE -5.1%) and U.S. solar installer Solar Power, Inc. (OTCQB:SOPW -5.1%). Most solar peers are higher.
    • Cheetah Mobile and Vimicro have joined several other Chinese tech firms in surging following an overnight rally in Shanghai. Glu's gains come ahead of the company's April 29 Q1 report. Datawatch's gains come after the company posted nearly in-line FQ2 results and stated has laid off almost 15% of its workforce; shares had tumbled in January thanks to an FQ1 warning.
    • Previously covered: SolarCity, ASML, Cree, Broadcom, Angie's List, Yelp, Adtran, Novatel, SuperCom, Tremor Video, Dolby, Procera, Castlight, Zhone, CalAmp
    | Apr. 22, 2015, 3:18 PM | 13 Comments
  • Mar. 27, 2015, 9:16 AM
    • MicroVision (NASDAQ:MVIS) has received the $8M up-front license license fee the company announced on March 5 it would be receiving (to go with royalties) as part of its licensing deal with a Fortune Global 100 firm. The payment bolsters a cash balance that stood at $8.3M at the end of 2014.
    • MicroVision also notes it has received over $18M in component orders from the Fortune 100 firm. $14.5M worth of orders were announced on March 16.
    • Shares are up to $3.70 premarket. Though having retreated from a March 18 high of $4.23, they're still up 76% since the licensing deal was announced.
    | Mar. 27, 2015, 9:16 AM | 2 Comments
  • Mar. 27, 2015, 9:13 AM
    | Mar. 27, 2015, 9:13 AM | 5 Comments
  • Mar. 18, 2015, 12:15 PM
    • MicroVision (MVIS +14.4%) has continued soaring since announcing on Monday its Fortune Global 100 client has placed $14.5M worth of PicoP projector module component orders in the wake of its recent licensing deal.
    • In an article now out of embargo, SA Pro author Eskela compared the licensing deal to Universal Display's 2011 OLED agreement with Samsung. "That agreement was game-changing, and validated AMOLED screen technology in much the same way that Microvision's technology is being validated now. However, the market dynamics of the two situations are entirely different ... whereas the fundamental change for OLED was well-anticipated, I don't think that's been the case for MVIS."
    • He cautions MicroVision now needs to ramp PicoP component production, but is also optimistic about the company's efforts to improve brightness/color replication, and notes MicroVision also has vehicle OEM deals and has stated a second Fortune 500 client "plans to introduce an innovative smartphone in the second half of 2015."
    | Mar. 18, 2015, 12:15 PM
  • Mar. 16, 2015, 12:45 PM
    | Mar. 16, 2015, 12:45 PM
  • 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, 9:16 AM | 2 Comments
  • Mar. 16, 2015, 9:14 AM
    | Mar. 16, 2015, 9:14 AM | 5 Comments
  • 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, 1:19 PM
Company Description
MicroVision is the creator of PicoP display technology, an ultra-miniature laser projection solution for mobile consumer electronics, automotive head-up displays and other applications. MicroVision's patented display technology helps OEMs break down display boundaries and offer enhanced... More
Sector: Technology
Industry: Diversified Electronics
Country: United States