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Microvision, Inc. (MVIS)

  • Tue, May 5, 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
  • Thu, Apr. 30, 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
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  • Thu, Apr. 30, 9:19 AM
  • Thu, Apr. 30, 7:51 AM
    • Microvision (NASDAQ:MVIS): Q1 EPS of -$0.09 may not be comparable to consensus of $0.02.
    • Revenue of $0.9M (-26.2% Y/Y) misses by $5M.
    • Press Release
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  • Wed, Apr. 22, 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
  • Wed, Apr. 8, 11:08 AM
    • MicroVision (MVIS -1.7%) has received $2.5M in proceeds from the exercising of previously-issued warrants to buy 1.175M shares (implies an exercise price of ~$2.13).
    • The pico projector module developer had $8.3M in cash at the end of 2014; an $8M license fee has since been received.
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  • Fri, Mar. 27, 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.
  • Fri, Mar. 27, 9:13 AM
  • Wed, Mar. 18, 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."
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  • Mon, Mar. 16, 12:45 PM
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  • Mon, Mar. 16, 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.
  • Mon, Mar. 16, 9:14 AM
  • Tue, Mar. 10, 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
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  • Tue, Mar. 10, 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.
    • Press Release
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  • Mon, Mar. 9, 5:30 PM
  • Thu, Mar. 5, 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.
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Company Description
Microvision Inc is engaged in developing its proprietary PicoP display technology. Its technology can be used to create high-resolution miniature laser display and imaging engines.