Increased Engagement with Automotive OEMs
MicroVision reported an increase in engagement with automotive OEMs, with multiple reformulated RFQs and a new architecture that is cost-competitive for larger volume adoption.
Successful Integration with NVIDIA DRIVE AGX
MicroVision achieved full integration with NVIDIA's DRIVE AGX platform, becoming a fully qualified solution provider, which is a significant step forward.
Improved Financial Position
The company finished the quarter with $91.4 million in cash and cash equivalents and has extended its runway into 2027 following recent financings.
Cost Reduction
Year-over-year R&D and SG&A expenses were reduced by 44%, with a focus on maintaining the current spending level through 2025.
Strategic Partnerships and Market Expansion
The company is targeting partnerships in the defense sector, with plans to publicly demonstrate an autonomous swarming drone system in the first half of next year.