Microvision (MVIS) AI Stock Analysis

• Market Cap: $179.90M
• Dividend Yield: N/A
• Average Volume (3M): 6.06M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.27
• Revenue Growth: -67.66%
• EPS Growth: 13.39%
• Country: US
• Employees: 185
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.12
• Shares Outstanding: 306,579,860
• 10 Day Avg. Volume: 6,934,493
• 30 Day Avg. Volume: 6,059,553
• PEG Ratio: 0.10
• Price to Book (P/B): 4.07
• Price to Sales (P/S): 187.24
• P/FCF Ratio: -3.81
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 152.57
• Enterprise Value/Gross Profit: -10.63
• Enterprise Value/Ebitda: -2.90
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): -0.16
• Revenue Forecast (FY): $14.55M

• Rating: 45 Neutral
• Price Target: $0.57 ▼(-39.89% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is held down primarily by weak financial performance (shrinking revenue, sustained losses, and ongoing cash burn). Technicals also remain bearish with the stock below key moving averages, despite oversold readings. Positives from the earnings call (2026 revenue guidance, acquisition-driven traction, and cost reductions) and recent liquidity actions provide some offset, but execution and listing/financing risks remain significant.

Positive Factors

Expanded Product Portfolio

Acquiring Luminar and Scantinel created a broader sensor and software stack across short-, mid- and long-range lidar. This materially expands addressable markets (automotive, industrial, security/defense), enables cross-selling, and reduces single-product dependence, strengthening long-term commercial optionality.

Customer Base & Commercial Traction

Integration delivered ~30 new customer relationships and reactivated programs, demonstrating pipeline conversion potential beyond legacy sales. Broadening customer exposure reduces concentration risk and accelerates opportunities to convert development engagements into recurring product revenue over the medium term.

Reduced Cash OpEx

A 24% decline in cash-based operating expenses shows tangible cost discipline and structural expense reductions. Lower recurring cash burn helps extend runway, makes financing needs smaller, and gives management more time to execute product ramps and convert acquisition-driven contracts into sustainable revenue.

Negative Factors

Weak Revenue Base

Revenue has collapsed to a very low base, indicating limited current commercial traction and long lead times for material automotive wins. With sales running at a few million annually, the company cannot self-fund growth, making successful conversion of acquired contracts critical to achieving sustainable scale over multiple years.

Persistent Cash Burn

Consistent negative operating and free cash flow, with ~$59M used in operations in 2025, creates structural reliance on external financing. Continued high cash burn relative to negligible revenues raises dilution and liquidity risk and constrains investment in product commercialization if fundraising conditions worsen.

Material Impairments & Restructuring

Large noncash write-downs and further anticipated impairments reflect prior overhangs in inventory and software assets and signal execution challenges. These charges erode equity, may limit access to capital, and indicate integration and product lifecycle risks that could delay reaching durable profitability and margins.

Microvision Business Overview & Revenue Model

Company Description

MicroVision, Inc. develops lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, electronics, algorithms, and software. The company also develops micro-display concepts and designs for head-mounted augmented reality (AR) headsets, as well as 1440i MEMS module that can support AR headsets; Interactive Display modules used in smart speakers and other devices; and Consumer Lidar used in smart home systems. In addition, it provides PicoP, a scanning technology that creates full color, high-contrast, and uniform image over the entire field-of-view from a small and thin module. Further, the company develops 1st generation long range lidar. The company sells its products primarily to original equipment manufacturers and original design manufacturers. MicroVision, Inc. was founded in 1993 and is headquartered in Redmond, Washington.

How the Company Makes Money

MicroVision makes money primarily by selling lidar-related products and services and, where applicable, licensing its technology. Key revenue streams include: (1) Product revenue from sales of lidar sensors and associated components/subsystems to customers (e.g., automotive OEMs, Tier 1 suppliers, or industrial customers), typically tied to development programs, sample units, and potential future series production volumes if/when awarded and launched. (2) Engineering and development services revenue from customer-funded work such as integration support, customization, validation/testing, and other non-recurring engineering (NRE) services performed to meet customer requirements during evaluation and development phases. (3) Intellectual property revenue, when applicable, from licensing arrangements or royalties related to MicroVision’s patented technologies (the specific counterparties, contract terms, and materiality are null if not publicly detailed for the period in question). The company’s earnings potential is heavily influenced by the timing and scale of automotive design wins, the progression of OEM/Tier 1 RFQs into nominations and production, and the conversion of pilot/development engagements into higher-volume supply agreements; specific partnerships and contract-level economics are null unless explicitly disclosed in the company’s public filings.

Microvision Financial Statement Overview

Summary

Financials remain weak with very small and shrinking revenue, deeply negative margins, large ongoing net losses, and continued negative operating/free cash flow. Leverage improved versus 2024, but persistent losses and cash burn continue to erode flexibility and raise funding risk.

Income Statement

Revenue remains very small and has been highly volatile, with a sharp contraction in 2025 (annual revenue down ~54%). Profitability is weak: gross margin flipped from positive in 2023 to deeply negative in 2025, and net losses have stayed large across the period (roughly $83M–$97M annual losses since 2023). Operating performance is consistently loss-making (negative EBITDA/EBIT margins), indicating the business has not yet demonstrated operating leverage.

Balance Sheet

Leverage is moderate on the latest annual report (debt-to-equity ~0.66 in 2025), improving from 2024 (~1.06), which is a constructive shift. However, equity has trended down meaningfully since 2021, and returns on equity remain deeply negative (reflecting ongoing losses). Overall, the balance sheet is not highly levered today, but persistent losses are eroding the capital base and reduce financial flexibility over time.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow consistently negative every year shown. Free cash flow outflow improved in 2025 versus 2024 (less negative), but the business still burns substantial cash annually. Free cash flow roughly tracks net losses (free cash flow to net income near ~1x, driven by both being negative), suggesting limited earnings quality improvement and continued reliance on external funding or cash reserves to sustain operations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.21M	4.70M	7.26M	664.00K	2.50M
Gross Profit	-17.34M	-2.83M	4.49M	564.00K	2.50M
EBITDA	-63.56M	-70.98M	-83.07M	-53.15M	-42.92M
Net Income	-94.98M	-96.92M	-82.84M	-53.09M	-43.20M
Balance Sheet
Total Assets	103.12M	121.16M	129.63M	115.00M	130.22M
Cash, Cash Equivalents and Short-Term Investments	74.83M	74.70M	73.78M	82.71M	115.37M
Total Debt	36.77M	51.64M	15.04M	15.70M	6.27M
Total Liabilities	47.57M	72.39M	33.83M	25.25M	17.47M
Stockholders Equity	55.55M	48.77M	95.80M	89.74M	112.75M
Cash Flow
Free Cash Flow	-59.40M	-68.91M	-69.03M	-42.38M	-31.90M
Operating Cash Flow	-58.72M	-68.54M	-67.09M	-38.02M	-29.40M
Investing Cash Flow	-24.65M	2.67M	21.82M	-38.07M	-35.32M
Financing Cash Flow	60.87M	72.89M	72.44M	14.31M	131.16M

Microvision Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MVIS, the sentiment is Negative. The current price of 0.95 is above the 20-day moving average (MA) of 0.70, above the 50-day MA of 0.79, and below the 200-day MA of 1.05, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 38.88 is Neutral, neither overbought nor oversold. The STOCH value of 13.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MVIS.

Microvision Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RELL	64 Neutral	$160.90M	-268.55	0.51%	2.25%	6.17%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
VPG	55 Neutral	$547.32M	96.46	2.37%	―	-7.46%	-39.98%
LPTH	53 Neutral	$634.79M	-13.49	-70.17%	―	36.85%	-77.93%
KOPN	52 Neutral	$379.68M	23.27	-30.23%	―	3.02%	90.87%
MEI	47 Neutral	$178.92M	-4.46	-9.42%	5.93%	-9.51%	29.57%
MVIS	45 Neutral	$179.90M	-1.68	-137.37%	―	-67.66%	13.39%

Microvision Corporate Events

MicroVision Leadership Boosts Stake, Signaling Confidence in Strategy

On March 16, 2026, MicroVision announced that all of its executive officers and U.S.-based board members committed to buy company common stock on market terms, signaling internal confidence in its strategy to reshape the lidar industry. The move follows subscription agreements signed March 15, 2026, and aligns leadership incentives with shareholders as the company pursues commercialization of its perception solutions.

Under the agreements, directors and executives will purchase an aggregate of about $310,000 of MicroVision stock at $0.5322 per share, matching the prior Friday’s Nasdaq closing price. Structured as direct purchases from the company for regulatory reasons, the restricted shares must be held while buyers remain affiliates, modestly bolstering MicroVision’s capital while underscoring management’s long-term commitment to shareholder value and the firm’s transformative business plan.

The most recent analyst rating on (MVIS) stock is a Hold with a $0.54 price target. To see the full list of analyst forecasts on Microvision stock, see the MVIS Stock Forecast page.

MicroVision Raises Capital Through New Convertible Notes Deal

On February 23, 2026, MicroVision entered into a securities purchase and exchange agreement with institutional investor High Trail Capital to issue $43 million in senior secured zero-coupon convertible notes maturing March 1, 2028, exchanging about $20.6 million of 2026 debt and adding roughly $22.4 million in new financing. The notes, ranking senior to all other company debt and secured by a first-priority lien on bank and securities accounts, can be redeemed in cash or, subject to caps and conditions, converted into common stock at an initial price of $0.8819 per share, with ownership and share-issuance limits tied to Nasdaq rules and a forced-conversion option if MicroVision’s share price trades above $2.00 for a sustained period.

The February 2026 transaction is structured as a private placement exempt from U.S. registration and carries tight covenants, including restrictions on additional indebtedness, minimum liquidity thresholds, and cash-burn constraints, while obliging the company to register resale of the underlying shares and seek shareholder approval for larger issuances. By deferring near-term repayment obligations on the prior note and bolstering its cash position, MicroVision aims to strengthen its balance sheet at a pivotal moment, supporting integration of recently acquired assets from Luminar Technologies and Scantinel Photonics, securing production capacity, and accelerating product deliveries, a move that underscores both the capital-intensive nature of lidar commercialization and the importance of financial flexibility for its customers and investors.

The most recent analyst rating on (MVIS) stock is a Sell with a $0.79 price target. To see the full list of analyst forecasts on Microvision stock, see the MVIS Stock Forecast page.

MicroVision Schedules Investor Update on Post-Acquisition Strategy

MicroVision announced on February 24, 2026 that it will host a video-enabled business update and fireside chat on February 25, 2026, led by Chief Executive Officer Glen DeVos and moderated by McKinsey & Company Senior Partner Emeritus Hans-Werner Kaas. The event will be streamed via the company’s investor relations site, with an archived replay, and is designed as an interactive session in which investors and other stakeholders can submit questions in advance or during the live webcast.

The discussion will focus on MicroVision’s strategic plan following two strategic acquisitions completed in the first two months of 2026, highlighting its roadmap and vision for redefining the future of lidar. By addressing the state of the lidar industry, the rationale for recent deals, and the company’s near- and long-term priorities, the update is intended to give shareholders, partners, and industry observers deeper insight into how the acquisitions may shape MicroVision’s competitive positioning and influence broader industry dynamics.

The most recent analyst rating on (MVIS) stock is a Sell with a $0.79 price target. To see the full list of analyst forecasts on Microvision stock, see the MVIS Stock Forecast page.

MicroVision to Acquire Luminar Lidar Assets in Bankruptcy

On January 26, 2026, MicroVision entered into an asset purchase agreement to acquire from Luminar Technologies key assets of Luminar’s lidar sensor business, including intellectual property and inventory related to the Iris and Halo sensors, selected commercial contracts and orders, and certain engineering and operations staff, for a cash purchase price of $33 million funded from existing cash. MicroVision emerged as the winning bidder in a Section 363 U.S. Bankruptcy Code auction, and the U.S. Bankruptcy Court approved the agreement on January 27, 2026, positioning MicroVision to expand its lidar product portfolio, accelerate its commercial strategy, streamline operations and potentially benefit from ongoing consolidation in the lidar sector, pending completion of customary closing conditions expected around early February 2026.

The most recent analyst rating on (MVIS) stock is a Sell with a $0.85 price target. To see the full list of analyst forecasts on Microvision stock, see the MVIS Stock Forecast page.

MicroVision Receives Nasdaq Deficiency Notice on Bid Price

On January 12, 2026, MicroVision, Inc. received a deficiency notice from Nasdaq after its shares traded below the $1 minimum bid price requirement for 30 consecutive business days, putting the company out of compliance with Nasdaq’s continued listing standards. While the notification does not trigger an immediate delisting and does not affect MicroVision’s current trading status, business operations, regulatory reporting, or contractual obligations, the company now has 180 days to regain compliance, a window that may prompt strategic actions to support its share price and reassure investors about its ongoing Nasdaq listing.

The most recent analyst rating on (MVIS) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Microvision stock, see the MVIS Stock Forecast page.