Introduction of MOVIA S and Tri-Lidar Architecture
MicroVision introduced MOVIA S, a solid-state sensor with a 180-degree field of view, at IAA in Munich. This sensor is part of a family of short-range sensors for automotive, industrial, and defense sectors. The MOVIA S allows for full perception and advanced lidar-based driver assistance features at a breakthrough cost level.
Strategic Acquisition of Scantinel Photonics
MicroVision announced the asset purchase agreement of Scantinel Photonics, gaining access to 1550 nanometer FMCW ultra-long-range lidar technology. This acquisition enhances MicroVision's ability to offer a complete range of solutions across all end market sectors.
Expansion into Defense and Drone-Based Lidar
MicroVision's newly formed Aerial Systems team is advancing drone-based lidar developments. Initial proof-of-concept for both fixed wing and rotor drones is expected by year-end, with customer engagements already underway.
Strong Financial Position
MicroVision ended the quarter with $99.5 million in cash and cash equivalents, with additional funds available under existing facilities. Operational cost management has extended the financial runway into 2027.