Increased Engagement with Automotive OEMs
MicroVision's level of engagement with automotive OEMs has increased with multiple reformulated RFQs, targeting mass market adoption with cost-competitive and scalable lidar products.
Integration with NVIDIA DRIVE AGX Platform
MicroVision has achieved full integration with NVIDIA's DRIVE AGX platform, positioning itself as a qualified solution provider for automotive OEMs.
Industrial and Defense Market Opportunities
MicroVision is in the final stages of several industrial engagements and plans to demonstrate an autonomous swarming drone system in the defense sector in the first half of next year.
Financial Position and Strategic Investments
MicroVision raised $35 million net from the ATM during the second quarter, extending its runway into 2027, and has $91.4 million in cash and cash equivalents.
Cost Reductions and Operational Efficiency
Year-over-year R&D and SG&A expenses were reduced by 44%, with a focus on maintaining current spending levels to execute the business strategy.