Defense and Security Market Momentum
Increased pull from defense customers, driven by Scantinel's 1550 nm FMCW (invisible to night vision) and long-range capabilities; MOVIA L shipments began to a European security & defense OEM in December with repeat orders continuing into 2026.
Clear 2026 Revenue Guidance
Management guides 2026 revenue to $10 million–$15 million, reflecting confidence in converting Luminar contracts and expected product shipments across short- and long-range portfolios.
Reduced Operating Expense Base (Cash-Based)
On a cash basis, operating expenses for full year 2025 were $45.5 million, a decrease of $14.4 million or 24% year-over-year versus 2024, demonstrating cost management and headcount/purchase service reductions.
Improved Cash Flow Trend and Liquidity Measures
Full year cash used in operations was $58.7 million in 2025, down $9.8 million or 14% versus 2024; balance sheet at end of Q4 included $74.8 million in cash, equivalents and investment securities, $43 million available on ATM, and subsequent issuance of $43 million aggregate principal in senior secured convertible notes (repaying a $19.5M note and providing additional liquidity).
MOVIA S Industrial Interest and Production Plan
MOVIA S (short-range) is gaining customer interest following launch activity; management expects MOVIA S production to start in Q4 of the year and to drive industrial revenue and growth into 2027.
Consolidation to Improve Operating Efficiency and Manufacturing Footprint
Decision to consolidate Redmond engineering, manufacturing and supply chain into Orlando (U.S. manufacturing site) and maintain strategic sites in Germany and Colorado to realize synergies and support security & defense requirements.
Broad Product Portfolio and Strategic Acquisitions
Acquisitions of Luminar and Scantinel expanded MicroVision's portfolio to include MOVIA short-range solid-state sensors, IRIS and HALO long-range sensors, and a 1550 nm FMCW sensor — creating a full stack from silicon to perception (MOSAIK and SENTINEL software) and enabling participation across automotive, industrial and security & defense markets.
Accelerated Commercial Traction and Customer Base Expansion
Luminar integration brought approximately 30 new customer relationships, restarted paused commercial programs (IRIS shipments began in first month post-acquisition), and enabled cross-pollination of products across customer bases to accelerate revenue conversion.