MicroVision, Inc., a company dedicated to advanced perception solutions for autonomy and mobility, has released its financial results for the fourth quarter of 2024, reporting revenues of $1.7 million. This figure represents a significant decrease compared to the $5.1 million generated in the same period the previous year. It is worth mentioning that the fourth quarter revenue in 2023 included an extraordinary $4.6 million from Microsoft, making the growth in revenues in the last quarter of 2024, exclusive of this exceptionality, mainly driven by demand in the industrial sector.
Despite this decline in revenues, MicroVision has made significant advances in its operations. The company has focused its efforts on generating short-term revenue opportunities, collaborating with key players in the field of autonomous mobile robots (AMR) and automated guided vehicles (AGV). In addition, it has strengthened its partnership with original equipment manufacturers in the automotive industry, receiving numerous requests for proposals for the development of vehicles and customized solutions.
MicroVision’s CEO, Sumit Sharma, highlighted the company’s advantageous position to secure new revenues in 2025, focusing on sectors such as industrial, automotive, and defense. Sharma emphasized the value of their offering, combining advanced perception software with their MAVIN and MOVIA sensors, allowing the company to offer competitive solutions to their customers.
In terms of finances, MicroVision reported a net loss of $31.2 million in the fourth quarter of 2024, equivalent to $0.14 per share. This includes stock-based compensation expenses and costs related to a new convertible note. Comparing to the same period in 2023, where the net loss was $19.7 million ($0.10 per share), the downward trend is evident. Adjusted EBITDA for this quarter also showed losses of $13.2 million, slightly better than the $13.6 million from the previous year.
The company’s liquidity remains strong, ending the quarter with $74.7 million in cash and equivalents, a slight increase from the $73.8 million at the end of 2023. Additionally, MicroVision has signed an agreement to access up to $17 million in new funds, which will strengthen its financial position and help reduce future obligations of existing debt.
Finally, the company has scheduled a conference call for March 26, 2025, where a summary of the results and updates on the business situation will be provided.
via: MiMub in Spanish
