MicroVision (MVIS) Q1 2026 earnings summary

Executive summary

• Achieved significant operational integration and completed acquisitions of Luminar and Scantinel, consolidating teams, technologies, and manufacturing in Orlando, and expanding the product portfolio with new long- and ultra-long-range lidar sensors.

• Restarted key commercial programs, resumed shipments, and expanded customer engagements across industrial, security and defense, and automotive sectors, with commercial traction and increased confidence in the Lidar 2.0 strategy.

• Streamlined operations post-acquisition, reducing global workforce by 15% and consolidating engineering and operations in Orlando.

• Accelerated near-term revenue opportunities by actively shipping sensors from existing and acquired inventory.

• Net loss for Q1 2026 was $25.3 million, an improvement from $28.8 million in Q1 2025.

Financial highlights

• Q1 2026 revenue was $0.9 million, up 59% year-over-year, driven by higher sensor shipment volume.

• Gross margin improved to 39% from 7% in the prior year quarter.

• Gross profit for Q1 2026 was $0.4 million.

• Operating expenses rose to $23.9 million, mainly due to acquisition and integration costs.

• Cash and equivalents at quarter-end were $46.1 million, with total liquidity of $88.1 million including ATM facility availability.

Outlook and guidance

• Maintains full-year 2026 revenue guidance of $10–$15 million, with most revenue expected in the second half.

• Improved cash burn guidance to ~$60 million for the year, down from $65–$70 million.

• Raised gross margin guidance to 35–40% for the remainder of 2026.

• Management expects to incur significant losses and negative cash flow through 2026 and the foreseeable future; additional capital will be required beyond the next 12 months.