MicroVision (MVIS) Q2 2026 earnings summary

Executive summary

• Achieved significant commercial momentum in Q2 2026, expanding product portfolio, leadership team, and completing a one-for-15 reverse stock split to maintain Nasdaq listing and enhance capital flexibility.

• Transitioned to a LiDAR-based perception solutions company, integrating major acquisitions (Scantinel Photonics and Luminar Technologies assets), broadening market reach across industrial, security, defense, automotive, robotics, AI, and aerial systems.

• Successfully integrated Luminar's business, maintaining customer relationships, resuming IRIS sensor shipments, and launching new products like MOVIA Air and MOVIA S.

• Established MicroVision Semiconductor to bring chip design in-house, supporting cost reduction, integration goals, and contributing to revenue.

• Strengthened commercial and technical leadership with key appointments, including a new Chief Commercial Officer and Head of Marketing.

Financial highlights

• Q2 2026 revenue was $1.5 million, up 850% year-over-year, driven by increased sensor shipments and engineering services; first half 2026 revenue totaled $2.4 million.

• Q2 gross margin reached 44% (gross profit $642,000), a significant improvement from a loss last year; year-to-date gross margin is 42%.

• Net loss for Q2 2026 was $36.9 million ($1.66/share), compared to $14.2 million in Q2 2025; six-month net loss was $62.2 million.

• Operating expenses for Q2 2026 were $24.9 million, up from $14.1 million year-over-year, mainly due to acquisition and integration costs.

• Ended Q2 with $27.2 million in cash equivalents and investment securities, plus $41.2 million available under the ATM facility, totaling $68.4 million in accessible capital.

Outlook and guidance

• Reiterated 2026 revenue guidance of $10 million–$16 million, with most revenue expected in the second half, driven by commercial traction and new product launches.

• Raised gross margin guidance to 40%–45% for 2026, reflecting improved supply arrangements and product mix.

• Maintained cash burn guidance at ~$60 million for 2026, expecting improvements in the second half from revenue growth and reduced expenses.

• Substantial doubt exists about the ability to continue as a going concern for at least 12 months due to high cash burn and historical losses.

• MOVIA S launch in October 2026 expected to drive significant revenue growth in 2027, with capacity planning for 15,000 units.