MicroVision (MVIS) Q3 2026 Earnings Call: Revenue Growth, Guidance and LiDAR Expansion
Source Tradingkey
Key Takeaways
- Q3 2026 revenue rose to $2.4 million from $0.2 million a year earlier, matching MicroVision’s revenue for the entire first half of 2026. Year-to-date revenue reached $4.8 million, versus $1.0 million through the first nine months of 2025.
- Gross profit improved to $1.2 million, representing a 50% gross margin, compared with a $0.7 million gross loss in Q3 2025. Management attributed the improvement partly to inventory and assets acquired from Luminar.
- MicroVision maintained its full-year 2026 revenue guidance of $10 million to $15 million. The company has approximately $10 million of customer purchase orders awaiting shipment, with most related inventory already built.
- Management expects 2027 revenue to double from the 2026 level, supported by committed orders, expanded IRIS sales and MOVIA demand. Shipment timing and supply-chain availability remain key variables.
- The company is targeting approximately $40 million of operating cash burn in 2027, down by roughly one-third from its approximately $60 million target for 2026. A workforce reduction affecting about 28% of the organization is intended to support this goal.
- Commercial priorities include increasing IRIS shipments, launching HALO in Q4 2027 and converting interest in MOVIA Pro into production contracts. MicroVision said it is engaged with more than 70 potential MOVIA Pro customers.
Key Financial Data
| Metric | Q3 2026 | Comparison and context |
|---|---|---|
| Revenue | $2.4 million | $0.2 million in Q3 2025; equal to total revenue generated in H1 2026 |
| Year-to-date revenue | $4.8 million | $1.0 million in the first nine months of 2025 |
| Gross profit | $1.2 million | Gross loss of $0.7 million in Q3 2025 |
| Gross margin | 50% | Year-to-date gross margin was 46%, versus negative 126% a year earlier |
| Operating expenses | $22.5 million | Down about 7.5% from the H1 2026 quarterly average of $24.4 million |
| R&D expense | $13.2 million | Cost reductions began contributing during the quarter |
| SG&A expense | $9.4 million | Included approximately $1.2 million of nonrecurring finance-related costs |
| Adjusted EBITDA loss | $11.1 million | H1 2026 quarterly average loss was $18.0 million; Q3 included a $6.3 million German R&D grant |
| GAAP net loss | $12.2 million | $14.2 million loss in Q3 2025 |
| GAAP loss per share | $0.45 | $0.72 in Q3 2025 |
| Operating cash used | $13.6 million | $16.5 million in Q3 2025; benefited from the German R&D grant |
| Cash and cash equivalents | $28.9 million | $27.2 million at the end of Q2 2026 |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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